Tips for using Forex cards effectively for your overseas trip Forex card is a type of prepaid card that can be loaded with foreign currency for use while travelling abroad. It is also known as travel cards as they are invaluable companions that help in simplifying and lightening your...
Centralised System of Records – A New Compliance Tool
Today, banks issue various prepaid instruments like prepaid cards, digital wallets, gift cards, fastags, etc. that are mandated to comply with certain regulations, as prescribed by the regulator in its master directions. At the same time, regulated entities carry out remittances, issue...
The rising trend of Cashless Payment
In recent years, the world has witnessed a remarkable surge in the adoption of cashless payment methods. Cashless payment refers to any transaction that does not involve physical cash and utilises electronic methods to transfer funds. This can include various forms such as credit or...
The Evolution of Prepaid Cards: Empowering Financial Inclusion and Digital Transactions in India and Beyond
Introduction: Prepaid cards have experienced a remarkable transformation over the past few decades, emerging as a powerful tool in the financial landscape. Originally introduced as a convenient means for gifting and travel, these cards have evolved with advancements in technology to...
Digital Payments: Revolutionising India’s Financial Landscape
India has experienced a remarkable evolution in its digital payment landscape in recent years. The swift proliferation of smartphones, internet connectivity, and government initiatives such as Digital India, Unified Payments Interface (UPI) NEFT/IMPS, Prepaid Cards/Wallets/Contactless...
How to power your business using Credit-Card-as-a-Service?
The credit card industry has achieved an unprecedented 50% growth in the last 3 years, thanks to the utilisation of co-branded cards. Large traditional banks and fintech businesses are aiming to cultivate stronger brand loyalty, increase brand visibility, and drive revenue growth by...
The Dynamics of Interchange Fees and their Impact on Businesses
Interchange fees are a critical aspect of card processing and have a significant impact on the business’s bottom line. However, it is an important component of the revenue of the payments industry, affecting both merchants and consumers. What are Interchange fees? Interchange...