ElectraCard Services (ECS), a provider of software solutions for electronic payment systems, has facilitated Corporation Bank’s recently launched tax payment facility through ATMs. Reportedly, the bank can now offer the service to its customers to pay direct tax through their ATMs on registering for the facility.
When the customer uses the Bank’s ATM to pay tax, the ECS system carries out the PIN verification and fetches the relative tax template details from the Bank’s server after due authentication. Following this, the system will send the tax payment transaction with the tax amount entered by the customer and this amount will be debited to the customer’s account and the tax payment account will be credited. On completion, the customer will get a receipt with the transaction details.
Ramesh Mengawade, CEO of ElectraCard Services said: “The Income Tax department is initiating various friendly measures for tax payers, which not only provide convenience to the tax payers but also encourage banks to give added facilities to their customers. With Corporation Bank extending this facility, we are happy to provide the technology support which will ensure smooth and secure transactions to tax payers”.
BR Bhat, general manager, IT, Corporation Bank, said: “The contribution of ECS in rendering the bank’s ATM services to be a success story and in ensuring the various interfaced utility payment services to be acceptable in the industry is commendable. The efficacy of this synergy between the Bank and ECS is also visibly reflected in the recent offering wherein payment of direct taxes was facilitated to the Bank’s debit card holders through its ATMs. ECS has always responded promptly to the bank’s innovative business requirements and has strived to achieve the standards set forth on many such projects.”
