The Future of Credit Card Transactions in India: Embracing the Contactless Revolution

As India advances in its digital transformation journey, the payments landscape is rapidly evolving. Over the past decade, driven by smartphones and government initiatives like Digital India, the financial ecosystem has seen significant shifts. One of the most notable changes is the increasing adoption of contactless payments, especially in credit card transactions. Unified Payments Interface […]

Data Privacy in Fintech: Balancing Innovation with Consumer Protection in the Indian Market

In a world that has moved to the internet and the mobile, data privacy is paramount. This is more evident in financial services. As India embraces digital financial services, the volume of sensitive consumer data has soared. Protecting this data is essential not only for regulatory compliance but also for building and maintaining consumer trust. […]

Revolutionising Credit Offerings Through Credit Line on UPI

UPI has emerged as India’s preferred payment method, constituting >75%* of the nation’s digital payment by volume. So far, UPI transactions were supported by various funding accounts like savings accounts, overdraft accounts, prepaid wallets, and Rupay Credit Cards. Now, a new addition has entered the UPI ecosystem.   Effective April 6th, 2023, the RBI has […]

Design Thinking in Credit Card Stack Development: Creating User-Centric Experiences

In today’s rapidly evolving financial landscape, where customer expectations are continually shifting, developing credit card stacks requires a strategic approach that places users at the center. Design thinking emerges as a powerful methodology for crafting credit card solutions that not only meet but exceed user expectations. Let’s explore how design thinking principles can be applied […]

Revolutionising Transit within India: Pure NCMC Cards for Effortless Mobility

In India, where millions rely on public transportation for their daily commute, the introduction of the Pure National Common Mobility Card (NCMC) is a game-changer. The Pure NCMC are PPIs for usage at Mass Transit Systems only. It aims to facilitate seamless travel across metros, trains, buses, auto-rickshaws, and cabs, while also serving as a […]

Enhancing Security and Transparency: A Comprehensive Guide to Issuer-Led Tokenization

In today’s digital era, the security of financial transactions is of utmost importance. With the rising prevalence of cyber threats and data breaches, it’s crucial for financial institutions to adopt robust security measures to protect sensitive card information. One such innovative solution gaining traction is issuer-led tokenization. Let’s explore what issuer-led tokenization is, how it […]

CARD91 introduces Optimus – Credit Card Issuance: REDEFINED

In today’s ever-evolving financial landscape, optimizing credit card management processes is imperative for sustained growth and regulatory compliance. That’s why I’m excited to introduce Optimus – an advanced credit card tech stack meticulously developed by CARD91. Optimus, derived from Latin meaning “The Best,” signifies a significant advancement in credit card life-cycle management, empowering financial institutions […]

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Unlocking the Power of Reward Loyalty Programs in Credit Cards: Enhancing Value-added Services

In today’s fast-paced world, credit cards have become an integral part of our financial landscape, offering convenience, security, and flexibility for seamless transactions both online and offline. However, credit cards go beyond mere payments, providing a range of value-added services that enhance the overall user experience. One such service gaining prominence is the Reward Loyalty […]

New to Credit – A millennial’s wishlist from Credit Cards

After reading Amit’s blogpost that projects a whopping doubling of the credit card customer base within the next 4 years, I could not help but wonder which is the major segment of India’s population that could qualify as “The Aspirational Indians”. It didn’t take me a lot of effort. With the cues that the economic […]

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Unveiling the Potential of Credit Cards on UPI: Redefining Convenience and Reach

In the fast-changing world of digital payments, a novel payment method – Credit Card on UPI (Unified Payments Interface) is making waves in India. This dynamic duo combines the flexibility of credit cards with the seamless efficiency of UPI.   How Credit Cards and UPI Work Together Traditionally, credit cards have been all about convenience, […]

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Secured Credit Cards – A Credit Score Builder Product

Over the past few years, India’s credit card sector has experienced remarkable growth, boasting nearly 98 million active cards and transaction volume reaching 323 Million in December 2023. Projections suggest that this figure could grow to 190 million cards by 2027, driven by a burgeoning affluent class. Despite this impressive growth, a crucial question looms […]

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 […]

Centralised System of Records – A New Compliance Tool

Today, banks issue various prepaid instruments like prepaid cards, digital wallets, gift cards, fastags, etc. that are mandated to comply with certain regulations, as prescribed by the regulator in its master directions. At the same time, regulated entities carry out remittances, issue forex, international debit and international credit cards governed by tax laws. Any issuer […]

The Evolution of Prepaid Cards: Empowering Financial Inclusion and Digital Transactions in India and Beyond

Introduction: Prepaid cards have experienced a remarkable transformation over the past few decades, emerging as a powerful tool in the financial landscape. Originally introduced as a convenient means for gifting and travel, these cards have evolved with advancements in technology to meet the changing consumer needs. Prepaid Cards in India: In India, prepaid cards have […]

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. […]

The Dynamics of Interchange Fees and their Impact on Businesses

Interchange fees are a critical aspect of card processing and have a significant impact on the business’s bottom line. However, it is an important component of the revenue of the payments industry, affecting both merchants and consumers. What are Interchange fees? Interchange fees are the fees that a merchant’s bank pays to the card issuer’s […]

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 […]

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 […]

Tokenization: Creating a stir in the Payments Industry

In today’s world, increasing online frauds and cyberattacks are causing security and trust issues among the general public in the adoption of digital payments, and these data security issues have become a major concern for online service providers. The service provider has been looking into ways to reduce this risk. One such solution is “Tokenization,” […]

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 […]

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 […]

Fintech APIs are changing the landscape of financial services

Over the past decade, technology has shown tremendous impact in many industries. With the change of customer behaviour and the emergence of regulatory compliances, the landscape of the financial industry is changing. Customers are demanding a multi- and cross-channel experience, which is real-time as well as available round the clock. Thus, Banks are changing their […]

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 […]

Necessity of Revolution in Cross Border Payment process

E-Commerce has broken the political borders and offers products & services across different country borders. This has resulted in a high volume of cross-border goods and payment flows.  Cross border payments have become an integral part of the day-to-day activities of global businesses. Small Businesses’ zeal to expand their business beyond their country boundaries has […]

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 […]

Aadhaar Pay – Digitisation of Payments in India

In Today’s world of Digitalisation, the Government of India (GoI) is taking steps to provide the infrastructure and technology to promote the digital payment ecosystem. GoI has initiated steps like BHIM Aadhaar Pay, an alternative for online and card based payment to popularize digital payments in Rural India which forms 65% of Indian Population. Aadhaar […]

Is Buy Now Pay Later a Blessing or a Curse for Users?

Buy Now Pay Later (BNPL), as the name suggests, facilitates users to buy products now and pay at a later stage. The facility offers the advantages of a credit card without carrying the card at the time of payment. This concept is similar to the local Indian concept of the “Khaata system” – the consumer […]

Neobanks – Decoding everything about them!

Neobanks – Decoding everything about them!

Recently, the word Neobanks have been thrown around quite often. This may have left you wondering many things such as; Why a neobank? Are they real banks? Where is its place in the future? In this article, we have made an attempt to address everything that we think you should know about neobanks. For those […]

Neobanks – A ‘Neo’ Face to Banking

Since the evolution of the human race, Finance, Economics and Banking have significantly developed. From quasi banks and grain loans of Babylonia to the establishment of modern banks – humankind has thrived in the progress of the banking sector. However, the question here is, has the banking sector progressed since the 19th Century? Of course, […]

The Epic of our times

  Not so long ago, just before the COVID-19 happened, we couldn’t point to one event and call it a turning point in history, at least in most of our living memory. Such an outbreak at a global scale was quite uncalled for. In fact, nothing but the World Wars have altered the path of […]

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