Consequent to communication received from NPCI asking us to stop the eSign based E-Mandate, we are constrained to discontinue ePayEezz immediately.
Further, NPCI has also mandated that all ePayEezz registered between 26 September 2018 and 26 November 2018 should be cancelled by 15 February 2019. For these ePayEezz, necessary physical PayEezz form need to be submitted immediately.
Further to communication on the subject of ePayEezz, NPCI has formally closed the facility of eNACH and consequently we have been constrained to withdraw our ePayEezz product. Customers are advised to please take note of the following with regard to ePayEezz registered on or after 25th September 2018.
- No new SIP/CaST registrations will be accepted linked to such ePayEezz with effect from 1st Jan 2019
- Lumpsum transactions can be done up to 13th February 2019 using these ePayEezz
- Existing CaST triggers will be stopped by 13th February 2019 linked to these ePayEezz
- Existing SIPs with the above ePayEezz will be ceased by 6th February 2019 and no further instalments will be triggered
The system is being enhanced to provide a facility (SwapPayEezz) to swap these ePayEezz with another registered PayEezz mandate. It will enable customers to swap existing ePayEezz (which would cease in February 2019) with the another PayEezz mandate.
It will ensure that the existing active SIPs would be swapped onto the new mandate, and thereby continue the active SIPs uninterrupted beyond Feb 2019.
This facility is expected to be available in the third week of January 2019.
Please Write to us for any clarification