- Consumer can now pay through UPI compliant Apps like BHIM and other Bank Apps
- Instant Payment can be done by scanning the QR code printed on bills or direct insertion of Dynamic UPI ID (VPA)
- Flat Cashback of Rs.50 on first bill payment per user
Further enhancing consumer convenience, Tata Power Delhi Distribution (Tata Power-DDL) has made live a new and easy payment mode for its consumers - Unified Payment Interface (UPI) in collaboration with YES BANK. Now, Tata Power-DDL consumers can easily make payments through UPI by using their smartphones to scan the Dynamic QR code printed on the bills (both Physical & E-mail) through UPI compliant Apps like BHIM YES Pay, PhonePe or any other UPI compliant apps. Consumers can also make payments directly using UPI ID/VPA (Virtual Payment Address) which is TPDDLY<CA No.>@yesbankltd).
Tata Power-DDL UPI – Benefits Galore!
How to get it:
· Customer should have a bank A/C
· Mobile number should be linked with bank A/C
· Smart Phone with internet facility
· Debit Card for re-setting UPI PIN.
· Download the App for UPI
· Register on the App with A/C details
· Create a UPI ID
· Set UPI PIN
What is required for Transaction:
· Smartphone with internet facility
· Registered device only
· Use registered UPI PIN
· Self Service Mode
UPI is a digital payment architecture rolled out by National Payments Corporation of India (NPCI) using advanced digital payment features with mobile phone as the main device. Consumers can simply download their preferred UPI compliant app and register their mobile device with their bank account to create a Unique UPI ID and UPI PIN post which they can start doing transactions. UPI has a strong feature of seamless Single Click Payment with 2 Factor Authentication. This means consumers can simply make the payments in minimal steps (by scanning the QR code on the bill or by entering the UPI ID mentioned above) while making the transactions more secure with UPI PIN.). Additionally, the usage of a UPI ID lends more security to the transactions removing the need of sharing any banking credential like Name, Account number, IFS Code etc. UPI is available 24X7 and ensures real time credit which leads to seamless bill payment experience for consumers.
By direct usage of VPA (Virtual Payment Address)/UPI ID, consumers do not need to remember any details and make payment just by punching their electricity connection number and amount of electricity bill. The facility of making utility bill payment, directly using the dynamic VPA, is introduced first time in Delhi, by the Tata Power-DDL and YES BANK.
As an introductory promotional plan of payment through UPI, YES BANK is also offering a flat cashback of Rs.50, on first electricity bill payment per user and same will be adjusted in consumer’s future electricity bill of Tata Power-DDL.
On the occasion of introducing UPI for consumers of Mr. Praveer Sinha, CEO&MD, Tata Power-DDL said “Tata Power-DDL has a remarkable journey of developing a cashless consumer friendly payment system in the utility space. The introduction of UPI based payment solutions for our consumers is another step in the direction. Today, with a sizeable percentage of payment received through online modes, we lead by example and contribute our bit towards the Digital India programme, which promises to transform India into a digitally empowered society by focusing on digital literacy, digital resources and collaborative digital platforms.”
Commenting on the development, Ritesh Pai, Chief Digital Officer, YES BANK said, “YES BANK, since inception, has been a pioneer in innovating digital technologies to ease financial transactions. We are pleased to partner with Tata Power-DDL to implement this unique QR code based bill payment facility powered by our state-of-the-art UPI solution, offering a seamless and quick payment solution to the customers. We are happy that we have been able to identify various payment needs of consumers across the country and have built leadership in UPI with a market share of 70% in Merchant Payments on the UPI platform.”
About Tata Power Delhi Distribution
Tata Power Delhi Distribution Limited is a joint venture between Tata Power and the Government of NCT of Delhi. Tata Power-DDL distributes electricity in North & North-West parts of Delhi and serves a populace of 7 million. Tata Power-DDL has been the frontrunner in implementing power distribution reforms and is acknowledged for its consumer-friendly practices. Since privatization, the Aggregate Technical & Commercial (AT&C) losses in Tata Power-DDL areas have shown a record decline. Today, AT&C losses stand at 8.59% which is an unprecedented reduction of over 82% from an opening loss level of 53% in July 2002. The World Bank in its 2017 ‘Doing Business’ Report has acknowledged Tata Power-DDL’s contribution towards improving the ease of getting electricity connection by making the process for getting a new connection simpler and faster. The same has also contributed in an improvement in the ranking of India in ‘Getting Electricity’ by 44
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK 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. YES BANK operates its Investment banking, Merchant banking & 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 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/