Airtel Payments Bank and HPCL join hands to boost digital Payments

Airtel Payments Bank, India’s first payments bank, customers can now make secure and convenient digital payments for fuel purchase at 887 HPCL fuel stations across Uttar Pradesh East. The announcement was done during the inauguration of Banking Point of Airtel Payments Bankof HPCL fuel station in Kursi Road and Ring road. On this occasion Mr. Sowan Mukherjee (Sales Head Airtel UP East) along with Shri Vipin Ahuja (Airtel ZBM Lucknow), Mr. Saurav Singh ( RM Airtel Payment Bank UP East), Mr. Anuj Kumar Jain (CGM Retail North Central Zone HPCL), Mr. Avinash Jain (DGM Retail North Central Zone HPCL), Mr. Sunil Malhotra( Chief Manager Highway Retailing and Loyalty Cards-North Central Zone HPCL) were present. On buying the fuel from Airtel Payment bank 0.75% Cash back can be received, like buying fuel of Rs.100 the customer will be benifited with 0.75 Paise.

These cashless payments can be made via smartphones (MyAirtel App) as well as feature phones (USSD) and no transaction fee is charged for these digital payments from customers.

All Airtel Payments Bank customers would also be able to access a range of convenient banking services at these fuel stations e.g., open new accounts, make cash deposits and withdrawals facility, and transfer money. This will add to the depth and reach of Airtel Payments Bank’s retail based network that leverages over 40,000 Airtel retail outlets as banking points in the state.
Digital Banking: Quick and paperless account opening using Aadhaar based e-KYC. This requires no documents at all, only the customer’s Aadhaar number is needed.

· The customer’s mobile number will be his/her bank account number.

· Interest rate of 7.25 % p.a.on deposits in savings accounts, the highest in India.

· Money transfer to any bank account in India (Free money transfer from Airtel-to-Airtel numbers within Airtel Payments Bank).

· Free Personal Accidental Insurance of Rs. 1 Lac with every Savings Account

USSD and IVR in 12 languages for non-smartphone customers.

· An online debit card in partnership with MasterCard.

· A nationwide digital payments ecosystem with over three million merchants

Afzal Ali Shah Maududi