Rush Hour – Mobile payments rush hours i.e. every day a new entrant in mobile payments business jumping in with or without any experience or expertise. Mobile payment businesses like ApplePay, SamsungPay, Microsoft, Google, Facebook and many more are few examples for this. All of them jumped into […]
Payments – After the year 1980 we have witnessed the rapid transformation of payment methods/instruments. From Cash papers and coins to bank cheque to mobile money. The form money has also got transformed big time from paper to bits and bytes i.e electronic. Monet got transformation from being […]
Convergence – Like many more industry professionals, I also have a dream is to see Convergence of Mobile Payments, ePayments (Payments Intelligence blended with AI, Ml and Data Science), Dedicated accounts on IN system for payments of subscription services etc. If these services can have few value-added services of […]
Accessibility is a critical success factor for any service. The role of informal institutions in providing financial services to the members of the community, and concludes by highlighting the opportunities these are present for formal financial service providers but in order to ensure accessibility of banking services, a bank has to have a wide branch network of fully branded brick and mortar marble banking halls with all the necessary security systems. The set up costs of these are so high and to recoup the same, the bank has to pass on the cost to the ultimate consumer.
Financial payments and banking started in a very inefficient and traditional way which was slow but still acceptable to the customers due to the stage in the information age. Initially, almost all the fun and joy in terms one double zero percent in shape of activities in the financial services (Except Non-Banking Services) space was attributable to banks with all the revenue being collected by the same entities…