Excelsior Correspondent
JAMMU, July 26: To facilitate customers with quick and seamless UPI transactions, J&K Grameen Bank today launched QR code with sound box which allows users to scan a QR code using their smartphone to make digital transactions and the device plays a confirmation sound to indicate the payment received.
The product was launched by Chief General Manager NABARD, Regional Office Jammu, Bhallamudi Sridhar at J&K Grameen Bank Head Office Narwal in presence of Chairman, J&K Grameen Bank, Sanjay Gupta.
Also present on the occasion were Deputy General Manager NABARD, Ratan Lal; General Manager JKGB, Suresh Chandra Sharma; Chief of AI&V JKGB, Shiv Dev Singh, HODs from various departments and other officials of NABARD and JKGB. General Manager, Kashmir Parvaze Ahmad Mir and Regional offices/branches of the bank were connected through VC.
Speaking on the occasion Bhallamudi Sridhar lauded the efforts of team IT & DAC headed by HOD IT, Sajad Wani and In-charge DAC Ishan Wali.
CGM NABARD emphasised that the Bank should make full use of the facility in covering all the MSMEs and ensure wider reach of the product in J&K and Ladakh. He said, besides promoting digital transactions, it is good for CASA and can help the Bank to lend swift loans to MSMEs on a cash flow basis, in addition to existing asset-based lending.
Speaking on the occasion, Chairman J&K Grameen Bank said that with a focus on enhancing Bank’s reach in digital payments, QR code with sound box is part of their commitment to strengthen the digital platform of the bank and enhance customer-experience.
QR Sound Box will help small merchants running their activities easily without the problem of reading SMS each time when a client makes a payment.
QR code with sound box is a device though which UPI transactions can be carried out from any UPI app by scanning the QR pasted on the device. Once the payment is successful, it makes a loud sound alert to notify the merchant and customer that the payment has been received.
One of the main advantages in the product is that merchant has the option to download mobile app which besides other features shows all the transactions done on particular date including the daily sales and settlements, which will definitely boost digital platform for JKGB.
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