Reserve Bank of India has shown interest in allowing new ways and methods to verify customers - and this includes live video-based KYC. Why is it required? And how this will happen?
The mobile wallet users of Paytm, MobiKwik, Freecharge, Amazon Pay, PhonePe, OLA Money and others will not be able to use their mobile wallets to transact from now if the KYC is incomplete. As per the new RBI guidelines, the digital wallets…
RBI has recorded rise in UPI & eWallet transactions in comparison to debit/credit cards, which are followed by increased use of USSD, PPIs, NEFT & RTGS
The reason is convenience fee and MDR, which is charged from the customer. IRCTC wants a portion of that, and banks are refusing to give that.
Based on WeChat's Red Envelope, the Paytm Postcard feature should encourage more users to send money in this unique way.
Amidst rising competitiveness among e-Wallets, BHIM app could emerge as a winner. QR Code will also be implemented soon.
Unified Payment Interface or UPI, which was launched in April last year, is slowly but gradually becoming the most preferred platform for conducting a digital transaction. In fact, such is the momentum, that within a year of its…