Shopping on Television,  Design a Friction Less Payment experience. How? 

Can I make #Payment on #Television? similar to what we do to recharge our DTH through #BharatQR or #mVISA,  or by scanning any QR code on TV (for Other Countries). This can get implemented in any country which has QR code payment system in place. Solution For -  TV #ShoppingChannels to instantly get the payments... Continue Reading →

Fintech will take away jobs in Financial Service domain. Are you Skilled enough? Watch my Video series. 

What is #FinTech?  Why does it Exist? How will it Impact Financial Services, Who will get impacted in terms of Job, Who will be the #FutureBankers,  What Schools and Colleges (#MBA & #Graduation) must do to keep their Students relevant for long when they come out of the college.  The video tries to answer these... Continue Reading →

Is Cost of Innovation too high, that we follow Copy Paste Culture. 

Is #CostOfInnovation too high ? Why most of the companies (not all) are launching #MeToo product and Copy Paste same thing which others have done, either in Same or Other country. #FinTech industry is suffering from it and everybody is entering in payment business through Plug and Play model with some provider or through White... Continue Reading →

Piyush Singh in Conversation with Mr.  Ankit Ratan, Founder of Signzy

What is #DigitalTrust ? I met Mr. Ankit Ratan, Founder of Signzy and an Indian Institute of Technology, Delhi Alumnus. In the video he is talking about his product and how he along with the team has created a platform for Digital Trust based on #ArtificialIntelligence. Watch the video to know about the business model... Continue Reading →

Fintech training to Fusion Micro Finance Institution.. 

Delivered #TrainingSession for Fusion Microfinance Institution on #FinTech and How "Digitalisation can Benefit  MicroFinanceInstitution". Discussed and Suggested #ProductDesign using following : - Unified Payment Interface (UPI) - E-Kyc - Mobile Wallet integration - OTP based pull payments - Aadhar Enabled Payment System (AePS) - Digital Loan cards - And how things can be Stitched together... Continue Reading →

Digital Payments in India, are we partying for Wrong Reasons. 

How can we expect people to use a #Payment tool if they are not aware about its Use,  Benefit and if we have not answered about #WIIFM (What's In It For Me) to them ?  Recently many transaction tools and #FinTech companies have come up and most of them are serving to the same people... Continue Reading →

Product Management and Why Cashbacks Won’t Go Long Way and is a Bad Strategy

Thanks Society for Technical Communication India, for giving me the opportunity to share my experience with Product Managers, and Technical Writers in Gurgaon. What a #Product should be made of. What is the #Story, #Content, #Value etc and how 4/6Ps must be aligned so that it doesn't need to be pushed by Huge #MarketingBudgets and #Cashbacks.... Continue Reading →

Branch less Banking Strategy,  how to win over telcos,  by Piyush Singh

#BranchLessBanking expansion #Strategy. Recently I am getting many queries from my #Domestic and #International Bank friends on how to grow through branchless banking and compete with #Telcos, as they have better reach and constant customer connect. My take on this is, do not '#Compete but #Collaborate'. Competition has only led to #bleeding of either or... Continue Reading →

Digital Transformation and New Age Banking,  by Piyush Singh at IMT Ghaziabad. 

Thank You Institute of Management Technology, Ghaziabad  IMT Ghaziabad  for being a wonderful audience and a great host.  #NewAgeBanking will Disrupt the traditional banks and their approach of providing banking services. We already have enough digital tools for #DigitalTransformation, we just need to stitch the solutions and deliver a easy to use product which is... Continue Reading →

Important question for any Start Up. 

My suggestion to any #StartUp is find answer to the following question.  "Who Will Pay (Identify customer and consumer), For What (The Problem) and How much, for your Solution ". This will solve many confusions. Mentoring #StartUps in a #Hackathon to design #FinTech solutions to solve real life financial problems. I Was Amazed to see... Continue Reading →

To go cashless prime the next generation Now!! 

I Strongly Believe that If we have to increase #Adoption of Cashless Economy and #Digitalisation. Students and Children must be taught about it so that our Next Generation doesn't have any Inertia towards #DigitalPayments, #CashlessEconomy, and #FinTech adoption.  This Serves two purpose #1.Teach Students about it and in turn they will teach their relatives to... Continue Reading →

#HealthTech and #FinTech must Marry now. HealthTech is the next biggest beneficiary of Digitalisation..

#HealthTech and #FinTech must meet now.  I think healthcare will be the next Biggest beneficiary of FinTech services. It has a huge potential to convert Cash to Digital. There are few #Structural issues which will not allow this to happen at a faster pace, while few issues are natural,  few are created for ease and... Continue Reading →

Digitalisation in MicroFinance Institutions have more problems than just Systems : Manage People, Process & Practices.

How can #MicroFinanceInstitutions  get benefitted with Digitalisation & #FinTech : 1. Use Aadhar number and EKYC to onboard customers 2. Use  #Aadhar number for Credit check unless you have taken Voter Id number as identifier,  even if you have done it link voter Id numbers with Aadhar numbers as one time activity 3. #UPI/Aadhar number... Continue Reading →

Is FinTech a Result of Frustration from Traditional Banking Services?

What is #FinTech?  Companies providing Banking and Financial Institution Services to #Customers through efficient use of #Technology, Simple Explanation and #Distribution of the products and Sevices to  people desirous to get these services. But why does it Exist as an added layer to banking services and hence adding cost in the #Value Chain? Why can't... Continue Reading →

Alternate use of Bank ATMs

Leverage on Bank ATMs. Can Banks tie up with Non Financial service providers/Government? There are approx 2 Lakh ATMs in the country, i.e "2 lakhs Electronic Machines, mostly with Internet connectivity, capable of offering Self Services". Let us assume 60% working (please suggest a figure) with daily cashloads, rest are there as assets with irregular/no... Continue Reading →

Financial Inclusion Myth Buster..

#FinancialInclusionMyth Buster - Increase in number of Smart Phones in a Country is not Directly Proportional to Financial Inclusion that a country may achieve. Well it may assist as a tool. We need to See what is the "Purpose for which Smart Phones are being used by people who are Financially Excluded". -> Plus their... Continue Reading →

Is Payment the Lowest Hanging Fruit for Fintech?

As I always say #Payment is the Lowest hanging fruit for a FinTech company hence margins have also gone down. To offer #PaymentPlus+, Services to an Entity(B2B2C) or Individual (B2C), FinTech companies must start focussing on #Investment Products, #Lending, & #Insurance, (High Commission Products), else Survival will be tough in coming days... "#Insurance & #MutualFund... Continue Reading →

Universal Bank Strategy – Promote Open API Banking

#FullFledgeBank Strategy. I think that one day banks will become a #Platform or #Warehouse for Innovation and Basic Banking Services Only. Banks must do what they are good at and that is Basic Banking and #Compliances. Other Non Core services/Activities must be Outsourced to Partners or Done in Alliance with #FinTech partners while moderate them... Continue Reading →

FinTech will Stay for Long, Don’t Worry..

Why "#FinTech is here to Stay for Long" and Payments will Evolve bringing Ease, Efficiency and widen its base for under served population. FinTech start ups have taken some profit share of banks but ultimately the settlements will happen between Bank 2 Bank, unless #Blockchain. There are still huge number of Merchants who are not... Continue Reading →

Assistance to Manipulation :Artificial Intelligence, Artificial Emotion, Artificial Loyalty too?

#Assistance to #Manipulation. " I Am VERY MUCH Afraid", of the #Robots,  #Programmers,  #ArtificialIntelligence phenomenon gaining importance. It will make us think less and rely more on the System and Machines like our servants.  But are we sure all the servants will be #Trustworthy to us and not to their #Parents i. e Companies,  Developers, ... Continue Reading →

Mr. Henry Ford must be happy with FinTech and Current Banking.

As per the Quote. Has the Revolution started through  #FinTech? Is it right to say #Banks design #Products for Bankers than for #Customers? Will banks start to understand what Mr.  Henry Ford said as a #Customer and offer customised products for different segments than a #Fit4All product and explain it to them? I think because... Continue Reading →

Why Small Value Transactions happen in Cash across World. Why CIC to GDP is so High..

Why does #SmallValueTransactions (SVT)  still happen in #Cash across World ? Are we not serious to Monitor SVTs over Large Value Txns ? I can think of following reasons Only,  please add more.. 1. Small value txns have low involvement so keeping a transaction trail is not important 2. Annonymity in cash, 3. Lack of... Continue Reading →

Contextual Payments, The success parameter for a FinTech.

Why there is a need of #Contextual #Payments i.e a Context for every Payment? Because companies and Individuals treat Payments as Seperate system than a part of seamless customer purchase journey. Till the time #FinTech & #Payments companies do not see every transaction as a whole Single #Transaction /#Event /#Activity i.e focus on #Prior, #During... Continue Reading →

EMI Culture in India, are we Cautious Enough? Aspiration Vs Distress.

#EMI culture is Increasing in India. I have observed many things on EMI which were not there on the list earlier. Is it good for Indian #Saving culture and Spend within your means (Income) mentality? Are we #Spending first and then finding Means to pay, are we stretching our Spending to the extent that we... Continue Reading →

FinTech for Micro Lending through Smart Phone..

#FinTech for #Lending through #SmartPhone.  A Mobile Device can be the best Assessment &  #Distribution mode of #MicroLending.  It knows and Aggregates personal information more than any other device.  Any Smart Phone mobile device using #IndiaStack architecture can #Assess, #Approve, get Documents #Signed and #Disburse the Money (Small Value Loans) in the Bank Account. Now... Continue Reading →

Increased Use of E-KYC post New RBI, PPI guidelines. AUA & ASAs will reap the Benefit..

Post New #RBI #PPI Guideline, My take is that #E-KYC as service will grow and biggest beneficiary will be Authentication User Agency (AUA) and Authentication Service Agency (ASA). We shall find more #Applicants for AUA and ASA licensce. This may push the #Licensce fee upwards,  Higher #Entry barriers,  Tougher #Regulations for new Applicants.. Currently there... Continue Reading →

Global Payment System on line with AePS.

Can #AePS (Aadhar enabled Payment System),  #IndiaStack,  #UPI, #E-KYC, #Interoperable Payment systems happen in other Countries too,  through their National ID proofs or anything Similar to what we are doing in India? Developing Countries need better #DigitalFinancialServices.. Would, #Kenya,  #Indonesia,  #Vietnam,  #Bangladesh,  and other Developing Countries be Keen to do this for their #Rural population?... Continue Reading →

IndiaStack and FinTech Revolution..

#IndiaStack and #FinTech revolution. I will try to Analyse how IndiaStack will/is changing the way we #Transact. Allow me to pick up the #PresenceLess layer for Today's analysis. Aadhar has made it possible to verify a Person for Financial & Non-Financial services remotely which has resulted in Cost & Time saving, reduced TAT for service... Continue Reading →

Universal Bank Strategy – Promote Open API Banking

#FullFledgeBank Strategy. I think that one day banks will become a #Platform or #Warehouse for Innovation and Basic Banking Services Only. Banks must do what they are good at and that is Basic Banking and #Compliances. Other Non Core services/Activities must be Outsourced to Partners or Done in Alliance with #FinTech partners while moderate them... Continue Reading →

Penetrating in Rural Areas is a Better Strategy than skimming Urban Market.

Why "Penetrating in Rural Areas" is a Better Strategy than skimming Urban Market. For both #Long & #Short term strategy.. How to do It ? - #AskAndDesign not #DesignAndForce 1. High recall value for the First movers 2. Less competition as there are very few companies who wants to do the tough work 3. #BrandStickiness... Continue Reading →

Financial Inclusion Myth Buster..

#FinancialInclusionMyth Buster - Increase in number of Smart Phones in a Country is not Directly Proportional to Financial Inclusion that a country may achieve. Well it may assist as a tool. We need to See what is the "Purpose for which Smart Phones are being used by people who are Financially Excluded". -> Plus their... Continue Reading →

Is Payment the Lowest Hanging Fruit for Fintech?

As I always say #Payment is the Lowest hanging fruit for a FinTech company hence margins have also gone down. To offer #PaymentPlus+, Services to an Entity(B2B2C) or Individual (B2C), FinTech companies must start focussing on #Investment Products, #Lending, & #Insurance, (High Commission Products), else Survival will be tough in coming days... "#Insurance & #MutualFund... Continue Reading →

FinTech will Stay for Long, Don’t Worry..

Why "#FinTech is here to Stay for Long" and Payments will Evolve bringing Ease, Efficiency and widen its base for under served population. FinTech start ups have taken some profit share of banks but ultimately the settlements will happen between Bank 2 Bank, unless #Blockchain. There are still huge number of Merchants who are not... Continue Reading →

Aadhar for Credit Rating Check, Possible ?

One of the Issues in #IndividualLENDING for Rural People is lack of their Credit Score" and hence repayment credibility. #FinTech4Lending - I Forsee that, If "Aadhar is Linked with PAN", an Authorised organization should be able to pull up the Credit Score of a person through his/her Biometrics. Thumb impression can be considered as the... Continue Reading →

Big Challenge, Small Finance Bank

#BigChallenge4SmallFinanceBank - RURAL People may not put their Savings where they have parked their Liabilities. How to deal with it ? "Small Finance Bank #SFB Strategy" Well drafted regulations to increase Financial Inclusion, and the licenses are given to MFIs, LABs (Local Area Banks) etc which have strong hold in the intended segment and have... Continue Reading →

Payments Bank Strategy – Its Not Fair

The "PAYMENTS Bank Strategy" (Personal View) - With current set of regulations unless relaxed, I Foresee that Payment bank will Either "Cease to Exist or Become a Small Finance Bank / Get merged with a Full fledged Bank". It may take another TWIST and will become the Corporate BCs of Banks (Survival). Payment banks are... Continue Reading →

Alternate use of Bank ATMs

Leverage on Bank ATMs. Can Banks tie up with Non Financial service providers/Government? There are approx 2 Lakh ATMs in the country, i.e "2 lakhs Electronic Machines, mostly with Internet connectivity, capable of offering Self Services". Let us assume 60% working (please suggest a figure) with daily cashloads, rest are there as assets with irregular/no... Continue Reading →

Strategy for “Payments and Transaction Start Ups

Strategy for "Payments and Transaction Start Ups". When you start, Customers will trust the System and Affiliations more than the efficiency of the product. So the Strategy for Bootstraped Start Ups in FinTech space can be, Either get the Affiliations from a well known authority which you can boast or Distribute your product from the... Continue Reading →

FinTech “Go To BoP (Bottom of the Pyramid) Strategy

FinTech "Go To BoP (Bottom of the Pyramid) Strategy". Most of the Fintech companies are just scratching the surface in Metros and at Max tier 2 cities, where price war has already started and game is about few BPS only. True that cost of reaching above segment is lesser due to high literacy, people already... Continue Reading →

Payment Tools & NPCI

With so many "Payment tools and Methods" being introduced recently by NPCI, the margin for - Aggregators, PSPs, FinTech companies & Banks have gone down. This will take this 'Industry to Consolidation' where few with Deep pockets, Creative products & Use Cases will "Survive & Innovate" on the thin margins, others will have to re-consider... Continue Reading →

Google, Amazon, Facebook and Apple (GAFA) & Banking ??

They say - Google, Amazon, Facebook and Apple (GAFA) can offer better "Banking Sevices" because they understand their customers better... Comparison is not right, Banks are highly regulated entities unlike social media and GAFA, and both doesn't have same purpose and offerings. Failing any one or all of GAFA may not have that serious impact... Continue Reading →

UPI 2.0 and Pay Through EMI Option..

Can UPI 2.0 - With "Pay through EMI" option increase the "Loyalty of a Customer" with an Outlet ? Be it with restaurants, Stores etc . If I am a regular customer to a restaurant, they are more likely to offer me pay by EMI option through UPI than any walk in? Can companies like... Continue Reading →

InsureTech & FinTech can Go Hand in Hand

"InsureTech & FinTech" can have a smooth ride on IoT and AI. Linking all these things with "India Stack" elements can expedite and give Insurance sector a much needed push. Will premiums also go down after Insurance Industry gets more efficiency in Acquisition, Retention, Servicing, and Disbursement ? I think, much needed Verification of cases... Continue Reading →

Government Mandate to Accept Digital Payment ?

Can the Government pass a mandate for all the Shops, Merchants, and Businesses to Keep at least one Mode of " DIGITAL PAYMENT Acceptance System/Device" at their establishment and Declare (with details probably an affidavit from a bank/ Fintech company/Self declaration for BHIM), that while filing for Registration..?? And similarly show in return filing how... Continue Reading →

eKYC in Hotel Industry

Can "e-KYC" work for HOTEL industry ? The hotel needs to keep a physical record of all resident guests, so now a guest can be AUTHENTICATED, Verified and Registered, using his/her Aadhar details either through OTP on Aadhar linked Mobile number or Through Biometric machine. Hotels can approach any AUA/KUA for this facility. And Payment... Continue Reading →

QR code & UPI in Restaurant ?

Use case of QR & UPI in Restaurant/Hotel business. After having my meal can I get a DYNAMIC QR on my hard copy Bill, which I can Scan with my Bank App/BHIM and Pay ? Alternatively, I write my VPA on my bill and the cashier initiates a PULL transaction from his counter which I... Continue Reading →

Offline to Online P2P Lending

Can we Digitise the "Offline P2P LENDING" ? An individual lender gets access to a CRM by a company which in turn charges a small fee for automating the collect payment from borrowers' account on pre-set frequency, obviously powered by a bank. "The credit Risk exposure is with Individual as in current situation the platform... Continue Reading →

Payment + is the Way Forward ..

Payment companies now have to offer more than just payments to businesses. It should be CRM+ Payments+Customer analytics+ feedback mechanism + many more things. Payments will be the backbone but other things can not be ignored if we want a merchant/business to stick with a provider. Just plugging in payments in the system may not... Continue Reading →

Now UPI @ POS in Future UPI @ ATM to withdraw Cash

After UPI @ POS, I foresee something like UPI @ ATM too, for Cash Withdrawal...So, I enter my mobile number on ATM, enter the amount and I get a dynamic QR code to scan, I scan the code with my Bank App/BHIM, authorise the payment and the ATM gives me cash. It will be an... Continue Reading →

Bharat QR Code and Payments

BharatQR code will DISRUPT the PAYMENT system by reducing the Merchant and Banks' investment in Payment acceptance INFRASTRUCTURE. Indeed a great move however now Merchant (Offline retailer) Acquisition doesn't remain an ASSET anymore. Can we imagine that we can make purchases on the move and find QR codes on Metro, Railway, Bus Stations, Airports etc... Continue Reading →

If I can Pay by Aadhar then Why Not Vote by Aadhar.

If I can "Pay by Aadhar, I should be able to cast my Vote by Aadhar and fingerprint too" My Aadhar can be linked to a poll both, and no matter where I cast my vote from, I should be able to register my vote for the candidate of my choice. Benefits. Increase in the... Continue Reading →

Comics for Children to Promote Digital Payments

Can we publish a comics / series of comics for children on use of Cashless methods and a "Mascot" around it. Anyways schools are planning to teach cashless methods in school course, so such comics will ensure that next generation is ready with Cashless / Cash Lite journey and tools, without any handholding.. The comics... Continue Reading →

Delhi Transport Corporation & Tap and Pay Solution

Can Delhi Transport Corporation (DTC) Busses offer the TAP & PAY option to its customers, similar to Delhi metro. The user informs the amount/destination to conductor (current process) conductor enters that in the machine, and TAP the user's card on the machine to complete the payment. The machine prints the receipt and transaction is completed.... Continue Reading →

Indian Railways Can Collect Fine through PoS or UPI

RAILWAYS can start collecting fines using POS, by swiping cards. It will help to curb corruption as well others will learn how to use card to make payment too. A live demo to mass is more effective than website, tv or lecturer session for people.. IRCTC...Start with few TRAINS initially. INDIAN RAILWAYS.

WiFi on PoS Terminals

How to address Internet connectivity issue for customers.. The PoS can enable wifi through POS terminals, so that even if a person doesn't have internet connectivity s/he can use the smart phone to transact. The wifi can either work on a transaction session basis or can be switched on as and when required. "Just an... Continue Reading →

Why Aadhar enabled Payment System (AePS) will work in India : (A Layman’s Guide to Aadhar enabled Payment System (AePS)

" I would take the liberty to start my thoughts with #AePS is the #DebitCardofRuralIndia & of Less Literate people".

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