Modern financial technologies

4. An industry which uses technology to improve the efficiency of financial
services. Traditionally refers to new technological methods,used for financial
purposes,which demonstrates a significant departure or development in terms of
processes,products,applications or even whole business models.
Examples are:
 Mobile payment apps
 Contactless technology
 Personal finance management apps
 Peer to peer lending
 Crowd funding
 Foreign currency platforms
INTRODUCTION

6. Technology know-how:
Any knowledge of java,c#, murex or python will help you stand out from the crowd.
Problem solving:
This is a fairly new market which is bound to encounter various problems.
Innovation:
The market is evolving quickly and innovative ways of working are needed to stay ahead of
the curve.
Data analysis:
Large amounts of “big data” will need analysing.
Project management:
Useful in almost all contract roles and especially where projects are new.
KEY SKILLS

8. Paytm.
Mobikwik.
FreeCharge.
Oxigen Money Wallet
Samsung Pay

9. PAYTM
ABOUT:
It is an Indian e-payments and e-commerce brand based out of Delhi NCR,
India. Launched in August 2010, it is a consumer brand of parent company One97
Communications. The name is an acronym for "Payment Through Mobile". The
company employs over 13,000 employees as of January 2017 and has 3 million
offline merchants across India.
Paytm was founded and incubated by One97 Communications Limited in
2010 as a prepaid mobile recharge website. In an interview, its founder Vijay
Shekhar Sharma established Paytm wallet in 2013, which became India's largest
mobile payment service platform. The surge in usage of the service was largely due
to the demonetization of the 500 and 1000 rupee currency notes.

10. RECENT
By June 2017, Paytm Mall, the recently launched online
marketplace of the Noida-based organization, has confirmed that
it is digitizing the catalogues of more than 1,000 cars and two-
wheeler dealerships to increase online usage and offline sales. In
June 2017, The Economic Times reported that Paytm was seeking
a license to set up a money market fund to enable its users to store
cash and earn interest on it. They were awaiting an approval
having already applied to India's central Reserve Bank of India to
start
Service is available through a browser, and an app is
available on the Android, Windows and iOS operating systems.
Paytm is also approved as an operating unit for integrated bill
payment system Bharat Bill Payment System, allowing multiple
payment modes for consumers.
PAYTM……..

11. MOBIKWIK
MobiKwik is an Indian company founded in 2009 that
provides a mobile phone based payment system and digital
wallet.Customers add money to an online wallet that can be
used for payments. The company launched its MobiKwik Lite
mobile app in November 2016, designed for users of older 2G
mobile networks and for those in areas with poor internet
connectivity.
MobiKwik was founded in 2009 by husband and wife
team Bipin Preet Singh and Upasana Taku Singh, a 2002
graduate of IIT Delhi, saw an opportunity to improve mobile
recharge options. He seeded the company with USD$250
thousand of his own money, developed the website and payment
options, and rented office space in Dwarka, Delhi.

12. MobiKwik launched an e-wallet system in 2012 that enabled users to deposit money online
to use for bill payments and other features. In June 2017, 80 percent of India's mobile
wallet transactions market was performed by Paytm, ITZCash and Mobikwik. In March
2017, MobiKwik's largest competitor was Paytm.
MobiKwik wallet is a semi closed wallet authorized in 2013 by the Reserve
Bank of India.The RBI license allows the company to create marketplaces where customers
can purchase goods and services from third party vendors, avoiding the reportedly high
failure rates of payment gateway transactions in India. In November 2016, MobiKwik
launched its MobiKwik Lite mobile app aimed at users in poor internet connectivity
regions and consumers using older 2G cellular networks.

13. FREECHARGE
FreeCharge is an e-commerce website headquartered in Mumbai, Maharashtra. It provides
online facility to recharge any prepaid mobile phone, postpaid mobile, DTH & Data Cards
in India.
FreeCharge was started in August, 2010 by Kunal Shah and Sandeep
Tandon. After getting seed funding of an undisclosed amount from Tandon Group and
Sequoia Capital in 2010, the company secured Series A funding of INR 200 million from
Sequoia Capital in 2011.In November 2012, the company claimed to be doing online
recharge of INR 6 million on a daily basis, translating to INR 2.19 billion a year.

14. Website and app:
It provides online facility to recharge
any prepaid mobile in India. The amount paid by the
user for recharge is returned in form of shopping
coupons of some of the top retailers in India, thereby
making the recharge virtually free. The first two
retailers for which coupons were available were
McDonald's and Barista and were followed by other
big retailers such as Café Coffee Day, Domino's Pizza,
Cromā, Puma, Shoppers Stop and Jet Airways. By
January 2012, the number of registered users of the
website were 1.5 million which increased to 2.8 million
by November 2012

15. Oxigen Services:
Oxigen Services India Pvt. Ltd., an ISO
9001:2008 certified FinTech company, is one of the major
payment solutions providers in India. It is involved in
micropayment of services and remittances in real time.It
was started in 2004 by, an alumnus of IIT Roorkee and
listed company on South African Stock Exchange, Blue
Label Telecom.
The payment solutions provider allows customers to make
mobile/DTH recharges, money transfers through bank and
Oxigen Wallet, utility bill payments, etc. As per a recent
media update, the transaction volume rate of Oxigen is 600
million transactions per annum with a customer base of
more than 150 million
OXIGEN MONEY WALLET

16. ● Oxigen Wallet, powered by Oxigen Services Pvt. Ltd. is India’s first non-
bank wallet, approved by Reserve Bank of India allowing customers to send
and receive money through popular social networking platforms.
● As per a report published in April 2016 by VCCircle, the app claims to have
20 million users, is accepted at around 9,000 merchant locations and 10,000
online sites.
● Oxigen Wallet provides solutions for money transfer, mobile & DTHTV
payments, utility bill payments, gift cards, travel, movie ticket booking and
Virtual Visa.Oxigen is the first online wallet allowing consumers to load
cash in their mobile wallet. It enables individuals to transfer money, even if
they don’t have a bank account
Oxigen Wallet

17. samsung Pay is a mobile payment and digital
wallet service by Samsung Electronics that lets users
make payments using compatible phones and other
Samsung-produced devices. The service supports
contactless payments using near-field communications,
but also incorporates magnetic secure transmission that
allows contactless payments to be used on payment
terminals that only support magnetic stripe and normal
contactless cards.
The service was launched in South Korea on August 20,
2015 and in the United States on September 28 of the
same year.
SAMSUNG PAY

18. SERVICE:
Samsung Pay was developed from the
intellectual property of LoopPay, a crowdfunded startup
company that Samsung acquired in February 2015. The
service supports both NFC-based mobile payment
systems, as well as those that only support magnetic
stripes. This is accomplished via technology known as
"Magnetic Secure Transmission" , which transmits card
data to a payment terminal's swipe slot using an
electromagnetic field, causing the terminal to register it
as if it were a normal magnetic stripe. LoopPay's
developers stated that because of this design, the
technology would work with "nearly 90%" of all point-of-
sale units in the United States.
SAMSUNG PAY……..

19. As the existing banking model is unbundled, everything
about our financial services experience will change. In five - ten
years, the industry will look fundamentally different. There will be
a host of new providers and innovative new services. Some banks
will take digital transformation seriously, others will buy their
way into the future by taking over challengers and some will lose
out. Some segments will be almost universally controlled by non-
banks; other segments will be better within the structural
advantages of a bank. Across the board, consumers will benefit as
players will compete on innovation and customer experience.
CONCLUSION