Ankit Chawla

Unlocking Co-Branded Card Potential: Regulatory Insights and Best Practices

29Mar

By Ankit1 Comment

BFSI, Fintech, Payments

Unlocking Co-Branded Card Potential: Regulatory Insights and Best Practices

The Co-Branding Ecosystem Co-branded credit cards thrive on strategic partnerships between financial institutions and well-established brands. These collaborations create a symbiotic ecosystem where both parties benefit: Brand Exposure: Partnering with a recognizable brand provides financial institutions with increased visibility. The brand’s existing customer base becomes aware of the co-branded card, leading to potential new cardholders. Enhanced Customer Loyalty: Co-branded cards foster stronger customer loyalty. Cardholders feel a connection to the brand, leading to repeat transactions and increased card usage. Customized Rewards and Benefits Co-branded credit cards offer tailored rewards and benefits aligned with the partner brand’s offerings. Here are some common f...

Co-Branded Cards: Balancing Risk, Rewards, and Regulatory Compliance, 2024

29Mar

By Ankit1 Comment

Payments, BFSI

Co-Branded Cards: Balancing Risk, Rewards, and Regulatory Compliance, 2024

Introduction Co-branded credit cards have emerged as a significant trend in the financial landscape, with banks increasingly partnering with well-known brands to offer exciting rewards, exclusive features, and enticing cashbacks. These cards extend beyond traditional segments like fuel and travel, now encompassing areas such as food, movies, fashion, and more. As the popularity of co-branded credit cards soars, banks face critical questions: How profitable is this business? What should they do amidst regulatory scrutiny? And most importantly, how can they ensure compliance while choosing the right partners? What Are Co-Branded Credit Cards? A co-branded credit card is a hybrid card issued through a collaboration between a credit card company and a specific brand. These cards rewar...

PhonePe’s UPI Takes Flight in UAE: Now at NEOPAY Terminals, 2024

29Mar

By Ankit1 Comment

Payments

PhonePe’s UPI Takes Flight in UAE: Now at NEOPAY Terminals, 2024

From Rupees to Dirhams In a significant stride towards enhancing cross-border digital payments, PhonePe, the popular Indian digital wallet and payments platform, has announced a groundbreaking collaboration with Mashreq Bank in the United Arab Emirates (UAE). As of March 28, 2024, PhonePe users traveling to the UAE can now make seamless UPI payments using Mashreq’s NEOPAY terminals. This strategic alliance aims to revolutionize the payment experience for Indian tourists and the diaspora residing in the UAE. Seamless Transactions and Convenience Await PhonePe Users at NEOPAY Terminals 1. The UPI Advantage in the UAE PhonePe’s integration with NEOPAY terminals brings the Unified Payments Interface (UPI) to the heart of the UAE. Here’s how it benefits users: Familiarity: Indi...

$30 Billion Relief for Merchants?Understanding the Significance of the Settlement in addressing merchant fee concerns

28Mar

By Ankit2 Comments

Banking, Global BFSI, Payments

$30 Billion Relief for Merchants?Understanding the Significance of the Settlement in addressing merchant fee concerns

In a groundbreaking development, global payment giants Visa and Mastercard have agreed to a historic $30 billion settlement that is set to have a significant impact on merchant fees. The settlement, announced recently, aims to address long-standing concerns raised by merchants regarding the high transaction costs imposed by these payment networks. This article explores the key provisions of the settlement and examines how businesses can harness this newfound power to foster a more competitive landscape and deliver better value to consumers. Swipe Fee Reduction for Merchants: One of the significant changes resulting from the settlement is the reduction in swipe fees. Visa and Mastercard have agreed to lower the fees by four basis points, providing immediate relief to businesses. This redu...

Visa and Mastercard Agree on Landmark Settlement with U.S. Merchants Lowering Fees – Here’s What You Need to Know

28Mar

By AnkitNo Comments

Global BFSI, BFSI, Payments

Visa and Mastercard Agree on Landmark Settlement with U.S. Merchants Lowering Fees – Here’s What You Need to Know

Introduction In a groundbreaking development, Visa and Mastercard have recently reached a landmark settlement with U.S. merchants, fundamentally altering the landscape of credit card transactions. After nearly two decades of legal wrangling, this agreement promises significant benefits for businesses, particularly small enterprises. Let’s delve into the details of this historic settlement and understand its implications. The Long-Awaited Resolution For years, merchants across the United States have grappled with interchange fees – the charges imposed by credit card companies for processing transactions. These fees, often perceived as exorbitant, have been a point of contention between merchants and credit card giants. Finally, the settlement aims to address these conce...

Trust Fintech IPO Subscribed Over 11 Times on Day 2; GMP Surges, Last Day to Apply

28Mar

By AnkitNo Comments

Payments, Fintech

Trust Fintech IPO Subscribed Over 11 Times on Day 2; GMP Surges, Last Day to Apply

In a remarkable show of investor interest, the Trust Fintech IPO, a small and medium-sized enterprise (SME) offering, witnessed a subscription rate of over 11 times on the second day of the subscription period. With today marking the last day to apply, the IPO has garnered significant attention from the investing community. Impressive Retail Investor Participation Retail investors displayed tremendous enthusiasm for the Trust Fintech IPO, as the portion reserved for them was subscribed a remarkable 18.44 times on the first day of the subscription period. This strong participation signifies the confidence retail investors have in Trust Fintech's growth potential. Subscription Details and Allocation Breakdown The subscription data reveals a robust response from different investor categor...

Fintech’s Global Payment Domination Race, 2024

27Mar

By Ankit1 Comment

Fintech, Payments

Fintech’s Global Payment Domination Race, 2024

In the ever-evolving landscape of financial technology (fintech), global payments have emerged as a lucrative market. Startups and established players alike are vying for a slice of this pie, driven by the increasing demand for cross-border transactions. Let’s delve into how fintech companies are positioning themselves to tap into this opportunity. The Rush for PA-CB Licenses The Players: Domestic payment aggregators like Razorpay and Cashfree are leading the charge. Newer entrants such as PayGlocal and Skydo are also in the race. The Licence: To offer international payment services, both existing players and newcomers must apply for a payment aggregator-cross border (PA-CB) licence from the Reserve Bank of India (RBI). The deadline for applications is April 30. The Opportunity...

Safeguard Your Digital Transactions using 8 Simple Techniques

27Mar

By AnkitNo Comments

Banking, Fintech, Payments

Safeguard Your Digital Transactions using 8 Simple Techniques

Safer Ways to Conduct Digital Transactions In an increasingly digital world, secure online transactions are essential to protect your financial information and personal data. Whether you’re shopping online, paying bills, or transferring money, following best practices ensures a safer experience. Here are some crucial steps to enhance the security of your digital transactions: 1. Use Unique Passwords Why? A strong password is your first line of defense against unauthorized access. What to Do: Create unique passwords for each online account. Avoid using easily guessable information like birthdays or common words. Combine uppercase and lowercase letters, numbers, and special characters. Consider using a reliable password manager to securely store your passwords. ...

International Transactions on Credit Card: 2 simple ways to Disable it

27Mar

By Ankit2 Comments

Banking, Payments

International Transactions on Credit Card: 2 simple ways to Disable it

In today’s interconnected world, credit cards and digital transactions have become an essential part of our financial lives. They offer convenience, security, and flexibility. However, with the increasing prevalence of online transactions and global travel, it’s crucial to understand the risks associated with international credit card usage. In this article, we’ll delve into why international transactions pose a higher risk and explore steps to safeguard your finances by disabling them. Why Is the Risk Higher on International Transactions? Lack of 2-Factor Authentication (2FA): In India, domestic credit card transactions require 2-factor authentication (2FA). This means that both a PIN (for point-of-sale transactions) and an OTP (for online transactions) are necessary for adde...

Bajaj Housing Finance Initiates IPO Preparation, Aims for $9-10 Billion Valuation

27Mar

By AnkitNo Comments

NBFC, Wealthtech

Bajaj Housing Finance Initiates IPO Preparation, Aims for $9-10 Billion Valuation

Bajaj Housing Finance Gears Up for IPO, Targets Multi-Billion Dollar Valuation Bajaj Housing Finance, a subsidiary of Bajaj Finance Ltd, has commenced preparations for an initial public offering (IPO) with the goal of achieving a valuation between $9 billion and $10 billion. The move comes as a result of regulatory requirements imposed by the Reserve Bank of India (RBI) on "upper layer" non-banking financial companies (NBFCs) to list within three years of identification. Let's delve into the details of this upcoming IPO. Preparations for IPO: Bajaj Housing Finance has reportedly entered into preliminary discussions with various investment banks regarding the potential IPO. The company aims to raise approximately $900 million to $1 billion through the IPO, considering the minimum dilutio...