Online CSP is a Business Correspondent and Technology Service Provider to multiple banks. It has partnerships with few of the biggest banks in India like State Bank of India (SBI), ICICI Bank, Yes Bank. Online CSP leverages existing retail shops, telecom connectivity and banking infrastructure to extend branchless banking services to a common man.
Make your shop Mini bank & provide basic banking services to your customers!!! Kiosk Banking under Ruler banking Authority BC model aims to provide a real time, user friendly banking services to the consumer in their neighborhood. kiosk Pay Point India has been a National ‘Business Correspondent’ for the SBI/PNB/BOB/UBI/CBI since 2011 under Ruler Banking Authority ( Online CSP) As per this arrangement online csp pvt ltd is authorized to provide Kiosk Banking under Ruler banking Authority service to its present retail network and create new Kiosk Banking under Ruler banking Authority agents across the country.
About SBI Kiosk Banking under Ruler banking Authority
A large number of people, particularly the migrant laborers and factory workers do not have a saving account and even not able to open an account due to lack of valid address and ID proof. As a result they face difficulties to save their earnings in a safe place and look out for solution to send money to their families.
Through the Kiosk Banking under Ruler banking Authority solution the following services can be offered:
Tatkal Money Transfer to any Bank account
Open ‘Non-Frill accounts’ by Kiosk Banking under Ruler banking Authority module
Deposit / Withdrawal of Cash
Aadhar and Rupay card registration
Current Account/Term-Deposit/Recurring Deposit
Loan lead generation & repayment
Commission of subsidy granted to customers
What does the retailer get ?
Association with Concerned Bank.
Bank software, user id and password
Biometric Reader & Software for electronic thumb impression
Web Software to operate different service (Recharge/Billing/Travel Solution)
Authorization Certificate of CSP
Web + Concerned Bank Banners
Introduction letter of CSP
Benefits to Retailer through Onlinecsp pvt ltd:
An easy to use application
Hassle free and simple system
New Revenue opportunity
Increase your goodwill & brand name in market
Banking Business increases customer footfall which is beneficial for existing Business
What does the retailer need?
Office or Retail Outlet
What documents are required?
Bank Guarantee minimum 1 lac.
Self Sign Cheque
2 passport size photo’s
PAN Card (Mandatory)
Id Proof (Voter id/Driving License/Passport etc.)
Shop Address proof
Resident address Proof (electricity bill, ration card etc.)
Application – Activation Process
Application Form and Registration fees received by Pay Point team
Due diligence by PPINL compliance Team
Application file to local branch
CSP code received
BC entry and Terminal mapping by officials
Welcome kit and scanner dispatched
Training after kit received
Entire process usually takes 25-30 days
Please note: Activation of Kiosk Banking under Ruler banking Authority service is subject to approval from Bank Activation Process.