Today, the younger generations spend more time on social media apps, which has positioned social commerce as the numero-uno market trend for e-commerce.
IMPS has not only changed consumer behaviour and expectations but has also paved the way for newer forms of instant payment systems to operate in India.
NEFT is an extremely convenient form of making online transactions. It also accommodates transfers to NRE and NRO accounts.
A payment compliance is a protocol that all companies must stick to while developing new payment portals.
NEFT, IMPS, and RTGS are some of the popular payment modes under Third Party Transfer that will help customer remit funds to a beneficiary.
With UPI adoption seeing new heights, banks are to start charging for Person-to-Person transactions that are made through UPI.
RBI has set up 21 ombudsman offices to facilitate the settlement of complaints regarding digital transactions.
After UPI and other advancements completely transforming how payments work, what can we expect next in the Indian Fintech space?
The BHIM App offers an easy-to-use platform for vendors and consumers across India to facilitate UPI payments.
The National Payments Corporation of India is a not-for-profit organization that aims to create nationwide standards for business and retail payments across India.