CentPay : Lifestyle & Beyond 2.0.50

Central Bank of India provides a Unified Payment Interface (UPI) application that enables customers to register with the bank and link their accounts from other banks. Through this application, customers are empowered to make payments and initiate money collection requests for their beneficiaries. The Payment Address serves as an abstract representation to identify account details, ensuring the confidentiality of the information. By adding accounts from various banks, customers can efficiently manage their accounts within a single application.

The key features of the Unified Payments Interface include:

• a) Facilitation of payments through mobile applications
• b) Initiating payments as both the sender (payer) and receiver (payee)
• c) Secure transactions conducted in compliance with existing RBI guidelines
• d) Ability to make payments using Virtual Address, Account Number & Indian Financial System code (IFSC), Mobile Number & MMID (Mobile Money Identifier)
• e) Secure payment process incorporating 1-click 2-factor authentication, Biometric Authentication, and the use of the payer’s smartphone for secure credential capture

Below are the transactions supported by Cent UPI:

• 1. User profile registration
• 2. Creation of Payment addresses
• 3. Addition of bank accounts
• 4. UPI Mandates
• 5. UPI transaction PIN generation
• 6. Payment requests using Virtual Payment Address, Account+IFSC, and Mobile+MMID
• 7. Collection requests using Virtual Payment Address
• 8. Approval of collection requests
• 9. Transaction history
• 10. Filing complaints
• 11. Managing Payee

Requirements for using UPI:

• - A smartphone with internet services
• - An active bank account
• - The mobile number registered with UPI must be linked to the bank account
• - An active debit card associated with the selected account for creating an mPIN