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 […]
Are Superapps Ready to Make a Comeback? • August 03, 2023 - posted by Debasis Mohanty
At the tail end of 2022, there was a lot of talk about how superapps were dying. This discourse found more heat in Tata Group’s ambitious super app Tata Neu’s failure to engage the audience and rake in positive reviews. The Times of India reported in January 2023 that Tata Neu missed the sales target by 50%. […]
BNPL – Strategy to Balance Profit and Growth • June 20, 2023 - posted by Abhishek Mithal
Buy Now Pay Later (BNPL) is a payment option that enables consumers to make purchases and split the total cost into installments without any interest or fees. With BNPL, shoppers can buy products upfront and defer the payment over time, typically in equal installments. As such, it provides an alternative to traditional credit cards and […]
Future of ATMs in an Increasingly Cashless Payment Ecosystem • June 20, 2023 - posted by Debasis Mohanty
Over the past decade, the popularity of digital banking has reduced the importance of ATMs across the globe. As more banking customers move towards cashless payments, banks are facing serious questions about the future of ATMs. Similarly, Daryl Cornell of Triton Systems says, “The ATM ecosystem is no different than any other cyclical industry, where participants ride […]
Role of AI in Revolutionizing the Payment Industry • May 25, 2023 - posted by Ashish Sherlekar
In today’s rapidly changing business landscape, data has become an invaluable and essential asset. But making sense of this growing volume of data hasn’t been easy for banks and financial institutions. That’s where Artificial Intelligence (AI) plays a huge role in boosting payment accuracy and efficiency. Read on as we unravel the role of AI in […]
How Does BaaS Solve the Lending Problem? • May 03, 2023 - posted by Ashish Katkar
With the advent of digital banking, there is an increasing trend of non-financial companies offering a host of financial services, including online payments and lending. As expressed by leading venture capitalists, facilities like embedded finance are “making every company into a fintech company.” Today, in the lending domain, banks and financial institutions are looking at innovative ways […]
Is Behavioral Biometrics the Next Big Weapon to Fight Fraud? • April 18, 2023 - posted by Abhishek Mithal
Between April and September 2022, banking entities in India reported 2,331 fraud cases involving INR 87 crore. This marked an increase from the previous six-month period, during which 1,532 frauds involving Rs 60 crore were reported by these entities. No doubt, the banking landscape is rife with frauds perpetrated by criminals, who use social engineering and other […]
Future of Credit Card Rewards • March 07, 2023 - posted by Debasis Mohanty
Constant innovations and emerging trends in the payment space have brought about several accelerating winds of change in the credit card industry. Stringent regulatory guidelines, progressive industry initiatives, and evolving customer expectations have ushered in a new era of technology-driven, touchless transactions. As alternate payment methods emerge (and evolve), the card industry is struggling to stay afloat. […]
Trends To Watch Out For In Merchant Acquiring • February 23, 2023 - posted by Debasis Mohanty
Research shows that the global merchant-acquiring market volume will reach $41.75 trillion by 2026. There are various factors contributing to its growth. With the merchant-acquiring market growing steadily, let’s look at the trends that will likely dominate the headlines in 2023. Trends To Watch Out For In Merchant Acquiring How To Leverage the Trends to […]