Friday, 3 October 2014

IMPS Merchant Payment is still a Challenge

IMPS Merchant Payment is still a Challenge

I was excited to see that ebay India was listed as one of the IMPS (Immediate Mobile Payment System) P2M (Person to Merchant) for online shopping. I decided to try them out for my next buy.

So, this weekend when was checking out from ebay, I decided to choose IMPS option. I usually use two banking accounts, HDFC and ICICI Bank. And both I realized did not support P2M OTP (one Time Password) generation. I also have Oxigen wallet, but since it was listed separately, and I know it works, so I tried using HDFC and ICICI banks. After two blotched attempts, and time outs, I realized that both these banks don't support P2M OTP transactions.

I did not try out SBI, as much earlier, I had given up on SBI, due to their attitude as well as their online banking User Experience. I had posted. one of the samplers captured aptly by a SBI customer earlier at G+

Thus, my conclusion is that the P2M User Experience (UX) needs to improve, it should be similar to that of a credit card transaction flow.

For example:

1. Shopper selects IMPS when checking out of online portal, Mobile number and MMID is asked once and can be saved in the profile for later re-use.

2. The shopper receives a OTP via a SMS on her registered mobile.

3. Shopper is promoted by the online for the OTP.

4. Transaction completes, confirmation is sent by the bank to shopper's mobile.

The SMS OTP gateway should ideally be managed by NPCI, for a uniform customer experience.

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