Digital Payment Methods Mobile Banking Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct different types of financial transactions remotely using a mobile device such as a mobile phone or tablet. Mobile Wallet A mobile wallet is a way to carry cash in digital format. An individual's account is required to be linked to the digital wallet to load money in it. Most banks have their e-wallets and some private companies e.g. Paytm, Freecharge, Mobikwik, Oxigen, Airtel Money, etc. also provide this service. Point of Sale A point of sale (PoS) is the place where sales are made. On a macro level, a PoS may be a mall, a market or a city. On a micro level, retailers consider a PoS to be the area where a customer completes a transaction, such as a checkout counter. It is also known as a point of purchase. Micro ATMs Micro ATM meant to be a device that is used by the Business Correspondents (BC) to deliver basic banking services. The platform enables Business Correspondents (who could be a local retail shop owner and will act as ‘micro ATM’) to conduct instant transactions. Aadhaar Enabled Payment System (AEPS) AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM) through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar authentication. Unstructured Supplementary Service Data (USSD) The innovative payment service *99# works on Unstructured Supplementary Service Data (USSD) channel. This service allows mobile banking transactions using basic feature mobile phone, there is no need to have mobile internet data facility for using USSD based mobile banking. Unified Payments Interface(UPI) A system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one place.In this system, transactions can be done through any smart phone using VPA (Virtual Payment Address) facilitating 24 x 7 transfers on a real time basis. One needs to download UPI- enabled bank app and login using bank details