Bharti Airtel is taking its attempts against Reliance Jio and the market leader, Vodafone Idea very seriously, and to ramp up its operations, the telecom operator is leaving no stone unturned. The Sunil Bharti Mittal led telco is leveraging every area in which it offers its services to try to gain the upper hand over other telcos. One such avenue is the Airtel Payments Bank. Airtel Payments Bank has also... Read More
Airtel Payments Bank has announced today that it has finally started offering open loop BHIM UPI based transactions at over 500,000 merchant points across India. This new introduction will allow the consumers to make digital payments for goods and services by using any BHIM UPI enabled bank or payments app over their mobile phones. It is worth noting that Airtel Payments Bank has been providing payments solutions to consumers to... Read More
Airtel Payments Bank on Friday announced it has teamed up with Bharti AXA General Insurance for a two-wheeler insurance product offering. In a statement, Airtel Payments Bank said the product is available on My Airtel App and at over 40,000 Airtel Payments Bank points across India during the first phase of launch. "Airtel Payments Bank today (Friday) announced the launch of an attractive two-wheeler insurance product in association with Bharti... Read More
Airtel Payments Bank has tied up with global cloud-payment solutions provider, Empays, to allow its users to make card-less cash withdrawals at over one lakh ATMs across India. Starting today, Airtel Payments Bank' savings account holders will be able to withdraw cash using just their mobile phone through the card-less cash technology called IMT (Instant Money Transfer). The technology can be used for self-withdrawal or for sending money to an... Read More
The Reserve Bank of India (RBI) today imposed a fine of Rs 5 crore on Airtel Payments Bank Limited for breaking the Know Your Customer (KYC) guidelines. “It is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers,” stated RBI. This will come as a massive blow for Airtel Payments Bank unit, and it's unknown at the moment when... Read More
Airtel Payments Bank has reportedly removed nearly 1,000 retailers from its network chain for not following the correct procedure while signing up customers. Airtel has conducted an internal investigation to minimise such errors in the future. For the unaware, Airtel recently received a temporary eKYC license suspension for opening Airtel Payments Bank account of customers without their notice. People familiar with the matter told Economic Times that Airtel "levied a... Read More
For the past two weeks or so, Bharti Airtel made the headlines due to the Airtel Payments Bank account opening issue without customer's knowledge. In fact, Aadhaar body UIDAI also suspended the eKYC license of Airtel. However, the telecom operator received back the license very quickly, although for a temporary period until January 10, 2018. UIDAI is yet to release the eKYC license of Airtel Payments Bank though. Airtel was... Read More
India's leading telecom operator, Bharti Airtel, earlier this year forayed into the banking sector by announcing India's first Payments Bank service, the Airtel Payments Bank. Currently, Airtel Payments Bank has more than one million merchants on board. Recently, Airtel Payments Bank has integrated Unified Payment Interface (UPI). Doing so, Airtel Payments Bank became the first payments bank in the country to offer UPI services. Airtel Payments Bank currently has over... Read More
Payments banks are predicted to change our country's poor banking system in coming days. As majority of payments bank license, approved by Reserve Bank of India are directly or indirectly related to Telecom industries, it can be assumed that India's telecom industry can be a partner in changing the banking landscape, or banking system can be revamped by telecom majors-owned, stripped down version of conventional banks, which are in turn... Read More
In the last one year or so, the word Payments Bank is hitting everyone's mouth across the country. Back in August 2015, Reserve Bank of India (RBI) approved 11 applicants to open the Payments Bank service in India. And the major ones among the list are Airtel, India Post, Paytm, Aditya Birla Nuvo LTD, Vodafone m-Pesa, Reliance Industries LTD. [youtube https://www.youtube.com/watch?v=MIlzO5jpRCU] All the major telecom operators in the country are... Read More
Bharti Airtel, the country’s largest telecom operator, has announced a strategic partnership with Ola, the transportation service to offer a wide-range of digital services to customers. Both Airtel and Ola’s applications will now provide a comprehensive ecosystem to address the country’s growing mobility needs. “Ola will leverage Airtel’s integrated suite of enterprise services to power its operations, while Airtel will leverage Ola’s vast network of hundreds and thousands of driver... Read More
India’s first payments Bank, Airtel Payments Bank has announced that the company has opened over one lakh (1,00,000) savings accounts in Madhya Pradesh. Airtel said that approximately 70 percent of these accounts had been opened in rural areas. The telco commenced the Airtel Payments Bank operations back in January 2017. Airtel Payments Bank has been successful in most of the areas ever since its inception and Airtel has converted all... Read More
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