digital payments, FinTech, payments, Tap & Pay

Neither All Automations are Good, nor all Frictions are Bad – Digital Payments

Neither All Automations are Good, nor all Frictions are Bad. - Digital Payments. Auto reading of SMS and OTPs. Are we offering convenience or making the important part irrelevant. Are we making customers Smarter, Faster or Dumb? We need to ask and understand what is the purpose of OTP, 2FA. To take #Consent, inform customers that… Continue reading Neither All Automations are Good, nor all Frictions are Bad – Digital Payments

Alternate Lending, Alternative Lending, Blockchain, FinTech

Re-Define Collateral in Digital Lending and Economy. Youngsters are Digitally Rich than Asset Rich.

Do we need to re-define, "Collateral" in DigitalLending? Is collateral only about something physical?- Isn't storing contact details from a borrower's mobile phone collateral?- Isn't asking for social media information and taking virtual access to mobile phone collateral?My question is, can someone's YouTube, LinkedIn, Facebook content and connection quality be used as collateral for a… Continue reading Re-Define Collateral in Digital Lending and Economy. Youngsters are Digitally Rich than Asset Rich.

FinTech

Cheapest Ways to Send Money Internationally

This article is originally posted on Sigue. Whether you’re sending money overseas regularly, or just paying a few expenses while traveling, it’s important to find the cheapest way to send money internationally. Exchange and transfer fees can add up quickly. Here are some ways to transfer international remittances and other overseas payments at the lowest… Continue reading Cheapest Ways to Send Money Internationally

Alternate Lending, Alternative Lending, Bottom of the Pyramid, Financial Inclusion, FinTech

Relationship between Digital Lending, Smart Phone Battery, and Electricity.

What is the relationship between Digital #Lending, SmartPhone Battery, and Electricity? If we observe in rural areas, people save/used to save on the battery life, because they have to go to the nearby village or to any shop to get their mobile battery charged, now with the increasing availability of electricity they do not have… Continue reading Relationship between Digital Lending, Smart Phone Battery, and Electricity.

FinTech

New Umbrella Entity (NUE) guideline by RBI, Competition at What Cost ?

With the #NewUmbrellaEntity (NUE) guideline by #RBI. I think the cost of transaction/business will increase for Banks and other PSPs as they would like to partner with more than one entity as back up and as per their Business Continuity Management (BCM) policy.For e.g NPCI + X + Y etc. And I am sure each… Continue reading New Umbrella Entity (NUE) guideline by RBI, Competition at What Cost ?

FinTech

Panel Discussion cum Masterclass on “Importance of data in underwriting a Micro Finance loan”

Interesting Panel Discussion cum Masterclass, moderated by me with industry experts on “Importance of data in underwriting a Micro Finance loan”. YouTube Link attached. Thanks to the Panel for sharing their candid and interesting thoughts https://youtu.be/jlUXz17ad_U We discussed on below points; 1. Basic data points required to underwrite a loan, which you cannot afford to… Continue reading Panel Discussion cum Masterclass on “Importance of data in underwriting a Micro Finance loan”

FinTech

Arogya Setu App and Distance/Contactless Digital Payment.

With ArogyaSetu App being pushed and adopted widely in India. I am expecting contactless DigitalPayments like UPI and BharatQR code-based payment if not NFC, to be part of the app along with educational videos. National Payments Corporation of India (NPCI) and Ministry of Electronics and Information Technology can look into it, as it has become… Continue reading Arogya Setu App and Distance/Contactless Digital Payment.

FinTech

Payment is a reflection of your Personality

""#Payment is a reflection of your Personality. What you Pay for and Where you pay, through #Currency, #Time and #Data, defines who you are, your Beliefs, Motivation, Fears, and Reality etc..."" Give me your complete payment data and I can tell you what kind of personality and lifestyle you have. No surprise biggies are getting… Continue reading Payment is a reflection of your Personality

FinTech

If I can open a Bank account online why can’t I close it Online ?

When I can open a #Bank account online, why can't I close it Online? Few PSU banks state that if I close my bank account within 1 year of opening then I have to pay a fine of Rs. 500 -1000. Is #FinTech only about entering in the #DigitalFinance world and not offering an option… Continue reading If I can open a Bank account online why can’t I close it Online ?

FinTech

Bharat Bill Payment System (BBPS) for Microfinance Institutions (MFIs).

Exploring business model with National Payments Corporation of India (NPCI) to bring #NBFC Microfinance Institutions (MFIs) on Bharat Bill Payment System #BBPS. It will give #MFIs the option to get their loan repayment collection done through 38 Lakhs Offline and Online touch points of different channels through any agent institutions, COUs, CSCs, telcos etc. Additionally… Continue reading Bharat Bill Payment System (BBPS) for Microfinance Institutions (MFIs).

Pic Credit - Channelfutures.com
FinTech

Bad UI UX, close the bank account, credit card and Switch.

I have decided to close my bank Account/#CreditCard/Uninstall an App which will have/has a messy user interface, illogical and lengthy login and reset password process etc. To my surprise, many big banks fall in this category even those who actually advocate #DigitalBanking and #FinTech at big forums. In the last few years, I have closed… Continue reading Bad UI UX, close the bank account, credit card and Switch.

FinTech

Single or Double Factor Authentication for Card Present transactions. Don’t force sell, please.

Why is the #FinTech world so excited to remove 2FA from digital payments? Just because it will help in faster payments? What about the payment from a stolen card? We have grievance redressal systems, but how fast and efficient it is? For companies Rs. 2000 may mean less, but not for the customers We are… Continue reading Single or Double Factor Authentication for Card Present transactions. Don’t force sell, please.

FinTech

NBFCs must be allowed to issue Credit Cards. Why ??

When #NBFCs can lend, why are they not allowed to issue a credit card, in partnership with #VISA, #MasterCard or #RuPay? Its just a different form factor of using the credit, with a bit of revenue loss.. Why do they need an Issuer Bank for #BIN, and not directly participate in the #payment system? I… Continue reading NBFCs must be allowed to issue Credit Cards. Why ??

FinTech

Revolut in India, will it disrupt or join the Cashback war?

#Revolut is planning to explore the Indian market next year and has already started hiring for a few roles. Will it change the game, or their branchless magic won't work in India like Safaricom, which could not replicate its Africa success. Should we wait for more #Cashbacks or better #CustomerExperience? My feeling is, initially they will work along with… Continue reading Revolut in India, will it disrupt or join the Cashback war?