Private lender YES Bank has launched an ‘SMS Pay’ functionality on POS terminals, which would allow merchants to accept contactless and remote payments from their customers. YES Bank has collaborated with French payment services company Worldline to launch the new facility.
About SMS Pay:
- SMS Pay will facilitate merchants to accept remote payments on their POS machines and enable their customers to transact safely without leaving the comfort of their homes.
- Through SMS Pay, local merchants & department stores could request payments from their customers by entering their contact details in the POS terminal following which an SMS would be triggered to the customer’s mobile number instantly, with a payment URL link.
- Customers can complete the payment through their domestic debit and credit cards.
Important takeaways for all competitive exams:
- YES Bank MD & CEO: Prashant Kumar.
- YES Bank Founder: Rana Kapoor.
- YES Bank Founded: 2004.
- YES Bank Headquarters: Mumbai, Maharashtra.