Here is some information about cashless India and India's comparison to other countries.Some method which provided by Indian government for support cashless economy.Need of cashless economy in India and also its challenges.
Cashless transactions are becoming more popular due to technological advancements in banking. Cashless transactions require support from banks and involve the government and RBI, making tax evasion difficult. Popular cashless methods include debit/credit cards, digital wallets, NEFT and RTGS. In contrast, cash transactions do not involve banks or the government, making tax evasion easier. The government is promoting cashless transactions to reduce black money. New digital payment methods like UPI aim to make transactions more convenient and secure.
Demonetization effect on digital payments solutions in india by Balaji Prince Bala
The aim of the research is to identify the impact of demonetization in india on the digital payment platform.
This research helps to MBA students for their better understanding about the final year project format...i hope my research will help you.. thank you..
- RuPay is an Indian domestic debit card launched in 2012 by the National Payments Corporation of India. It now has over 178 million cards issued, covering 36% of the Indian card payment market.
- The Bharat QR code allows customers to scan merchant QR codes using banking or BHIM apps to make payments by entering an amount and authentication code. This eliminates the need for point-of-sale machines.
- BHIM is a mobile app launched by NPCI in 2016 to allow money transfers through various payment modes using Aadhaar authentication. It aims to promote digital payments in India.
The document discusses India's transition to a cashless economy through various digital payment methods and initiatives by the government and Reserve Bank of India. It outlines the key benefits of a cashless economy like convenience and security. However, challenges in rural areas include low internet penetration and financial literacy. Steps are being taken to promote digital payments for farmers and provide infrastructure in villages to encourage a cashless economy across India.
This document discusses various digital payment methods available in India to encourage cashless transactions. It outlines 8 main cashless payment options: cheques, demand drafts, credit/debit cards, online transfers (NEFT/RTGS), e-wallets, UPI apps, Aadhaar Enabled Payment System (AEPS), and Unstructured Supplementary Service Data (USSD). Each method is described in 1-2 paragraphs explaining how it works and key features. The document emphasizes promoting digital payments to reduce cash usage and enable transparent transactions that can be easily traced.
The document proposes an electronic payment system submitted by 6 people including Pooja Singh and Anuj Aggarwal. It discusses the journey of payments from paper-based instruments to electronic instruments like mobile banking, ATM, and online transactions. The document also outlines trends that will transform payments in India over the next 5 years such as technology making digital payments simpler, merchant acceptance networks growing 10 times by 2020, and payments driving consumption rather than the other way around.
The document discusses India's transition to a cashless economy. It explains that demonetization in 2016 pushed India towards digital payments like mobile wallets, UPI, and banking cards. A cashless economy provides benefits like reducing black money, increasing tax collection, and reducing printing costs. The document outlines various digital payment methods and their requirements. It predicts that increased transparency, GDP, and investments through cashless transactions will make India's economy more successful.
The document outlines a digital payment awareness campaign with the objectives of enrolling 25 lakh merchants and 1 crore citizens across India's 250,000 panchayats. It discusses promoting digital payments through common service centers and various stakeholders. The benefits of a cashless economy are described, along with an implementation roadmap including training programs and support cells. Various digital payment methods like UPI, IMPS, wallets, and Aadhaar payments are explained in detail.
Cashless transactions are becoming more popular due to technological advancements in banking. Cashless transactions require support from banks and involve the government and RBI, making tax evasion difficult. Popular cashless methods include debit/credit cards, digital wallets, NEFT and RTGS. In contrast, cash transactions do not involve banks or the government, making tax evasion easier. The government is promoting cashless transactions to reduce black money. New digital payment methods like UPI aim to make transactions more convenient and secure.
Demonetization effect on digital payments solutions in india by Balaji Prince Bala
The aim of the research is to identify the impact of demonetization in india on the digital payment platform.
This research helps to MBA students for their better understanding about the final year project format...i hope my research will help you.. thank you..
- RuPay is an Indian domestic debit card launched in 2012 by the National Payments Corporation of India. It now has over 178 million cards issued, covering 36% of the Indian card payment market.
- The Bharat QR code allows customers to scan merchant QR codes using banking or BHIM apps to make payments by entering an amount and authentication code. This eliminates the need for point-of-sale machines.
- BHIM is a mobile app launched by NPCI in 2016 to allow money transfers through various payment modes using Aadhaar authentication. It aims to promote digital payments in India.
The document discusses India's transition to a cashless economy through various digital payment methods and initiatives by the government and Reserve Bank of India. It outlines the key benefits of a cashless economy like convenience and security. However, challenges in rural areas include low internet penetration and financial literacy. Steps are being taken to promote digital payments for farmers and provide infrastructure in villages to encourage a cashless economy across India.
This document discusses various digital payment methods available in India to encourage cashless transactions. It outlines 8 main cashless payment options: cheques, demand drafts, credit/debit cards, online transfers (NEFT/RTGS), e-wallets, UPI apps, Aadhaar Enabled Payment System (AEPS), and Unstructured Supplementary Service Data (USSD). Each method is described in 1-2 paragraphs explaining how it works and key features. The document emphasizes promoting digital payments to reduce cash usage and enable transparent transactions that can be easily traced.
The document proposes an electronic payment system submitted by 6 people including Pooja Singh and Anuj Aggarwal. It discusses the journey of payments from paper-based instruments to electronic instruments like mobile banking, ATM, and online transactions. The document also outlines trends that will transform payments in India over the next 5 years such as technology making digital payments simpler, merchant acceptance networks growing 10 times by 2020, and payments driving consumption rather than the other way around.
The document discusses India's transition to a cashless economy. It explains that demonetization in 2016 pushed India towards digital payments like mobile wallets, UPI, and banking cards. A cashless economy provides benefits like reducing black money, increasing tax collection, and reducing printing costs. The document outlines various digital payment methods and their requirements. It predicts that increased transparency, GDP, and investments through cashless transactions will make India's economy more successful.
The document outlines a digital payment awareness campaign with the objectives of enrolling 25 lakh merchants and 1 crore citizens across India's 250,000 panchayats. It discusses promoting digital payments through common service centers and various stakeholders. The benefits of a cashless economy are described, along with an implementation roadmap including training programs and support cells. Various digital payment methods like UPI, IMPS, wallets, and Aadhaar payments are explained in detail.
Initiative towards cashless economy in indiaTarun Sharma
The document discusses India's transition to a cashless economy through the promotion of digital payment methods. It provides an overview of various digital payment options in India like banking cards, USSD, UPI, mobile wallets, BHIM app, and their benefits in making transactions more convenient, economical and providing digital records. While demonetization increased digital payments usage, fully transitioning India will depend on factors like increasing access to banking, incentivizing digital payments, and improving telecom infrastructure.
The document discusses the National Payments Corporation of India (NPCI), an umbrella organization established to operate retail payment systems in India. It was incorporated in 2008 with the objectives of consolidating existing payment systems and facilitating affordable payment mechanisms. NPCI operates various national payment systems, including the National Financial Switch for ATM transactions, RuPay for domestic debit and credit cards, Immediate Payment Service (IMPS) for mobile fund transfers, the Cheque Truncation System (CTS) and National Automated Clearing House (NACH) for bulk transactions. The organization aims to provide standardized and interoperable payments infrastructure across the country.
This document discusses various modes of cashless transactions in India. It defines cashless transactions as any fund transfer or payment made without the use of cash, using cards, mobile phones or online banking.
It describes the major modes of cashless payments in India, including smart cards, net banking, mobile wallets, NEFT/RTGS, USSD, UPI, and ePOS. For each mode, it provides a brief overview of how the transaction works - such as inserting a debit or credit card into a POS machine to make a payment, or downloading a mobile wallet app to send money to others.
The document also lists some of the benefits of cashless transactions like convenience, discounts and easy tracking of
To watch full video click on the link below-
https://youtu.be/RRgkQ7lSdqM
NPCI, an initiative of the Reserve Bank of India (RBI) and Indian Banking Association (IBA) is an umbrella organization for operating retail payments and settlement systems in India.
It functions under provision of Payment and Settlement Systems Act, 2007.
It is a not-for-profit organization set up under the provisions of Section 25 of Companies Act, 1956 (amended as Sec 8 of Companies Act 2013).
Facilitates easy access to online payment services with variety of banking products and services.
Products offered by NPCI
IMPS (Immediate Payment Service) is an instant payment inter-bank electronic funds transfer system in India. Unlike NEFT and RTGS, the service is available 24*7 throughout the year.
NFS (National Financial Switch) is the largest network of shared ATMs in India facilitating convenience banking.
AePS (Aadhaar-enabled Payment Service) is a bank led model that allows financial transaction at PoS of any bank using the Aadhaar authentication through the retail merchant.
CTS (Cheque Truncation System) facilitates uses of digital signature or encryption methods to prevent manipulation of data during transition of cheque clearance.
UPI (Unique Payments Interface) is a system that makes multiple bank accounts to be accessed from a single mobile application using mobile no. or UPI id as unique transaction address.
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Subscribe to DevTech Finance
RuPay is an Indian domestic debit and credit card scheme launched by the National Payments Corporation of India as an alternative to international schemes like Visa and Mastercard. It aims to promote digital and cashless payments within India. RuPay cards are accepted across ATMs, point-of-sale machines, and e-commerce websites within India. Additionally, through a partnership with Discover Financial, RuPay cards can be used internationally on the Discover network outside of India. Major Indian banks issue RuPay cards to their customers to facilitate electronic payments.
National Payments Corporation of India (NPCI) is a not-for-profit organization established in 2008 to consolidate and integrate various retail payment systems in India and enable interoperable digital financial transactions. It aims to provide standardized and uniform payment systems. NPCI owns and operates core retail payment systems used by banks such as Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), RuPay, National Financial Switch (NFS) and Bharat Bill Payment System. NPCI is promoted by the Reserve Bank of India and owned by major Indian banks. It works to develop infrastructure and facilitate innovation in payments and settlement systems to drive greater financial inclusion in
The document discusses digital payments in India. It provides definitions of different types of digital payment instruments and outlines the history and evolution of digital payments in India from credit cards in 1981 to UPI in 2016. It describes key features of digital payments like convenience and security. Major reasons for increased adoption include demonetization in 2016 and expanding smartphone usage. Key digital payment methods discussed include cards, UPI, NEFT, RTGS, IMPS, internet banking, and mobile banking. The National Payments Corporation of India (NPCI) plays an important role in developing digital payment infrastructure.
Unified Payments Interface (UPI) - easy way to transfer money through banksCA Janardhana Gouda
A system for instant online bank payments. A new initiative for cashless and more digital economy. A perfect system for India in Banking System. Using of Mobile in a perfect way. (awesome feature of Virtual ID for transfer of money online through online.
Go digital by Ratika Chawla, KCMT, Bareilly (2017,Feb 11)Ratika Chawla
This document discusses digitalization in India and the various digital payment methods available. It outlines nine pillars of Digital India including broadband infrastructure, universal connectivity, and e-governance. Modes of digital payment discussed include bank cards, USSD-based mobile banking, UPI, Aadhaar Enabled Payment System, and e-wallets. The advantages of these digital methods are that they allow cashless transactions for bills, recharges, tickets, and purchases nearly anywhere. Security measures are also highlighted such as registering with banks and keeping PINs private.
Siddharth Kumar submitted a synopsis for a Google Pay application. The document outlines functional requirements like registering with phone and bank account, identifying location during transactions, cash transfers using audio, and shopping/bill pay. Non-functional requirements include high availability, quick performance with 1 second response, ability to modify data, reliable real-time updates, and strong security protections. The purpose is to allow online payments and purchases with a single tap, while sending/receiving money and earning cashback rewards.
Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India (NPCI) that facilitates inter-bank transactions between two bank accounts on a mobile platform. UPI was piloted in 2016 and allows users to instantly send and receive money using a Virtual Payment Address without entering bank details. It provides several benefits like free fund transfers, instant transfers, and convenience of accessing multiple bank accounts using one application.
E - RUPI: A Step towards Digitalization in IndiaShreyashAnand7
E-RUPI is a cashless digital payment system introduced by the Indian government. It uses QR codes or SMS strings to deliver vouchers to user's phones that can only be redeemed for a specific purpose, such as buying medicine. E-RUPI aims to help deliver services under government welfare schemes more efficiently by ensuring funds are used as intended without physical contact or the need for digital payment apps. Key benefits are that it keeps user details private, allows only intended purchases, and prevents misuse of funds. E-RUPI was launched on August 2, 2021 by the National Payments Corporation of India to promote cashless transactions for services like healthcare.
Unified payment interface towards cashless economyUpi
UPI is a payment system that allows money transfer between any two bank accounts using a smartphone. It allows customers to pay merchants directly from their bank account without entering credit card or other payment details. As of August 2016, 19 banks had launched UPI apps, allowing users to create a virtual payment address and link their bank account to make and receive payments. Transactions via UPI are secure since only a virtual address is shared, and have a limit of Rs. 1 lakh per transaction.
This document discusses digital transactions in India. It defines digital transactions as seamless, non-cash systems involving multiple participants. The objectives of digital transactions are outlined as reducing corruption, costs of printing currency, and transaction burdens while improving tracking of money flows and reviving the banking sector. Common digital payment methods in India like UPI apps, AEPS, USSD, debit/credit cards, e-wallets are described. Advantages include convenience, discounts and records while disadvantages are technical challenges and security/spending risks.
Mobile Money in Indonesia: Landscape and Developments, 2015Jeffrey BAHAR
The document discusses the development of mobile wallet markets in Indonesia from 2006 to 2015. It describes how the mobile money ecosystem includes providers, instruments, and regulators. It notes that e-money transactions grew from 2.6 million in 2008 to 203.4 million in 2014. Early mobile money services used physical cards but have increasingly moved to mobile apps. The regulations categorize e-money as registered or unregistered depending on user identity verification. Mobile money now supports various payment and transfer services.
It’s purpose is to provide safe, efficient, and accessible payment systems an...madrocks1
NPCI was established in 2008 to modernize and promote digital payments in India. It works to foster financial inclusion and innovation through various payment systems like UPI, IMPS, and RuPay cards. NPCI helps ensure payments are safe, efficient, and accessible for individuals, businesses and the government.
Initiative towards cashless economy in indiaTarun Sharma
The document discusses India's transition to a cashless economy through the promotion of digital payment methods. It provides an overview of various digital payment options in India like banking cards, USSD, UPI, mobile wallets, BHIM app, and their benefits in making transactions more convenient, economical and providing digital records. While demonetization increased digital payments usage, fully transitioning India will depend on factors like increasing access to banking, incentivizing digital payments, and improving telecom infrastructure.
The document discusses the National Payments Corporation of India (NPCI), an umbrella organization established to operate retail payment systems in India. It was incorporated in 2008 with the objectives of consolidating existing payment systems and facilitating affordable payment mechanisms. NPCI operates various national payment systems, including the National Financial Switch for ATM transactions, RuPay for domestic debit and credit cards, Immediate Payment Service (IMPS) for mobile fund transfers, the Cheque Truncation System (CTS) and National Automated Clearing House (NACH) for bulk transactions. The organization aims to provide standardized and interoperable payments infrastructure across the country.
This document discusses various modes of cashless transactions in India. It defines cashless transactions as any fund transfer or payment made without the use of cash, using cards, mobile phones or online banking.
It describes the major modes of cashless payments in India, including smart cards, net banking, mobile wallets, NEFT/RTGS, USSD, UPI, and ePOS. For each mode, it provides a brief overview of how the transaction works - such as inserting a debit or credit card into a POS machine to make a payment, or downloading a mobile wallet app to send money to others.
The document also lists some of the benefits of cashless transactions like convenience, discounts and easy tracking of
To watch full video click on the link below-
https://youtu.be/RRgkQ7lSdqM
NPCI, an initiative of the Reserve Bank of India (RBI) and Indian Banking Association (IBA) is an umbrella organization for operating retail payments and settlement systems in India.
It functions under provision of Payment and Settlement Systems Act, 2007.
It is a not-for-profit organization set up under the provisions of Section 25 of Companies Act, 1956 (amended as Sec 8 of Companies Act 2013).
Facilitates easy access to online payment services with variety of banking products and services.
Products offered by NPCI
IMPS (Immediate Payment Service) is an instant payment inter-bank electronic funds transfer system in India. Unlike NEFT and RTGS, the service is available 24*7 throughout the year.
NFS (National Financial Switch) is the largest network of shared ATMs in India facilitating convenience banking.
AePS (Aadhaar-enabled Payment Service) is a bank led model that allows financial transaction at PoS of any bank using the Aadhaar authentication through the retail merchant.
CTS (Cheque Truncation System) facilitates uses of digital signature or encryption methods to prevent manipulation of data during transition of cheque clearance.
UPI (Unique Payments Interface) is a system that makes multiple bank accounts to be accessed from a single mobile application using mobile no. or UPI id as unique transaction address.
Thank you for Watching
Subscribe to DevTech Finance
RuPay is an Indian domestic debit and credit card scheme launched by the National Payments Corporation of India as an alternative to international schemes like Visa and Mastercard. It aims to promote digital and cashless payments within India. RuPay cards are accepted across ATMs, point-of-sale machines, and e-commerce websites within India. Additionally, through a partnership with Discover Financial, RuPay cards can be used internationally on the Discover network outside of India. Major Indian banks issue RuPay cards to their customers to facilitate electronic payments.
National Payments Corporation of India (NPCI) is a not-for-profit organization established in 2008 to consolidate and integrate various retail payment systems in India and enable interoperable digital financial transactions. It aims to provide standardized and uniform payment systems. NPCI owns and operates core retail payment systems used by banks such as Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), RuPay, National Financial Switch (NFS) and Bharat Bill Payment System. NPCI is promoted by the Reserve Bank of India and owned by major Indian banks. It works to develop infrastructure and facilitate innovation in payments and settlement systems to drive greater financial inclusion in
The document discusses digital payments in India. It provides definitions of different types of digital payment instruments and outlines the history and evolution of digital payments in India from credit cards in 1981 to UPI in 2016. It describes key features of digital payments like convenience and security. Major reasons for increased adoption include demonetization in 2016 and expanding smartphone usage. Key digital payment methods discussed include cards, UPI, NEFT, RTGS, IMPS, internet banking, and mobile banking. The National Payments Corporation of India (NPCI) plays an important role in developing digital payment infrastructure.
Unified Payments Interface (UPI) - easy way to transfer money through banksCA Janardhana Gouda
A system for instant online bank payments. A new initiative for cashless and more digital economy. A perfect system for India in Banking System. Using of Mobile in a perfect way. (awesome feature of Virtual ID for transfer of money online through online.
Go digital by Ratika Chawla, KCMT, Bareilly (2017,Feb 11)Ratika Chawla
This document discusses digitalization in India and the various digital payment methods available. It outlines nine pillars of Digital India including broadband infrastructure, universal connectivity, and e-governance. Modes of digital payment discussed include bank cards, USSD-based mobile banking, UPI, Aadhaar Enabled Payment System, and e-wallets. The advantages of these digital methods are that they allow cashless transactions for bills, recharges, tickets, and purchases nearly anywhere. Security measures are also highlighted such as registering with banks and keeping PINs private.
Siddharth Kumar submitted a synopsis for a Google Pay application. The document outlines functional requirements like registering with phone and bank account, identifying location during transactions, cash transfers using audio, and shopping/bill pay. Non-functional requirements include high availability, quick performance with 1 second response, ability to modify data, reliable real-time updates, and strong security protections. The purpose is to allow online payments and purchases with a single tap, while sending/receiving money and earning cashback rewards.
Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India (NPCI) that facilitates inter-bank transactions between two bank accounts on a mobile platform. UPI was piloted in 2016 and allows users to instantly send and receive money using a Virtual Payment Address without entering bank details. It provides several benefits like free fund transfers, instant transfers, and convenience of accessing multiple bank accounts using one application.
E - RUPI: A Step towards Digitalization in IndiaShreyashAnand7
E-RUPI is a cashless digital payment system introduced by the Indian government. It uses QR codes or SMS strings to deliver vouchers to user's phones that can only be redeemed for a specific purpose, such as buying medicine. E-RUPI aims to help deliver services under government welfare schemes more efficiently by ensuring funds are used as intended without physical contact or the need for digital payment apps. Key benefits are that it keeps user details private, allows only intended purchases, and prevents misuse of funds. E-RUPI was launched on August 2, 2021 by the National Payments Corporation of India to promote cashless transactions for services like healthcare.
Unified payment interface towards cashless economyUpi
UPI is a payment system that allows money transfer between any two bank accounts using a smartphone. It allows customers to pay merchants directly from their bank account without entering credit card or other payment details. As of August 2016, 19 banks had launched UPI apps, allowing users to create a virtual payment address and link their bank account to make and receive payments. Transactions via UPI are secure since only a virtual address is shared, and have a limit of Rs. 1 lakh per transaction.
This document discusses digital transactions in India. It defines digital transactions as seamless, non-cash systems involving multiple participants. The objectives of digital transactions are outlined as reducing corruption, costs of printing currency, and transaction burdens while improving tracking of money flows and reviving the banking sector. Common digital payment methods in India like UPI apps, AEPS, USSD, debit/credit cards, e-wallets are described. Advantages include convenience, discounts and records while disadvantages are technical challenges and security/spending risks.
Mobile Money in Indonesia: Landscape and Developments, 2015Jeffrey BAHAR
The document discusses the development of mobile wallet markets in Indonesia from 2006 to 2015. It describes how the mobile money ecosystem includes providers, instruments, and regulators. It notes that e-money transactions grew from 2.6 million in 2008 to 203.4 million in 2014. Early mobile money services used physical cards but have increasingly moved to mobile apps. The regulations categorize e-money as registered or unregistered depending on user identity verification. Mobile money now supports various payment and transfer services.
It’s purpose is to provide safe, efficient, and accessible payment systems an...madrocks1
NPCI was established in 2008 to modernize and promote digital payments in India. It works to foster financial inclusion and innovation through various payment systems like UPI, IMPS, and RuPay cards. NPCI helps ensure payments are safe, efficient, and accessible for individuals, businesses and the government.
Digital money revolution in India
- India has seen a shift from traditional banking channels to electronic channels like ATMs, debit/credit cards, internet banking and mobile banking. However, digital banking adoption remains much lower in India compared to developed countries.
- The Reserve Bank of India has outlined a vision to encourage electronic payments and a less cash society in India. It has launched various initiatives over the years like ECS in 1990s to facilitate bulk/repetitive payments and fund transfers.
- Demonetization in 2016 aimed to move India towards a cashless economy. However, going fully digital faces challenges due to low internet penetration and digital literacy in India. Infrastructure like availability of smartphones, broadband connectivity, and number of
EFFECTIVENESS OF DIGITAL PAYMENTS IN RURAL BANGALOREAyesha Ali
The research paper aims to delve into the awareness, preferences, and challenges surrounding digital transactions among rural communities in Bangalore, while also examining the hurdles faced by rural residents in embracing digital payments.
This document outlines India's objectives for promoting a cashless economy through digital payments. It discusses establishing digital payment frameworks, educating citizens and merchants, and the short and long term benefits. The roadmap involves awareness campaigns using common service centers, issuing cards and machines, discounts for digital payments, and reducing transaction fees. Implementation will be led by NIC teams promoting adoption among IT professionals. The document also provides information on various digital payment options like cards, UPI, USSD, Aadhaar Pay, wallets and IMPS.
Studied technology involved in E-Wallets and how it helps in payment process,market place model, revenue generation of Paytm,its marketing strategy,demonitisation and its after effects.
UPI is a single-window mobile payment system launched by NPCI that allows users to instantly transfer money between bank accounts using only a virtual payment address. It eliminates the need for users to enter sensitive bank details with each transaction. To use UPI, a user simply downloads a participating bank's app, registers with their virtual ID like phone number, and can then send and receive money instantly. For online purchases, a user only needs to provide their virtual ID to the merchant and authenticate the transaction via their bank app. UPI aims to facilitate a digital and cashless society in India by making payments simple, secure and convenient through a single mobile interface.
This document discusses e-payment systems in India. It defines e-payment and introduces various types of e-payment methods used in India, including bank cards, UPI, NEFT, RTGS, PhonePe, Paytm, and G-Pay. It outlines the advantages of e-payments such as increased speed and sales, and instant receipts. Disadvantages include service fees, risk of theft, technical problems, and lack of access in remote areas. The conclusion states that e-payments expand markets, override traditional marketing, and make payments more convenient.
Tez is Google's mobile payment app that allows users to send and receive money through UPI. It has over 22 million users in India who use it for everyday payments. Google partners with several Indian banks to offer instant loans through Tez. Samsung Pay allows contactless payments using smartphones by transmitting credit card info through NFC or MST technologies. It is more secure than physical cards since it doesn't store actual card numbers. BHIM is India's official UPI-based app that allows users to easily send and receive money between bank accounts by entering UPI IDs or scanning QR codes. It supports 20 Indian languages and has features like requesting and sending money, blocking users, and viewing transactions.
The document discusses various digital payment methods in India including Unified Payments Interface (UPI), BHIM, BHIM Aadhaar Pay, SBI Pay, Aadhaar Enabled Payment System (AEPS), USSD, PayGov, and SBI debit and credit cards. It provides details on how each method works, transaction limits, and advantages and disadvantages. It also discusses State Bank of India's initiatives for digital financial inclusion including Digital Village and transforming villages into cashless ecosystems.
This document provides an overview of mobile money services in India. It defines mobile money and describes its key characteristics, including using agents outside bank branches to deposit and withdraw funds and initiating transactions via mobile phones. Globally, there are 411 million mobile money accounts across 93 countries. The document outlines reasons for mobile money's potential success in India, including high mobile penetration, financial inclusion needs, and government initiatives. It lists some prominent Indian mobile wallet providers and payments banks. Finally, it discusses factors important for mobile money to succeed in India, such as digital and financial inclusion, awareness/education, regulatory reforms, and customer confidence.
UPI is a single window mobile payment system launched by NPCI that allows users to instantly transfer money between bank accounts using only a virtual payment address. It eliminates the need for users to enter sensitive bank details with each transaction. To use UPI, a user simply downloads a participating bank's app, registers with their bank account details and virtual ID, then can make or receive payments by providing only this virtual ID to the payee. This simplifies payments and promotes a cashless economy.
UPI: From Local Triumph to Global Impact - A Proud Indian InnovationANAYChaturvedi
UPI is a digital payments system developed in India that allows instant fund transfers between bank accounts using a smartphone. It was launched in 2016 and has since grown rapidly, processing over 22 billion transactions worth over $556 billion in 2021. UPI has enabled widespread digital payments adoption in India, with over 300 million individuals and 50 million merchants now using UPI, displacing the use of cash. UPI's success is due to its user-friendly interface, financial inclusion, efficiency, and innovations like UPI Lite that allow offline payments and UPI credit lines that simplify accessing loans.
The document discusses various cashless payment systems introduced by the Indian government like Bharat QR, IMPS, USSD, BHIM, and upcoming Aadhaar Pay. It notes that while there are currently many options, experts believe they will converge over time. Bharat QR allows scanning a QR code to pay directly from a bank account without needing a POS terminal. UPI through the BHIM app allows transferring money using just a mobile number but has daily transaction limits. While multiple options exist now to boost digital payments, most are aimed at different use cases and the infrastructure will evolve further.
The document discusses the Unified Payments Interface (UPI), an instant real-time payment system developed by NPCI that allows money transfer between bank accounts. UPI combines multiple bank accounts into a single mobile application for easy fund transfers. It provides secure transactions without sharing private information. UPI usage in India has grown rapidly, surpassing $100 billion in transactions in October 2021. However, challenges remain in maintaining infrastructure costs and expanding financial inclusion in India.
This document provides an overview of India's progress towards becoming a cashless economy. It defines a cashless economy as one where digital means are used for all transactions and physical currency circulation is minimal. The document outlines India's steps over the past few decades to move in this direction, including the introduction of technologies like ATMs, credit cards, and mobile payment systems. It notes that while progress has been made, India still relies heavily on cash compared to other countries. The government's recent demonetization initiative and incentives for digital payments are discussed as efforts to reduce cash usage. However, challenges for rural areas with lack of infrastructure are also acknowledged. The document concludes that a completely cashless society may not be possible but India can continue
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Enhancing Asset Quality: Strategies for Financial Institutionsshruti1menon2
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
South Dakota State University degree offer diploma Transcriptynfqplhm
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
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University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
2. functioning, operated, or performed without
using coins or banknotes for money
transactions but instead using credit cards or
electronic transfer of funds.
3. Rank Country Noncash Payments' Share Of Total
Value Of Consumer Payments
% Of Population
With A Debit Card
1 Belgium 93 86
2 France 92 69
3 Canada 90 88
4 U.K 89 88
5 Sweden 89 96
6 Australia 86 79
7 Netherland 85 98
8 U.S 80 72
9 Germany 76 88
10 South Korea 70 58
4.
5. Cheque
Demand Draft
Credit Card or Debit
Card
Mobile Wallets
UPI Apps
Gift Card
Aadhaar Enabled
Payment System
Unstructured
Supplementary Service
Data
6. UPI was launched by National Payments Corporation
of India with Reserve Bank of India's (RBI) vision of
migrating towards a 'less-cash' and more digital
society.
It is a system that powers multiple bank accounts
(of participating banks), several banking services
features like fund transfer, and merchant payments
in a single mobile application.
7. It is a Mobile App developed by National Payments
Corporation of India (NPCI) along with JUSPAY, based
on UPI.
launched by Prime Minister of India Narendra Modi to
facilitate e-payments directly through bank at a Digi
Dhan programme at Talkatora Stadium in New Delhi
on December 30, 2016.
8. BHIM allow users send or receive money to
other UPI payment addresses.
BHIM allows users to check current balance in
their bank accounts.
BHIM allows users to choose different bank
account for conducting transactions.
Users can create their own QR code.
9. It is the innovative payment service launched by
NPCI includes *99# service.
*99# service was dedicated to the nation by the
Honorable Prime Minister of India Shri Narendra
Modi on 28th August 2014 as part of Pradhan
Mantri Jan Dhan Yojana (PMJDY).
*99# service has been launched to take the
banking services to every common man across
the country
10. 1. Link your number to your bank account.
2. Dial *99# from your phone.
3. Fill in the first 3 letters of your bank against
Short Name QR first 4 letter of IFSC.
4. Choose “Fund Transfer-MMID” option.
5. Enter the payee’s mobile number and MMID.
6. Enter the amount and your MPIN, leave a
space and enter the last 4 digits of your
account number
11. Works without Internet.
works even on
holidays.
Accessible through a
common code *99#
across all TSPs.
Works across all GSM
service providers and
mobile handsets.
12. AEPS allows bank to bank transactions.
You can use AEPS with the help of PoS
machines. You can withdraw or deposit cash,
send money to another Aadhar linked
account with it.
it is the most secure digital payment mode.
13. Lack of access to banking.
Consumer behavior.
Large unorganized sector.
Lack of awareness among consumers.
14. Going cashless boost economy because cost
of managing paper money is high.
Going cashless dethrone terrorism and
criminals.
You can't become corruption free unless you
are cash-free.
It also adds up to environment as no tree will
be cut for printing paper money.
It is anti-biotic for fake currencies.