Understanding M-PAISA under Hello Paisa Platform
M-PAISA under Hello Paisa platform
- M-PAISA is an innovative mobile banking solution which is being re-launched in partnership with Hello Paisa platform. Under M-PAISA, users can use their mobile phones to…
- Transfer money to anyone (Any telecom SIM user, Any Bank customer under Hello Paisa platform and even those who are not registered)
- Request money from friends/family
- Direct air time top-up for himself or for anyone else
- Pay registered merchant for goods purchased
- Check balance of bank account/mobile account
- PULL money from bank account/PUSH money into bank account
- Pay for utility bills such as NTC post-paid, Landline bill and more
- Each service under M-PAISA will need verification (PIN) from user. User will also receive an SMS notification for each and every transaction.
- To use any service under M-PAISA user needs to
- type a specific set of syntax as an SMS and send it to 3650, receive system generated call (Interactive Voice Response), follow the instructions and receive confirmation SMS
- go to Hello Paisa app ( free download for android phone, iPhone, windows phone or any other java enabled phone), click/tap desired service list which will automatically initiate SMS to3650, receive system generated call (Interactive Voice Response), follow the instructions and receive confirmation SMS
- Mobile Account is a transactional account provided to each registered user of M-PAISA which
- can be used to save money like normal bank account and earn applicable interest
- has maximum transaction limit (per transaction/daily/monthly limit)
- can be accessed only through SIM/mobile phone registered during account opening
- is used to conduct all the financial transactions (except account to account transfer of course!)
- Don’t disclose your PIN number to anyone.
- If no IVR call is received, no transaction happens (except in case of Cash-in, where just confirmation SMS is received)
- In case of delay in receiving confirmation SMS, wait for few minutes and ensure you have proper network coverage.
- Call customer service/ Call center (01-4427398) for solution if confusion persists.
- You can visit http://www.hellopaisa.com.np/downloads/ for downloading Hello Paisa App for your mobile phone.
Terminologies that are used often...
- P2P – Person to person money transfer (from one Mobile account to another mobile account)
- A2A – Account to account money transfer (from one bank account to other bank account)
- Push/Pull – Push money into bank account/pull money from bank account
- Self top-up/buddy to-pup – Air time recharge for self/ Air time recharge for buddy/friend
- OTP – One Time Password which is generated during customer sign up
- Cash-in – Depositing money into one’s mobile account
- Cash-out – Withdrawing money from one’s mobile account
- SVA – Store Value Account which is also called mobile account
|As on December 6, 2013