PayPoint partners with BoB to expand the bank’s network

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PayPoint India has partnered with Bank of Baroda, allowing the bank to further expand its network using PayPoint customer service points to reach more customers and reach a greater geographic reach.

This decision is part of BoB’s new initiative “BOB NOWW — New Operating Model and Working Methods”, aimed at resizing its branch network by increasing points of contact with customers through digital formats and a network of commercial correspondents (BC). PayPoint will be the BC of BoB.

PayPoint, in a statement, said it will offer multiple services and open savings / PMJDY bank accounts and provide withdrawal, deposit and money transfer services at its proprietary Customer Service Points (CSPs). to British Columbia for BoB.

CSPs will also offer other services such as passbook printing, opening recurring deposit accounts and term deposits, loan repayments, AePS and micro-ATM withdrawals for account holders of other banks and government social security schemes.

Ketan Doshi, Managing Director of PayPoint India, said the partnership will bring banking services to the doorstep of previously unbanked backcountry customers and help them make informed choices and enjoy public services at their own. convenience.


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