DBS introduces digital payments for trucking sector

DBS Bank India in partnership with TCIL has introduced the DBS RAPID (Real Time APIs by DBS) solution for truck drivers, thereby enabling them to receive payments instantly. Given the large volumes of transactions, and round-the-clock nature of the operations, the bank proposed setting up a UPI-based real-time payments solution which is available 24x7x365. With this solution, TCIL truck drivers receive an instant credit into their bank account, which they can then swipe at terminals or withdraw cash using ATMs. Through DBS Bank India’s custom API solution, TCIL will now be able to save 45 lakh hours annually. DBS RAPID and UPI payments provide a seamless integration with the company’s Enterprise Resource Planning (ERP) system. The solution has been set up under the aegis of National Payments Corporation of India (NPCI).