Arunachal Pradesh State Co-operative Apex Bank on 7 December 2016 launched Mobile Banking Service named SIMsePaY. The service was launched in collaboration with the Yes Bank Ltd.
The SIMsePaY service was launched by the State Industries and Cooperation Minister Tamiya Taga is aimed at helping bank customers’ in their cash crunch problem.
The SIMsePAY mobile service operates on simple phone handset on SMS without the internet. It would be very helpful for rural areas where there is no internet network.
While launching the service, the minister also appealed its 1.75 lakh customers to use the mobile banking service for payments of their utility bills, transfer of funds and other services for hassle-free cashless business. He asked the bank management to adopt the technology and provide efficient and effective services to its customers.
Besides, he also asked the bank to survey more areas in remote locations for opening new branches. He advised the bank to offer small loans to self-employed people and launch the vigorous drive for loan recovery.
Arunachal Pradesh State Co-operative Apex Bank is CBS enabled and extends various services like DBT, ATM, NFF and RuPay Debit cards to its customers.
Earlier in the first week of December 2016, Yes Bank announced that it has plans to launch digital banking services in various states, including Arunachal Pradesh, Bihar and Goa. It was supposed to launch the same facility in association with the Taisys Technologies that started its India operation a year ago. Taisys has indigenously developed the banking solution in cooperation with Yes Bank.
The SIMsePAY service was launched in Dehradun on 30 November 2016.