"We plan to open another 50,000 exclusive outlets in rural areas by next year under the brand name 'ItzCash Point'and 'ItzCash World', besides opening franchisee network up to 12,000," ItzCash Vice-President, Marketing, Shekher Srivastava told PTI on Tuesday.
Soon, one will be able to pay utility bills at the local supermarket, while buying groceries, with the RBI allowing the setting up of payment banks.
Open loop pre-paid cards come with a two-factor authentication. One for ATMs and PoS transactions, and the other for online transactions
Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
Digital transaction players are hurriedly drawing up a memorandum to be taken to the central bank in hope of having a few of the guidelines -- such as full Know Your Customer (KYC) compliance in 12 months -- overturned, reports Karan Choudhury
New government should consider reforming taxation rules.
The government is also considering mandating payments beyond a prescribed threshold only in card/digital mode.
While the acceptance of cards, mobile wallets and banking apps is increasing, only 10 per cent of transactions take place through them.
Unified Payments Interface launched to simplify mobile banking.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
From small retailers' experiences with e-wallets to digital transaction numbers post demonetisation, Geetanjali Krishna and Karan Choudhury find out where the truth lies.
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