Latest Breaking News On - தேசிய மின்னணு நிதி பரிமாற்றம் - Page 7 : comparemela.com
No NEFT service for 14 hours on May 23: RBI
aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
Payment pipeline issues block direct bank deposits to crypto-exchanges
medianama.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medianama.com Daily Mail and Mail on Sunday newspapers.
How Hylobiz is boosting invoice management for SMBs with seamless digitisation
150
For most small and medium-sized businesses (SMB) in India, invoice management is a tedious process. Typically, when an SMB generates an invoice on an enterprise resource planning (ERP) software, it is distributed among relevant parties manually or as emails or even as WhatsApp forwards.
As the due date looms, SMBs start reminding clients about payments, again often manually. Payments are made through channels like NEFT (National Electronic Fund Transfer), RTGS (real-time gross settlement), instruments like cheques, or even cash. The last leg of the process is invoice reconciliation, and this too is often done manually.
The pandemic has accelerated the adoption of digital payments in India, especially retail digital payments. In the past year, retail digital payments have seen huge growth as more people gravitated towards digital modes of transaction owing to fear of contracting the virus and convenience. Data from the Reserve Bank of India (RBI) suggests, a slowdown in wholesale transaction value, but volume growth withstood the pandemic. Transactions through National Electronic Funds Transfer (NEFT), National Electronic Toll Collection (NETC), and the Bharat Bill Payment System (BBPS) registered acceleration over the previous year. Other retail payment platforms such as Unified Payments Interface (UPI), Immediate Payment Service (IMPS), and National Automated Clearing House (NACH) saw a near doubling of both transaction volume from 12.5 billion to 22.3 billion, and value from Rs 21.3 trillion to Rs 41 trillion between FY2020 and 2021.
vimarsana © 2020. All Rights Reserved.