Tag: Airtel Payments Bank

Business World

Airtel Payments Bank launches DigiGold – a digital platform for customers to make investments in gold

May 14, 2021 by Neel Achary 0 Comments #Airtel Payments Bank, #Chief Operating Officer, #Ganesh Ananthanarayanan, #Gaurav Mathur, #MD, #SafeGold

Hyderabad, May 14, 2021: As part of its growing bouquet of digital services, Airtel Payments Bank today launched DigiGold in partnership with SafeGold – the leading provider of digital gold.

With DigiGold, Airtel Payments Bank’s savings account customers can invest in 24K gold using the Airtel Thanks app. Customers can also gift DigiGold to their family and friends, who have a savings account with Airtel Payments Bank.

The gold purchased by customers is stored securely by SafeGold at no additional cost and can be sold through the Airtel Thanks app at any time in a matter of few clicks. There is no minimum investment value requirement and customers can start with as low as one rupee.

Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “DigiGold is the latest addition to our neo-banking proposition of simple, secure, and value-driven products. Our customers can now invest in gold through a seamless digital journey on our app. We also plan to introduce Systematic Investment Plans to enable customers to invest regularly.”

Gaurav Mathur, MD, SafeGold, said, “Gold is a part of almost every Indian’s investment portfolio, it is imperative for the ecosystem to devise avenues that empower every citizen to buy and sell gold digitally. Gold has seen a resurgence over the past year as the instrument of the savings of choice, and we are proud to have partnered with Airtel Payments Bank to offer customers a range of digital gold-related products in the manner and value of their choice.”

SafeGold, the leading provider of digital gold, offers customers 24K gold ascribing to international quality standards. It combines the convenience and speed of the internet with the safety of a SEBI registered Trustee and more security than traditional gold purchases.

Airtel Payments Bank recently increased its savings deposit limit to Rs 2 lakhs in line with RBI guidelines. It now offers an increased interest rate of 6% on deposits between Rs 1 – 2 lakhs.

Business World

Airtel Payments Bank announces 6% p.a. interest on deposits over Rs. 1 lakh

May 3, 2021 by Neel Achary 0 Comments #Airtel Payments Bank, #and CEO, #Anubrata Biswas, #MD

Hyderabad, May 3, 2021: Airtel Payments Bank today said that its customers will get an increased interest rate of 6% p.a. on savings account deposits of over Rs. 1 lakh.

This follows Airtel Payments Bank becoming the first payments bank to implement the enhanced day-end savings limit of Rs 2 lakh as per the Reserve Bank of India (RBI) guidelines.

Anubrata Biswas, MD, and CEO, Airtel Payments Bank, said, “RBI’s increased savings deposit ceiling is a major milestone for payments banks as this was a key ask from customers. With an attractive 6% p.a. rate of interest on deposit sums in excess of one lakh, we are making our banking proposition even more rewarding. Our unmatched footprint of 500,000 banking points and a global first secure and simple experience delivered digitally, Airtel Payments Bank offers a market-leading proposition for both the urban digital and the rural underbanked customer.”

Airtel Payments Bank Savings Account Interest Rates from May 1, 2021

Rs 1-2 lakhs 6% p.a.
Upto Rs 1 lakh 2.5% p.a.

The new interest rate regime is an important addition to the Bank’s suite of simple, secure, and rewarding solutions. Customers can now open an Airtel Payments Bank account within few minutes with a video call from the Airtel Thanks app. The bank offers a digital savings account – Rewards123, which gives more value to customers when they transact digitally using the account. Furthermore, customers who have an Airtel number linked to their savings account can also enable Airtel Safe Pay – India’s safest mode for making digital payments.

Airtel Payments Bank has over 55 million engaged users across its operations.

Business World, News

Airtel Payments Bank becomes the first payments bank to enable Rupees Two lakhs day-end account balance limit

Apr 20, 2021 by Rekha Nair 0 Comments #Airtel Payments Bank, #Anubrata Biswas, #MD and CEO

In-line with the Reserve Bank of India’s guidelines, Airtel Payments Bank has become the first payments bank in the country to enable Rs. 2 lakhs day-end balance account limit. Customers having an account with Airtel Payments Bank will be able to save more with this increased limit.

The Bank deposits are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) which is a wholly owned subsidiary of the RBI.

Airtel Payments Bank has 55 million engaged users and serves them through technology and a retail-based distribution network. The Bank has built a strong network of over 500,000 neighborhood banking points, which is bigger than the total number of bank branches and ATMs in India. These neighborhood banking points take services closer to the customer and have even reached deep rural pockets that never had access to banking services.

Anubrata Biswas, MD and CEO, Airtel Payments Bank, said, “The RBI’s decision to increase the balance limit is an endorsement of the role Payments Banks have in furthering financial and digital inclusion in India. We are glad to enable this increased day-end balance limit for our customers. At Airtel Payments Bank, we have always believed that higher balance limits would enhance consumer usage of payments banks, as well as enable large sections of informal India, such as small merchants and traders, to access formal banking easily.”

Business World

Launch of ‘Airtel Safe Pay’ – India’s safest way to pay digitally

Jan 21, 2021 by Rekha Nair 0 Comments #Adarsh Nair, #Airtel Payments Bank, #Airtel Safe Pay, #Anubrata Biswas, #Bharti Airtel, #Chief Product Officer, #MD & CEO

Hyderabad: To protect Airtel customers from the growing incidents of online payment frauds, Airtel Payments Bank today launched ‘Airtel Safe Pay’ – India’s safest mode for making digital payments.

With ‘Airtel Safe Pay’, Airtel customers making UPI or Netbanking based payments through Airtel Payments Bank, no longer have to worry about money leaving their accounts without their explicit consent.

An India-First innovation, ‘Airtel Safe Pay’ leverages Airtel’s ‘telco exclusive’ strength of network intelligence to provide an additional layer of payment validation compared to the industry norm of two-factor authentication. This offers the highest level of protection from potential frauds such as phishing, stolen credentials or passwords, and even phone cloning that catches customers unaware.  For details https://www.airtel.in/bank/safe-pay

Anubrata Biswas, MD & CEO, Airtel Payments Bank says, “As digital payments become the norm, especially in the post-pandemic world, we also have to solve for the challenge of frauds that are growing rapidly. We are happy to leverage Airtel’s core telco strengths to bring to market this unique capability that ensures that our customers have full control over their transactions. This sets a new benchmark in the Indian digital payments space by making security paramount.”

Using ‘Airtel Safe Pay’, Airtel Payments Bank customers can make secure digital payments across millions of merchants, online retailers and utilities, and even send money. Customers can open an Airtel Payments Bank account within few minutes with just a video call from the Airtel Thanks app and enjoy a range of benefits while they make fully secure digital payments.

Says Adarsh Nair, Chief Product Officer, Bharti Airtel: “Airtel Safe Pay is yet another innovation where our secure network and world-class digital platforms combine to solve a unique market problem. At Airtel, we are taking the lead in offering the most secure digital payments platforms to our users and making sure that the customer is always in control without a worry about rogue transactions.”

Airtel Safe Pay’ is completely free of charge and can be activated through Airtel Thanks app home screen or from the banking section in few easy steps. Watch how ‘Airtel Safe Pay’ works – https://youtu.be/UhpfjBjFcvk.

Business World

Airtel Payments Bank offers Car Insurance in association with Bharti AXA General Insurance

Nov 10, 2020 by Gouri Achary 0 Comments #Airtel Payments Bank, #Airtel Thanks app, #Bharti AXA General Insurance, #Mr. Ganesh Ananthanarayanan, #Mr. Sanjeev Srinivasan, #Smart Drive Private Car Insurance

Airtel Payments Bank today announced that it will offer comprehensive car insurance in association with Bharti AXA General Insurance.

The Smart Drive Private Car Insurance offers financial protection against damage to the vehicle due to accident, theft, and natural & man-made disasters. It also compensates for injury or damages to another person or property caused due to a car accident.

The insurance comes with a personal accident cover for the policyholder. In the event of an accident leading to permanent disablement or loss of life, this ensures financial protection for the family.

Airtel Payments Bank’s customers can easily purchase this policy within five minutes using a paperless, secure, and quick process through the Airtel Thanks app. With no pre-inspection required, a customer only needs to fill in the details about the vehicle, and the insurance is immediately issued on their registered email id and mobile number.

At the time of the renewal, customers can choose from a wide range of add on covers. This includes depreciation cover, small consumable items, loss or replacement of car key, roadside assistance in the event of car breakdown, damage of engine or gearbox, medical expenses if the policyholder is injured, ambulance expense to reach the hospital, and many more.

Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “We endeavour to offer a bouquet of well-designed products to serve varied insurance requirements of our customers. Motor insurance being mandatory in the country constitutes an important requirement for millions of car users. We are delighted to partner with Bharti AXA General Insurance to offer this comprehensive car insurance.”

Mr. Sanjeev Srinivasan, Chief Executive Officer & Managing Director, Bharti AXA General Insurance, said, “We always look for creating eco-systems that help us improve the reach of our insurance solutions. As part of our partnership with Airtel Payments Bank and strong synergies of customer-centricity, we are offering innovative motor insurance products to its customers through a seamless journey from the purchase to the claim process. The strategic alliance will also help us reach out to the growing customer base of the bank and secure them.”

Business World

Airtel Payments Bank simplifies payments experience for merchant partners

Oct 6, 2020 by Gouri Achary 0 Comments #Airtel Payments Bank, #e-POS (Point of Sale), #Mr. Ganesh Ananthanarayanan, #On-demand Settlement’, #Zero commission charges

New Delhi, October 6, 2020: Airtel Payments Bank has upgraded its app to further empower its merchant partners with a range of digital benefits that make the payments journey more simplified.

For merchants, the Airtel Payments Bank app now comes with two new features “Smart ePOS” and “On-Demand Settlement”.

Smart e-POS (Point of Sale) enables merchants to use their smartphones as a POS machine to accept digital payments and not worry about handling cash. Merchants simply need to select the Smart ePOS option in the app, and a QR code will appear on the mobile screen for the payments to be made. The amount will get credited immediately to the merchant bank account linked to the app. This eliminates the need to have a physical QR code or the need to carry an additional device to receive payments for home deliveries. Also, merchants can accept payments with ‘Zero commission charges.’

The all-new ‘On-demand Settlement’ feature enables merchants to transfer their payments into their bank accounts at any time as per their convenience. The money is instantly credited to the merchant’s registered bank account.

There are host of other additions as well. Merchants can easily monitor their daily earnings, check transaction statements, payment settlement history, and even buy shop insurance for themselves. Merchants can also refer to the help & support section in the case of a problem.

Airtel Payments Bank has close to 1.5 million merchants, across multiple categories and formats. The Bank aims to expand its Merchant base and plans to add over one million new merchants to its network in the coming months.

Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “Merchant partners play a crucial role in driving digital payments on the ground and empowering them with easy to use payment solutions is of utmost importance to us. The new solutions allow merchants to receive and settle payments through a seamless and secure digital process. This is one more step towards our aim of building a cashless economy.”