What is PPI? How can a business benefit from PPI?
PPI stands for Prepaid Payment Instrument, PPI is a method that facilitates the purchase of goods and services against the value stored on such instruments. The value stored on such instruments represents the value paid for the holder, by cash, by debit to a bank account, or by credit card. The prepaid instruments can […]
Everything You Need to Know About Your Card and Its Processing
It isn’t necessary to have intimate knowledge of the backend working of the back card system in order to find the best card processing system. But it’s a good idea to have a general understanding of how card processing works and the types of fees charged at various stages of the system. This blog is […]
Introduction of Blockchain in Fintech
Fintech being a leading light of the startup ecosystem over the years, has played crucial roles in development of the financial services industry. Strong ecosystem level changes are opening up opportunities for new business models. Introduction of blockchain technology in this evolving sector has a considerable impact and advantage. Blockchain technology is a “chain […]
THE ALCHEMY OF PAYMENTS BY-PRODUCTS- DATA MONETISATION
What is data monetization? Data Monetization refers to the process of using data to obtain quantifiable economic benefits. Earlier, payment providers were making money from the fees charged to merchants for accepting payments from their customers. But data monetization has become a new business model which generates customer insights from data via advanced analytics […]
OPEN BANKING- Is India ready to enter banking 2.0?
What is open banking? Open banking is nothing but a payment system that works on an application programming interface (API). Let’s understand it better with the help of an example. In India, how long does it take to open a new bank account? How many times do you need to verify your documents? […]
NFC: What is it?
Ever wondered what happens in the background when you say my card has a“Tap & Pay” feature? It’s because of a technology called NFC or Near Field Communication. NFC or Near Field Communication is a contactless communication technology based on a radio frequency (RF) field using a base frequency of 13.56 MHz NFC technology […]
Embedded Finance: Changing the landscape of Financial Industry
In today’s tech savvy world, customers want everything at the right time in the right quantity with minimal efforts and a seamless experience. Every Service provider is trying to provide financial products at the fingertip of the customer. This is a game changing opportunity for fintech to offer the unique, agile and ease to use […]
SWIFT gpi- Future of Cross Border payments
Cross-border payments have traditionally remained a mystery for most users except the participating banks. These payments go through a series of banks before getting credited to the recipient’s account. SWIFT is the primary method of communication used by banks in processing international payments. In the era of the global digital economy, cross border payments are […]
Digital Currency: The future of the Global Payment System
Digital currency would shift the world’s economy towards a cashless economy. Digital currency has the capability to change the perspective of individuals towards money. The continuous rise of cryptocurrencies such as Bitcoin, Ethereum has led the global central banks to explore the benefits and challenges of a regulated Digital Currency – Central Bank Digital Currency […]
What’s the Next Step in the Payment Industry for addressing Security Concerns?
Card industry has seen steady growth in the last two decades from EMV chip card (use a smart microchip to store data instead of mag stripe) payments to contactless payments, but security remains a big challenge for the industry. These concerns have led to innovations towards more reliable and secure technologies such as biometric card […]
