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API Commercial Proposal-1

Eko India Financial Services Private Limited offers a prepaid payment instrument (PPI) platform for money transfers. Key features include direct integration with NPCI and multiple banks to enable IMPS and NEFT transactions. Transaction failure rates are less than 1.5% due to verification processes. The API-based platform is used by over 15,000 agents and 70 partners, processing over Rs. 8,000 crore in transactions. Commercial terms include activation fees starting at Rs. 30,000 plus taxes and transaction fees ranging from 0.12-0.15% depending on annual transaction volume. Integration fees should be deposited to a HDFC bank account.

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100 views

API Commercial Proposal-1

Eko India Financial Services Private Limited offers a prepaid payment instrument (PPI) platform for money transfers. Key features include direct integration with NPCI and multiple banks to enable IMPS and NEFT transactions. Transaction failure rates are less than 1.5% due to verification processes. The API-based platform is used by over 15,000 agents and 70 partners, processing over Rs. 8,000 crore in transactions. Commercial terms include activation fees starting at Rs. 30,000 plus taxes and transaction fees ranging from 0.12-0.15% depending on annual transaction volume. Integration fees should be deposited to a HDFC bank account.

Uploaded by

StepIn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Commercial Proposal 
  
  
  
  
  
  
  
  
 
 
 
 
 
 
 
 
Eko India Financial Services Private Limited 
Applicable till: 30​th​April2017 
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 ​Product 
Overview 
Eko is an authorised PPI (Pre-paid Instrument) license holder from the RBI (Reserve Bank of India) and 
have partnered with RBL Bank for NEFT. 
  
1.       Limit on customers – upto Rs. 25,000 per customer 
─         Non-KYC - Rs. 20,000 per customer per month (Co-branded wallet) 
─         KYC - Rs. 25,000 per customer per month (Co-branded wallet) 
  
2.       Per transaction limit - Rs. 5,000 per transaction 

Features 
The API platform provides the following features: 
  
1.       Direct Integration with NPCI & multiple banks 
─         IMPS & NEFT Available 
─         Transactions allowed into Grameen Banks as well 

2.       Least transaction (IMPS) failure rates – <1.5% 
─         Compulsory verification for major banks which virtually minimizes wrong transactions 
─         Velocity checks which minimizes double transactions 
─         Features such as account number length verification 
  
3.       Platform used by: 
─         > 15,000 agents 
─         > 70 API Partners 
─         Processed more than > Rs. 8,000 Cr transactions till date 
  
4.       Simple to use RESTful APIs; Language bindings available in JAVA, Python3, C# & PHP 
  
  

  
  

  
 
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Commercials 
  
The structure for money remittance will be as follows: 
 
─   Activation Fee 30,000+ ST 
─   ​Transaction fees as per below table 
─   ​Account Verification Fees - Rs. 2 per transaction 
─   ​Service Tax is applicable up and above mentioned commercials 
 

Commercial  PPI 

Bracket  < 5 Crores  5 Crores - 10 Crores  > 10 Crores 

Transaction Rate  0.15%  0.13%  0.12% 

Minimum Transaction Rate  Rs. 4  Rs. 3.75  Rs. 3.5 

API’s 
─   ​APIs are available​ ​here 
─   ​Latest information & optimized workflows available​ ​here 
─   ​Eko’s Money Transfer application available ​here 
  

Integration Fees to be transferred to: 
─   ​Bank Name​– HDFC Bank 
─   ​Account Name​ – Eko India Financial Services Pvt Ltd 
─   ​Account Number​ – 00032000039765 
─   ​IFS Code​ - HDFC0000003 
─   ​Branch​ - Suryakiran Building, 19, KG Marg 
─   ​Mode of deposit​ – NEFT/IMPS/Online Transfer (NO CASH DEPOSIT) 
  
  
 

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