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In recent years, digital or online payments have seen a rapid increase in the frequency and value of transactions. The global digital payments market is expected to increase from $96.19 billion in 2022 to $111.11 billion in 2023. In fact, Statista reports that the value of transactions through digital payments will reach $9.46 trillion by the end of this […]

In 2023, the Federal Reserve launched FedNow, a groundbreaking interbank payment system that offers instantaneous means for financial institutions to transfer funds within the United States. This article will outline the capabilities and advantages of FedNow, as well as everything you should know about it. What is FedNow? FedNow is an instant payment infrastructure developed […]

In the age when trends like the Great Resignation are making headlines, it can be prudent to ask, “What makes people stick around”? More often than not, it is because employees believe that the organization remains true to its values and these values are conducive not only to organizational growth, but individual growth. The focus […]

Credit cards have become an inevitable part of today’s lifestyle. Yet, with the increasing complexity of available options, understanding the intricacies of credit card features can seem daunting. One such feature that often leaves cardholders perplexed but holds the potential to refashion their financial transactions is the “Credit Card EMI” — a mode of repaying […]

According to the Bank of England, the global volume of cross-border payments is projected to surpass nearly 250 trillion in 2027. As the global economy becomes more interconnected, it is crucial to demystify the intricacies of cross-border payments and address the common challenges that arise.  Traditional methods of conducting cross-border transactions often have limitations, such as high […]

Powered by contactless technology, the National Common Mobility Card (or NCMC) is fast emerging as the default choice for cashless transactions among Indian commuters. Launched in 2019, NCMC enables travelers to access different modes of transport across the country. Currently, it is accepted in transport systems, including Delhi & Mumbai Metro rail, Mumbai’s BEST bus […]

The banking sector has demonstrated increased adoption of AI-powered technologies in the past few years. In fact, research suggests that AI in the banking market is expected to grow at a whopping CAGR of 32.36% up until 2030. Now, a fresh wave of innovation powered by generative AI (or GenAI) technology is engraving its foot in the […]

In the present cloud-based ecosystem, APIs have become extremely popular as a way to integrate or connect different applications or systems.  Valued at $4.5 billion in 2022, the API management market is expected to triple in size between 2022 and 2027 – all while growing at a CAGR of 25.1%. In the payments domain, the significance of […]

In August 2023, we witnessed a landmark achievement in India’s financial prowess. The country’s homegrown UPI payment infrastructure recorded over 10 billion transactions in a single month. As UPI continues to be the flag bearer of innovation in India’s fintech landscape, the Reserve Bank of India has just announced a new addition that broadens the spectrum of […]

The spectrum of interest rates on credit cards available to the average person is broad, ranging from 5.88% to a massive 52.85% annually. Within this range of interest rates, the upper end may represent considerable monetary difficulties, potentially loading borrowers with sizable interest fees that continue to build up over time. As customers confront the consequences […]