Municipal Corporation of Greater Mumbai (MCGM) in India, a local civic body, has contracted Bank of Baroda for online payments.
Under the contract, the state-owned lender will establish digital payment collection services for a period of five years.
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The move will provide the local people with another alternative digital option to make all payments and dues to the civic body.
The consumers can use several modes including UPI, QR code, payment cards, BHIM, IMPS, net banking and e-wallets to make such payments.
All the services will be available free of cost, reported PTI. Also, Bank of Baroda will offer the all facilities with zero merchant discount rate (MDR).
Bank of Baroda secured the contract through a competitive bidding process. The bank’s spokesperson told the news agency that the bids were invited in September last year.
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By GlobalDataMCGM is the governing civic body of Mumbai, the capital of the state of Maharashtra. The civic body’s role encompasses civic infrastructure and administration duties.
On the other hand, Bank of Baroda is one of the largest state-owned lenders in India.
Two other state-owned lenders, namely Dena Bank and Vijaya Bank, were merged with Bank of Baroda last year.
The merged entity has around 9,500 branches, 13,400 ATMs and more than 120 million clients. The bank offers personal and business banking services.
