Airtel Payments Bank Enables 24x7 NEFT Transfers

In-line with the Reserve Bank of India’s guidelines, Airtel Payments Bank customers will now be able use the National Electronic Funds Transfer (NEFT) facility at any time of the day. The facility will be available to customers on 24x7 basis even on holidays enabling then to receive or send funds to any bank from anywhere, anytime. 

Airtel Payments Bank customers can transfer funds via NEFT using the banking section of the Airtel Thanks app or website of Airtel Payments Bank. They need to select ‘Transfer Money’ option followed by ‘transfer to Bank’. A screen to register beneficiary will appear. Once the beneficiary registration process is completed, customer can easily transfer the money.

Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “We are committed to provide customers with an efficient and smooth banking experience. We welcome the RBI mandate as it will allow our customers to easily transfer the money to any bank account at any time using NEFT mode. This will add to the overall online banking experience for the customers."

Airtel Payments Bank offers a host of solutions like UPI, IMPS, debit card and wallet to make digital payments and money transfers. 

Airtel Payments Bank, launched in January 2017, now boasts of a physical presence in all 29 states of the country through its 500,000+ banking points. Out of these, over 60,000 focus on insurance and pension products in an attempt to reach the underserved. India’s first payments bank, it currently facilitates transactions worth 500 billion annually with a user base of over 40 million customers. In addition to its physical banking points, Airtel payments Bank also offers its banking services through its Android and iOS apps. In line with the Government’s vision of Digital India and Financial Inclusion, Airtel Payments Bank is striving to take digital banking services to the doorstep of every Indian, even in the remotest of rural areas. 

Now purchase FASTag at Airtel Payments Bank and enjoy exciting benefits

Airtel Payments Bank, in partnership with the National Payments Corporation of India (NPCI) and the Indian Highways Management Company Limited (IHMCL), has made FASTag available across its digital and retail touch points. FASTag enables automatic cashless payments at toll plazas across India, making road travel frictionless and time efficient.

FASTag can be purchased in a matter of few clicks on the Bank section of Airtel Thanks App. Airtel Payments Bank is offering a special benefit of Rs 50 cashback on FASTag purchase made via the app. Airtel Thanks customers will soon be able to enjoy an additional benefit of Rs 50 cashback on the online purchase.

FASTag can also be purchased from select banking points of Airtel Payments Bank. To buy a FASTag customers need to share a copy of the vehicle’s Registration Certificate (RC) and registration number.

FASTag is linked to a registered Airtel Payments Bank account or wallet to enable instant automatic deduction of toll charges. There is no need to recharge FASTag separately and bank/Wallet balance is good enough. FASTag users also get 2.5% cashback from NHAI on all Toll payments done using FASTag.

Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “We are delighted to partner with NPCI to offer FASTag as part of our endeavour to bring a range of popular services to our digital platforms and promote cashless payments. We believe that upcoming use cases from NPCI such as digital parking payments and even challan payments will add to customer convenience and add to the vibrant digital ecosystem that India is building."

Ms. Praveena Rai, Chief Operating Officer, NPCI said, “It is good to witness that Airtel Payments Bank is making FASTag available to vehicle owners for convenient and seamless toll plaza experience. Given the fact that we are just few days away for the mandatory FASTag implementation on 528+ toll plazas, it becomes crucial to create awareness among vehicle owners about its process and advantages. We would like to acknowledge the efforts of Airtel Payments Bank for creating a platform for its customers by giving them a hassle free toll payment experience with FASTag, and also contributing towards digitisation of toll payments."

Airtel Payments Bank Ltd.

Airtel Payments Bank, launched in January 2017, now boasts of a physical presence in all 29 states of the country through its 500,000+ banking points. Out of these, over 60,000 focus on insurance and pension products in an attempt to reach the underserved. India’s first payments bank, it currently facilitates transactions worth 500 billion annually with a user base of over 40 million customers. In addition to its physical banking points, Airtel payments Bank also offers its banking services through its Android and iOS apps. In line with the Government’s vision of Digital India and Financial Inclusion, Airtel Payments Bank is striving to take digital banking services to the doorstep of every Indian, even in the remotest of rural areas.

Airtel Payments Bank Launches UPI Enabled Digital Payments

Airtel Payments Bank has become the first payments bank in India to integrate the Unified Payments Interface (UPI) on its digital platform. This will add to customer choice and convenience for making secure digital payments to online/offline merchants and making instant money transfers to any bank account in India.

UPI enabled payments and money transfers will add another dimension to Airtel Payments Bank, which has a vast network reach, particularly in deep rural pockets, and a wide merchant ecosystem that accepts digital payments from its customers.

To recall, Google is also on verge of launching the UPI based payment app called 'Tez'. The launch is expected to happen on 18 September.

Shashi Arora, MD and CEO, Airtel Payments Bank said, "We are pleased to announce UPI integration with Airtel Payments Bank. This would allow all our 20mn bank customers to create their personalised UPI handles on the Airtel app, and enable them to make digital payments in both the offline & the online space. Our bank customers would also be able to link their bank accounts on Bhim app and make UPI payments.”

Mr. Dilip Asbe, Chief Operating Officer, National Payments Corporation of India (NPCI) said, “Payments banks are capable of facilitating remittances and payments to a large user base especially to underserved area as per RBI’s vision. We are happy to on-board Airtel Payments Bank on BHIM/UPI platform. Through this association, we foresee significant rise in digital transactions at untapped merchant locations and person-to-person payments space.”

For UPI based payments and transfers, customers are not required to furnish their bank details to enable transactions and can create easy to remember IDs, ensuring optimal data security. Customers can also use MyAirtel app (Bank section) to scan any UPI QR code for making merchant payments. Online and offline merchants can leverage Airtel Payments Bank as a payment mode to accept payments seamlessly from their customers. UPI is now accepted across categories of merchants including billers, insurance , travel, retail etc. both online and offline.

How can customers create their Airtel Payments Bank UPI handle:

• Customers need to update their My Airtel App
• Select UPI from the ‘Bank’ section
• Create personalized handle name (E.g.: mobile no@airtel). Default will the customer’s mobile number

Customers can also link their Airtel Payments Bank savings accounts to any of their UPI handles on popular apps such as BHIM or UPI apps of other banks. This can be done by selecting Airtel Payments Bank from the link or change account section and select airtel payments bank from the listpost which customer details will be linked to the UPI handle automatically.

Image Source: ShutterStock

Airtel Payments Bank Launches UPI Enabled Digital Payments

Airtel Payments Bank has become the first payments bank in India to integrate the Unified Payments Interface (UPI) on its digital platform. This will add to customer choice and convenience for making secure digital payments to online/offline merchants and making instant money transfers to any bank account in India.

UPI enabled payments and money transfers will add another dimension to Airtel Payments Bank, which has a vast network reach, particularly in deep rural pockets, and a wide merchant ecosystem that accepts digital payments from its customers.

To recall, Google is also on verge of launching the UPI based payment app called 'Tez'. The launch is expected to happen on 18 September.

Shashi Arora, MD and CEO, Airtel Payments Bank said, "We are pleased to announce UPI integration with Airtel Payments Bank. This would allow all our 20mn bank customers to create their personalised UPI handles on the Airtel app, and enable them to make digital payments in both the offline & the online space. Our bank customers would also be able to link their bank accounts on Bhim app and make UPI payments.”

Mr. Dilip Asbe, Chief Operating Officer, National Payments Corporation of India (NPCI) said, “Payments banks are capable of facilitating remittances and payments to a large user base especially to underserved area as per RBI’s vision. We are happy to on-board Airtel Payments Bank on BHIM/UPI platform. Through this association, we foresee significant rise in digital transactions at untapped merchant locations and person-to-person payments space.”

For UPI based payments and transfers, customers are not required to furnish their bank details to enable transactions and can create easy to remember IDs, ensuring optimal data security. Customers can also use MyAirtel app (Bank section) to scan any UPI QR code for making merchant payments. Online and offline merchants can leverage Airtel Payments Bank as a payment mode to accept payments seamlessly from their customers. UPI is now accepted across categories of merchants including billers, insurance , travel, retail etc. both online and offline.

How can customers create their Airtel Payments Bank UPI handle:

• Customers need to update their My Airtel App
• Select UPI from the ‘Bank’ section
• Create personalized handle name (E.g.: mobile no@airtel). Default will the customer’s mobile number

Customers can also link their Airtel Payments Bank savings accounts to any of their UPI handles on popular apps such as BHIM or UPI apps of other banks. This can be done by selecting Airtel Payments Bank from the link or change account section and select airtel payments bank from the listpost which customer details will be linked to the UPI handle automatically.

Image Source: ShutterStock

Airtel Payments Bank Appoints Dhiraj Sharda as Chief Digital Officer

Airtel Payments Bank, the first payments bank in the country to go LIVE, today announced that it has appointed Dhiraj Sharda as its Chief Digital Officer. Dhiraj will report to Shashi Arora, MD & CEO, Airtel Payments Bank.

In his new role, Dhiraj will be responsible for product development, digital delivery and development of digital marketing platforms for Airtel Payments Bank. He will also drive some of the proactive initiatives by Airtel Payments Bank to accelerate the adoption of digital/cashless payments across the country.

Airtel Payments Bank is a fully digital and paperless bank and customers can access services over their mobile phones, including all feature/basic mobile phones. Airtel Payments Bank will develop a nationwide digital payments ecosystem of over 3 million merchant partners that will include small kirana stores, shops and restaurants etc. These merchant partners will accept digital payments for goods and services from Airtel Payments Bank customers over mobile phones.

Commenting on the appointment, Shashi Arora, MD & CEO – Airtel Payments Bank said, “We are pleased to have Dhiraj as part of our leadership team. I am confident that his rich experience will add value to our endeavour to deliver world-class digital banking and payments solutions to every Indian through innovative products. I wish Dhiraj all the very best for his new role and look forward to working with him.”

Dhiraj brings with him over 15 years of rich work experience with start-ups and large companies in Silicon Valley (USA). Dhiraj joins Airtel Payments Bank from IAC (the parent company of Expedia, Match and Tinder.com), where he was Sr. Director of Product. In the past, he has worked with Prosper, Visa, AT&T, Yahoo and Wipro.

Dhiraj has done his MS from Stanford University, USA and Computer Engineering from Pune University.