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Yes Bank (stylised as YES BANK) is an Indian private sector bank, headquartered in Mumbai, catering to retail customers, MSMEs, and corporate clients. The bank was founded by Rana Kapoor and Ashok Kapur in 2003. [5] Its network is spread across 300 districts in India and comprises 1,198 branches, 193 BCBOs and 1,287+ ATMs. [6] [7]
BillDesk was founded by Indian entrepreneurs M.N. Srinivasu, Ajay Kaushal and Karthik Ganapathy in 2000. [7] The three previously worked at American accounting firm Arthur Andersen LLP. [ 8 ]
The acquiring bank makes the batch settlement request of the credit card issuer. The credit card issuer makes a settlement payment to the acquiring bank (the next day in most cases). The acquiring bank subsequently deposits the total of the approved funds into the merchant's nominated account (the same day or next day). This could be an account ...
It also provided banking software to HDFC Bank, ICICI Bank, Axis Bank, and Yes Bank, [16] and through ICICI Bank, to Google and WhatsApp. [17] The company further managed 50% and 30% of the total transaction volume generated on the Unified Payments Interface (UPI) and the Immediate Payment Service (IMPS) platforms respectively. [14]
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [ 1 ] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
Payment card numbers are composed of 8 to 19 digits, [1] The leading six or eight digits are the issuer identification number (IIN) sometimes referred to as the bank identification number (BIN). [ 2 ] : 33 [ 3 ] The remaining numbers, except the last digit, are the individual account identification number.
After a moratorium imposed by RBI on Mastercard due to data localization issues, Federal Bank and Yes Bank started on-boarding new credit card customers on RuPay platform. [ 52 ] [ 53 ] In 2021, Fiserve with NPCI launched a stack of services called nFiNi, that will help Indian banks improve the quality of services for RuPay credit cards. [ 54 ]
Structured Financial Messaging System (SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. It is an Indian standard similar to SWIFT which is the international messaging system used for financial messaging globally. SFMS can be used for secure communication within the bank and ...