There exists a large opportunity in offering technology and services
to Regional Rural Banks (RRBs), Co-Operative banks, Post Offices
and other such government affiliated departments for enabling
Government Disbursements, Kisan Credit Card Management Infrastructure,
Core Banking Applications, field level infrastructure and management
and monitoring of such infrastructure
Most RRBs, Co-op Banks, etc do not have any infrastructure
for enabling such services to the rural masses. Indepay offers
end-to-end managed services for such entities covering front end
devices, card issuance services, transaction acquiring services,
financial services/products and hosted core banking
IndePay’s wireless multifunctional devices
are located at retail outlets which are manned by Business/Banking
Correspondents (BCs) and allow such BCs to expand their products
and services inventory by offering voice calls, mobile recharge,
mobile content, air and rail ticketing, credit and debit card
payments, entertainment content retailing, utility bill payments
etc in addition to offering banking services to the Rural populace
Indepay’s rural banking services platform
connects to multiple banks, payment gateways and payment associations
like Visa and Mastercard and provides end-to-end managed issuance
and acquiring capabilities to RRBs, Co-op Banks, etc
Indepay offers end-to-end infrastructure to banks
for
- Extending “Branchless” Banking Services through
a certified, secure PoS terminal - cash withdrawals/deposits,
daily deposits, loans, insurance and remittances as a banking
correspondent
- Extending Kisan Credit Card, NREGA and NOAP disbursements
and Other Government Disbursements
- Hosted Core Banking and Branch Automation
- Indepay Content Retailing Services - Railway and Bus Ticketing,
Mobile Recharges, Utility Bill Payments, etc
- Retail of Financial products - Micro Insurance, Loans and
Deposits
- Financial and Livelihood Promotion Services - real-time commodity
information to benefit farmers
Enabling Branchless Banking
- Cash Deposit / Withdrawal and Cheque / Demand Draft deposit
- Opening of savings/term deposit account
- Voice prompted Balance Enquiry
- Mini Statement / Account Statement
- Transaction Status
- Request Demand Drafts
- Account Transfer
- Kisan Credit Card - Using the Indepay infrastructure, RRBs
and Co-Op banks can offer issuance and acquiring of KCC transactions
in real time
- NREGA, NOAP and Government Disbursements - Using the Indepay
infrastructure, several government disbursements can be enabled
in real time including NREGA Disbursements, Old age / handicapped
/ widow pensions (SSP, NOAP, etc), Food stamps, Janani Suraksha
Yojana, Salary payment to rural staff
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