Use *99# For Digital Payments

After demonetization, apart from the PoS machines, many other digital payment modes have cropped up including mobile wallets, including Aadhaar Enabled Payment Systems (AEPS), Unified Payment Interface (UPI), and even Unstructured Supplementary Service Data (USSD). From all of these, USSD is primarily meant for people who do not have smartphones or internet connectivity but wish to adopt the *99# service for digital banking and cashless payment system.

*99# is a USSD based mobile service for banking transactions, which can be used by both smartphone and basic phone users. However, to use this service, it is imperative that the user has a registered mobile number with his bank account, which can be done either at the bank or through an ATM.

Why *99# service is so helpful

What would be more convenient and quick than to simply dial a number to check your bank account balance or even make payments? *99# services is loaded with many more features including:

• The service also works on basic GSM phones and without the internet
• *99# service can be used across the various telecom operators
• *99# service is free even if your mobile is on roaming
• Like the internet banking and mobile wallets, *99# service is available 24/7 including holidays
• No hassle of installation to use this service

How to use *99# service

Once you have registered your mobile number with your bank, follow the steps below to know the process of using the *99# service:

1. Dial *99# from the registered mobile number
2. You are asked to enter the short form for your bank name like PNB for Punjab National Bank or SBI for State Bank of India, or the 2 digit bank numeric code, or the 1st 4 letters of the banks IFSC Code
3. Once you have entered one of the above details you are directed to the main menu to choose the service you wish to use like check account balance, get a mini bank account statement, sending money, and generating OTP

Sending money through *99#

Sending money with *99# can be done in three different ways - MMID, Aadhaar number, and IFSC code.

Sending money through MMID

1. Press 3 from the main menu to transfer funds using MMID and press Send
2. Enter the mobile number and MMID of the receiver along with the payable amount and the remark (optional)
3. Press Send
4. Enter your mPIN and the last 4-digits of your bank account number (optional), press Send
5. You will get a confirmation that the money is transferred

Sending money using IFSC Code

1. Press 4 from the main menu and press Send
2. Enter the bank account number of the receiver and the IFSC Code of his bank and press Send
3. Enter your mPIN to authorize the transaction
4. Press Send and you will be notified of the successful transaction on the next screen

Sending through Aadhaar card number

1. Select 5 from the main menu
2. Enter the Aadhaar card number of the beneficiary
3. Enter your mPIN
4. Press Send
5. You will receive a confirmation of the transaction

The *99# service is also based on the IMPS channel, and hence the amount will immediately be credited to the beneficiarys bank account. Though *99# is a dialling service, there is no way to cancel a transaction once it is initiated.

*99# service is a boon for the small vendors and the people in rural areas, who are still using the basic handsets and are suffering in the digital banking and cashless payment environment.