Bank of Baroda Unveils bobइPay UPI Payments PSP App with Exciting New Features
Mumbai: On its 117th Foundation Day, Bank of Baroda unveiled several new digital initiatives, including the introduction of an AI-powered virtual assistant and a new payments app called bobइPay. This launch underscores the bank’s commitment to enhancing customer experience and digitizing banking services. “On the Bank’s 117th Foundation Day, we are pleased to launch a wide range of initiatives and offerings that promise to delight our customers across the spectrum – retail, agri and corporate banking customers,” said Debadatta Chand, MD & CEO, Bank of Baroda.
The bobइPay UPI Payments PSP App: Features and Innovations
The highlight of Bank of Baroda’s new digital offerings is the bobइPay UPI Payments PSP app, which is poised to revolutionize the way customers conduct transactions. This app comes with a slew of user-friendly features:
- Scan to Pay: Effortlessly make payments by scanning QR codes.
- Send/Receive Money: Seamlessly transfer funds with just a few taps on your smartphone.
- UPI LITE: A feature designed to enable quick, small-value transactions with minimal steps.
- RuPay Credit Card on UPI: Utilize your RuPay credit card for transactions via UPI.
- International Payments: Make payments globally without hassle.
Additionally, the app incorporates the “Tap and Pay” contactless payment method using NFC technology. This allows for quick and secure transactions by simply tapping your device, enhancing convenience, especially in the current era of contactless payments.
bobइPay vs. Other Payment Apps
With so many payment apps available, you might wonder what makes bobइPay stand out. Let’s highlight some key differences:
- UPI Global Functionality: Unlike many domestic-focused apps, bobइPay facilitates international transactions, making it easier for frequent travelers to manage payments abroad.
- Simplified IMPS Payments: On the bob World mobile platform, IMPS payments have been simplified. Customers no longer need to remember detailed bank information; transactions can be completed using the recipient’s bank name and registered mobile number.
- BKCC Integration: The BOB Credit Line on UPI feature allows Baroda Kisan Credit Card (BKCC) customers to link their KCC accounts to UPI for easy payments. This is particularly intriguing as it merges the convenience of UPI with the accessibility of pre-sanctioned credit lines.
These innovations not only enhance convenience but also integrate advanced functionality that sets bobइPay apart from its competitors.
Other Digital Initiatives
The bobइPay app is part of a broader suite of digital initiatives launched by Bank of Baroda:
- GenAI-Powered Virtual Relationship Manager (VRM): This AI-based assistant provides real-time assistance in multiple languages through video, audio, and chat interfaces, helping customers with tasks like account statements, cheque book requests, and more.
- Digital BKCC: In collaboration with the Reserve Bank Innovation Hub (RBIH), the Digital BKCC integrates the Baroda Kisan Credit Card with an advanced tech platform for a fully digital loan process.
- Baroda mDigiNext Mobile App: Aimed at corporate customers, this app simplifies bulk payments, transaction tracking, and account management.
- bob World Wave Smart NFC Sticker: This innovative sticker uses NFC technology for quick payments and can be attached to personal items for ease of use.
Bank of Baroda also revamped its Customer Contact Centre with voice and IVR systems in multiple languages, and introduced dedicated desks for senior citizens. These are complemented by the launch of seven pilot “phygital” branches integrating traditional and digital banking services.
Commitment to Green and Social Initiatives
Apart from the technological advancements, Bank of Baroda also showed its commitment to environmental and social responsibility. The bank initiated a green drive to plant 1.17 lakh trees and collaborated with a tribal community in Kerala for support. Additionally, two CSR activities were launched in Mumbai and Bhubhaneshwar.
The launch of the bobइPay app and other digital initiatives by Bank of Baroda represents a significant step forward in customer-centric banking. With these new features, the bank aims to provide seamless, secure and convenient services to its diverse customer base.
Stay tuned for more updates as we continue to bring you the latest in financial innovations!
also read:Bank of Baroda Unveils bobइPay UPI Payments PSP App: Features and Availability Explained