Any organisation, like yours, that seeks big growth needs larger innovative thinking. Leading the way is the National Payments Corporation Of India. They have spearheaded the payments revolution, making it simpler and easier to organise payments with a list of innovations – the latest being Authentication with Customer ID & PAN and UPI Payments. Going a step forward are payment collection platforms – which enable these innovations better using better technology that reaches the hands of organisation and people. Partnering with them is the perfect growth catalyst that your vision needs!
Platforms like Paycorp work closely along with NPCI to make payments faster, simpler, and more accurate. Recently, we launched authentication with Customer ID & PAN for a leading bank.
Let’s look how you stand to gain by working with a NPCI empanelled payment partner:
1: Benefit, first, from faster industry evolution
We’ve moved from a cash economy to a digital cash economy faster than most of us can recognise. NPCI has led the way forward towards complete digitisation giving organisations like ours a greater scope to innovate. By hiring a payment partner that’s NPCI empaneled, you get to the innovative methods of payment and collection quicker than most of your competitors.
2: Consistent regulatory compliance
Being NPCI empanelled gives your payment partner a closer understanding of the regulations that your processes need to follow. This will result in your own processes always clearing compliance standards. The advantage will result in you being the preferred choice for customers.
3: Always stay three steps ahead
As you plan your own future organisational growth, you can plan ahead for new products and growth markets with a payment partner that works closely with the regulator. A part of their relationship with NPCI involves having access to key insights and information into upcoming developments, which you can prepare for in advance.
4: Greater industry awareness
As a bank or NBFC, you depend on external technology to drive your payment systems. With a NPCI empaneled payment partner, you can get a wider window into what drives different kinds of customer behaviour, how they can be better served from a technology angle, and the challenges that exist in making your vision a reality?
Selecting the right NPCI empaneled payment partner
Just working closely with NPCI won’t be enough. As with making the best choice of any payment partner, you need to select one that shows better strength to serve your growth plans. There are a few things that you should consider before you make a final choice.
1: Measure their pioneering projects
Given their closeness to the regulator, any platform should be quick to respond to opportunities to develop and release new features. Look out for their list of unique services.
2: What’s their innovation factor?
Compare how much distance different platforms have gone to stand out when delivering convenience and security. A better partner would seek to achieve a product differentiation that clearly makes them one of the better choices.
3:Do they take feedback well?
A good payment partner listens and works to offer better services. Look into feedback mechanisms and experiences of past and present customers. It’s better to work with someone who makes the extra effort to hear your concerns and work on them, proactively.
Paycorp works closely with NPCI empanelled and has been at the forefront of innovation in the industry. One shining example is PAN & Customer ID Authentication – NPCI’s latest introduction – which was done for the first time ever. We actively look at the factors that need to be addressed from the point of view of users, banks and NBFCs.
We made the mandate creation process even simpler, in addition to authentication through debit cards, net banking, and Aadhaar. The result is reduced delays, better customer experience, and increased trust in payment processes.
Call us for a demo today!
