Recurring payments are a backbone for many businesses today—from loan EMIs to insurance premiums to subscription services. But here’s something most payment workflows still struggle with: getting customers to complete their NACH mandate registration successfully. A surprising number of mandates fail mid-way. Why? Because not every bank follows the same rulebook. What seems like a simple authentication step to us…
Digital transformation continued to be an important trend in banking since 2018 and especially since the pandemic. Similar to its impact on other business domains, technology is rapidly changing every facet of the financial services industry. However, the sector still has a long way to go with a substantial percentage of banks are yet to launch a digital transformation strategy. …
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…
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…
