Urgent Alert: This Major Bank Just Banned Credit Card Payments via CRED, Paytm, and PhonePe

Standard Chartered Bank has recently informed its credit card customers about a significant update regarding payment options due to new guidelines issued by the Bharat Bill Pay System (BBPS). The bank is in the process of updating its systems to comply with these new regulations, which have affected the ability to make credit card payments through popular third-party apps.

In a notification sent to its clients, Standard Chartered Bank highlighted that payments through third-party platforms such as PhonePe, Google Pay, CRED, Amazon Pay, Paytm, and others may be temporarily unavailable. This move is part of the bank’s efforts to align with BBPS guidelines, a central framework implemented by the Reserve Bank of India to enhance the security and efficiency of bill payments across the country.

While the bank works on enabling third-party payments under the new regulations, customers have been assured of continued access to alternative payment methods. Standard Chartered Bank has outlined several convenient options for clients to settle their outstanding credit card balances:

1. Pay from a Standard Chartered Bank Account: Customers can log in to their Online Banking or SC Mobile app to make payments directly through the bank’s platform by selecting the ‘Payments’ option.
2. Pay from Another Bank Account:

• Bill Desk: Customers can use the Bill Desk service to facilitate payments from accounts held with other banks.
• NEFT/ITBF Payment: Traditional methods like NEFT (National Electronic Funds Transfer) and Immediate Transfer for Bills (ITBF) remain available.
• NACH Registration and Payment: Customers can also register for and use the National Automated Clearing House (NACH) service for automatic payments.
• Cheque/Demand Draft: Those who prefer traditional methods can continue to send cheques or demand drafts to settle their dues.

• Cash Deposit at Standard Chartered Bank Branches: Customers may visit any Standard Chartered Bank branch to make payments in cash.

The bank emphasized its commitment to providing seamless services during this transition and encouraged customers to reach out for assistance if needed. By adhering to the BBPS guidelines, Standard Chartered Bank aims to enhance the security of its payment systems while continuing to offer reliable service to its clients.

For more information or inquiries, customers are advised to contact Standard Chartered Bank’s customer service.