Public sector lender, United Bank of India has reportedly launched its merchant payment service on mobile phones using the IMPS (immediate payment service) merchant payment service platform offered by the National Payment Corporation of India. This new service will allow customers to have round-the-clock (24x7) merchant payment services including mobile recharge, utility payments and ticketing facilities, among others.
The bank reported over 15- fold jump in its net profit at Rs 469.37 crore for the quarter ended March 31, 2014 as compared to Rs 31.18 crore for the same quarter in the previous year. Total income of the bank increased by 14.39% at Rs 3073.78 crore for quarter under review as compared to Rs 2687.18 crore for the quarter ended March 31, 2013.
