4 hours ago
Fintech software developer Setu has launched several ready-to-use application programme interfaces (API) that can be used by merchants and online platforms on the Bharat Bill Payment System (BBPS). Recently, the Reserve Bank of India (RBI) changed its regulations on recurring payments or auto-debit transactions. As banks and card networks figure out the transition to a new “consent and mandate” model for recurring payments by October, Setu has enabled merchants to get a lead in the race to comply with the new rules.
In an online workshop organised by Setu on Thursday, Nikhil Kumar, co-founder and chief evangelist at Setu, or BrokenTusk Technologies Pvt. Ltd, said that India’s digital payments adoption story has taken place in three phases: Payments 1.0: offline payments at merchants through cards; Payments 2.0: adoption of payments gateways by merchants and; Payments 3.0: the adoption of the Unified Payments Interface (UPI) system and BBPS
India s e-payments space: A dawn or down of retail in India?
With the government unwilling to foot the bill on digital transactions and no viable business model for banks, there are no incentives for banks to maintain the UPI infrastructure
The payments space in India is tangled in various knots and there are many teething issues that will arise in the future
Technology companies like Google, Facebook, and Amazon are now in a new competition amongst themselves. There is a race to digitise small businesses in India by opening digital storefronts.
More than 90% of Indian retail is unorganised and large organised retailers have not been able to crack mom-and-pop stores in India called Kiranas. They also hold an undisputed sway - 98% of the grocery retail market. Therein lies the unique opportunity to make them a part of the formal organised ecosystem.
Kotak Mahindra Bank customers can pay overdue EMI through payment app
April 10, 2021
Can use Google Pay, PhonePe, Paytm Kotak Mahindra Bank customers can now pay a missed EMI or an overdue loan instalment using any payment app such as Google Pay, PhonePe, Paytm.
“Kotak Loans is now live on the Bharat Bill Payment System (BBPS) platform and customers have to simply choose ‘Kotak Mahindra Bank Loan’ as the biller name on the payment app of their choice,” the private sector lender said in a statement on Saturday, adding that details of any EMIs that are past the due date will be displayed and the payment will reflect in the customer’s loan account on a real-time basis.
In the campaign by Lowe Lintas, the brand seeks to promote its wider coverage that include all kinds of recurring payments through online and offline channels, over and above the existing utility payments
B dikhe toh bindass bill pay , Bharat BillPay in campaign by Lowe Lintas adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.