Current Affairs – 30 November 2020

YES Bank launches ‘SMS Pay’ on POS Terminals

Private lender YES Bank has launched an “SMS Pay” feature on point-of-sale terminals, which would allow merchants to accept contactless and remote payments from their customers. YES Bank worked with French payment services company Worldline to launch the new facility.

About SMS Pay:

  • SMS Pay will allow merchants to accept remote payments on their POS machines and allow their customers to securely transact without leaving the comfort of their homes.
  • Using SMS Pay, local merchants and department stores could request payments from their customers by entering their details into the point of sale terminal, after which an SMS would be instantly triggered on the customer’s mobile number, with a URL link. of payment.
  • Customers can make payments through their national debit and credit cards.

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