DIGITAL PAYMENT METHODS BANKS PRE-PAID CARDS

BANKS PRE-PAID CARDS
How to get it:

Provide full KYC (Know Your Customer) information to open new account
Apply for Wallet/ Pre-paid Card
Get a MPIN / PIN
Service Activation:

Load money (subject to regulatory limits) using branch, or internet banking
Bank A/c
All Cards
1-2 days for card
5-7 minutes for wallet

What is required for Transaction:

Smartphone or internet
Use MPIN
Self-service and/or Assisted mode
Transaction Cost:

On loading the pre-paid card, Customer may pay service charges for transaction or fixed fee, upfront + each transaction.
Loading wallets is mostly free.
Merchant is charged fee 0.50% to 2.50 %
Cash out is charged to customer as fixed fee or 1% to 2.5% of value of transaction. Only from Cards
Disclaimer: The transaction costs are based on available information and may vary based on banks.

Services Offered:

Balance Enquiry
Passbook/ Transaction history
Add money
Bank A/c
All Cards
Accept Money
Pay money
Another wallet (mobile no.) with same provider
Pay merchant
Bar Code reader
Cash-Out (Cash withdrawal)
Touch and Pay
Manage Profile
Notifications
Funds Transfer limit:

For Users
Rs 1,00,000/- for Users
For Merchants
Self-Declared - Rs 50,000/ month
With KYC – Rs 1,00,000/- month
Disclaimer: The funds transfer limits are based on available information and may vary based on banks.

Service Available from no. of operators:

All leading Banks
Non-operable
Cash-out with limits only for VISA/Mastercard linked wallets/ cards

Source:http://cashlessindia.gov.in