How Does Credit Card EMI Work? • December 12, 2023 - posted by Ashish Sherlekar
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 […]
Demystifying Cross-Border Payments: Common Challenges and Solutions • December 12, 2023 - posted by Debasis Mohanty
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 […]
What Is the National Common Mobility Card? • October 31, 2023 - posted by Debasis Mohanty
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 […]
Use Cases for Generative AI in Banking • October 03, 2023 - posted by Abhishek Mithal
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 […]
What Is API Monetization? • October 03, 2023 - posted by Ashish Katkar
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 […]
How the New Pre-Sanctioned Bank Credit Lines Through UPI Will Work • October 03, 2023 - posted by Sankhadeep Chakraborty
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 […]
Assessing the No-Interest Credit Card: Niche Product or a Vanguard of Change? • September 01, 2023 - posted by Ajay Wadbudhe
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 […]
Are Credit Cards Evolving Toward All-Purpose Financial Services Accounts • August 30, 2023 - posted by Ashish Sherlekar
For decades, credit cards have represented a territory of financial empowerment that has helped people transform their spending into rewarding experiences with the luxury of holding onto their liquid money till the billing dates. There are flipsides as well because credit cards are also widely considered a debt trap for consumers with poor financial discipline. […]
The Fascinating Story of Payment Cards • August 29, 2023 - posted by Debasis Mohanty
As per Statista, there will be around 28.44 billion payment cards in circulation by 2027. The domain of payment cards has evolved significantly over time, and there’s a fascinating story behind how all this has transpired. In the same vein, Hannah Fry, in her recent BBC show, presented the “secret genius” of the modern payment card. In the […]
Does Generative AI Make Current Biometric Security for Payments Obsolete? • August 04, 2023 - posted by Sankhadeep Chakraborty
For the last few years, biometric security has been touted as the future of payments. Traditionally, biometric technologies like face recognition are safer than the user name/password system. However, there have been concerns. For example, in his book “A Hacker’s Mind“, the renowned security technologist Bruce Schneier highlights the risks of biometrics data. He talks […]