Frequently asked questions
MCP point is a UPI-assisted service for your customers. It replaces cash, and the nodule bank accounts of the BCs, wallets by facilitating UPI transactions of your customers.
Simply put, today, any UPI app where the user needs to do transactions all by themselves, MCP facilitates UPI transactions between your customers with your (Bank Mitras) help.
We facilitate UPI card creation for your customers, where in the market, there are agencies that help in Aadhar Card, Pan card creation/update. You’ll be among the first ones to give UPI ID cards to your customers, which will include a UPI QR. Your customers do not need to have a smartphone or an App.
Assisted UPI Fund Transfer is a service where you, as a Bank Mitra, help customers link their bank accounts to UPI and facilitate payments. This is especially useful for customers who may not have smartphones or internet access.
Key differences from regular DMT:
No Nodal Account: Transactions happen directly from one bank account to another without any intermediary account.
Feature Phone Compatibility: Customers can make payments using feature phones with your assistance via the MCP Point app.
Versatile Payment Options: Payments can be made to another bank account or even through QR codes, such as for e-commerce purchases or railway ticket bookings.
Yes, your existing customers will greatly benefit from Assisted UPI Fund Transfer because:
They are primarily cash-driven customers who will now enjoy the convenience of digital payments.
Problems like handling soiled notes, stolen wallets, or carrying cash will disappear as transactions happen directly from their bank accounts.
Digital transactions create a history that may make them eligible for loans or government schemes promoting digitalisation.
As a Bank Mitra, you play a pivotal role in educating and assisting your customers:
Help them onboard UPI by linking their bank accounts.
Guide them step-by-step through the payment process using the MCP Point app.
Explain the benefits of digital payments, such as convenience, security, and elimination of cash-related issues.