Mumbai (Maharashtra) [India], February 13: PayPoint, a leading financial services provider, has entered into a strategic partnership with Central Bank of India to enhance the bank’s reach and accessibility across the country. By leveraging PayPoint’s extensive network of Customer Service Points (CSPs), this collaboration aims to bridge the gap between traditional banking infrastructure and customer needs, especially in underserved and rural areas.
The partnership enables Central Bank of India to extend its banking services through PayPoint’s CSPs, ensuring that customers can conveniently perform essential financial transactions without traveling long distances. This initiative aligns with the government’s vision of financial inclusion by providing seamless access to banking services for a broader population.
Speaking on the partnership, Ketan Doshi, Managing Director, Pay Point India Network, said,“This collaboration with Central Bank of India marks a significant milestone in our mission to bring banking services closer to the people. By harnessing our widespread network and technological expertise, we are enabling financial inclusion at an unprecedented scale. This partnership is a step toward empowering millions with seamless banking access, ensuring that no individual is left behind in the financial ecosystem.”
PayPoint integrates advanced digital solutions to facilitate smooth banking operations, reducing transaction wait times and streamlining financial processes. By leveraging state-of-the-art technology, both organizations are committed to providing a secure and user-friendly banking experience.
Through PayPoint’s widespread network, Central Bank of India customers will have access to a wide array of banking services, including:
- Account opening assistance
- Cash deposit and withdrawal
- Fund transfers
- Balance inquiry and mini statements
- Loan collection and recovery
- Enrolment in micro-insurance schemes (PMJJBY/PMSBY/APY)
- Pension Life Certificate authentication via Jeevan Praman
- Loan and insurance product applications (agriculture, personal, home, vehicle, gold loans, life and health insurance, mutual funds)
- Aadhaar and mobile seeding, passbook updates, and cheque services
- Re-KYC for savings accounts
- Other essential banking transactions
The partnership is set to evolve further with plans to integrate additional banking features and expand into more regions. With a shared vision of customer-centric banking, PayPoint and Central Bank of India remain committed to enhancing financial accessibility and empowerment across the nation.
