Author: Bfsinxt Desk
A study by Capgemini Research Institute titled as ‘World Payments Report 22’, finds that new payment methods are expected to increase from around 17 percent of total non-cash transaction in 2021 to around 24 percent by 2026. While B2C payments have flourished, the B2B value chain has too often been neglected. It added, “The payments industry has remained resilient through recent unprecedented market volatility, accelerated by the adoption of innovative new digital payment methods for consumers. However, many banks are failing to provide the same support for small to medium businesses.” According to the report, despite promising post-pandemic recovery levels,…
U GRO Capital recently announced it has raised USD 5 million through an ECB (external commercial borrowings) transaction with the EMF Microfinance Fund AgmvK (EMF).
The regulator in a statement said, “To promote efficiency in the conduct of insurance business and provide for appropriate framework for electronic mode of solicitation and servicing of insurance policies, the current regulations on issuance of e-Insurance policies have been reviewed.”
The wider reach of the Bank will help both Union Bank of India and Hyundai to extend the best offering to the buyers of Hyundai Equipment across the country and to increase the Bank’s portfolio under Equipment Finance
Simpl on September 27 announced a tie-up with CCAvenue for a seamless checkout experience for enabling frictionless checkout and pay later facility on CCAvenue’s payment stacks. Simpl-CCAvenue partnership increases seamless transactions and unbundles merchant discovery for millions of customers on the platform, it added. “Merchants love Simpl because we allow unbundling of product discovery. Product discovery takes on new significance as Indian consumers throng e-commerce sites seeking speed and convenience at checkout. Seamless checkout elevates customer’s shopping experience while significantly reducing cart abandonments, decreasing dependence on cash on delivery and removing inefficiencies for retailers,” Nitya Sharma, CEO & Co-Founder, Simpl, said…
Leading brokerage firm, ICICIdirect has introduced Flash Trade for F&O traders, The firm said keeping the interest of traders and trading community in mind, it has launched a unique proposition in the form of Flash Trade, a risk contained and visually rich Futures & Options (F&O) trading module. ‘Flash Trade’, is one of its kind tool offering a safer ecosystem for trading options that helps traders visualize their entire trade on charts in a simplified manner, and allows them to trade in a single click with its ‘Up’ and ‘Down’ action buttons. Traders can set time-based exit rules so that…
A. Manimekhalai, MD & CEO, Union Bank of India, said, “Union Bank is adopting Digital Products in a big way. Various new initiatives are taken by the Bank to increase Digital Footprints. The IT assets are increasingly exposed to the Internet. In this backdrop, our Bank has established the Ethical Hacking Lab to strengthen the cyber ecosystem. This is an important milestone as we take our cyber security journey ahead to secure digital banking experience.”
Asset management veteran Lakshmi Iyer will take charge as CEO, Investment Advisory business at Kotak Investment Advisors Limited (KIAL). At Kotak Mahindra Asset Management Co. Ltd (KMAMC), Deepak Agarwal will now lead the Fixed Income Investment Team as Chief Investment Officer, Fixed Income, while Abhishek Bisen has been elevated to Head, Fixed Income.
In this intended collaboration, both companies NPCI & TerraPay will work together to further empower Indian customers with active UPI Ids (350 million bank accounts) to be able to transact at QR locations enabled by TerraPay, globally.
Rakesh Jha, Executive Director, ICICI Bank said, “We are delighted to announce the launch of ‘Festive Bonanza’ for our customers which will include a plethora of offers, discounts and cashbacks on purchases and spends. We have collaborated with leading brands and e-commerce platforms across a wide range of products and services.”