11th of January 2010 saw the nation wide launch of XPAY - The Convinient, Swift and Secure payment facility, powered by UAE Exchange & Financial Services Ltd., the pioneer in financial segment in India. UAE Exchange, a group company of NMC Dubai, passed another milestone in the payment sector by the launch of XPAY. It became the first Private Financial Company in India to receive a license from RBI to make such payment, that too in a unique way.
What is XPAY?
According to the FAQ section of the XPAY website, XPAY is a virtual pre–paid account in which customer can load money & make payment via Internet or mobile!
That mean, you can pay your utility bills, recharge your mobile phone, or even pay to the local grocery store without moving aroun with cash in hand.
What are the modes of Payments?
Payment can be done through
1. Mobile Application (Need GPRS for that)
2. IVRS Solution
3. Internet
How can I register for Xpay?
Contact one of the 235 + branches of UAE Exchange in India. or Visit www.xpayindia.com for registering online. More modes of registrations will be launched soon.
What are my benefits?
1. Less time for a transaction
2. An extra payment option for the merchant and customer
3. Reduced burden of carrying cash/plastic money
4. No special equipment needed other than a GPRS enabled mobile phone
5. Referral benefits and a lot more.
How secure is xpay?
Once you become a Xpay user, for your security you will need to enter your unique 6-digit MPIN code every time you make a payment transaction. This PIN number is NOT stored on your handset, so hacking your stolen handset will not put you at risk.
XPay mobile application works in an encrypted form where by 128-bit end-to-end financial grade security from the user's handset through to the application servers. Even if you lose your phone, unauthorized users cannot access XPay without your unique MPIN code. What's more, you can simply call XPay Customer Care in 1800 2002 123 or Email: xpay@uaeexchange.co.in to block the ID of customer/merchant.
The Mobile application or IVRS system works only through registered mobile handset and cannot be accessed from other mobile phones or phone numbers. This will ensure that even if MPIN is leaked out the transaction could not be happen through any other mode or mobile. XPAY have also given provision to the user to change the MPIN as and when required through Internet/mobile application and IVR System.
If your mobile turns off or loses connection during a transaction due to either low battery charge or bad connectivity, rest assured that your account will not be debited. Charges are debited to your account only on the successful completion of a payment transaction. At any point , you can check the Balance account or Transaction history through mobile phone/ Internet or IVR system ( call 93877 12345) to check for the updates.
For more info call the toll free number 1800 2002 123 to speak to a customer care executive or visit www.xpayindia.com.
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