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Secured transactions are a priority for everyone, especially when they involve high-value cheques. Earlier when you went to the bank to deposit a cheque they would initiate the banking process. But now, when you offer a high-value cheque the banks would first ask you to share the details of the cheque and then process it.…

When it comes to sending and receiving money, you may use different payment methods that conduct the transaction processes from one bank account to another. But, did you know there is a new type of bank which just deals with payment transactions? Yes, you heard it right! This new type of financial institution is called…

To make online payment processing seamless, businesses often collaborate with third-party providers. These providers also manage the entire payment ecosystem of businesses. One such provider is known as a payment aggregator. Payment aggregators are meant to optimise the payment process helping businesses to work with complex electronic transactions in a unified setup. Including online money…

Net banking or online banking is a widely accepted form of payment, but do you know how online banking is managed? It is the ACH that manages net banking. ACH full form is Automated Clearing House. As the name suggests, it is a house that automatically or directly clears electronic payments. Well, it is not…

Businesses often engage in corporate exchange transactions or barter payments. These transactions are somewhat complex compared to bank account transactions. But with new-age technologies coming by corporate barter payments have been simplified. Corporate Trade Payment or CTP is a financial tool that has revolutionised corporate barter transactions. In a corporate transaction, instead of cash goods…

We are all well-accustomed to the term cashless payments. It has made everyone’s lives easy. Among various online payment options, UPI is a widely used technique. UPI or Unified Payment Interface is trending among people for bill payments, money transfers and merchant payments. The best thing about this method is that it doesn’t include any…

The world of payments has undergone a sea change and has evolved with time. Contactless payment solutions are among the most revolutionary innovations. With these technologies, payments can be completed quickly and easily by tapping or waving a card or mobile device near a payment terminal. However, as with every technical development, security concerns inevitably…

What is a Digital Payment System?  The swift progress of technology has drastically changed the worldwide payment landscape, and India is no exception. Digital payments are those that are carried out digitally without requiring hard currency. Numerous payment options are available in these transactions, including credit/debit cards, mobile wallets, online banking, and the Unified Payments…

Explore India’s diverse contactless payment solutions like NFC, contactless cards, mobile wallets, and UPI, highlighting their advantages over traditional methods.