NPS – Payment gateway proposals from various POPs

New pension Scheme – Payment gateway proposals from various POPs-Under All Citizen Model Scheme

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

Cir no: PFRDA/ 2013/2/ PDEX /

SL-9

SUB: Payment gateway proposals from various POPs-Under All Citizen Model Scheme of NPS

We have received several requests from POPs for providing payment gateway options for crediting of NPS contribution (Tier I and Tier II) of the subscribers which would enable them to contribute to the NPS directly without visiting the POP or issuance of physical money instruments. The requests were received for the following gateways:

  1. Payment Gateway for subscriptions through credit and debit cards issued by MasterCard & Visa. 
  2. Net banking Gateway, which is seamlessly integrated with the core banking systems of Private, Public Sector and Foreign Banks. 
  3. E-Collect system which enables citizens to remit their contributions through the RBI Payment systems, NEFT & RTGS directly to the POP’s NPS account. 
  4. Cash to Mobile (C2M) Solution 

We are hereby inform you that now POPs can provide any of the above payment gateway options which can be made available by them on their websites, subject to the following conditions:

  1. POP has to ensure that all functions of SCF upload, Fund transfer, MIS upload etc are performed as per the Service Level Agreement entered with PFRDA. In case of Receipt number being generated for submission of contribution, the POPs has to provide the Receipt no (which should be according to CRA format) to the subscriber. The receipt no. can be forwarded by e-mail to the subscriber if necessary. Further, these numbers should be uploaded as part of the MIS.
  2. The POP would be responsible for all and any complaints arising out of the payment gateway or other option being used by the subscriber for remittance of funds to NPS.
  3. It is the responsibility of the POP to discuss and integrate their systems with CRA wherever required. Therefore, you may appropriately devise your payment gateway option at your end keeping the above in view.

You may contact CRA for any queries related to the system integration/synchronization.

Source: PFRDA

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