Demonetization

ItzCash enables Bharat QR on its PoS terminals

ItzCash enables Bharat QR on its PoS terminals ItzCash, a leading fin-tech company, has rolled out ‘Bharat QR code’ feature across its retail network. With this, users can scan and pay money with ItzCash’s ‘Point-of-Sale (PoS)’ devices by simply flashing their cell phones. “This means that customers have multiple options to make payment through this device – … Continued

Carbon Credit – like system can curb cash usage

Carbon credit-like system can curb cash usage Cash is an expensive cost to India’s economy. A recent report concluded that India spends about Rs 21,000 crore annually in currency operation costs. This includes printing, storing and transporting the cash, as well as the expenses incurred by banks in setting up and maintaining ATMs. Then there … Continued

Digital payment firms happy with Centre’s push

Digital payment firms happy with Centres push The digital push by government through incentives and demonetization has come as a booster to the financial technology companies or digital payment companies and they are expected to pass on the benefits to the consumers. Naveen Surya, chairman, Payment Council of India and managing director, ItzCash told this … Continued

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Mr. Naveen Surya’s interaction with Economic Times

The Economic Times , November 23, 2016 There has been a sudden demand for e-payment forums: Naveen Surya, Payments Council of India  ET Now: Different digital players we have spoken to have said that their traction has increased, but have you seen any kind of disruptions in payment or completion of transactions or otherwise? Naveen … Continued

Smart Money

The Economic Times (Page No. 22), November 25, 2016 Smart Money In the two weeks since the government announced its demonetization initiative, India’s internet commerce industry has scrambled to adjust. Internet entrepreneurs have applauded the move, ostensibly for its long-term payoffs, although online marketplaces and logistics startups have been hit hard because of the cash … Continued

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Digital Payments Gain On India’s Currency Demonetization

Investopedia.com, November 15, 2016 As almost 86% of India’s currency circulation turned into worthless paper after November 8, 2016, mobile wallets and fintech companies providing alternative payment avenues saw a big boost. People turned to digital payments after initial confusion followed by serpentine queues outside banks and empty ATMs. That’s a big deal for a country that paid cash … Continued

Demonetization triggers spurt in digital payments

CIO.in, Mumbai, November 11, 2016 Demonetization triggers spurt in digital payments; drives India towards cashless economy.  The demonetization move that initially paralyzed the economy is now catalyzing the country’s digital payments ecosystem. We’re are witnessing an economic transition right now. The quintessential digitally-spooked `Aam aadmi’ is keeping aside his wad of cash and signing up for e-payments and mobile … Continued