payments - NewNerve

Future of Payments in India : 5 Key Predictions

14Mar

By Ankit1 Comment

Fintech, Payments

Future of Payments in India : 5 Key Predictions

The digital payments landscape in India has experienced rapid growth over the past decade, and it is expected to continue evolving in the coming years. In this article, we will explore the key predictions for the future of payments in India based on a report by NTT Data Payment Services. These predictions shed light on the trends and developments that will shape the payment industry and provide valuable insights for businesses and consumers alike. The Rise of UPI: Unlocking the Potential of Digital Transactions The Unified Payments Interface (UPI) has been a transformative force in India's digital payment ecosystem. UPI facilitates instant fund transfers between bank accounts through mobile devices, making transactions quick, convenient, and secure. The report predicts that UPI will co...

DCS Card Centre Secures Additional S$100M: A Leap Towards Financial Innovation

12Mar

By AnkitNo Comments

AI, Fintech, Payments

DCS Card Centre Secures Additional S$100M: A Leap Towards Financial Innovation

In a remarkable financial move, Singapore’s DCS Card Centre has fortified its position in the fintech sector by securing an additional S$100 million in asset-backed notes. This strategic funding upsize brings the company’s total capital to a substantial S$400 million, marking a significant milestone in its growth narrative. The recent capital boost is a follow-up to the S$300 million raised in December 2023 and is designated for financing the receivables of DCS’s expanding clientele, which includes both retail and corporate sectors. DCS card centre DCS Card Centre’s journey of transformation and expansion is evident through its partnerships with leading payment schemes such as MasterCard and UnionPay, and an anticipated collaboration with Visa. These alliances have fac...

A Game-Changer for Cross-Border Transactions: 5 Ways to Pay Nepalese Merchants Using UPI

10Mar

By Ankit1 Comment

Blog, Fintech, Payments

A Game-Changer for Cross-Border Transactions: 5 Ways to Pay Nepalese Merchants Using UPI

UPI in Nepal: Strengthening People-to-People Ties between India and Nepal In today's interconnected world, digital payment solutions (Cross-Border Transactions) have become an integral part of our lives. The convenience, speed, and security offered by these platforms have transformed the way we conduct financial transactions. The recent announcement by the National Payments Corporation of India (NPCI) regarding the launch of Unified Payment Interface (UPI) in Nepal is a significant milestone in this regard. This collaboration between NPCI International Payments (NIPL) and Fonepay Payment Service has paved the way for Indian users to make seamless payments to Nepalese merchants using UPI. Introduction to UPI in Nepal: The introduction of UPI in Nepal opens up a world of possibilities fo...

Fintech Growth in 2024: How to Adapt and Succeed in a Changing World

10Mar

By Ankit1 Comment

Fintech

Fintech Growth in 2024: How to Adapt and Succeed in a Changing World

Introduction Over the past decade, fintech has transitioned from the fringes to the forefront of financial services. Technological progress, rapid digitization, and changing customer preferences have fueled its meteoric rise. Let’s explore how fintechs are shaping the financial ecosystem and what lies ahead. Key Themes Shaping Fintech’s Future 1. Market Capitalization and Unicorns As of July 2023, publicly traded fintechs boasted a staggering market capitalization of $550 billion, doubling since 2019. The fintech landscape also witnessed the emergence of 272 unicorns, collectively valued at $936 billion—a sevenfold increase from five years ago. 2. The 2022 Market Correction A market correction in 2022 tempered the explosive growth mome...

Unlocking UPI Sentiments: Why 73% of Users Reject Transaction Fees

10Mar

By AnkitNo Comments

Payments, Fintech

Unlocking UPI Sentiments: Why 73% of Users Reject Transaction Fees

Understanding UPI Users’ Sentiments on Transaction Fees In the rapidly evolving landscape of digital payments, the Unified Payments Interface (UPI) has emerged as a game-changer. Its seamless and instant fund transfer capabilities have revolutionized the way we transact. However, recent discussions around introducing transaction fees have sparked debates. A recent survey sheds light on a critical aspect: transaction fees. Let’s explore the survey findings and their implications. Survey Findings: A Resounding Opposition to Transaction Fees According to a comprehensive survey conducted by LocalCircles, a pollster specializing in governance and public issues, 73% of UPI users are vehemently opposed to the idea of charging transaction fees for UPI transactions123. These findings...

RBI and Nepal Rastra Bank Collaborate for UPI-NPI Linkage to Boost Cross-Border Digital Payments

16Feb

By Ankit1 Comment

Blog

RBI and Nepal Rastra Bank Collaborate for UPI-NPI Linkage to Boost Cross-Border Digital Payments

RBI and Nepal Rastra Bank Sign Pact for UPI-NPI Linkage The Reserve Bank of India (RBI) and the Nepal Rastra Bank (NRB) have signed terms of reference to integrate their fast payment systems, India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI). This collaboration aims to streamline cross-border remittances between the two countries, enabling users of both systems to conduct instant, cost-effective fund transfers. After the signing of the terms of reference, the necessary systems will be implemented to interlink UPI and NPI. The formal launch of the UPI-NPI linkage will take place at a later date, as announced by the RBI. This integration between the RBI and NRB will deepen financial connectivity and reinforce the historical, cultural, an...