Co-op bank's cashless tech: Rs 5 for every transaction

PANAJI:  

They are in the process of providing their customers with the SIM sleeve technology through which banking transactions can be carried out without using the smartphone or even internet. However, the cost of transaction through this facility would be Rs 5 per transaction for upto Rs 25,000 and Rs 7.5 for transactions above Rs 25,000. “We are still in the process of negotiation with Yes Bank over the cost of transaction”, said Bank Chairman Ulhas Phaldesai.