We have seen what is money, currency, digital currency, central bank digital currency and their categories in the first and second parts of this 3-part blog series. Thank you for staying with me for this long. You have inspired me to complete this 3-part blog series. In this final part I shall risk expressing my […]
In the first part of this 3-part blog series, we laid the foundation for the discussion on Central Bank Digital Currency by seeking to understand what is money and what is currency. We also pondered upon the simple meaning and purpose of is digital currency and why at all it is relevant. Having done this […]
I came across an article by one of my friends about Central Bank Digital Currency (CBDC) a month ago where he had argued that CBDC can be a big threat to the traditional banks globally. Though, quite a few internationally acclaimed individuals, including Bill Gates, have predicted that the brick and mortar banks may go […]
What is UPI Mandate? A “Mandate” in the payments world is an official document which a bank account holder uses to instruct/authorize his bank to debit his account and credit a specific account in any bank. The mandate document contains the account to be debited, the amount to be debited, the account to be credited, […]
Warm-Up Convenience and control are the constant endeavors of humans. They drove humans from our early nomadic lives through agriculture, industrial revolution till today’s digital age. Convenience and control over physical activities such as travel, heavy or hard labor were of predominant focus. While advancements in this area continue to occur, today convenience and control […]
It is not new for consumers to shop for relatively high-cost goods and services such as jewelry, electronic items, vehicles, homes, etc. in Equated Monthly Instalment (EMI). While organized financing has been both available and widespread for vehicles, homes the shopping of jewelry, electronic items have been done predominantly either through down payments or through […]
Digital Payments Landscape: The Current Snapshot Rapid changes in digital technology have immensely transformed the payments industry. With a vast business model to support an existing, highly competitive market, it is imperative to look for innovation, convenience, and faster payment solutions. A massive increase in smartphone penetration and mobile wallets has accelerated the adoption of […]
The modern payment system is no more in the control of a few large institutions. With the active participation of technology players, the entire eco-system is rapidly evolving with massive innovation. The ease of making cashless payments and the holistic experience around it is making news each day. Ever-changing regulatory changes requirements and low entry […]
As per the KPMG report on Fintech India – Powering payments, digital payments are set to grow at a CAGR of 28.8% in developing Asian countries through 2024. In India, the reception of digital payments systems has been even more enthusiastic, with the Bank of International Settlements reporting that in 2018, India had seen a […]
The past 5 years, India has seen a massive growth in digital transactions, incentivized by the rapid penetration of 4G mobile internet and the 2016 demonetization. Today, the digital transactions have become common place even for micro value transactions. A digital payments interface has the following four critical essential aspects: Security Scalability Resilience Integrability The […]
