DBS Bank launches real-time payments solution for India truck drivers
DBS Bank India has launched a custom application programming interface (API) platform to provide real-time payments for Indian truck drivers.
The bank, in partnership with Transport Corporation of India Logistics (TCIL), has set up a solution based on the unified payments interface (UPI).
According to the bank, when deployed into TCIL’s enterprise resource planning system it will enable truck drivers to be paid instantly for their work.
The software is built on DBS’ proprietary API solution, and set up under the control of the National Payments Corporation of India.
“We follow a pre-emptive approach and create customised offerings to bring more convenience and value to our customers,” says Divyesh Dala, head of global transaction services at DBS India.
“In the case of TCIL, it enables truck drivers to live hassle-free and manage their expenses with ease, thereby aligning with our commitment to supporting lives and livelihoods.”
Founded in 1958 and based in Gurgaon, TCIL is among India’s largest integrated supply chain and logistics solutions providers.
“The DBS solution has strengthened internal controls, reduced our cost, and increased our pace of business,” says Ashish Tiwari, group chief financial officer at TCIL.
“We are proud to have partnered with DBS Bank, which has enabled us to contribute to digital India in a meaningful way and drive India towards a digital economy.”