Union Bank of India (UBI), one of the largest public sector banks of India, has exclusively launched a bill payment service for subscribers of Mahanagar Telephone Nigam (MTNL) through a mobile banking platform. This initiative would enable the subscribers pay their bills using mobile banking applications of their respective banks.
Under the arrangement MTNL will pay the bank a fee of Rs 2.5 per transaction, creating an opportunity for the bank to earn a fee-based income.
The bank would initially offer this service to MTNL’s landline subscribers and gradually extend the same for its mobile phone subscribers.
