Quick Pay Faqs

Your Loan repayments are made quick and convenient. You no longer have to draw cheques, visit a branch and wait in a queue for your turn, to make payments

You can make an online payment through your bank’s Internet banking account / Debit cards / Airtel Payment Bank / UPI in the following 4 simple steps

• Step 1: Browse Magma website www. magma.co.in and click on the “Quick Pay” link
• Step 2:For Retail customers / Individuals: Type your loan number once in the respective field. For Corporate Customers / Non-Individuals loan account number should be validated using PAN no.
• Step 3:Fill the required details on the Customer Interface page
• Step 4:Click on the “pay now” option after agreeing to the terms & conditions and reading the disclaimer and you will be redirected to the payment gateway page.

No

Yes, it is secure through 128 bits SSL (Security Socket Layer) encryption

No

No

Yes

Yes the same can be used provided the bank supports online payment service.

No.

Wallets cannot be used to make payment. Currently the service through UPI payment is enabled.

There are certain checks available to avoid payment against wrong loan numbers. These checks are as follows

• The loan number needs to be 19 alphanumeric character in nature.
• The loan number will be validated by PAN validation logic (applicable for Corporate Customers / Non-Individuals)
• Once the Loan no is validated payment page will be displayed where masked customer details will be automatically populated.
• Even if you have made a payment to a wrong loan number, you need to call our 24-hour Customer Care and register a Service Request (SR). Alternatively, you can raise the Service request in the “ Contact Us” menu in the website

You will receive a transaction acknowledgment which can be downloaded in your terminal and print can be taken; alternatively, you will also receive an m-acknowledgment. E-mail notification will only be received if your mail Id is registered or you have entered the mail Id in the loan validation page

Yes. Please contact your branch / customer care for further clarification

No

The excess payment if received any will be adjusted towards future installment and the refund for the same can be obtained through any of our branches by making a written application or you need to call our 24-hour Customer Care and register a Service Request. Alternatively Service Request can be raised through the “Contact Us” menu in the Magma website

Post every successful transaction; you will get a success SMS along with a valid transaction reference number. However, sometimes the transaction is successful but a transaction reference number cannot be displayed due to power cuts, connectivity issues, or any technical issues, in such cases you are advised to check your bank account credit balance to know whether the transaction has happened or not. You should report about it to MAGMA if your loan number is not credited within 2 working days from the date of the actual transaction.

Your payments are processed immediately after you have authorized the transaction from your bank’s net-banking facility using valid User ID and Password or through Debit card. If your payment is successful, you will be informed that your payment has been successful and a payment transaction reference number will be displayed with a successful transaction acknowledgment simultaneously an SMS alert will be sent to your registered mobile no. If your payment is unsuccessful, you will be informed that your transaction was unsuccessful through an SMS in your registered mobile no and also an unsuccessful transaction acknowledgment will be displayed on the screen.

Three working days from the date of payment.

Please contact our 24-hour Customer Care and register a Service Request (SR) after providing all the transaction details, alternatively Service Request can be raised through the “Contact Us” menu in the Magma website or visit our nearest Magma branch for clarification.

You can track your payments from your bank statement if you need to provide proof of payment. Your bank statement will show the charge to your account from the billing vendor with a transaction number similar to the “Quick Pay” transaction reference number. In addition to the above, you will get a valid transaction acknowledgment post your successful transaction. The same can be used to track and resolve your queries and disputes.

Any payments made will be reflected in your loan account statement within two (2) working days. The loan account statement is available from branch or the information can be available through customer care.

You can make payments from anywhere in the world, provided you have an Internet connection and can connect to the Magma website.

Yes. The amount payable is shown on screen is real time

No, you need not take permission if you have net-banking facility or a valid card type, i.e. (VISA / MASTER / RuPAY / MAESTRO), UPI or Airtel Payment Bank which supports online transactions.

You may contact your nearest branch / customer care for updating your personal details.

Please call Customer Care, alternatively you can raise the service request through the “Contact Us” menu in the website or visit the nearest branch with the request