Tag: Mobile

ToneTag completes RBI’s first cohort of voice-based retail payments

Banking & Finance

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ToneTag has successfully completed the Reserve Bank of India’s first cohort for voice-based retail payments.

It has executed offline voice-based payments via feature phones and smartphones in areas with inconsistent internet connectivity, with people who are digitally not savvy or find it difficult to use apps for banking or payments, making digital payments a reality for all, it said in a statement on Tuesday.

The technology-led payments revolution

With this technology, the company said it hopes to drive financial inclusion across geographies and make digital payments convenient and available for everyone with a mobile phone of any make or model.

72% of payments happen digitally for MSMEs vs 28% cash: Report

“The success of our technology in the cohort will not only bring rural India into the digital payment ecosystem but will also bridge the gap between conventional and futuristic payment options for millions of customers who currently don’t have access to digital payment services,” said Kumar Abhishek, Founder, and CEO, ToneTag.

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HDFC Bank deploys mobile ATMs across India, BFSI News, ET BFSI

Banking & Finance

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Mumbai, HDFC Bank on Saturday said it has deployed mobile ATMs across India to assist customers during the lockdown.

“At restricted, sealed areas, the ‘Mobile ATMs’ will eliminate the need for general public to move out of their locality to withdraw cash,” the bank said in a statement.

“During the lockdown last year, HDFC Bank successfully deployed mobile ATMs in over 50 cities and facilitated lakhs of customers in availing cash to meet their exigencies.”

Accordingly, customers can conduct over 15 types of transactions using the ‘Mobile ATM’, which will be operational at each location for a specific period.

The ‘Mobile ATM’ will cover 3-4 stops in a day.

“We hope our mobile ATM will provide a great support for people who want to avail basic financial services without having to venture far from their neighbourhood,” said S. Sampathkumar, Group Head – Liability Products, Third Party Products and Non-Resident Business at HDFC Bank.

“This service will also be of great help to all the healthcare workers, and other essential service providers who have been working tirelessly to combat the pandemic.”

–IANS

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