How much a fraud costs banks?

Every dollar of fraud now costs banks and credit unions roughly $2.92 — a 9.3% increase over 2017. As worldwide card fraud continue to rise , it is fundamental that the payments industry steps up to the challenge to prevent further data breaches and losses. One of the key elements of keeping data secure is PCI […]

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Road Map for Digital Payments in India

The Reserve Bank of India has defined a vision for digital payments from 2019 to 2021, to “empower every Indian with access to a bouquet of e-payment options that is safe, secure, convenient, quick and affordable.” To this end, it says it intends to follow an approach that enhances customer experience, empowers payment systems operators and […]

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Easing Tax Regulations for boosting Startup Ecosystem

In 2016, the government had announced that startups which did not have a total turnover of INR 25 Cr and was involved in innovation and development of new products were eligible for this benefit. They were also allowed to choose the three-year term during the first seven years. These current provisions have been interpreted in a […]

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Report of “Committee on Deepening of Digital Payments”​ – Summarized Version

As per the Report of Nandan Nilekani Committee on Deepening of Digital Payments, the Reserve Bank of India (RBI) and the government must target 10X growth in the volume of digital payments in the next three years. This growth will be driven by a shift from high-value, low-volume, high-cost transactions to low-value, high-volume, low-cost transactions. Initiatives […]

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Sound -Wave Technology based payments will disrupt the low value ,high volume proximity payments in India

Sound-wave technology is working towards financial inclusion by enabling even feature phones to make digital payments. Being a software element, it can be easily integrated into existing hardware, making it cost effective. With its futuristic solution, sound-wave technology is inclusive and can help developing countries as well as technologically advanced nations to bridge all economies […]

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National Common Mobility Card Programme of India (NCMC) : One Nation , One Card

National Payments Corporation of India (NPCI) is working with the Ministry of Urban Development (MoUD) and central government for implementation of National Common Mobility Card (NCMC) program across the country. One Nation, One Card for transport mobility was launched earlier in March 2019 by our Prime Minster . These are bank-issued cards on debit, credit, […]

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