Bharat QR code. Single QR code for all Wallet.

Bharat QR Code is a common QR code made ease of payments across different wallet service. This is a standard which will support Visa, MasterCard and Rupay cards for wider acceptance. Currently, if you want to make a cashless payment at most stores, you need a credit and debit card to swipe and enter the PIN code for authentication but Bharat QR code will enable the merchants to accept digital payments without the Point of Sale (PoS) swiping machine. It will allow customers of any bank to use their smartphone app to make payment using their debit card. This will help merchants need to invest in buying the PoS machine.

As of now Bharat QR is integrated into ICICI Bank’s Pockets app and HDFC Bank’s PayZApp, with more banks expected to update their apps with support for the same. In order to test this feature I tried making payment using ICICI Bank’s Pocket app. To test the feature, I have generated a QR code using BHIM app. Next, I used Pocket’s app to scan the QR code and the payment successfully went through via UPI

In short, you will need your bank app or BHIM app installed in your phone. At the merchant’s store, open the app, tap on Scan QR Code or Scan & Pay (option will differ from one bank to the other) and scan the Bharat QR Code. Once the code is scanned, you will have to enter the amount that you want to pay, add a remark and enter your four-digit passcode. Once authentication is complete, the money will be transferred to the merchant’s bank account.

From Merchants side he  will simply need to generate the Bharat QR Code, Take a print out and stick on their payment desk. The payment done by customer using this menthod will be  instantly credited into merchant bank account. Currently  Paytm,Freecharge and Mobikwik, merchants have limits on the amount of money that they can accept every month.  so this will not happen in BHARAT QR method.

With the help of  Bharat QR code, the transaction is completely secure, and card details remain in customer’s control, which is a big advantage.
Currently, when you give your credit / debit card to swipe, there is negligible possibilities of someone capturing crucial details such as card number, expiry date and CVV. While OTP option is enabled for two-step-verification before authenticating transaction, the risk of exposing your card details still remains. 

Soon Revolution in Banking from Mobile Store

Modi government has strives towards providing banking facilities to all sections of society, especially the poor and disadvantaged sections. Under this effort, the government launched the country’s public-funding scheme, now mobile shops, petrol pumps and shops located on the corners of the streets, helping people reach the door is banking.

The name of the new payment system of banking is PAYMENT BANK which is away from traditional financial institutions.Under this scheme Mobile stores, fuel centers and corner stores will permit you to provide banking services.

RBI’s move shows that the traditional bank PM Narendra Modi alone can not meet the objective of financial inclusion. 11 million new bank accounts were opened under Jan Dhan yojana, However, the concern is that these out of 11 million account , 8 million accounts is not having money in the accounts.

Payment Bank  will cater India’s 600,000 villages supporters say that this may be linked to the banking facilities where such facilities are not. Payment via bank to send money home, achieve economic benefits arising from the government or the business will be easier.
Payment bank will help to provide service different from traditional banks.Most important change is that the payment bank will accept only cash, but they will also have option to take  cash.

To provide banking services to people before the government started a system which was named prepaid payment instrument system. The biggest drawback of this system was that it could only be taken. There was no provision for payment to depositors lack the new banking system has been completed.

Payment bank  will help to put a stop to the use of cash in the economy. In 10 of the 9 transactions in India still have cash transactions only. The banking system and pre-paid mobile operator service providers play a key role. Retailers are also interested in it. Present in over 100 cities in India such as Future Group is a retail company said that it would apply for permits  Telecom service provider companies like Airtel, Vodafone and others want to be second in this case.

All in ONE Mobile Banking Platform on Simple GSM mobile

NUUP (National Unified USSD Platform) is a mobile banking service provided by NPCI (National Payment Cooperation of India) which works on the USSD technology. Customers can avail of basic mobile banking services of various Bank just by dialing the short code *99# from their mobile phone, irrespective of the telecom service provider, mobile handset capability or the need for a mobile internet plan.

USSD (Unstructured Supplementary Service Data) is a transmission protocol used by GSM cellular telephones to communicate with the Telecom Service Providers (TSP). Though similar to Short Messaging Service (SMS), USSD messages however create a real-time connection which remains open, allowing a two-way exchange of data.You need to first register yourself for the Mobile Banking Channel and ensure that your current mobile number is also updated with the Bank.

On dialing the short code *99# you will be first prompted to input the bank’s IFSC code i.e. IBKL or SBIN/BKID after which an interactive menu with various banking services will be displayed on the screen. You may then select the relevant banking service from the list of options available.

Benefits of NUUP (USSD) service

           An interactive session oriented service
           Simple and easy to use
           Works on almost all GSM handsets
           GPRS connection not required
           Works even while on the move
           More secure than SMS

Services currently available

           Balance Enquiry
           Mini Statement
           Fund Transfer to Mobile Number (MMID based)
           Fund Transfer to Account Number (IFSC based)
           Know your MMID

How do I enroll or activate for the USSD (NUUP) service?

Step 1. Register for Mobile Banking channel online through Net Banking or submit the Channel Registration Form at the nearest Branch.

How do I access the NUUP (USSD) service?

1. Dial *99# from your GSM mobile phone.
2. You will receive a welcome message as “Welcome to National Unified USSD Platform – NUUP. Please enter first 4 letters of your Bank – IFS code or NUUP code to begin.”
3. Type IBKL which is the first 4 letters of IDBI Bank’s IFS code.( similarly use for other banks)
4. Menu options like Balance Enquiry, Fund Transfer etc will be displayed on your mobile screen.
5. Select the desired option from the menu and enter the details as requested in the session.
6. Enter the MPIN and confirm the transaction.
7. You will receive a confirmation on your mobile screen with the desired information /confirmation for the transaction.

Which are the mobile operators and BANKS connected in NUUP network?
Currently there are some listed BANKS which are enroll in this program.Slowly different banks are in process to provide these service to theri customer.You can check check your respective bank at this link 
The list of telecom Operators participating in the NUUP service is available at the following link – http://www.npci.org.in/pro_pb.aspx

What are the charges for USSD mobile banking service?
 Bank is providing this service free of cost. However Telecom Service Providers charge Rs. 1.50 per USSD session as per the pre-paid plan / post-paid billing cycle.

Will it work on only Java enabled or on basic mobile handsets? Will it require mobile internet connection or some software to be downloaded?
NUUP service does not require any mobile internet connection or software to be downloaded on the mobile. It works even on the most basic GSM mobile handsets

Do I need to have GPRS or Data plan for using USSD?
No need to have GPRS or any such data connection on your mobile. You can use the service from any GSM mobile which has a voice calling capability.

Does it work on CDMA mobile?
USSD channel is supported only on GSM mobiles.
Can I use this service if my mobile number is not registered with the Bank?
No. You need to first register yourself for the Mobile Banking Channel and ensure that your current mobile number is also updated with the Bank.

Soon access your Bank account detail using *99# on Basic Mobile phones

In coming days bank account holders will be able to access their accounts, transfer funds, check balances and request cheque books by simply dialing *99# from their basic mobile phones,including the most basic GSM handsets.

While some bank have already rolled out similar services for example in SBI it is *595# but now *99# will be a universal code to access account details across all banks.  *99# connectivity is under the Unstructured Supplementary Service Data (USSD) platform where each dial-in results in a live connection with the bank’s server.
This is similar to the system used in pre-paid phones to check balances. The user’s numerical literacy would be enough to operate the account .Best feature that I liked is that it not based on SMS or GPRS connectivity,  so there’s no charge on the user end.

Soon access your Bank account detail using *99# on Basic Mobile phones

In coming days bank account holders will be able to access their accounts, transfer funds, check balances and request cheque books by simply dialing *99# from their basic mobile phones,including the most basic GSM handsets.

While some bank have already rolled out similar services for example in SBI it is *595# but now *99# will be a universal code to access account details across all banks.  *99# connectivity is under the Unstructured Supplementary Service Data (USSD) platform where each dial-in results in a live connection with the bank’s server.
This is similar to the system used in pre-paid phones to check balances. The user’s numerical literacy would be enough to operate the account .Best feature that I liked is that it not based on SMS or GPRS connectivity,  so there’s no charge on the user end.

Get ICICI bank account balance by missed call

ICICI bank has came with innovative idea to its customer to get their account balance using missed call from register mobile. Customer who has registered their mobile number they can avail this facility.To get the balance all they need to just give a missed call to 022-30256767 from your registered mobile and receive a SMS.

The idea seem very innovative because as of now most of bank charge premium SMS rate for SMS banking which is very much costly from Rs 3 to Rs 5 per query.With this idea ICICI bank has at least managed to reduced SMS call charge to its customer. Hope such facility will be provided by other bank. Try this and post the comment.