BHIM users can now contribute to their existing NPS accounts with ease, eliminating the need to remember complex details. Instead, users can make contributions using just their registered mobile number and minimal customer parameters, making retirement planning as easy as a few clicks. Contributions made through BHIM are fully processed and invested within one business day, ensuring timely investment.

Rahul Handa, Chief Business Officer, NBSL, said, “The addition of NPS contributions on BHIM marks a significant stride in making essential financial services more accessible to millions across India. By enabling NPS contributions directly on BHIM, we are fostering a culture of proactive retirement planning and long-term security for all. This initiative is a pivotal step towards a more resilient nation, showing our commitment to financial inclusion and the evolution of BHIM as a comprehensive financial platform.”

Commenting on the launch, Noopur Chaturvedi, CEO, of NPCI Bharat BillPay Limited (NBBL), said, “We are delighted to have BHIM, now available for NPS investments powered by Bharat Connect. This enables BHIM users to effortlessly contribute to their NPS accounts directly through the app. Our goal is to enhance financial accessibility and inclusivity for all citizens across India, and this initiative is a testament to that commitment.”

The NPS has experienced significant growth, with more than 38.25 lakh retail accounts as of September 2024. This new feature is expected to further drive NPS adoption, helping individuals build a reliable income stream for their post-retirement years.

Here’s how users can avail this feature on the BHIM app:

• Click on ‘View All’ under the ‘Recharges and Pay Bills’ section on your BHIM app home screen
• Click on ‘NPS’ under the ‘Other Categories’ section and enter the following details:
  • Permanent Retirement Account Number (PRAN) or 10-digit mobile number
  • Date of Birth
  • Tier
  • Contribution Amount
• Tick the checkbox to agree to the Terms and Conditions and tap ‘Get Bill Details’
• Tap on ‘Bill Info’ to review details of NPS investment and the amount of breakup
• Select your preferred payment mode, hit/tap ‘Pay’, and complete the payment

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• This all-in-one solution will allow users to accept Bharat QR, UPI, Tap & Pay, and Tap+ Pin payments
  
• The Tap+ Pin capability will power payments of more than ₹5000
  
• Merchants will receive sound and visual transaction alerts in 7+ languages

MUMBAI: Axis Bank, one of the largest private sector banks in India, today announced the launch of NFC Soundbox in collaboration with Mastercard. An industry-first proposition for the merchant community, the new soundbox will act as an all-in-one solution allowing the users to accept Bharat QR, UPI, Tap & Pay and Tap + Pin payments.

With this launch, Axis Bank will be the first bank in India to introduce a Soundbox that can accept Tap + Pin payments, enabling merchants to accept transactions greater than ₹5000 via card instruments. The device will be powered with a dual confirmation feature, providing audio cues through its speaker and visual feedback on the screen in more than seven languages, ensuring a smooth and reassuring transaction experience for both merchants and consumers.

The new Soundbox will be powered with 4G + Wifi capability which provides superior connectivity and seamless processing of transactions. It will be capable of supporting deep integration with third-party applications as well. With Dynamic QR, the amount is automatically populated when the consumer scans the code.

Axis Bank and Mastercard’s collaboration on the NFC Soundbox will help drive card payment acceptance among small merchants. The Soundbox’s innovative and cost-effective proposition along with a seamless transaction experience will help drive quick and secure contactless card payments, leading to cardholder delight.

The new device will also be available on all leading payment networks, such as Visa, RuPay, and American Express.

Speaking at the launch event, Sanjeev Moghe, President & Head- Cards & Payments, Axis Bank, said, “The Bank has always been at the forefront of innovation by introducing various form factors and digitizing the onboarding journey of merchants. This expansion will ensure that our capability stack offers state-of-the-art payment solutions while prioritising a faster and secure payment ecosystem. Through this initiative, we strive to deliver the best possible solutions to both the merchants and their customers by offering multiple modes of payments via different channels. This device aligns with the Bank’s asset lite strategy to provide products/solutions of superior quality at an affordable price. The NFC Soundbox will help the Bank further penetrate the small merchant segments with cost-effective and simple payment solutions that are secure and compliant with PCI standards.”

Commenting on the collaboration, Gautam Aggarwal, Division President, South Asia at Mastercard, said, “What is taking place in India is a playbook for the rest of the world in terms of innovation in digital payments at population scale. The launch of NFC Soundbox is another example of a form factor which provides consumers with access to quick and highly secure card transactions. At the same time, small merchants will be able to use a cost-effective all-encompassing payment solution. Mastercard is delighted to collaborate with Axis bank to power the launch of this unique device furthering digital payments acceptance among India’s small merchants and MSMEs.”

Axis Bank is the largest player in the merchant-acquiring business pan India, with POS terminal market share of 19.8% as of March’24. With an installed base of 17.60L terminals spread across the country, it serves all categories of merchants from the metro cities, urban and rural areas. The Bank has gained an incremental market share of 28% in the last 12 months period (April’23-March’24).

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Summer is just around the corner, and it’s time to start planning your dream vacation. Picture this: the sun is shining, the waves are crashing, and the scent of adventure is in the air. But hold onto your beach hats, because we’re about to take your vacation planning game to a whole new level! With Amazon Pay, organizing your trip has never been easier. Say goodbye to the days of stressing over bookings and boring logistics and get ready to dive headfirst into a world of convenience and exciting rewards. From flights, cab, and hotel bookings, to funky travel gadgets, we’ve got the inside scoop on how to plan the perfect summer escape. So, buckle up, grab your sunscreen, and let’s plan your go-to summer destination with Amazon Pay!

Browse and Book Flights: Start by booking your travel tickets with Amazon Pay and enjoy upto INR 5000 off on international flights and upto 10% off on domestic flights, making the experience quick and hassle-free. What’s more, enjoy 5% additional cashback with Amazon Pay ICICI Bank credit card and maximize your savings! So, let the beaches and mountains call you right away!

Upgrade your Stay: Once your flights are booked, it’s time to find the perfect place to stay. Whether you prefer a cozy vacation rental or a luxurious hotel, you’ll find plenty of options to suit your preferences and budget. Hop on to Amazon Pay to book your hotel accommodations and enjoy upto 30% off your bookings!

Don’t fret, the one-stop solution is here to the rescue! With the ease of booking cabs and one-click payments on Ola, and Uber, along with exciting rewards, check Amazon Pay Balance to make your family trips a lot more fun! Not just this, Prime Members can enjoy 5% cashback on their Uber rides.

Indulge In Fashion and Beauty Bliss: Make sure you have everything you need for your summer trip by shopping on Amazon.in with Amazon Pay. Turn heads with trendiest fashion clothes, sunglasses, fashion accessories, to beauty essentials such as moisturizers, eyeliners, kajal, primer, perfumes, foldable hair dryers, makeup kits, and so much more! The experience gets rewarding with 5% cashback for Prime customers with Amazon Pay ICICI Bank credit card and 2% cashback for non-prime customers. What’s more, in case you don’t have a credit card, worry not! Pay via Amazon Pay UPI to enjoy assured rewards too! So, plan without any stress because beauty waits for no itinerary!

Stay connected with Travel Essentials: Stay connected while traveling by purchasing essentials such as travel bags, travel adapters, and noise-cancelling headphones on Amazon.in. Pay with Amazon Pay ICICI Bank credit card wherein Prime Members can enjoy 5% cashback and others can get 3% cashback on all their purchases. Further, from travel-sized toiletries to portable chargers and packing cubes, pay with Amazon Pay to make your experience convenient and rewarding.

Plan and enjoy the perfect summer getaway without any stress or hassle with Amazon Pay. So, start dreaming, exploring, and booking your next summer adventure today!

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The dividend of Rs.2.00 per equity share (20%) was declared by BOI’s Board of Directors on May 30, 2023. The dividend payout is based on the bank’s strong financial performance for the full year 2022-23.

For the full year 2022-23, BOI’s net profit jumped by 18.15%, which went up from Rs.3,405 crores in FY22 to Rs.4,023 crores in FY23. The Operating Profit increased by 34.09% from Rs.9,988 crores in FY22 to Rs.13,393 crores in FY23.

By successfully paying dividends to the Government of India, the Bank of India reaffirms its robust financial performance and unwavering dedication to creating value for its shareholders. This accomplishment stands as a testament to the bank’s commitment to excellence and its ability to generate consistent returns.

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