DBS Bank has partnered with Transport Corporation of India Limited (TCIL) to facilitate real time payments for truck drivers.
“With this solution, TCIL truck drivers receive an instant credit into their bank account, which they can then swipe at terminals or withdraw cash using ATMs,” DBS Bank said in a statement on Tuesday, adding that given the large volumes of transactions, and round-the-clock nature of the operations, it proposed setting up a UPI-based real-time payments solution which is available 24x7x365.
The solution has been set up under the aegis of National Payments Corporation of India (NPCI). DBS RAPID (Real-time APIs by DBS) and UPI payments, provides a seamless integration with the company’s Enterprise Resource Planning (ERP) system, it further said.
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