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Federal Bank has launched Scan N Pay, a mobile-based payment app for making any kind of payments.
The comfort and convenience of a mobile, simplicity of a QR (Quick Response) code, credibility of IMPS (Immediate Payment Service) facility from NPCI (National Payment Corporation of India), and the security of MPIN (Mobile PIN) – all converges into this new application.
The app was launched by A.P.Hota, Managing Director and CEO of NPCI, here on Monday at Federal Experience Centre near Cochin International Airport, Nedumbassery.
Scan N Pay is a world-class utility developed in-house by the bank. It is currently enabled on Android phones and will shortly be made available on iOS, Windows and BlackBerry phones, a press statement issued here said.
Though Scan N Pay will be initially available for Federal Bank customers, the bank has plans to onboard customers of other banks that offer General IMPS service from NPCI.
The app is freely downloadable from app stores and the activation process is simple. It is the same for merchants/Web sites and customers; all hassles related to manual payments like long queues, coin shortage, soiled notes etc. are dispensed with; all hiccups associated with card payments such as the need for carrying cards, pos machine faults, need for signature on receipts, safe keep of receipts, card frauds etc. are done away with.
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