The document discusses various digital payment methods in India including Unified Payments Interface (UPI), BHIM, BHIM Aadhaar Pay, SBI Pay, Aadhaar Enabled Payment System (AEPS), USSD, PayGov, and SBI debit and credit cards. It provides details on how each method works, transaction limits, and advantages and disadvantages. It also discusses State Bank of India's initiatives for digital financial inclusion including Digital Village and transforming villages into cashless ecosystems.

1. BY
K.BHUVANESHWARI

2. UPI
BHIM
BHIM AADHAAR PAY
SBI PAY
AEPS
USSD
PAY GOV
SBI CARDS(CREDIT &DEBIT)
DIGITAL VILLAGE
SBI MINGLE
SBI DIGI VOUCHER
SBI VEDIO STATEMENT
SBI IMT

5. Unified Payment Interface (UPI)
What is a Unified Payment Interface ?
 UPI is a single-window mobile payment system
developed by the National Payments Corporation of
India (NPCI).
 UPI is a system that powers multiple bank accounts
into a single mobile application (of any participating
bank), merging several banking features, seamless
fund routing & merchant payments into one hood.
 Simply use apps like BHIM, PhonePe, G-pay etc.
to directly accept payments.

6. How the Unified Payments Interface
Works
UPI will use existing systems such as Immediate Payment
Service (IMPS) and Aadhaar Enabled Payment System (AEPS)
to ensure seamless settlement across accounts.
It facilitates push (pay) and pull (receive) transactions and
even works for over-the-counter or barcode payments, as well
as for multiple recurring payments such as utility bills, school
fees and other subscriptions.

7. Advantages:
It costs less than 50 paisa for a instant transaction.
It eliminates the need to enter bank details or other sensitive
information each time a customer initiates a transaction.
Disadvantages:
Requires Smartphone with regular Internet.

10. BHARAT INTERFACE FOR MONEY (BHIM)
(BHIM) is an app that lets you
make simple, easy and quick payment
transactions using Unified Payments
Interface (UPI). You can make instant
bank-to-bank payments and Pay and collect
money using just Mobile number.
Transaction Limits:
BHIM accepts a maximum of Rs 20,000
per transaction and Rs 40,000 limit within
24 hours. It supports Hindi and English
currently.

11. Advantages:
 You never need to enter your details again and again into BHIM app as it
picks up your details corresponding to bank and phone number.
 No Transaction charges, transfer to anyone with or without BHIM app.
 The BHIM app don’t save any information except the account name and
phone number, hence it is much more secure.
 13 languages supported on BHIM.
Disadvantages:
 You can’t use BHIM app for any kind of online payment
 Transaction limit is low.
 It doesn’t yet not work without internet and Aadhaar card

13. BHIM-Aadhaar-SBI is a digital payment acceptance
solution from State Bank of India which enables an SBI merchant to
accept payments for goods/services using his Android Smartphone
and fingerprint reader, from customers having Aadhaar seeded bank
accounts, by authenticating the customer's biometrics.
Sender should have BHIM Aadhaar app and certified
biometric scanner attached with mobile. Both Receiver and Sender
should have their Aadhaar linked to their Bank Account.
BHIM Aadhaar Pay

14. Benefits of Aadhaar Payment App:
 Customers need not to have an android phone or any other
technology to make payments.
 No service tax or any other extra charge on the payments using
Aadhaar payments app.
 There is no need to carry debit card or credit card.
 No need to remember PIN or passwords.
Drawbacks:
 Maximum transaction limit is very low as 10k per day.
 Without Aadhaar linked(sender) to the Bank Account we
couldn’t make transactions

16. SBI PAY - State Bank of India UPI Based Payment App
 SBI Pay is a digital payment solution app that provides
customers the UPI facility, along with other features and
benefits.
 It’s used even by non-SBI customers to send and receive money
through UPI.
 Allow any UPI account holder to made transactions without
account, card details or IFSC.
 Its secured by the security question and OTP
SBI PAY

17. Limits:
 Transaction is Rs.1L(per account)and 20 transactions per day.
Benefits:
 Fast and economical( no charges involved).
 Transfer money to any bank account.
 There is no need to register a beneficiary/payee when it comes to
UPI.
 High Trustable.
Drawbacks:
 SIM 1 is not active on your Smartphone, then the app cannot be
activated .

19. Do you know that now you will be
able to pay using Aadhaar Card.
 Really ! this is true; with the dream of a cashless economy,
Government is gearing up to bring simpler alternatives of cash.
To make “Digital India” and to bypass the complexities of
Net banking, mobile banking, credit card and debit cards,
Government has innovated an awesome way for cashless
transactions.

20. Aadhar Enabled Payment System (AEPS)

21. Services available under AEPS app (Software)

22. USSD
 The codes which directly communicate with the server of
telecom company is called as the USSD. The meaning or
full form of the USSD is Unstructured Supplementary
Service Data.
 USSD is a technology normally used in the field of
telecommunication. It is available on all GSM enabled
handsets. You do not need an internet connection to use
the services of this method.
Limits:
 Funds Transfer limit is 5K per day and Rs 50K per
annum.

23.  Provide KYC (Know Your
Customer) information to
open a new account
 Mobile no. should be linked
with bank a/c
 Register for USSD/Mobile
Banking
 Get MMID (Mobile Money
Identifier)
 Get MPIN (Mobile PIN)
How to get it ?

24. Benefits:
Currently offered by 51 leading banks & all networks
and 12 different languages.
Service Activation within 2 mins.
There is no need to install any separate application.
Drawbacks:
Transaction Cost is Rs. 0.50 to 1.50 charged to customer.
Less transaction limits.
You should be registered for mobile banking to access this
facility. The same is not mandatory for the beneficiary.

26.  Govt. Of India has collaborated with NSDL for providing a
centralized platform for facilitating all Govt. departments and
services to collect /provide online payments from/to the
Citizens.
Limits
 It depends on customers and usage.
PAYGOV

27. Benefits:
 Used even for conference participation, relief fund donations etc.
 All modes of digital transactions are available.
 Customers all personal information and credit card details on
secure server and the same is encrypted before it is transmitted
over the Internet.
Drawbacks:
 Too many documents and Agreements, Terms & Conditions.
 PayGov would need 2 weeks to enable live set up.

29. SBI DEBIT CARD
SBI GLOBAL INTERNATIONAL DEBIT CARD:
With your SBI Global International Debit Card you get access to
your account whenever and wherever you want.
You can use it to purchase goods at merchant establishments, for
making payment online and withdraw cash in India as well as across the
globe.
Transaction Limit:
 It has a purchase limit of Rs 50,000 per day, but the purchase limit
offered on its international debit card is four times i.e. Rs 2,00,000 per day.
 It is important to know which card you carry and the transaction limit set
on it.

30. Benefits SBI International Debit Card:
 Earns 1 Rewards point per Rs. 200/-.
 Enhanced Daily Cash Withdrawal & Transaction Limit.
 Complimentary accidental death insurance.
Disadvantages of Debit Cards:
 Even though debit cards have become widely used, many people are
unfamiliar with their advantages and disadvantages.
 Debit cards look like credit cards, but function like cash or personal
checks. Debit cards can function in two ways: Like an ATM card for
immediate withdrawals of cash.

31. SBI CREDIT CARD
SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) is a payment
solutions provider in India. It is incorporated as a joint venture between the State
Bank of India, India's largest bank, and The Carlyle Group.
They are headquartered in Gurgaon , Haryana/Delhi NCR and have
branches in over 50 cities a cross India.
Credit Limit:
 Most credit cards have a minimum and a maximum credit limit that
applies to that card, e.g. $20,000 – $2,00,000.
 But this does not mean that if you are approved for a certain card, you
are automatically entitled to the maximum credit limit.

32. ADVANTAGES:
Really needful in the Emergency situation – Credit card always the
best solution for your emergency situations.
Interest-free period – Most of the credit cards give you an interest-free
facility.
Convenient to use in a wide range – You can use your credit cards
anywhere and everywhere.
Build your credit line – Maintaining a good credit score is always
essential not only for applying for credit cards but also for applying for
loans, some jobs and for buying things on a contract basis.

33. DISADVANTAGES:
 Blowing your budget – The biggest disadvantage is, the credit
card suppliers encourage you to spend money.
 High-interest rate – Credit card companies charge a high amount
of interest on each balance that you don’t pay off at the end of each
month.
 Chances to diminish your credit score – a Credit card is a good
way to increase your credit score as long as you pay their monthly
outstanding.

35. DIGITAL VILLAGE
Digital Village is often seen as an idea that can help remove
the Digital Divide, enabling development to reach
underdeveloped regions.
 In physical terms, a 'Digital Village' generally refers to a
village that has voice as well as data connectivity.
State Bank of India, the largest Bank in India, has embarked
on transforming the villages into cash less eco-system, by
adopting them as SBI DIGITAL VILLAGES.

36.  The project aims at transforming the selected villages into safe,
healthy and vibrant digital centres. The Bank will formally
launch this initiative in 21 villages on the occasion of State
Bank Day, which have moved on to the digital platform.
 SBI plans to bring 100 villages under this initiative across the
country.
 Several activities are undertaken for ensuring 100% financial
inclusion with focus on migration to Any Time Channels
through State Bank Buddy, PoS, ATMs, Micro ATMs, Mobile
Banking, Internet Banking, etc. Credit needs are also
addressed.
DIGITAL VILLAGE

38. ADVANTAGES :
 Villagers will get an opportunity to discover new things through internet facilities.
 With digital lockers, our documents would be safely stored. Possibility of loss
would be minimized.
 Online service portals will reduce the delays. All procedures would be transparent.
 Employment will increase as IT companies will employ more people so as to
accomplish there i.e. company's goals.
DISADVANTAGES :
 Government employment might reduce which in turn may lead to civil servants'
unrest.
 People will use free wifi just for time pass which is current scenario in metros.

40.  It provides the convenience of banking on Twitter and Facebook
through an App-based interface.
 Merchants who have an SBI account can use the app to receive
payments online. Also, merchants don’t need a Facebook account to
register.
 Users who have a Facebook account but don’t hold an SBI account
can also register. But the services available to them will be limited.
Limits
 Customer can fix the limits on the monetary value of transactions,
which they desire to carry out over this service.
SBI MINGLE

42. Benefits:
 Can transfer money to the receivers FB account or phone
contacts.
 Can block your debit cards to prevent from frauds
 Its very safety firewall so its trustable.
Drawbacks:
 SBI account needed for sender to transfer.
 Only available for SBI accounts.

44. SBI SCRIBE
 It is an innovative real time digitization platform that captures all
the customer information in one go.
 It is a solution that converts non-digital data (handwritten text)
into digital data (system readable) to drive high-level efficiencies
in account opening and KYC.
 On July 1, 2016, the introduced SBI Scribe to provide every 61st
SBI Bank day, SBI customer a digital and easy banking
experience.
 Walk-in with your KYC documents, walk-out with an account
number.

45. Benefits:
 Convenient and user friendly account opening process that
enables immediate account activation.
 It is simpler, faster and easier
 There is no more delayed account opening process and no more
long queues.
Drawbacks:
 Internet and system is needed for account opening.

47. SBI DIGI VOUCHER
 SBI Digi Voucher is a green banking initiative
that provides digital alternatives to paper
vouchers through a multi-channel solution and as
a mobile app.
 Now, there is no need to fill challan at the bank
counter to make cash deposits, RTGS, NEFT
request, or request for demand draft.
 With SBI Digi Voucher app, you can also view
history of your digital vouchers.

48. Available Banking Transactions:
 Deposit to saving account using cash.
 Deposit to saving account using SBI account cheque.
 Deposit to loan account through SBI account cheque.
 NEFT using SBI account cheque.
 RTGS using SBI account cheque.
 Request for demand draft issuance using SBI account
cheque.
SBI DIGI VOUCHER

50. SBI VIDEO STATEMENT
 State Bank of India (SBI) has launched a new product called "
SBI Video Statement" for HNI's, wealth management and
visually impaired SBI customers.
 SBI Video Statement is the initiative to view your account
statement with spend analysis and dashboards.
 It comes with a friendly audio narration for the visually
challenged customers.
 It is animated and voice-guided customer-level statements,
complete with analytics and customers spending patterns.

51. Benefits:
Animated statements which displays data in analyzed format.
Voice over embedded with a personalization.
Accessibility friendly initiative for visually impaired customers.
Collective and group wise analysis.
Funds inflow and outflow.
Secured as it will be password protected.
Drawbacks:
 Internet and Mobile are must for this application.
 Only available for SBI accounts.

53. Instant Money Transfer (IMT)
 State Bank of India (SBI) has launched an Instant Money Transfer
(IMT) Payment, it is an innovative domestic service that allows you to
send cash to a receiver.
 All you need to do is mention receiver's mobile number, amount to be
sent and set Sender's code. Beneficiary can withdraw cash using a debit
card, from any ATM of the banks empanelled System on its ATMs in
India.
 IMT enables a payment up to Rs.10,000 to be made from
any SBI bank account to a person using just his/her mobile number as the
identifier.

54.  Only name, mobile number and address of beneficiary are
required by the sender.
 An IMT created once cannot be cancelled.
 The minimum transaction amount is Rs.100 and maximum is
Rs.10,000 per transaction with monthly limit Rs.25,000 per
month per beneficiary.
 Two days are given to the beneficiary for the IMT withdrawal.
If money is not withdrawn it will be automatically refunded
back to the sender.
Instant Money Transfer (IMT) Features

55. Benefits:
 Without any cards/application ,the mobile number is enough to
transfer.
 Available on 24/7.
Drawbacks:
 Less transaction limit.
 Sender should needed the SBI account to transfer.
 Transaction charge(Rs.25 per transaction )
 Receiver should withdraw whole amount in a single transaction.