Tips for using Forex cards effectively for your overseas trip Forex card is a type of prepaid card that can be loaded with foreign currency for use while travelling abroad. It is also known as travel cards as they are invaluable companions that help in simplifying and lightening your travel experiences. It is widely accepted […]
Digital Payments: Revolutionising India’s Financial Landscape
India has experienced a remarkable evolution in its digital payment landscape in recent years. The swift proliferation of smartphones, internet connectivity, and government initiatives such as Digital India, Unified Payments Interface (UPI) NEFT/IMPS, Prepaid Cards/Wallets/Contactless Payments, e-RUPI, CBDC, AEPS, Open Banking/API Integration has significantly contributed to the expansion of digital payment methods throughout the nation. […]
How to drive seamless customer onboarding using a Partner for DigiLocker KYC
DigiLocker is a Ministry of Electronics and Information Technology (MeitY) flagship initiative launched as part of the Digital India Programme. DigiLocker is a secure document repository created for the use of Indian citizens and businesses to store and retrieve important identifying documents easily. It also assists in maintaining a secure digital record of the […]
Assisted Commerce – Accelerating the growth of Digital Payments in India
India’s e-commerce sector has grown significantly over the past few years and is expected to grow multifold in the coming years. The growth has been driven by increasing internet penetration, rising smartphone adoption, and the growing popularity of online shopping among consumers. The D2C and B2B segments have seen significant growth due to the increasing […]
“The Rise of Gift Cards: How They’re Changing the Gifting Industry “
Over time, there has been a significant shift in how people give gifts to their near and dear ones, with more individuals choosing gift cards over cash. This trend has now extended to corporate gifting also, with organizations preferring to incentivise and reward employees with gift cards. This trend can be attributed to various factors […]
Benefits of Sales Incentive Payouts on Cards
Corporates typically incentivize their sales channel comprising distributors, dealers, retailers, and their own salesforce to target product-specific push or drive overall sales. There are various ways to pay out these incentives – bank account transfers, cash disbursement, discounts on additional sales, accumulation of reward or loyalty points reimbursable upon reaching a milestone, etc. However, each […]
The role of API-led technology in modernizing the BFSI industry
Technology in finance has been around for more than half a century. With the turn of the century, it became even more critical as a key differentiator, moving up from a mere enabler. However, many financial services firms continue to struggle with their legacy tech and the need to stay relevant, mainly due to the […]
Payroll Cards – Payouts made simpler and seamless
Picture this scenario – a collections agency appointed by a lender has hired 1000+ feet-on-street (FOS) workforce to facilitate collections from delinquent customers. The dilemma in front of the agency is that almost 60% of these FOS contract workers don’t have a formal savings bank account. How do you manage to pay their salaries? In […]
Infrastructure Platform-as-a-Service – Opening newer avenues for innovation in payments for the Banks
India is one of the fastest growing fintech markets in the world with a market size of $31 Bn in 2021 and is expected to reach $1 Tn by 2030, as highlighted by Dr. V. Anantha Nageswaran, Chief Economic Advisor of India, Ministry of Finance, Government of India, at the recently concluded Global FinTech Fest, […]
Evolution and Growth of POS Terminals
There has been a welcome change in the RBI March 22 BANKWISE ATM/POS/CARD STATISTICS report, PG and POS volume are shown separately helping people to understand both landscapes better. And it clearly states that POS is not going anywhere but is going to further evolve to super POS. As of today, POS can support […]
