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 […]
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 […]
Budget Bonanza for Corporate BCs , Merchant Acquirers and Bharat Bill Payments Operators (BBPOs)
Government has announced Pradhan Mantri Kisan Samman Nidhi scheme (PM-KISAN), an income support scheme for 12 croressmall and marginal farmers, in the interim Budget. Under this, the farmers who own less than two hectare land will receive a total of Rs. 6,000 in three instalments in a year. The scheme is being introduced with a retrospective effect from December […]
National e-Commerce Policy aims to achieve holistic growth of sector
On 23rd Feb.19 , Department of Industry and Internal Trade released draft National e-Commerce Policy that sends a clear message that India and its citizens have a sovereign right to their data. India has proposed regulating cross border data flows, locating computing facilities within India to ensure job creation and setting up a dedicated ‘data authority’ for […]
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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