On the eve of Christmas, Model Co-operative Bank introduced UPI – Unified Payments Interface to its mobile banking application. UPI Interface attracts the younger generations with features like Google Pay or Phone pe.
The interface was inaugurated at the Board of Directors meeting by the Chairman of the Bank, Albert W. D’Souza in the presence of directors including the Vice-Chairman William Sequeira.
With the introduction of the interface to its mobile app Model Co-op Bank has levelled with leading banks across the country in terms of offering banking services. This product will increase the bank ‘s appeal to the younger generation that want banking services on the tips of their fingers or touch of a screen, says a press release.
UPI is a smooth, secure and free for customer transaction system that makes doing even transactions of small amounts effortless.
Some of the reasons why people choose UPI are – free fund transfer, Instant transfer (24×7), useful for small purchases, privacy of bank account (as account number is not shared), Secure (Card, Card number and CVV not required), One App for many accounts, Various options of Apps to choose from (any App can be used eg. Google pay, Phone pe, Paytm, SBIPay, Mobikwik etc) and can also request for money (receive money).
The bank continuously upgrades its products and services keeping the customer in mind, claims the release. The customer-centric culture of the bank can be experienced in the efficient, professional and courteous service provided at its 25 branches, which is aptly illustrated by the bank in 3 words – ‘Your Development Partner’, the release adds.
Earlier, in the beginning of the year Model Co-operative Bank had won the 1st prize for the overall best performance in the category of deposits above Rs.1000 crore among cooperative banks for the financial year 2018-19. Maharashtra State Co-operative Banks’ Association has given away the prize. Maharashtra Deputy Chief Minister of Maharashtra, Ajit Pawar and Co-operation Minister, Balasaheb Patil has presented the award to Model Co-operative Bank.
The Bank has its roots in the Mangalorean Catholic Co-operative Credit Society, which was registered on 26th April, 1916. The Bank, has completed 103 years of its foundation. The Bank had launched Mobile Banking app on 28th January 2020.
