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The payment industry is currently going through tectonic shifts, and innovation is happening rapidly, with most countries boasting of real-time payment systems. It helps reduce cash flow pains by allowing merchants to receive their revenues quickly. How do merchants, businesses, and consumers leverage real-time payment systems? It is through the
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Android POS
The mobile POS (mPOS) systems have gained a lot of traction in the last few years in the Indian market. The eCommerce platforms initially used it for the collection of payments while delivering goods. How does it work? Any smartphone or tablet can act as an mPOS machine by downloading
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SRCcm
Secure Remote Commerce (SRC) is gaining a lot of traction, and there is a lot written about it in various channels. Industry heavyweights back it and almost all the payment schemes have lined up their SRC strategy. Some of them have already started rolling out SRC payments, and some are
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SRCflow
451 Research’s Global Unified Commerce Forecast, projects online retail sales to expand to $5.8 trillion by 2022. With this growth at the backdrop, let us explore the ease with which digital commerce happens, especially the checkout experience. Most often than not, the options provided can make it confusing for the
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7 out of 10 people visiting your E-commerce site or app will not buy your products This is true irrespective of the industry and the markets that you address. Isn’t it a scary proposition to lose so many of your visitors? You’re spending time and effort in getting the perfect
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SRCall
E-commerce, otherwise known as remote commerce became popular in the 1990s and has become the preferred choice for the consumers. Remote commerce is enabled when customers enter their payment cards Primary Account Number (PAN) into a merchant’s website or shopping application. There were a variety of remote commerce implementations and
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Scenario 1: Abi travels from India to Waterloo carrying his only credit card and does the hotel payment. If the transaction is declined for no reason of his credit limit, what happens? Scenario 2: An expired terminal (yeah terminals do have a life that ends) is still in the market
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MigrationToEMV
EMV standards have helped reduce fraudulent transactions considerably, but this has forced fraudsters to move to the online world. In the year 2016, fraud in the online space has increased 30% [Source: Radial’s eCommerce Fraud Technology Lab]. Also, in the first quarter of 2017, it is reported that credit card
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MerchantCreditCharge
When a cardholder detects a fraudulent transaction in their statement, he or she files a complaint with the issuing bank. Issuing bank then investigates the transaction and if it is found fraudulent,  the bank will refund the original value to the cardholder. If the merchant fails to prove that the
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FutureofEMV
All the developed economies started moving towards a cashless economy at the beginning of the 21st century. With India becoming an economic powerhouse in the world, has set the vision a step ahead towards becoming a card-less economy by 2020, as confirmed by NITI AAYOG, a government of India initiative.
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