Smart POS (Point of Sale)
Definition POS stands for Point of Sale. A Smart POS is a modern payment device that supports card,…
Bank Ombudsman
Definition The Bank Ombudsman is an official appointed by the Reserve Bank of India (RBI) to resolve complaints…
Voice-Based Payments
Meaning Voice-Based Payments use speech recognition technology to make transactions through spoken commands. How It Works Users give…
Base Rate
Definition The Base Rate is the minimum interest rate set by the Reserve Bank of India (RBI) that…
USSD Payments (*99#)
Full Form & Meaning USSD stands for Unstructured Supplementary Service Data. USSD Payments (*99#) allow mobile banking without…
Unified Grievance Redressal
Definition Unified Grievance Redressal is a system that helps customers raise and track complaints related to digital payments…
Virtual Card
Meaning A Virtual Card is a digital version of a debit or credit card created for secure online…
Two-Factor Authentication
Meaning Two-Factor Authentication (2FA) is a security process that requires two verification steps to complete a transaction. How…
Beneficiary
Meaning A Beneficiary is the person or entity who receives money or benefits from a transaction, insurance, or…
Video KYC
Definition Video KYC (Know Your Customer) is a digital method of verifying a customer’s identity through live video…