Netbanking 2.0: NPCI's pilot to ease mobile payments

You're about to make a payment for a purchase on a popular e-commerce website from your mobile, but your bank doesn't show up in the net-banking list.

- Anshika Kayastha

MUMBAI: This stumbling block faced by many consumers may be fixed if a pilot rolled out by the National Payments Corporation of India (NPCI) last month works out.

Why such problems occur is that merchant platforms such as Amazon and Flipkart typically tie up with payment aggregators or gateways such as CCAvenue and PayU, which in turn individually partner with multiple banks to enable netbanking. This involves individual reconciliation with each bank and then settlement with the merchants.