What are the different types of payments bank

Payments Bank:

Now everyone doesn't carry cash, and there is no time for people to go out to give a bill of something and recharge Tv and else. So they give money from mobile through UPI. Most likely, students are using payments banks to transfer money to gets cashback and other offers. If we use any other bank like SBI, Central, etc., to transfer money and pay bills, the transaction history will be printed in the passbook. Whereas we use payments bank, the transaction history will be seen in the app transaction history. That type of bank does not provide any passbook.

A payments bank is like any other bank operating on a smaller scale without involving any credit risk. These banks cannot issue loans and credit cards. Both current accounts and savings accounts can be operated by such banks. Payments banks can issue ATM cards or debit cards and provide online or mobile banking. 

Types of dIfferent payments banks:

There are some payments banks.

1. Airtel payments bank
2. India post payment bank
3. Fino Payments Bank
4. Jio payments bank
5. Paytm payments bank

1. Airtel payment Bank: Airtel Payments Bank is an Indian payments bank with its headquarters in New Delhi. The company is a subsidiary of Bharati Airtel.

Digital payments

In September 2017, Airtel Payments Bank launched UPI-enabled digital payments to facilitate secure digital payments. For UPI-based payments and transfers, customers are not required to furnish their bank details to enable transactions. Customers need to link their bank accounts on BHIM before they can make UPI payments.

Airtel Money is a digital wallet by Airtel Payment Bank that allows users to make payments using "My Airtel app.

."

2.India post payment bank: India Post Payments Bank is a division of India post and a payments bank from India operated by the India Post. Opened in 2018, the bank had acquired about 4.0 crore customers by December 2020.

services:

IPPB aims to utilize all of India's 155,015 post offices as access points and 3 lakh postal mail carriers and Grameen Dak Sewaks to provide doorstep banking services.

The bank also provides features like:

• Account: The bank offers savings and current accounts up to a balance of ₹1 Lakh.
• QR Card: Customers can use QR scan payments eliminating the need to remember account numbers, PINs, and passwords.
• RuPay Debit Card

IPPB has been allowed to link around 17 crore postal savings bank (PSB) accounts with its accounts.

^{3.Jio Payments Bank: Jio Payments Bank is an Indian bank that started operating in 2018 and is owned by Reliance Industries. Reliance Industries was granted in principle approval by the RBI to establish a new payments bank under the Banking Regulation Act, 1949. It then partnered with the SBI and incorporated Jio Payments Bank Limited in November 2016. Jio Payments Bank Limited is a 70:30 partnership between Reliance Industries and State Bank of India.}

4. Paytm payments bank:

Paytm is an Indian multinational technology company specializing in digital payments systems, e-commerce, and finance, based in Noida, India. Paytm offers online use-cases like mobile recharges, utility bill payments, travel, movies, events bookings, and in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies, etc., educational institutions the Paytm QR code.