Thursday, November 21

Tag: Credit

Visa’s New Feature: One Card, Multiple Payment Options for UAE Consumers
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Fintech, Global BFSI, Payments

Visa’s New Feature: One Card, Multiple Payment Options for UAE Consumers

Visa is set to revolutionize the payment experience for consumers in the UAE and the Gulf region with its new "Visa Flex Credential" feature. This innovative solution combines credit and debit card functionalities into a single card, offering users unprecedented flexibility and convenience. The Power of Choice at Your Fingertips The "Visa Flex Credential" allows cardholders to toggle between different payment options for each transaction. Whether it's paying with credit or debit, opting for installments, or even settling in a different currency, users can choose the most suitable method for their needs. This eliminates the need to carry multiple cards, streamlining the payment process and simplifying everyday transactions. Personalized Payment Preferences The fe...
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Credit Line on UPI: 5 Opportunities Shaping the Future of Finance
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BFSI, NBFC, Payments

Credit Line on UPI: 5 Opportunities Shaping the Future of Finance

The emergence of Credit Line on UPI represents a significant leap forward in the financial landscape. This pioneering financial offering promises to reshape the lending landscape, providing individuals and businesses with seamless access to pre-sanctioned credit lines from banks, coupled with the convenience of UPI. Since its introduction in September last year, fintechs have been quick to capitalize on this breakthrough. As this transformative wave continues to gain momentum, we anticipate the following disruptions taking shape, bringing in a new era of financial accessibility and innovation. 1. UPI In-store EMI: Redefining Consumption Finance In the realm of financial innovation with Credit Line on UPI, UPI In-store EMI stands out as a groundbreaking B2B2C strategy. By first targeting ...
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Surge in Export Credit: Indian Banks Reach a 12-Month High Amidst International Demand
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BFSI

Surge in Export Credit: Indian Banks Reach a 12-Month High Amidst International Demand

Introduction to the Export Credit Surge  In an economic landscape marked by global uncertainties, Indian banks have emerged as pillars of stability and growth with a surge in export credit. The latest data reveals a remarkable surge in export credit, which has soared to a 12-month high of Rs 20,489 crore, showcasing the resilience and potential of the Indian export sector amid rising global demand. The Current Economic Scenario  The Economic Times reports that this surge is not just a fleeting spike but a sustained upward trajectory, with a 5% increase this financial year, marking the highest point since February of the previous year. This growth comes despite the ongoing Red Sea crisis, which has posed significant challenges to international trade due to piracy raids ...
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Why Credit on UPI Struggles to Gain Momentum: Unveiling the Challenges
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Fintech, Payments

Why Credit on UPI Struggles to Gain Momentum: Unveiling the Challenges

Despite the initial promise, credit transactions on the Unified Payments Interface (UPI) have not gained significant traction. The slow adoption can be attributed to several key factors outlined in a recent article. Understanding Why Credit on UPI Lags Behind: One major obstacle is the absence of a defined interchange fee structure for credit on UPI. This lack of clarity creates uncertainty among banks and hinders their willingness to participate fully. Additionally, concerns about possible cannibalization of credit card balances by larger banks have further impeded widespread acceptance. Another deterrent is the imposition of fees, such as the merchant discount rate (MDR), on merchants for credit transactions. Many merchants, accustomed to free UPI payments through bank accounts, sho...
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