Understanding the future of the credit card
The future of credit cards is an exciting topic that is constantly evolving. With a shift in consumer preferences and new technology, the world is moving towards contactless payments. Consumers can tap their phones and make payments and not carry a physical credit card. This has made transacting incredibly convenient. Trends in India are reflective […]
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How to make UPI payments without an internet connection
With the advent of UPI apps such as Google Pay, PayTM, PhonePe and others, some people have stopped carrying cash altogether. From the stores in malls to your autorickshaw ride, almost everybody accepts UPI payments nowadays. UPI payments have made online transactions hassle-free and have considerably reduced the issues related to carrying cash. However, some […]
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Understanding India’s Digital Payments Journey
From shopping, traveling, borrowing, or even reserving seats at your favorite restaurants, online payments have made lives easier. The robust fintech system of India has made the world our oyster, and digital payments continue to save us time and money. But where did it all begin for us? The journey so far Following the withdrawal […]
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What is UPI Global?
The Indian economy is fast embracing digitization. According to a recent report, in July 2022, India’s instant real-time payment system, the Unified Payments Interface (UPI), registered 6.28 billion transactions and is expected to reach $440.3 billion at a CAGR of 14.80% by 2032. The modern-age payment system enables users to send and receive payments instantly […]
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A guide to Buy Now, Pay Later
Over the last few years, Buy Now Pay Later (BNPL) is steadily gaining popularity. Indian Buy Now Pay later market grew at a CAGR of ~321 % by Gross merchandise value (total value of the loans disbursed to consumers), during FY’19-FY’21. The popularity of BNPL grew during the pandemic when we saw a significant rise […]
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Open Network for Digital Commerce – ONDC – an introduction
The fast-emerging digital economy has become a supporting pillar of India’s growth in recent times. At 87%, India hits the highest FinTech adoption rate in the world against the global average of 64%. Realizing that India is a prime destination for digital payments and activities, the Government of India launched Open Network for Digital Commerce […]
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All you need to know about DigiSaathi
Time and again, the Indian government comes out with platforms and schemes to help the Indian customer with online payments. DigiSaathi is such an initiative that was introduced on March 8, 2022. The Reserve Bank of India (RBI) alongwith the National Payment Corporation of India (NPCI) launched DigiSaathi – which will help customers with digital […]
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Understanding Neo-Banking
Neo-banks are online-only fintech companies without physical branches. They are digital banks. How are they different from traditional banks? Neo-banks are revolutionizing the traditional banking system by leveraging artificial intelligence (AI) and technology. They offer personalised services to customers. Traditional banks have a physical and maybe a digital presence while neo-banks, led by a design […]
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Role of Fintech in Financial Inclusion
Financial inclusion means facilitating access to financial products and services to the entire population irrespective of economic and geographic conditions. Accessibility has been an issue in the formal financial system since its inception. However, recent advancements in technology have allowed fintech companies to positively impact the financial service through inclusion. While 20% of the Indian […]
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Why is API banking fintech’s next big bet
Today, the fintech industry is continuously disrupting the financial services ecosystem. They are enabling the use of automation to deliver an enhanced customer experience. One such example is API banking. APIs help banks in increasing customer satisfaction, meet the ever-changing needs of customers and provide secure banking solutions. Banking, as a concept, has been around […]
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