Page 25 - Banking Finance October 2020

PRESS RELEASE

SBI Card collaborates with Google to enable cardholders to make

payments through Google Pay

SBI Card, India’s largest pure-play credit card issuer, announced its collaboration with Google to enable cardholders to use
their SBI Credit Cards on the Google Pay platform. SBI Credit Card users will now be able to make card payments using
Google Pay app on their Android smartphones. Cardholders can make safe and secure payments using Google Pay in three
modes- via Tap and Pay at NFC enabled PoS terminals, by scanning Bharat QR code at the merchant as well as online
payments, without using the physical credit card. This launch is in line with SBI Card’s endeavour to promote zero contact,
digital forms of payments for a safe and enhanced customer experience.
A highly secure payment experience is enabled through tokenisation, whereby cardholders use Google Pay to pay through
a digital token attached to their phone, without having to share physical card information with the merchant. Google
Pay is a widely accepted payment app accepted at multitude of merchants in India with deep penetration in metros as
well as non-metros. Through this association, SBI Card aims to provide cardholders the option to pay via Google Pay and
offer them a safe payment experience on their mobile phones. Currently the feature is available for SBI Credit Cardholders
on Visa Platform.

Signzy wins ASSOCHAM’s ICT Start-Ups Award 2020 for Digital KYC

Bangalore-based Signzy, India’s leading fintech startup, said that it was named, winner of ASSOCHAM’s ICT Startups
Awards for 2020. Signzy won this award for its innovative AI-based Digital KYC solution, which helps banks and financial
services companies onboard new customers in a completely remote, paperless and digital manner. The ICT Start-Ups
award is an annual ASSOCHAM initiative, conducted in association with the Ministry of Electronics and Information
Technology, Government of India and Ericsson. The awards aim to encourage innovation by recognising and rewarding
outstanding ICT innovations.

Commenting on the win, Ankit Ratan, co-founder of Signzy says, “We hold this honour in high regard as a testimony to
the great work our team has been putting in. Digitalisation is scripting the future of financial services businesses and is
crucial to India’s next phase of growth. We at Signzy are proud to play a meaningful role in the ongoing digital
transformation of India’s banking, insurance and financial services sector with truly innovative and path-breaking digital
solutions.”

Three other startups were also awarded at the virtual award ceremony, held on the sidelines of Smartech India 2020 in
New Delhi. Signzy’s clients for its digital KYC solution include over 90 Indian banks, insurance firms, NBFCs and Asset
Management Companies like Aditya Birla Sunlife AMC, BoB Financial and more. The clients also include four of the largest
banks in India, with State Bank of India (SBI) and ICICI Bank among them. Globally, Signzy has a strong partnership with
Mastercard and offices in New York and Dubai to serve customers in the multiple geographies. The startup’s Digital KYC
is already being used to onboard thousands of customers every month by several SEBI-regulated institutions.

HUDCO Makes All-Time High Dividend Payout

The Hon'ble Union Minister of State (Independent Charge) Ministry of Housing and Urban Affairs Shri HS Puri, was
presented the final dividend cheque of Rs.428.68 crore for the year 2019-20, by Shri M. Nagaraj Director (Corporate
Planning) HUDCO. Present on the occasion were Shri. DS Mishra, Secretary MoHUA, Shri D. Guhan, Director (Finance)
and other senior officials.
In its Golden Jubilee year, HUDCO has made an all-time high dividend payout of 31% amounting to Rs 620.59 crore for
the year 2019-20. HUDCO also paid dividend of Rs.128.65 crore to the Ministry of Rural Development, and Rs. 63.26
core to public shareholders. T

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