Mumbai: Earlier, users had to enter their login ID and password on a webpage to complete a netbanking payment—something many people often forgot, causing incomplete transactions.
Netbanking 2.0 solves this problem with a mobile-first design, offering a smooth payment experience without repeatedly entering credentials.
How to Start Using Banking Connect
To enable this system, businesses can:
- Sign up on the NBBL website
- Complete onboarding as per guidelines
- Integrate and go live to activate payments
Security is a key focus
Netbanking 2.0 uses AI and machine learning (ML) to detect suspicious transactions and alert the bank instantly—making online payments safer than before.
Useful for High-Value Payments
The system will especially help:
- Businesses making large payments like taxes, insurance premiums, or other high-value transfers
- Regular users making big payments such as college fees, stock investments, or mutual fund purchases
30 Crore Netbanking Transactions Every Month
NBBL says the goal is not a specific transaction target but bringing more banks and payment partners onboard. More participation means stronger customer trust and a more powerful digital payment network.
Currently, around 30 crore netbanking transactions take place every month, and this number is expected to rise with the new system.
