Tag: IMPS

National Payments Corp launches campaign for its Rupay mobility card

MUMBAI: It’s bringing out all its aces in a bid to create awareness and boost adoption of its card. Retail payment and settlement body National Payments Corp of India (NPCI) has launched a campaign, “RuPay On-The-Go,” which is promoting its pre-paid RuPay National Common Mobility Card (NCMC). This campaign showcases the RuPay NCMC as the ultimate payment solution for seamless transit, offering unmatched speed, convenience, and user-friendliness.

The RuPay NCMC is a payment solution that addresses the challenges of India’s transit ticketing systems. With its unified, open-loop, and interoperable design, the card consolidates payments for metro, bus, tolls, parking, and retail into a single, seamless solution. With the stored value function, travelers enjoy swift, offline transactions, ensuring a quick and uninterrupted journey, even without internet connectivity. The card can be used for travel on metros in cities like Mumbai, Delhi, Bengaluru, Chennai, Ahmedabad, and Kanpur, as well as bus services in cities like Mumbai, Guwahati, Haryana, Jammu, Srinagar, Himachal and Aurangabad.

The RuPay On-The-Go new ad uses a clever tactic asking users to flip the ad which has two cards featured upside alongside each other to clearly communicate that it’s easy to use across different modes of transport. It highlights RuPay NCMC’s role as the ideal companion for dynamic individuals who value time and efficiency through its multimodal utility across metros and buses. The contactless symbol on RuPay cards reinforces its association with public transit, while the card’s versatility as both a transit and payment solution, cements its position as a go-to choice for modern, on-the-move lifestyles.

NPCI chief of products Kunal Kalawatia highlights that the card offers a quick and convenient transit payment solution.He adds: “It’s not just a payment method, it’s a lifestyle enabler. Designed for those who push boundaries and demand more from every moment, this campaign positions RuPay as the perfect partner for efficient and seamless transit. By expanding this contactless payment option across metros and buses, we are committed to making the daily commute smoother for millions across the country.”

NPCI is the leading authority for retail payments and settlement systems in the country, having revolutionised the way payments are made with its robust infrastructure and innovative products like RuPay, IMPS, UPI, BHIM, AePS, NETC, and Bharat Connect.

For further information on obtaining a RuPay NCMC, users can visit participating banks, metro stations, or designated transport offices to get started on their seamless transit journey.

December 9, 2024
Top 5 features to look for in a high-interest salary account

Is your monthly income just lying in a basic salary account, earning an interest rate that is below the average inflation rate? Many people don’t realise their salary account can be more than an instrument to deposit a pay cheque. All you have to do is choose the right high-interest salary account. But how do you figure out which account to select? This decision matters because choosing the wrong one could mean missing out on useful benefits and financial opportunities.

Given the importance of this decision, let’s learn the top 5 features that you should look for in a high-interest salary account. Get ready to grow your savings and enjoy value-added advantages to enhance your entire banking experience.

1. Zero balance requirement

If you have just started working or have other financial obligations (e.g., loan EMIs), keeping a consistent balance in your account can be a difficult task. In such situations, opting for an IDFC FIRST Bank Salary Account could be helpful. Its “zero balance” feature means you are not obligated to maintain any minimum balance in your account. You decide whether to spend or withdraw your full salary, without having to stress about falling below the required minimum balance.

2. Fee waivers on services

Service charges can eat into your savings, which is why opting for a high-interest salary account that minimises or fully eliminates these charges is very important. You can consider the IDFC FIRST Bank Salary Account to enjoy fee waivers on savings account related services such as:

• ATM withdrawals
• NEFT/RTGS/IMPS transactions
• SMS alerts

By avoiding these costs, you can retain more of your hard-earned money and allocate the funds towards other goals.

3. Access to better loan and credit card terms

Another non-negotiable feature to look at in a high-interest salary account is if it offers lenient terms on personal loans, home loans, or auto loans. These could mean relatively lower interest rates, faster approval times, and an easy paperwork process, all of which can make borrowing more affordable and stress-free.

Also, check if the bank offers customisable credit cards that offer features like:

• Higher credit limits
• Lower interest rates
• Annual fee waivers
• Reward points or cashback on purchases

These perks make it easier to handle big purchases, build your credit score, and enjoy spending flexibility when you need it most.

4. Easy access and digital banking features

Many people prefer to manage their accounts digitally without having to visit a bank or go through tiring paperwork. After all, it is a digital world today where time and convenience are highly prioritised. So, when choosing a high-interest salary account, check if it offers useful online and mobile banking features.

For example, with the IDFC FIRST Bank Digital Salary Account, you can use 250+ banking services via a dedicated mobile banking app. This includes features like:

• Goal-based investing
• Account aggregator
• Quick bill payments and recharges
• Option to apply for UPI enabled credit cards
• Spends categorisation
• Rewards and redemptions
• Superfast fixed deposit and recurring deposit booking

These premium digital banking solutions can be highly useful if you are trying to manage your money more responsibly.

5. No hidden fees or charges

High interest rates are beneficial, but hidden fees can silently reduce your earnings. These costs look small at first, but over time, they accumulate and offset the benefit you get from high interest rates. Therefore, opt for a salary account that comes with free ATM withdrawals, zero maintenance fees, and minimal or no transaction charges. That way, you won’t lose much to fees and keep most of your earned interest.

Conclusion

While selecting a high-interest salary account, it’s crucial to take note of other features such as zero balance requirements, fee waivers, easy access to loans or credit cards, and additional perks. By concentrating on these 5 critical factors, it is possible to find a salary account that aligns with your spending patterns and boosts your financial health.

With the IDFC FIRST Bank Salary Account, you can get all the above-mentioned benefits and make sure your deposited balance grows without unnecessary fees. It’s a smart way to make your salary work harder for you and enjoy both high growth and maximum convenience.

November 10, 2024
Dish TV slips into net loss, adds 0.83 mn subs in Q3

MUMBAI: Dish TV, India‘s largest direct-to-home (DTH) operator, has again slipped into quarterly net loss and performed below market expectations despite showing remarkable growth in subscriber numbers.

The company posted a net loss of Rs 448.8 million in the fiscal-third quarter, compared to a net profit of Rs 550.90 million in the trailing quarter, as content and other costs surged.

Dish TV‘s operating profit for the three-month period ended 31 December declined 11.5 per cent to Rs 1.38 billion compared to Rs 1.5 billion in the previous quarter. Ebidta margin for the quarter stood at 24.7 per cent.

"The content cost rose partly due to Media Pro which distributes the Star, Zee and Turner group of channels. The selling and distribution expenses also went up," said a media analyst.

Dish TV‘s expenses jumped to Rs 5.9 billion from Rs 5.3 billion as programming/content and other costs rose to Rs 1.63 billion from Rs 1.42 billion in the preceding quarter. Cost of goods and services grew 11.2 per cent to Rs 2.8 billion from Rs 2.5 billion in the preceding quarter, amounting to 51 per cent of gross revenue. Advertising and promotional expenditure rose 6.8 per cent to Rs 237 million from Rs 222 million. Selling and distribution expenses rose 26.6 per cent to Rs 661 million from Rs 522 million.
Operating revenue for the quarter stood at Rs 5.58 billion, recording a growth of 4.5 cent as compared to Rs 5.3 billion in the preceding quarter. Total income for the quarter increased to Rs 5.7 billion from Rs 5.4 billion in the previous quarter.

Subscription revenues for the quarter were Rs 4.9 billion, up from Rs 4.72 billion .

The company’s other income jumped 118.7 per cent to Rs 175 million from Rs 80 million in the previous quarter.

Subscriber additions

Dish TV added 829,000 new subscribers during the third quarter achieving a total of 14.7 million gross and 10.5 million net subscribers at the end of the period. In the previous quarter, the company had added 477,000 subscribers.

"Dish is looking at adding 2.5 million subscribers this fiscal. It continues to have a strong subscriber growth and has added 1.8 million new customers so far in this fiscal," the analyst said.

Subscriber acquisition cost falls

Subscriber Acquisition Cost (SAC) during the quarter declined to Rs 2,201 compared to Rs 2,273 in the preceding quarter. "While the subscriber growth was much higher than the previous quarter, the marketing expense did not go up as much. This led to a fall in SAC," the analyst added.

Dish TV MD Jawahar Goel said, “While the distribution industry remained on tenterhooks preparing for digitization, the third quarter saw the much debated compulsory switch off of analog television signals take place in key metro markets. Although lack of execution in Chennai and Kolkata was a dampener, festival demand coupled with mandatory conversion in Delhi and Mumbai brought the DTH industry back to the 1 million plus monthly run-rate. DTH garnered around 35 per cent share of incremental additions post the sunset date.”

“In line with our expectation, we witnessed significant subscriber uptake around the sunset date of 31st October. Dish TV achieved the largest share of 28 per cent amongst DTH platforms in the digitization territories. ‘Dish+’, India’s first standard definition recorder, played its part in differentiating and attracting consumer interest in a crowded market,” he added.

ARPU improves

The company‘s Average Revenue Per User (Arpu) grew marginally by a rupee to Rs 160 due to a price hike in the third quarter, up from Rs 159 in the previous quarter.

Goel said, “A larger base did create pressure on the average revenue per user which, primarily supported by price hike in the second quarter, increased marginally to Rs 160. In the third quarter, apart from the usual additional spends typically experienced due to the festive season, additionally this year the company’s investments to capitalize on the digitization opportunity are also reflected in higher costs during the quarter. A seasonally higher marketing expense was as per budget. Content cost for the year is expected to be within the guided range of 12 per cent increase over the previous fiscal.”

Dish TV recently launched India’s first Standard Definition Recorder, ‘Dish+’, with unlimited recording facility. ‘Dish+’ comes equipped with a USB slot and is positioned at a competitive price compared to non recorder ready boxes. ‘Dish+’ was initially launched in the 42 cities covered under Phase I and Phase II of digitization and is now available across India as a value for money differentiator over other boxes in the market.

In a first within the television distribution industry, Dish TV has launched recharge option through Interbank Mobile Payment Service (IMPS) through which the subscriber can recharge his Dish TV account securely and conveniently through an instant, interbank electronic fund transfer service that can be initiated only through mobile phones.

Considering the deep penetration of cell phones in the country, money transfer through them is likely to emerge as a popular mode of transacting for daily services in the days ahead, the company said.

Shares of Dish TV fell 4.96 per cent to close Tuesday at 73.7 on the BSE.

January 22, 2013