BANKING AFFAIRS

Detailed explanation-1: -Baroda PayPoint is a web/mobile-based online/offline payment collection portal, providing an easy interface between Merchant and consumer for secured payments using online and offline mode by shielding them from underlying complexity of payment transactions and integration with electronic fund transfer switches.

Detailed explanation-2: -It is a Non-Banking Financial Company, wholly owned by Bank of Baroda, one of the top banks of India. The Company’s primary business is credit cards and merchant payment processing partner of Bank of Baroda merchant acquiring business.

Detailed explanation-3: -Users can choose any method of payment according to their convenience and pay outstanding bills as per the due date. The online payment modes available to Bank of Baroda credit card holders can use the following offline payment options-Cheques, Auto Debits, Drafts or Cash payments at branches.

Detailed explanation-4: -Bank of Baroda provides a facility, to receive payment online from any debit/credit card, net banking (through aggregator) of more than 34 banks called ‘Baroda e-Gateway’ (Internet Payment Gateway), which is a safe, secure and trusted payment solution for e-Commerce/online business.