Payments 11:38 am
Hi55 Ventures, a disruptive new fintech company in pay, has partnered with Mastercard to launch, a market-first salary access card, enabling people to access their pay as soon as they’ve earned it.
Similar to a debit card, the card gives employees direct access to money they’ve earned in real-time, with a limit in line with their earnings. By changing how people are paid, Hi puts them directly in charge, and in control, of their pay for better budgeting. The card, issued by Railsbank – the leading global Banking-as-a-Service (BaaS) platform, is available to employees of companies who have signed up to Hi55 Ventures’ innovative platform, Hi.
Embedded Finance: The Next Big Thing In Fintech!
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COVID-19 has changed the world completely. The global lockdowns have led to huge losses for many industries. Amid all this chaos, industries with technological advantages have risen up to their peak. They have witnessed commendable growth and are expected to do the same in upcoming years.
Witnessing the saga, more and more organizations are re-routing their plans and coming up with new products and digital-based solutions. The fintech industry is no different. One of the major developments this industry facing right now is Embedded Finance.
If you are not aware of it yet, let’s find out more about it.
According to him to make these public sector banks more accountable with improved digital, risk management and other processes, the best way would be to privatise some banks.
He added, âIt would be good to not rely on so many public sector banks and hand over some into private hands and let them improve their digital, risk management and other processes.â
Explaining his view on private banks, Acharya said, âIt is not that private banks are perfect, they make their own mistakes too. But we have better ability to change management and alter the governance structure when it doesn t work in a private bank.â
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