Vishal Ingale

Hi All Need to raise a point here with the RBI for clarification .Recently it's seen that many customers have raised chargeback complaints via the online portal RBI BO for transactions which are more than 360 days in case of MICRO ATM(AEPS) withdrawal they have done. Now the BO rule says they can raise till one year but the condition is after getting the revert from RE or if they did not get revert within 30 days from the date of complaint . They can't raise it on BO directly without raising it with RE first . But these complaints are raised by the BO to the Acquirer banks and the Acquirer banks forwards it saying they need customer declaration to reject the same or else it will be debited to the Corporate BC. How fair is this the compliance team just does a postman job to forward and put pressure as they are anyway at the upper hand to debit the amount , do they even understand how much days it will take to earn that amount the poor BC succumbs to the pressure and pays from his pocket denting his revenue which is already the lowest . There are clear guidelines from NPCI saying first 90 days for raising chargeback and then 60 days post 90 for good faith . So what this guideline means if this is what the BO RBI team escalates . This is a common issue to all the FI BC's can we have a clear guideline or the present one is misinterpreted due clarity issues and the pressure is on . Would like the authorities of NPCI /RBI followed with other fintech leaders to explain and guide on such practices .Specially from the Acquirer banks who just don't want to understand the guidelines . These impact the revenue and there is a leakage in the system which over time can erode revenues with the very low margins the Corporate BC's earn in this business. National Payments Corporation Of India (NPCI) Reserve Bank of India (RBI)

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RBI Proposes New Framework On Additional Factor Of Authentication For Digital Payments New AFA Methods: Reserve Bank of India (RBI) proposes new AFA options for digital transactions, including PINs, passwords, cards, and biometrics like fingerprints. Draft Framework: It aims to offer more authentication choices beyond SMS-based OTPs for digital payment security. Dynamic Authentication: RBI suggests one authentication factor should be dynamically generated post-transaction initiation, ensuring it’s unique and non-reusable. Exemptions: Exemptions include small-value contactless card payments, mutual fund subscriptions, insurance premiums, credit card bill payments, and offline transactions up to INR 500. Feedback and Compliance: Feedback is sought by September 15, 2024, with compliance required within three months. This comes as digital transactions and fraud rise, with online frauds up 334% YoY in FY24 Read More: https://lnkd.in/gU3BsxGH

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Struggling with digital payments in your SME? Easebuzz has the solution! Learn how they are simplifying operations and boosting growth. Read the full news at: https://lnkd.in/gQ_HZMrd #SecureITWorld #SME #DigitalTransformation #Easebuzz

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Our team at NiVa did a ground level survey with appx 800+ merchants across Pune , Delhi-NCR and Bangalore for various payment apps and in one of our insights about various payments apps we can see Paytm winning with huge margins across various metrics After reviewing the data , it's clear that Paytm is leading across all categories compared to other digital payment platforms like PhonePe, Cred, Google Pay, and Bharatpe. Fast Payments: Paytm has the highest bar with 85.7%, indicating it is the most preferred option for fast payments. Less Fraud: Paytm also tops the chart with 82.9% for being perceived as the most secure and fraud-resistant payment method. Service: In terms of customer service and support 88.6% , Paytm is ranked the highest by users. Less Fees: Paytm is considered the most affordable option with 48.6% with the lowest transaction fees. Multiple Payment Options: Paytm offers the widest range of payment choices with 88.6%, catering to diverse user preferences. The data unambiguously shows that Paytm outperforms its competitors across all the factors analyzed, including speed, security, service, affordability, and payment flexibility. It emerges as the dominant player in the digital payments space based on this comprehensive user preference study. This remarkable dominance holds valuable lessons for other players, including the up-and-coming NiVa platform. Firstly, prioritizing user experience is paramount – Paytm's seamless interface and rapid payment processing have struck a chord with consumers. Secondly, engendering trust through robust security measures and fraud prevention is non-negotiable in the fintech realm. Furthermore, Paytm's commitment to customer support and reasonable pricing has cultivated loyalty, underscoring the importance of putting users first. Lastly, offering a diverse range of payment options caters to varied preferences, expanding the user base. As NiVa aims to carve its niche, emulating Paytm's user-centric approach, technological prowess, and innovation in areas like security and payment diversity could be game-changers. In the fiercely competitive digital payments arena, learning from the industry leader may pave the way for NiVa's success. Vijay Shekhar Sharma Kudos to you and your team at PayTm !! #paytmkaro #fintech

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𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐅𝐢𝐧𝐭𝐞𝐜𝐡: 𝐋𝐀𝐓𝐀𝐌 𝐋𝐞𝐝𝐠𝐞𝐫 (𝟏𝟎 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬) 🫱🏽‍🫲🏽 LATAM’s fintech space is evolving rapidly, setting the stage for scalable, inclusive, and efficient payment models. ↳ Partnerships like Unlimit & Yuno and D24 & Yuno are simplifying the complexities of cross-border payments. By offering unified, multi-currency, and multi-method payment solutions, these partnerships are enabling businesses to scale across countries without the traditional friction. ↳ Deals such as Dock & Visa and Yuno & Nequi are bridging economic gaps and enhancing financial inclusion in underserved populations. These partnerships demonstrate how fintech can drive regional growth by addressing local needs with globally trusted solutions. ↳ Cross-border remittances are undergoing a revolution, with partnerships like Grey & dLocal and ACI Worldwide & Mexipay® bringing faster, cheaper, and more efficient transfers to emerging markets. The demand for real-time payments is growing—fintechs must prioritize speed, cost-efficiency, and security to capture market share in high-volume corridors. ______________ Want to uncover more insights to track the pulse of LATAM's payments revolution❓ Get exclusive insights and data-driven analysis on our website. Subscribe to our newsletter for weekly updates and unlock premium research with our membership plans here ➡️: https://lnkd.in/gH7D-Jjx via WhiteSight #fintech #payments #crossborderpayments #digitalpayments #ecommerce #LATAM

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The Reserve Bank of India (RBI) has granted final permission to PayGlocal, a #Pune-based supplier of cross-border #payment solutions, to function as an online payment aggregator. With this approval, PayGlocal can now formally start onboarding merchants, further establishing its standing as a major participant in the payments sector. PayGlocal is prepared to offer a wide range of payment options catered to diverse business needs, all under the #RBIapproval. The company wants to make sure that transactions are processed quickly, securely, and smoothly, giving customers a better overall payment experience. PayGlocal, which was founded in 2021 by Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande—three former senior directors of Visa—offers a full range of payment services and technology that is tailored to meet the changing needs of banks, partners, and merchants. Prominent backers such as CRED CEO Kunal Shah, Tiger Global Management, Peak XV Partners, QED Innovation Labs, and Pine Labs CEO Amrish Rau have contributed more than $17 million to the fintech company.

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Harshil Mathur, Co-Founder & CEO of Razorpay, addresses the payment gateway segment and answers questions on customer acquisition costs, the rise of omnichannel payments, and the rapid growth of premium merchant segments. He also discusses Razorpay's expansion plan to South Asia. In conversation with : Amol Dethe #IndianFintech #RazorpayExpansion #HarshilMathur #OmnichannelPayments #CustomerAcquisition #PremiumMerchants #ETBFSI #BFSI #FinTechDiary Watch the full episode at: https://lnkd.in/grwg9Tpy

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Offline payments set to contribute 20-30% of Razorpay's revenue: Harshil Mathur Razorpay's Harshil Mathur discusses their omnichannel payment evolution, future growth in offline payments, international expansion towards south east asia, and the potential of India's FinTech ecosystem. Story by Amol Dethe | Shrishti Sharma #OfflinePayments #RazorpayGrowth #OmnichannelPayments #FintechIndia #BFSTech #BFSI #ETBFSI #FintechExpansion https://lnkd.in/g6FWNH3e

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Amid RBI's tightening regulations, Payment Aggregators need a strategic pivot to maintain growth and security. Prioritizing strict oversight and security in these shifts is key to building trust and sustaining business momentum. As a Payment Aggregator, If you're seeking to enhance your monitoring capabilities and align with the new regulations, contact us! Our experts at BANKiQ are ready to assist you with tailored FRM and FRC solutions. https://lnkd.in/g7qANg5s  #BANKiQ #RBI #PaymentAggregators #PA #FRC #FRM #FraudRiskManagement #TimesofIndia #FraudRiskMonitoring

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🔸News Alert! RBI's Proposed Regulations for Payment Aggregators 🔸 Industry experts are buzzing with excitement over RBI's latest move! The draft guidelines for payment aggregators (PA) promise to revolutionize the digital payment landscape, ensuring trust and ethical practices. Here's why you should pay attention: ✅ Boost to PA Ecosystem: The proposed regulations are set to elevate the PA ecosystem, enhancing digital trust and fostering ethical practices. ✅ Level Playing Field: By setting standards and ensuring compliance, RBI's guidelines create a level playing field for all players, ultimately enhancing consumer protection. ✅ Inclusion of Physical Point of Sale (PoS): The updated definition of PAs now includes physical point-of-sale providers, bringing companies like Innoviti Payments, Pine Labs, and MSwipe under regulatory cover. ✅ Strengthened KYC and Due Diligence: With stricter KYC norms and due diligence measures, only eligible merchants can access digital payment services, further bolstering trust in the system. ✅ Fraud Prevention: The guidelines underscore the importance of fraud detection, emphasizing the purpose of KYC in preventing fraud and ensuring digital trust. Excited about the future of digital payments? Join the conversation and stay tuned for more updates! #RBI #DigitalPayments #PaymentAggregators #Regulations #Trust #Ethics

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🚨 Newsbreak🚨 Venture capital investors are betting on banks 💰 🏦 Lightspeed India and Sorin Investments are leading the $11.5 mn round in Shivalik Small Finance Bank This comes after Accel and Quona also invested in Shivalik, which has focused on Uttar Pradesh and Madhya Pradesh markets Shivalik got RBI approval in 2020 to convert from a cooperative bank to a small finance bank The Arc More 👇 #banking #finance #investment #smallfinance #lending #rbi #shivalik

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Digital payments app Bharat Interface for Money (BHIM) will soon be available on the government-backed Open Network For Digital Commerce (ONDC) in a bid to increase its shares in the Unified Payment Interface (UPI) transactions 👇 The app will foray into the ecommerce space on ONDC via a separate division. With this, the users of the payments app would be able to shop for food and beverages, groceries, fashion, and apparel on the platform. The users of the app would be able to shop for food and beverages, groceries, and fashion on the platform, which is expected to boost BHIM’s UPI transactions. Launched in 2016 by the National Payments Corporation Of India (NPCI), BHIM is far behind in terms of UPI transactions compared to rivals like Google Pay, PhonePe and Paytm. To read more in detail, click here: https://lnkd.in/gZCitHtz #NCPI #BHIM #digitalpayments

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Fintech startup 50Fin is again making waves in the financial industry with its latest funding round! Arali Ventures and Nitin Gupta have led a $550,000 investment in the company, marking another milestone in its journey towards revolutionizing lending solutions. In a pre-seed funding round last year, 50Fin secured Rs 4.25 crore ($500K), co-led by 100X.VC, Keynote Capital LLC, and Arun Venkatachalam. Since its founding in 2022, 50Fin has been on a rapid growth trajectory. Co-founders Aditya Srinivas Prasad and Darpan Tanna have built a platform that offers instant loans against mutual funds and shares, simplifying the borrowing process for customers. This new influx of funds will fuel 50Fin's expansion plans and drive technological advancements, with a focus on scaling its infrastructure offerings to NBFCs. With strategic partnerships with industry giants like Fi Money and Bajaj Capital Ltd, 50Fin is poised for even greater success in fintech. Stay tuned for more updates on 50Fin's journey as it continues to reshape the financial industry! Read More: https://lnkd.in/grfFrrtU #Fintech #StartupNews #Investment #TechInnovation

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