GST No.: 24AABAT4356N1Z6               

E-Mandate Services

E-Mandate Services

RBI and the National Payments Corporation of India launched an API-based payment solution (NPCI). It serves as an underlying infrastructure for your businesses in India to collect recurring payments without any human intervention. It transfers all Mandate-related information from the merchant site to the bank through the NPCI interface for authentication mode selection. And for authenticating, the mandate uses either internet banking credentials.

To compete in today's market, all service-related corporations create an API on their portal or with the assistance of an integrator that has the capability of gathering all mandate-related information. e-Mandate is a simple method for your company and its customers to manage regular payments such as insurance premiums, SIPs, loan installment collections, and so on. The advantage for you here is that this eliminates the hassles of reminders and late penalty charges that eventually prove to be a win-win for both businesses and their customers.

Benefits: -

  • Real time approvals instead of 15+ days for the x-mandate.
  • Experience paperless process. No more signing and sending a hard copy of the x- mandate.

Key Authentication Modes: -

  • Internet Banking

Authentication Process:

    • For “Internet banking” authentication, the customer will be prompted to enter the login and password credentials.
    • The Customer has to verify whether all the mandate details he/she will authenticate are correct. Select the mode of authentication and authenticate the mandate duly providing his/her credentials.
    • Our Bank is already live on the Internet banking authentication mode.