Digitalization of Payments in The Insurance Sector – What It Means for You
The ripples of technology have touched every other industry or rather human lives on a whole. For those insurers ready to seize the moment, digitalization offers an enormous opportunity. The companies that stand to benefit the most are those who are eager to explore the facets of digital payment to reorganize all their operations, from […]
Innovating for A Fast and Secure Future of Payments
The payments industry has been one of the most active areas of innovation in the banking industry. Fintech Firms and payment solutions company are fast transforming the P2P(person to person) and B2B(business to business) payments sector. Cash & cheques, which were the norms back in the day, are now giving way to contactless and chip-based […]
The Evolving Needs of Merchant Management System
Digital disruption has changed the way businesses are executed these days. With multifarious payment options, there is a need to think and redesign the ways merchants are handled by competitive banks. Being able to accept payments through myriad channels from your customers is one of the most important elements of accelerating your business. Payment regulators […]
Growth of Cashless & Real-time Payments (UPI) in India
Introduction of UPI in 2016 and the succeeding UPI 2.0 in 2018, turned out to be a game-changer for the payment landscape in India, taking the country a step closer to a cashless economy. An end-to-end digital transacting platform, UPI has revolutionized the payment structure by bringing multiple banking features, seamless fund routing & merchant […]
Rationalizing Payment & Collections Using POBO COBO Models
Transaction banking refers to the movement of money from one place to another. It is the area of banking that addresses the operational needs and day-to-day transactions of business, corporate and institutional customers. Thus, payments and collections form an integral part of transactional banking. In today’s modern world, all major corporations have their business operations […]
Adopting Digital in Transaction Banking
The growing demand for transaction banking stems from the fact that corporate houses today seek a smarter and efficient cash management system for smooth business operations. An increasingly competitive landscape has posed critical challenges to the organizations in terms of managing multiple banking relations, performing bank account management and handling complicated account structures. ‘Digital Transaction […]
Cash Management – A Journey From The Traditional To The Smart Digital!
In today’s age of digitalization, the once-popular modes of cash & cheques are slowly ceasing to remain the primary instruments that businesses in India use for their transactions. Till now, cash management has been a cumbersome activity which required a representative of the organization to physically transport the cash and cheques to the banks, join […]
Redefining the Framework of Real-time Payments in India
The Payments landscape worldwide is undergoing a major upheaval with unprecedented players including Social Media Giants such as Facebook and newly emerging FinTech companies expanding into the digital payment-scape. Start-ups, which were once considered complementary, are also gearing up in the digital payments field, catering to the rapidly evolving customer demands triggered post the demonetization […]
Virtual Accounts: How They Actually Work
Businesses and organizations who operate a large number of bank accounts in some cases, in the thousands often experience difficulties in tracking and reconciling their payments and collections. There is also a significant cost in opening, maintaining and closing these accounts, with firms having limited control over this process, which can take months. Virtual accounts, […]
Virtual Accounts: Enhancing Collections and Payments
Today, an increasing number of organizations have begun to recognize the benefits of using a single account for channeling payments and / or collections using Virtual Accounts (VA). Virtual account add value by streamlining, rationalizing and simplifying cash management structures and the accounts receivables reconciliation process. Here are a few insights into the benefits of […]
