YES Bank sees good biz from e-payments

Coimbatore, July 17

Despite its limited branch network, YES Bank foresees huge business opportunity from its e-payment solutions offering. It has seized this opportunity by providing its customers online updates.

The bank is among a few private sector and foreign banks to offer transaction banking service. ‘While others too offer this service, we have created a niche by providing online updates,’ its President (Transaction Banking), Mr Suresh Sethi, told Business Line over phone.

The gamut of offering includes cash management, capital market and trade, and trade finance services.

Asked to quantify the business volume, he said ‘we are currently doing Rs 500 crore of transactions (in value terms). Around 200 customers are using the e-payment solutions, but each is on a different level of sophistication.’

But he was evasive on investment in this technology.

Taken from Business Line

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