APBS : Aadhaar Payment Bridge System
Bank is offering following NACH services to the Customers
Benefits of AADHAR Card linking –
Direct credit of subsidies from government (for LPG, Kerosene etc)
Direct credit of welfare funds, pensions, scholarships, Policies and ant other payments from government.
The Payflow ACH (Automated Clearing House) Payment Service enables you to electronically collect payments from your customers for either single-entry or recurring payments by directly debiting your customer’s checking or saving accounts.
The most common uses of ACH are online bill payment, mortgage and loan repayment, and direct deposit of payroll. ACH payments are an efficient and cost-reducing alternative to paper cheques and credit cards.
On the Internet, ACH is primarily used for person-to-person (P2P), business-to-customer (B2C), and business-to-business (B2B) payments.
Benefits of ACH Payments
Following are the benefits of ACH Payments
“Provide your customers with an alternative to credit cards and cheques.”
“Offer lower-cost payment than either cheques or credit cards.”
“Faster payments than using cheques.”