S. Vishnu Sharma
Yes Bank digitizes – Yes Bank has empowered eight leading educational campuses by enabling digitization across India through cashless payment solutions.
In light of the COVID-19 situation, Yes Bank has successfully partnered and helped the institutions achieve their vision of going cashless, while enabling payment of fees and other campus expenses through secure digital solutions.
Yes Bank digitizes
The innovative solutions of Yes-Bank have helped in reducing the turnaround time for transaction processing and are in-line with strategy of Yes-Bank to build a transformed digital bank.
Yes Bank aims to provide convenient and seamless payment experience through a mix of solutions including offline UPI (Unified Payments Interface) having VPA (Virtual Payment Address), QR Code based payments (Scan-and-Pay), dynamic VPA based collections and Payment Gateway options.
Yes Bank digitizes
Yes Bank has equipped these institutions with technology and created an eco-system to go to 100% cashless.
Some of the institutions to be equipped with the solution of Yes Bank are Emmanuel English Higher Secondary School (Silchar, Assam), New Oxford School (Silchar, Assam), Shri Ram Centennial School (Agra).
The other educational institutions to be equipped with the solutions of Yes Bank are Uttam Institute of Management Studies (Agra), G.D. Goenka Public School (Agra), Mussoorie International School (Mussoorie).
Whistling Woods International of Mumbai and Silver Bells English Medium School (Nashik) are also the educational institutions to be equipped with the solutions of Yes Bank.
The benefits of the utilising the solutions of Yes-Bank are that payments and transactions can be done on round-the-clock basis as per the convenience of the individual, from the safety and comfort of their homes through any UPI App.
The other benefit of Yes Bank solution is it eliminates the use of cash for collections of fees, especially during the COVID-19 situation.
Another advantage of utilising the solution of Yes Bank is that its a seamless VPA/QR code-based transaction without the need to integrate with any payment system.
Yes Bank digitizes
The solution provided by Yes Bank is cost effective for institutions, as the transaction cost is nil and cash handling charges are eliminated.
The solution of theBank is fully secure as it eliminates the need to enter bank details or any other sensitive information like account number or debit card information for every transaction.
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The solution of the bank also has a dashboard provided to the institutions for reconciliation of various MIS, transaction updates and reports.
Chief digital officer of Yes Bank Ritesh Pai said their bank is privileged to help the institutions in the journey of transforming their campuses into a truly cashless ecosystem.
Digitizing educational institutions will encourage students to adopt digital payments in their formative years and gradually transform India into a digitally empowered society, he said.
‘The solutions are a step towards revolutionizing the payments infrastructure across education campuses in India.’
We look forward to collaborating with other institutions for many more similar innovative digital initiatives, he said.
About Yes Bank
Yes Bank is a high quality, customer centric and service driven Bank. Since inception in 2004, it has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.
The bank operates its investment banking, merchant banking and brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank.
Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
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Yes Bank digitizes – At the bank, they have identified specific growth sectors of the Indian economy and developed customized solutions for industry verticals.
Specialized Knowledge Banking divisions have been institutionalized within the Bank to spearhead our knowledge focus.
It also has dedicated Knowledge Bankers – experts from the industry – to offer invaluable and in-depth insights into your business, thus helping you to develop great ideas and nurture them to fruition