New Delhi: Life Insurance Corporation and Paytm have tied up, providing e-payment facility to the policy holders. Now, LIC policy holders pays their premium utilizing Paytm. You pays policy premium or any sort of policy associated cost by way of Paytm.
LIC has appointed Paytm to present all its digital cost amenities. After the settlement with a number of different cost gateways, LIC has tied up with Paytm as most of its payments have gone into digital mode.
According to the news printed within the Times of India, 17 cost gateways had bid for LIC’s digital cost facility, whereas the deal finally went to Paytm for the latter’s sturdy presence in a number of cost companies. The new settlement will make the cost course of simpler, extra cost choices might be accessible and extra gamers like wallets and banks might be concerned in it.
According to the report, LIC noticed a pointy soar in digital payments in the course of the COVID epidemic. During this era, LIC collected a premium of Rs 60,000 crore by way of digital mode, whereas it doesn’t embrace the cost constituted of the financial institution. These are about 8 crore transactions, which is anticipated to develop additional.
LIC holders might be ready to pay premium payments through Paytm. LIC can gather all types of collections in a digital means, together with remittance collections from insurance coverage brokers.
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