*99# Digital Payment Service (ENABLING ALL INDIANS TO GO DIGITAL)
An innovative payment service * 99 # service launched by the National Payments Corporation of India (NPCI), which operates on Unstructured Supplementary Service Data (USSD) channel. This service was introduced by incorporating the capability of mobile banking and the need for immediate low cost remittance, which will help financial banking and inclusion of under-banked society in mainstream banking services.
Understand *99 #
Banking customers can avail the benefits of this service by dialing “99 #, a common number in all telecommunication service providers (TSPs”) on their mobile phones and through an interactive menu displayed on the mobile screen.
* 99 # The major services offered under the service include interbank accounts ranging from fund transfer, balance inquiry, mini statement to other services. * 99 # Services are currently being provided by 55 leading banks and all GSM service providers and it can be accessed in various Indian languages including Hindi and English.
This is a common technology platform developed by NPCI, which allows banks and TSPs to provide large-scale banking services to customers on a mobile phone (originally as well as smartphones) seamlessly.
* 99 # Highlights
- There is no need for data / internet to transact.
- The account provides basic banking transactions such as check balance, send money, mobile PIN (MPIN) management.
- Aadhaar provides value-added services such as linked overdraft status and PMJDY account overdraft status check.
- Works without the Internet – uses voice connectivity
- Twenty-hour availability (also works on holidays)
- Accessible through a common code * 99 # across all TSPs
- Works on all GSM service providers and mobile handsets
- Additional channels for banking and major catalyst for financial inclusion
- Service was also provided through BC micro ATM to serve rural population
- Available in many languages.
* 99 # Non-financial transactions
- Balance Inquiry – The user can check the available balance of the bank account linked to his mobile number.
- Mini Statement – The user can generate mini account statement for the bank account linked to his mobile number.
- Learn the MMID * (Mobile Money Identifier) - Users can know their MMID, which was allocated by the bank during the mobile banking registration.
- Generate MPIN – The user can generate or set up their MPIN. MPIN or Mobile PIN is like a password and is used to authenticate financial transactions.
- Change MPIN – User can change their MPIN. MPIN or Mobile PIN is like a password and is used to authenticate financial transactions.
- Generate OTP – The user can generate a One Time Password (OTP) which can be used for various transactions in the form of the second factor of authentication.
* 99 # Financial Transactions
- Fund transfer using mobile number and MMID – Users can transfer funds using MMID and beneficiary’s mobile number.
- Fund Transfer using IFSC and Account Number – The user can transfer funds using the IFS code and beneficiary’s account number.
- Fund transfer using the base number – The user can transfer funds using the base number of the beneficiary.
The user can check the available balance of the bank account linked to his mobile number. The flow of transactions to balance inquiry is as follows:
- Dial * 99 # from your mobile handset.
- The welcome screen will ask for short letters of your bank’s 3 letters or the first 4 letters of IFSC to enter.
- After entering a valid IFS code or abbreviated name, the menu will appear with different options for the services available to your bank.
- Enter 1 for balance inquiry and submit.
- A confirmation screen will display the remaining balance.
Note- * 99 # If you have any problems related to the USSD Court or if you want to get more information about it or if you want to solve any problem, then you can visit the National Payment System’s official NPCI website. You can click on the link given below to visit the website https://www.npci.org.in/