Everything you need to know about Oriental Bank

What is Oriental Bank, how does it work, and how can merchants integrate this payment method into their e-commerce store?

Oriental Bank: Online transfer payment method for customers in India

E-commerce in India continues to expand at a rapid pace – with a lot more growth on the horizon. As of 2021, only approximately half of India’s 1.36 billion people are online. With some 650 billion potential e-commerce consumers, that means the country is already one of the world’s largest addressable e-commerce markets. At the same time, it shows the extent of future development that can be expected in the coming years.


But in order to sell online in India, merchants must be prepared to localize. Credit card penetration is still less than 10%, which means that consumers turn overwhelmingly to local and alternative payment methods. Powering India’s e-commerce landscape is a rich ecosystem of fintechs and payment providers offering innovative digital solutions that are tailored to local needs. 


For merchants interested in selling in India, it’s important to get to know the online payment methods that Indian consumers recognize and trust. One of them is Oriental Bank, a recently-merged Indian bank that allows customers to pay for e-commerce transactions using a pre-filled online bank transfer order.

Oriental Bank infographic PayU payment methods encyclopedia

What is Oriental Bank?

Oriental Bank is an online payment method that allows customers to transfer funds through Oriental Bank’s website. Oriental Bank offers various online banking services, including bill payment, fund transfer, applying for a new debit/credit card, opening a new fixed-deposit account, or withdrawing money from an existing one. Customers can also book train or plane tickets and check their balances without paying any additional charges. 


After merging with Punjab National Bank in April 2020, it became the second-largest public sector bank in the country. Oriental Bank has implemented new online net banking services for its customers to operate their accounts from anywhere. 




How does Oriental Bank work?

To register for online banking, a customer must visit the official website of Oriental Bank and select Online Services and Retail Banking from the menu in the Register section. After clicking on the link Register Online/Self User Registration, the customer is taken to the registration page. Next, they enter the required information, select the facility type, create a login and transaction password and submit. Once the net banking login is activated, an SMS is issued to the registered cellphone number. Finally, customers can top up their new accounts.


Customers who are registered with Oriental Bank’s online banking can choose Oriental Bank as a payment method when purchasing a product or service online. They will be redirected to the bank’s website, where they can use their credentials to log into the banking platform and complete a pre-filled transfer. The benefit of this method stems from the fact that all the data on the transfer page is already prepared. So, all it takes to complete the transfer is logging in and confirming it.




Why do merchants and consumers use Oriental Bank?

Customers enjoy a host of benefits from using Oriental Bank as a payment method. Shopping online using this net banking method is fast and convenient. There’s no need to remember details or populate fields with data to make a transfer. Also, customers are eligible for cash back by paying through net banking. Users can use this type of payment for mobile recharge or bill payment. 


For merchants, Oriental Bank is an important local payment method for reaching a vast segment of India’s e-commerce user base. Bank transfers are a popular online payment method in India, making big local names like Oriental Bank/Punjab National Bank all the more important for localizing the checkout experience.




How can merchants start accepting Oriental Bank?

Curious how merchants can enable online bank transfer payments via Oriental Bank?  The easiest and most efficient way to offer this payment method in India, along with other popular local banks for making purchases online, is by implementing a payment gateway that provides access to these and other local payment methods.


PayU helps merchants benefit from global reach as well as local expertise – by offering a single and direct connection to hundreds of local payment methods via one integrated global payment platform.

Oriental Bank FAQs (4)

When did Oriental Bank of Commerce merge with Punjab National Bank?

The merger between the state-owned Punjab National Bank (PNB) and Oriental Bank of Commerce took effect starting April 1, 2020. All of United Bank of India’s and Oriental Bank of Commerce’s nationwide branches have been merged into PNB. The merger created the second largest nationalized bank in terms of business and branch network.

Which local banks are associated with PNB?

Punjab National Bank (PNB) has acquired or merged with Bharat Bank Ltd., Universal Bank of India, Indo-Commercial Bank, Hindustan Commercial Bank, New Bank of India, Nedungadi Bank, and Oriental Bank of Commerce. Punjab National Bank was founded in 1894 and is the second largest government-owned bank in India, both in terms of business volumes and its network. 

In which countries is Oriental Bank used?

Oriental Bank is a payment method used in India, where it is one of the most popular payment methods among a large segment of online shoppers.



What are the key benefits of Oriental Bank for business?

Merchants implement Oriental Bank as an online payment method in India because it is a fast and efficient way to reach a wide share of Indian e-commerce consumers. Online bank transfers are a popular payment method for e-commerce users in India, and Oriental Bank (now part of Punjab National Bank) offers a convenient and popular payment method via direct online bank transfer.