Payments in Metaverse
What is Metaverse? Metaverse is a parallel online world enabling users to create their own virtual worlds, early onset of Metaverse came in 2003 with Second Life. Second Life was and is an online multimedia platform allowing users to create an avatar for themselves and have a second life in an online virtual world. […]
CBDC: Analyzing the nascent experience in China, Nigeria, and Sweden
The Reserve Bank of India (RBI) will debut the Digital Rupee in the Financial Year 2022-23, according to the Hon’ble Finance Minister of India’s Union Budget Speech on February 1, 2022. Meanwhile, China’s e-Yuan, currently in pilot mode, had its global premiere at the Beijing Winter Olympics 2022 when most foreign athletes got to experience […]
Union Budget 2022 laid the foundation and gave a blueprint of the economy for the next 25 years – from India at 75 to India at 100, with the focus on fast-tracking the economy, providing opportunities to businesses, and creating six million new jobs. Among the range of significant announcements, the reforms on Digital […]
Will the internet-free digital payments UPI Lite take off in India?
What is UPI Lite? The National Payments Corporation of India (NPCI) is working on a new solution called UPI Lite that will allow small digital payments to be made without the need for an active internet connection. The RBI announced on January 5 that digital payments of up to ₹200 could be made without […]
Embedded Credit – A great lever for B2B e-commerce platforms
Merchants & retailers rely on credit to run and grow their businesses and expand their customer base. Easy access to credit, facilitated by embedded finance, enables merchants to purchase more stock, widen their product portfolio, respond to fluctuating demand, buy high-value SKUs (which could be slow-moving), and increase the space and assets in their store. […]
PCI DSS: The standard for card security
Buoyed by the festival season euphoria, credit card transactions for the first time crossed INR 1 Lakh Crore in October 2021 and debit card transactions were upwards of INR 7.5 Lakh Crore during the same period. With such exponential growth in cashless payments, information security and privacy of cardholder data is of utmost importance. Ever […]
3-D Secure 2.0 – Making transactions Simpler and Safer
Preventing fraud plays a significant role in the digital payments space. We must have encountered many frauds, both online and offline, during our lifetime. Unfortunately, the search for effective methods to eradicate fraud never ends. Fraudsters will always find new methods to commit crimes. There are many tools available to end the same, the […]
Banking as a Service (BaaS) – Entering into a New Era of Financial Ecosystem
From the past few years, there has been an increase in the number of sectors like Travel, Retail, SAAS, etc expanding themselves into financial services. Well, Banking and Fintech is a collaboration that is still very new in the Indian economy. The new normal has definitely shaken up the world and it has impacted […]
Account Aggregators – Digitizing Transactions
What is an Account Aggregator? Account Aggregator (AA) is a compilation of all the Financial data from bank accounts, credit cards, any investment accounts and other accounts in one place. Currently, the same can be pulled out through the help of an API, etc. AA will help consumers to share all financial data […]
What are the new RBI norms with regard to recurring card payments? – All you need to know
Have you recently started receiving mails/SMS from various banks and service providers asking to re-register your e-mandates for automated payments such as OTT, newspaper subscriptions, etc?. This is because of the new RBI guidelines with regard to recurring transactions, coming into force from October 1, 2021. What are these new RBI norms? In […]
