digital payments, financial literacy, Fintech & Payments, FinTech for Inclusion, payments, Payments Bank

Cash (ATM) Or Digital. Should we wait for people to accept digital or make it happen?

Cash(ATM) or Digital? The dilemma is, whether we should have more number of #ATMs and #CashInCirculation (CIC) to serve the rural and non-digital customers or to have lesser of these to promote #Digital. If you promote ATM and Cash many new timers won't realise that Debit card can be used for purchase as well, and… Continue reading Cash (ATM) Or Digital. Should we wait for people to accept digital or make it happen?

AePS, Bharat QR Code, business correspondent, digital payments, Financial Inclusion, FinTech, Fintech & Payments, Google Tez Vs Whats App, NPCI, payments, PoS, Product Management, Tap & Pay, Unified Payment Interface (UPI), UPI, VISA

Enough of Digital Payment Tools in India. Now we need following..

We already have enough #Payment acceptance tools In #India, like UPI, BharatQR, NCMC, Aadhaar Pay, RuPay, NETC, NACH etc. We dont need anymore for retail/B2B, else it will confuse a customer. We now need to focus on the following; 1. Customer Awareness & Access 2. On ground availability of infrastructure like BCs, Debit Card issuance… Continue reading Enough of Digital Payment Tools in India. Now we need following..

digital payments, FinTech, Fintech & Payments, payments

Despite relaxation, why is Tap and Pay not picking up in India?

No two Factor #Authentication (2FA), mostly no PIN entry, on Card Present transactions and the limit defined by RBI is Rs. 2000. Though this is a great initiative but there are risks especially when the awareness on Digital #Payment is so low. May I suggest to #Banks that if they can give me an option… Continue reading Despite relaxation, why is Tap and Pay not picking up in India?

Alternate Financing, Alternate Lending, Alternative Finance, FinTech, Fintech & Payments

Alternative Lending,  are we Over Writing the Under Writing.?? 

Wish to Pick your Thoughts on #AlternativeLending and Banks' Competence to handle that "#OverWriteTheUnderWriting ". The business is growing & Technology firms are getting into it through  #FinTech door. Is it increasing because ? 1. FinTech companies are increasing/growing and have better reach 2. Banks have gone back/technically not able to cater to those people… Continue reading Alternative Lending,  are we Over Writing the Under Writing.?? 

digital payments, Fintech & Payments

Mobile Wallets Vs Banks. A worthless discussion. 

A well placed mobile #Wallet = UPI + #Bharat QR code + #BBPS with all/most of the billers + N number of Offline and Online merchants + Payment Gateway + P2P.... This is for all those who say a well placed wallet (Not #MeToo) is just a pass through. But currently a Wallet company is… Continue reading Mobile Wallets Vs Banks. A worthless discussion. 

FinTech, Fintech & Payments, New Age Banking

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

Aadhar, Aadhar Enabled Payment System, AePS, Bottom of the Pyramid, E-KYC, Financial Inclusion, FinTech, Fintech & Payments, MFI, Micro Finance Institution, Unified Payment Interface (UPI)

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

Fintech & Payments

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 Alternate use of Bank ATMs

Fintech & Payments

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 Financial Inclusion Myth Buster..

Fintech & Payments

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 Is Payment the Lowest Hanging Fruit for Fintech?

Fintech & Payments

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 Universal Bank Strategy – Promote Open API Banking

Fintech & Payments

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

Fintech & Payments

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 Universal Bank Strategy – Promote Open API Banking

Fintech & Payments

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

Fintech & Payments

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 Financial Inclusion Myth Buster..

Fintech & Payments

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 Is Payment the Lowest Hanging Fruit for Fintech?

Fintech & Payments

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

Fintech & Payments

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 Aadhar for Credit Rating Check, Possible ?

Fintech & Payments, Small Finance Bank

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 Big Challenge, Small Finance Bank

Fintech & Payments, Payments Bank

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 Payments Bank Strategy – Its Not Fair