The biggest challenge today is that the underwriters do not have the time to go through a lot of loan applications and make the decisions. Besides, there are biases that are introduced on a loan application process in assessing whether someone is a creditworthy borrower. Here, I am in conversation
The size of the employee benefits market in India is about 3.5 to 4 billion. This is in terms of the payout volume that you can do. The number of users who can be addressed is in the order of 10 million. As an industry, about 30% of this market
Payhuddle, the upstart in the certification space of payments domain, talks about its plans. Payhuddle has gotten into a mode of disruption in this space. We are moving all our test platforms to the cloud to make it easier for acquirers, issuers, vendors to debug, and certify their hosts and products. We
We did a YouTube video at the beginning of 2018 on the top 12 trends in the Payments domain. We took stock of how we performed. Before we get into that, here are the trends that we predicted at the beginning of 2018. Adoption of Open APIs will change the
The transactions in the digital payments landscape have gone up tremendously in the last few months. However, banks were stuck as they weren’t able to roll out their new acceptance infrastructure like POS, ATMs, Soft POS in the market. They had to get their certifications from the payment brands, which
NPCI will incur revenue losses to the tune of 200 crores annually Bankers claim that they would incur a loss of Rs. 5000 crores What am I talking about here? In the budget speech of July 2019, the Union Finance Minister announced that businesses with an annual turnover exceeding INR
The Indian Fintech market has been growing at an exponential pace with massive consumer adoption. India is currently ranked second behind China in fintech adoption. Slightly more than 60% of users use Fintech in India, which is much higher than the developed countries. What are the reasons for this adoption?
Demonetization is the first nail in the coffin for cash in India. UPI 1.0 is the second nail in the coffin for cash in India, making transactions much more accessible with everyone’s mobile becoming their wallet. Besides, merchants grabbed UPI with both hands as it is immediate credit to their
I recently tried transferring Rs. 1750/- to a payee account with a nationalized bank using IMPS. It is instantaneous, and my bank allows me to do IMPS transactions up to Rs. 5000/- without any formal registration. I did that, and I received the confirmation message along with the IMPS reference
Digital payment poster boys like Unified Payments Interface (UPI), Immediate Payment Service (IMPS), National Electronic Toll Collections (NETC), and Bharat Bill Payment System (BBPS) reported record plunge in volumes and values in April 2020. Aadhar enabled Payment System (AePS) is the only channel that recorded increased transactions on the back