BANKING AFFAIRS

Detailed explanation-1: -PayPoint India has entered into a partnership with Bank of Baroda, enabling the bank to further expand its network by utilising PayPoint’s customer service points to a reach out to a larger pool of customers and achieve a bigger geographical spread.

Detailed explanation-2: -The cooling period for this limit is 24 hours. After 24 hours, the transaction limits will be relaxed to the normal transaction limits as mentioned above.

Detailed explanation-3: -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-4: -Visa itself is s credit card processing network. Its cards (credit, debit, prepaid, gift) are accepted by merchants in over 200 countries and areas across the globe. Another credit card processing networks are Mastercard, American Express, and Discover. Financial institutions (like banks) choose Visa as a partner.