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TAIPEI, Taiwan – Taisys Technologies, an international telecommunications and financial service provider, is collaborating with YES BANK the fifth largest private bank in India to launch phone-based mobile finance services. Assisting over one billion Indian phone users to enter into the digital finance era.

Digital finance development has a huge impact on the economic growth of developing countries. According to a statistics, every 1 % reduction in cash in circulation within the economy translates into the increment of 40 basis points (0.4%) in GDP. Rana Kapoor CEO of YES BANK, considered that digital technology will accelerate the speed of transformation of becoming a cashless society in India.

In India the coverage of mobile internet and the penetration rate of smartphones are not high, with additional challenges to overcome before entering digital finance era. According to the Internet and Mobile Association of India (IMAI), about 75% of phone users (accounted for 0.6 billion people) in India will use a feature phone within three to five years. It means that mobile banking services have to operate on limited feature phones in India.

To break this bottleneck YES BANK selected Taisys’s smart thin SIM technology, helping Indian people have mobile banking services available on non-smartphone. The adoption of Taisys professional mbanking solution has provide YES BANK with the tools to support there customers needs.

Taisys’s smart thin SIM is just like a small sticker, applied directly onto the original SIM card of YES BANK users, without any concern to existing mobile operations. Via Taisys’s patented technology, users have mobile banking services without accessing the internet via wifi, services include, money transfer, check balances, money deposit, merchant payments etc.

Taisys’s smart thin SIM technology is the best solution for India, and other developing countries to provide mobile digital finance services. Apart from short system install time and budgetary concerns, also the easiest way for users to start digital financial services.

*1: YES BANK, is India's fifth largest private sector Bank, and has been recognised amongst the Top Fastest Growing Banks in various Indian Banking League Tables. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Finest Quality Bank of the World in India” by 2020.

About Taisys

Taisys Technologies Co. Ltd., member of GSMA and ETSI, a world leader in providing mobile interconnectivity and vertical integration services across various industries. With its patented SIMoME technology, TAISYS slimduet® provides global travellers alternative roaming services within 200 countries. slimduet® the world’s 1st live ecosystem of consumer eSIM technology. Taisys has R&D centres in Taipei, Bejing, Chongqing and India, with regional offices located in Taiwan, China Beijing, Chongqing, Hong Kong, Singapore, India, South Africa, Russia and Spain.