Mobile Net Banking : The use of mobile banking is increasing rapidly in the country. People are using mobile banking to save their time. Bihar is also not behind in this episode. Here people are doing digital transactions by pressing. This can be gauged from the fact that there has been a huge increase in the number of mobile banking users and internet banking users as compared to 2021. According to reports, the number of mobile banking users in Bihar has increased to 1.63 crores in March 2024, while the number of internet banking users has increased to 1.53 crores. On the other hand, if we look at the figures in March 2021, the number of mobile banking users was 62 lakhs and the number of internet banking users was 73 lakhs.
There has also been an increase in POS machines
There has also been a rapid increase in the use of POS (point of sale) machines in Bihar. Seeing the growing craze of mobile banking, businessmen are using POS machines in shops. According to the data of the State Level Banking Committee (SLBC), there has been an increase of 42.13 percent in 2024 as compared to 2021, where 58,331 POS machines were issued in 2021. So in March 2024, the figure has increased to 82,907, while if we look at January 2020, the number of figures at that time was 51,000.
How a POS machine works
POS machine is a portable device. Online payment is accepted through this. Through this machine, the customer makes electronic payment to the merchant with the help of debit/credit card.
UPI is being used extensively
According to NPCI (National Payment Corporation of India), PhonePe has more than 47 percent users in Bihar. Apart from this, Paytm has 12.1 percent, Google Pay has 36.7 percent and Amazon Pay and other banking apps have a share of 3 percent. According to reports, in 2021, transactions worth 4.13 crore were done through UPI, while by March 2024 it increased to 12.40 crore.
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