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 […]
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…
Alternate Payment Method i.e Mobile Payments – We are living in an era of digital life. Almost everyone has a mobile device in their hand but “how do we” and “for what we” use it, may differ. Some devices are equipped with more innovative and life-changing features, which […]
Apple Pay– NFC based mobile payment service got positioned as a strategic service to drive demand for products other than payments services. Mobile money as a network-operated platform for financial services is playing a huge role in many economies. Like in the past, the emergence of new services and infrastructure (bridges, […]