LIC & Corporation Bank today announced their alliance with PayMate to enable SMS-based insurance premium payments for its customers in an easy, efficient and secure way. Corporation Bank customers with LIC insurance policies can avail this service by getting registered with PayMate.

The payment happens in 2 simple steps as follows:
* SMS LIC (space) policy number to 5667711
* The customer instantly receives a reply confirming the premium amount due and asking for payment authorization by replying with the PayMate PIN (given at the time of registration for the service). Once the customer texts the PIN, he/ she gets payment confirmation within few seconds via SMS.

Mr. Bhatt, Corporation Bank, said, “This partnership has created a win-win situation for us as well as our customers. It is our constant endeavor to provide value-added services to our customers. We are pleased with this association, as almost 2 million Corporation Bank customers with LIC insurance policies will benefit from this initiative.”

Mr. Ajay Adiseshann, Founder & Managing Director, PayMate said, “It has been a great alliance for PayMate with Corporation Bank & LIC to provide their customers with a trouble-free and convenient way of making insurance premium payments via SMS. This will enable Corporation Bank and LIC customers to utilize mobile technology to ease the burden of making regular payments. With such alliances we definitely create win-win situations for all our partners.”

Sourced From: Perfect Relations Limited

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