Bank of Baroda bags contract from MCGM for online payment services

By: |
Published: January 2, 2020 10:10:06 PM

The bank will offer the all facility with zero merchant discount rate (MDR).

The digital modes which can be used for making payments include UPI, QR code, BHIM, IMPS, debit card, credit card, net banking, prepaid card e-wallets and m-wallets among others.

State-owned Bank of Baroda on Thursday said it has bagged contract from Municipal Corporation of Greater Mumbai (MCGM) to establish digital payment collection services for a period of five years. With this, Mumbaikars will have an alternative digital payment services for making all payments and dues to the civic body, the bank said.

The digital modes which can be used for making payments include UPI, QR code, BHIM, IMPS, debit card, credit card, net banking, prepaid card e-wallets and m-wallets among others. All the services will be provided free of cost.

The bank will offer the all facility with zero merchant discount rate (MDR). The bank’s spokesperson said the bids for the contract were invited last September.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1PMC scam impact: RBI asks co-operative banks to constitute Board of Management
2Growth in bank lending to services slides in November
3NBFC commercial papers find few takers, PSUs and pvt firms gain in 2019