The recurring payment collecting method in India has drastically changed since the introduction of e-mandates in 2018. E-mandate has simplified and made it much easier for lenders to collect recurring payments with a much reduced operational costs. So, what is this E-Mandate that almost transformed the recurring payments landscape in India? Let’s dig a bit deeper to know what it…
The world’s second-fastest growing digital economy, India, is also developing into a fintech and payments hub. Both public and private sectors in India are going through rapid digital transformation by embracing automation and advanced data analytics. The Impact of Demonetization and Covid-19 pandemic: The Fintech sector in the country is one of the industries at the forefront of transformation. India’s…
Real-time Payments are accelerating the speed, innovation, and efficiency of digital payment systems, as well as redefining the future of payments. The pandemic has boosted demand for faster transactions and better digital payment solutions across industries. Contextual commerce is becoming increasingly popular, allowing customers, workers, merchants, and suppliers to conduct business more efficiently and in line with their 24/7/365 lifestyle.…
Digital payment solutions have offered users the best convenience, speed, and reliability compared to conventional payment systems. It has empowered anyone with a smart device to conduct transactions with ease, safety, and comfort. However, there can always be some scope for improvements and innovations. Here we have enlisted 6 ways to make digital payment methods more effective and convenient for…
The payment ecosystem has witnessed tectonic changes over the last decade creating constant challenges for financial institutions. An increasingly growing and competitive marketplace, more tech-savvy customers, complex regulatory requirements, and lastly a global pandemic have pushed the traditional financial institutions to evaluate opportunities for payments modernizations. Without a doubt, Payment modernization is a constant challenge for financial institutions and banks.…