For FinTech its an opportunity to pick services to push through BaaP and BaaS model and owning an entire business paradigm is neither feasible nor desirable anymore. Almost all players who entered into payments and insurance in arena of FinTech domain are actually coming out of this game park with zero or no knowledge. This is giving too much innovation to put idea on table but takes longer to make it reality. Technical companies entering financial domain and making it interesting by doing technical integration, or “fintegration”, of fintech services, the latter interfacing directly to bank customers for banking services including insurance.
Financial inclusion is a key enabler in reducing poverty & boosting prosperity and to get delivery of financial services at affordable costs to sections of low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. Getting payment products to “understand” each other, or to be “interoperable,” is a big challenge to solve under financial inclusion model.
Convergence – My last post created some typical requests from regular readers about simplifying the post. As most of the reader mentioned it was too technical and difficult to understand, “PCRF the Liberator for Mobile Data Charging”. Here I am again attempting to make every effort to address […]
Mobile payments can be defined as any payment transactions, whether in close proximity or remote. Payments can happen through Internet, proximity technologies charge back or can be executed on mobile devices. Mobile payments market potential, as well as the different trends in business models and technologies that are shaping the global payments and mobile payments evolution are visible as opportunities to be taken up. Decision makers in banks and other financial or even out side traditional
PCRF – Policy and Charging Rules Function – It is not too old concept introduced in the last quarter of the year 2007. When standards for the 3GPP Policy Charging Control (PCC) architecture were published. According to the 3GPP standard architecture up to Release 9, a Charging System was […]