- Sarvodaya commercial co-operative Bank Ltd. Mehsana
RBI and the National Payments Corporation of India launched an API-based payment solution (NPCI). It serves as an underlying infrastructure for your businesses in India to collect recurring payments without any human intervention. It transfers all Mandate-related information from the merchant site to the bank through the NPCI interface for authentication mode selection. And for authenticating, the mandate uses either Aadhar OTP.
To compete in today's market, all service-related corporations create an API on their portal or with the assistance of an integrator that has the capability of gathering all mandate-related information. e-Mandate is a simple method for your company and its customers to manage regular payments such as insurance premiums, SIPs, loan instalment collections, and so on. The advantage for you here is to eliminates the hassles of reminders and penalty charges that eventually prove to be a win-win for both the parties/customers.
Benefits :
- Real time approvals instead of 15+ days for the x-mandate.
- Experience paperless process. No more signing and sending a hard copy of the x- mandate.
Authentication Modes :
- Aadhar Card
