Online Collection Products

Indian Bank makes your funds/receipts collection process easy with the solution tailored for matching your requirements through online and offline channels.

• Online Collection– IB Collect / IB Collect Plus (Payment Gateway Services)
• Offline Collection – Multi Utility Payments & V Collect

1. Multi Utility Payments (MUP) – Offline Challan accepted at Indian Bank Branch counters only.
2. V Collect – Offline Challan payable through NEFT, RTGS, Indian Bank Branch counters, Net Banking through NEFT, RTGS transfer.

Online Collection – IB Collect (Payment Gateway Services):

Institutions/Departments/Merchants can collect funds from your clients through online payment methods using the IB Collect (payment gateway services).

• Initiate payment collection by API integration with your websites or mobile apps etc.
• We can provide the open forms or excel based payment platform or payment links based collection mechanism for user friendly experience.

IB Collect services can be availed by Education Institutions (Schools and Colleges for Fee Collection), Retail (e-Commerce), Mutual Fund merchants, Insurance merchants, Government Departments, Companies to collect fees/ dues/ payments from consumers, clients, agents, distributors, students, donors, subscribers, borrowers, tax payers etc.

Key Features:

• Free end to end solution of online collection module to Institutions/ departments for utilizing services.
• Multi-Mode Payment Facility (Debit Card, Credit Card, UPI, Wallets, Net Banking of select Banks, NEFT and RTGS)
• User Friendly Admin Portal to create and manage the Master Data, to download reports, to initiate Refund or to raise any query anytime as per institutional requirement.
• Alerts/Reminders to Customers for Payments on time

How can Institutions use the IB Collect / IB Collect Plus services for collection?

• Institution details will be configured in the IB Collect System and a portal access will be provided with username and password to the institution.
• After customization, Institutions can upload the master details of payments in the specified excel format with the amount to be collect in the system.
• URL link will be created for institution for the remitters to access and make payments.
• Intending remitters can enter the login credentials as required by the institution and make payment.
• Institution can initiate SMS or Mail for sending the payment links to clients for making payment directly by clicking on the links.
• Institution can view the transactions performed on real time basis through the Admin Dashboard provided to them.

Benefits to Institution:

• Save cost for using this smart technology.
• Expand business by enabling multiple payment options to remitters ensuring flexible payments.
• Hassle free and paper less reconciliation
• Monitoring transactions on real time basis for speedy service to remitters.
• Download reports as per institutional convenience.
• Manage refunds at ease using Admin Portal.
• Configure alerts to customers for receiving payments on time
• Clients can make payments at their own convenience through flexible options such as Credit Card/Debit Card/Net banking/UPl/Wallets/NEFT/RTGS.
• Payment confirmation for payments made on real time basis.
• Fast and Secure payment mechanism.
• No Additional Cost for software / website development.
• No Annual maintenance charges or any other hidden charges
• Minimal transaction charges.

Multi Utility Payments (MUP) – Offline Challan accepted at Indian Bank Branch counters only.

Institutions/Departments/Merchants requiring more details such as applicant number, applicant name, etc., for reconciliation at the time of transaction can collect funds from your clients through MUP offline challan payments accepted at any Indian Bank Branch counters.

Institution can generate the challan reference numbers using API integration.

Key Features:

• Simple challan generation mechanism using API based integration.
• Easy reconciliation
• Captures up to 6 details for MIS purpose for easy reconciliation and identification.
• Can store up to 6 head wise break ups for the amount paid for easy identification.
• Automated MIS reports.

How Institution or Department can use the services for collection:

• Institution to initiate challan generation mechanism using API integration.
• Users or remitters can generate the challans from Institution or Department website or portal and take the print of the challan generated.
• User or remitter can visit any Indian Bank Branch for making the payment towards the challan generated.
• MIS details will be sent to Institution for smooth reconciliation.

V Collect – Offline Challan payable through NEFT, RTGS, Indian Bank Branch counters, Net Banking through NEFT, RTGS transfer.

Institutions/Departments/Merchants collecting funds using NEFT or RTGS or offline challan payments and reconcile using unique identifier can collect funds from your clients through our V Collect offline challan product.

Institution or Department can generate unique account numbers based on your requirement to each remitter for identifying the remitter details from remittances.

Key Features:

• Real Time credits to the institution Account.

• Easy reconciliation Real Time credits to the institution Account.
• Automated MIS Reports

How Institution or Department can use the services for collection:

• Institution to generate unique account numbers for initiating the payments for payments for each client and purpose.
• Users or remitters to make payments to the account numbers provided by the institution.
• User or remitter can make payments through NEFT, RTGS, Indian Bank Branch counters, Net Banking through NEFT, RTGS transfer.
• MIS details will be sent to Institution for easy reconciliation.

How to apply?

Please visit your home/ nearest Indian Bank Branch and ask for application for IB Collect/V Collect/MUP.

Fill the form and submit with necessary details to branch.