eFinclusiv 2.0 is aimed at enabling digital financial service providers offer secure, low-cost financial tools that expand the usage of digital banking products across diverse customer groups, and moderate and low-income segments.
To improve transacting ease and convenience for customers, FSS eFinclusiv 2.0 has added support for UPI, India’s most popular payment instrument, to withdraw funds. Banking correspondents outfitted with a micro-ATM initiate a withdrawal request on behalf of the customer by entering the UPI virtual private address and PIN. Customers can view their bank account balance before confirming the payment, and the money is instantly debited from their account.
FSS eFinclusiv 2.0 services are available on a licensed as well as a SaaS model on FSSNeT, FSS private cloud. FSSNeT supports pre-integrated connectors to bank systems and the AEPS network enabling digital financial service providers to onboard in less than three weeks.
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