Interoperability, that allows transactions between digital wallets, is expected to bring a paradigm shift in the digital payments industry.
As per latest data shared by the RBI, only 14% of digital transactions in the country happen outside the banking ecosystem through prepaid payment instruments or PPIs.
The chatbot is designed to provide relevant and contextual responses to customer queries and even helps make transactions on the chat window itself.
The 1.5 Tesla whole body Magnetic Resonance Imaging (MRI) scanner has been developed at a total investment of Rs 15 crore by a team of eight scientists and engineers.
WhatsApp Pay's rollout have been impacted by privacy concerns after the Facebook-Cambridge Analytica episode, and the RBI’s directive on data storage.
The company said that they have designed the product trying to make the insurance claims process simple for customers by offering a cover for screen damage and fixing the amount due at 20% of the invoice value of the phone.
The company said that the new service enables its retailers to meet the growing demand for digital payment services among the estimated 600-800 million underbanked population of India.
The startup, which caters mainly to second-hand two-wheeler buyers, has an average loan size of Rs 52,000 and a longer repayment cycle than its peers.
With only about 37.4 million credit cards currently in circulation in India, fintech startups are designing easy financing options for consumers.
UIDAI restricts access to its database by classifying payment firms as local authentication user agencies, forcing them to ask for virtual IDs.
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