Karur-based Karur Vysya Bank’ s Chief Executive K. Venkataraman has rolled-out of three technology services FASTag, UPI and BBPS.
FASTag : The FASTag service has been launched in association with the Indian Highways Management Company, a subsidiary of National Highways Authority of India.The preloaded tags affixed on vehicles are valid at all toll plazas throughout the country.
UPI app : United Payments Interface (UPI) is a mobile app that enables inter-bank transfer of funds. The transfer is effected through the IMPS (Immediate Payment Service) platform of NPCI (National Payments Corporation of India).
BBPS : BBPS (Bharat Bill Payment System) will make utility bill payments such as electricity bills, water charges and gas cylinders, among others, at a single site instead of accessing multiple sites.
Source- The Economic Times