ING Vysya Life Insurance has introduced a mobile payment facility called PayMate, which enables policyholders to pay their premium through an SMS for no additional cost. The service is now available only to Citibank and Corporation Bank customers. The payment is done in two simple steps - a customer sends an SMS with the policy number prefaced by the abbreviation ‘IVL’ to 667711. After receiving a reply confirming the premium amount due, he/she has to send the PayMate PIN and will receive a payment confirmation reply within a few seconds.
Source: The Telegraph
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