BHIM (Bharat Interface for Money) is perhaps one of the major payment initiatives made by the government with the support from National Payments Corporation of India.
Traditionally cash-heavy sector faces structural hindrances as far as flow of funds is concerned
ICICI Bank cites restrictive practices and security concerns as reasons for blocking payments for its customers on Flipkart’s wallet and payments app.
The major reason for the dip in reserves is because of revaluation of the gold reserves with the central bank which is done every month end.
“ATMs should also be considered part of the digital payments channel and not treated only as machines spitting out cash,“ said Himanshu Pujara.
Customers can view a personalised summary of their consolidated bank balance from the home screen itself, with the option to view bank-specific balances too.
Optima LTA Card is built on Zeta's digital platform that is uniquely designed to process LTA claims the paperless way.
Fino Paytech is the only domestic remittance and payments company that worked as a business correspondent, to be awarded the payments bank licence.
Amitabh Kant, during his address at the Pravasi Bharatiya Divas in Bengaluru, said cards would lose their relevance as Indians will make transactions using just their thumbs through Aadhaar-enabled apps on merchant phones connected to biometric readers.
While industry sources quoted huge jump in digital payment transactions in November post demonetisation, data from the RBI shows a different picture.
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