Madhur Jain

The Worldline India Digital Payments Report 1H 2024 is out. Working on this report always enlightens me on the depth of the digital payments journey that India is on and will be. Did the number of #POS terminals hit a new record? Which payment modes saw the highest growth? What are the developments in the #payments landscape to look forward to? Snack on key data points and industry insights in the latest #Worldline India Digital Payments Report: https://bit.ly/4dGegGX #WorldlineIndia #CreditCards #UPI #IndiaDigitalPaymentsReport

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Temenos Launches the FIRST Responsible Generative AI Solutions for Core Banking! 🧠 🌟 These secure solutions effortlessly integrate with Temenos Core AND Financial Crime Mitigation (FCM) 📊 Using Temenos Generative AI, customers can engage in natural language queries to generate insights and reports, massively REDUCING the time it takes for business stakeholders to unlock the power of CRUCIAL data 👩‍💻 Prema Varadhan, President Product and COO, Temenos, commented: “We all use AI in our daily lives and benefit from the personalized services and insight. Temenos Explainable AI offers transparent, auditable insights while our Generative AI infused platform delivers these insights instantly in an intelligent and personalized way. Temenos ensures responsible AI practices by providing explainability, security, safe deployment, and banking-specific capabilities. With our AI platform, banks can rapidly implement real-world use cases that enhance efficiency, boost profitability, and create hyper-personalized customer experiences.” Find out more on the link below! 👇 https://lnkd.in/eTX222ny Bola Rotibi #banking #generativeai #bankingsolutions #artificialintelligence

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The payment gateway sector in India has experienced remarkable growth. In 2022, the market size for Indian payment gateways soared to an impressive $1,459.7 million. Looking ahead, the trajectory indicates even more substantial expansion, with projections estimating a market value of $2,897.6 million by 2028 with a Compound Annual Growth Rate (CAGR) of 11.6% during the period spanning from 2023 to 2028 A payment gateway acts as a secure online technology linking your customers' electronic payment methods to your bank, guaranteeing seamless and protected transactions. By ensuring secure digital transactions, prompt payments, and minimizing cash-on-delivery expenses for merchants, payment gateways play a vital role in facilitating smooth financial transactions. Payment gateways are four different types: ☑ Hosted Payment Gateway ☑ API-hosted Payment Gateway ☑ Self hosted Payment Gateway ☑ Local bank integration Payment Gateway Some of the major payment gateway providers in India are: PayU, PayTm, Razorpay, Mobikwik, Infibeam Avenues, CC Avenue, Billdesk, Instamojo Source ETBFSI BillDesk Razorpay MobiKwik PayU Paytm Infibeam Avenues Limited CC Avenue Instamojo

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Open banking requires collaboration among financial providers, strict security and a governance framework that connects all stakeholders. In this P20 report, Parijat Sinha, Head of Product for Open Banking at FIS®, shares how to unlock seamless, stable and secure integration and collaboration, by linking people, platforms and partners through financial data, processes and compliance measures. http://spr.ly/6046QPXsp

🌐 Understanding ‘Netting Off’ in Lending: A Double-Edged Sword? In the microfinance industry, there’s a common practice that often goes unnoticed yet has significant implications—netting off. Here’s how it works: Instead of waiting for a borrower to fully repay an existing loan, lenders may issue a new loan to cover outstanding dues. This “nets off” the previous loan, creating an impression of a clean repayment. It keeps accounts in good standing and avoids classifying loans in high-risk categories, like SMA-2 (overdue by 61–90 days). 📊 ✅ Pro: Borrowers receive quick refinancing without immediate pressure to clear past dues. ⚠️ Con: This practice can mask the true financial strain on borrowers and delay acknowledgment of potential defaults. The RBI has flagged concerns, emphasizing that constant rollovers may distort the actual state of borrower health, especially as defaults might remain hidden under this practice. Is it time for more transparency in loan classifications? How can we better balance lending flexibility with financial clarity? #Microfinance #Lending #NettingOff #FinancialTransparency #RiskManagement #BankingInnovation #RBI

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I am seeing a new trend in market of A2A payment being renamed to - pay by bank. It’s really cool and makes a bigger impact and connect to audience of all types!! There is no way stopping of A2A payments as most imp use case of open banking no matter what name sells in market.

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Great to see such advancements in #GenAI by Temenos and why not - #FinTechAI is moving so fast but needs to be smart and integrate with FCM. Nice insight from Prema Varadhan 👏👏 #fintech #bankingtechnology

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Beware the enticing headline. It can take you down a rabbit hole. I have heard on the grapevine that 'fraud is booming' since UPI was brought in to enable account-to-account and online payments in India. Now I read that 'Online Payment Frauds Jump Over 400% in India, RBI Data Shows'. Worrying news, for sure. But when you look at the quantum, online fraud is still very low per head of population in India compared to the UK. Here, total payments-related fraud (online and other, covering both scheme and bank rail payments) is about £1.2bn per year, of which online fraud is £250m for payments on card rails and £150m for payments on bank rails (APP) based on my understanding of the recent annual fraud report from UK Finance. This is an average of £5.60 per person. It looks like India is catching up, with $175m (£138m) of fraud from online payments alone, a 400% growth rate. But India has a population of 1.2bn or so. So this represents only 11.5p per head of population. So should India be worried about having online fraud levels at 2% of the levels in the UK? It hardly seems to be a damming indictment of UPI. Or maybe I am missing something, and have disappeared down another rabbit hole altogether. Comments welcome. Yash Khanna Sriram Chatty Jane Jee Jana Mackintosh Paul Horlock Akhil Rao Neil Harris Mitch (Munish) Trehan Tom Brewin Riccardo Tordera-Ricchi Bloomberg Robert Courtneidge https://lnkd.in/gzqGF7rZ

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“AI is not a silver bullet, and leveraging this capability comes from deep understanding of the business problems and infusing these tools and techniques in the right place within the infrastructure and ecosystem,” shares Adam Gable, senior product director at Temenos . Read this article from The Banker for more insights on #AI and regulation, security, and progress in #payments: https://lnkd.in/e24zp_vS

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Temenos has announced the launch of its Responsible Generative AI solutions as part of its AI banking platform. The company launched its first generative AI tool in September last year, for automatically classifying customer banking transactions. This new wave integrates with Temenos Core and Financial Crime Mitigation (FCM). The solutions can be applied in customer and middle office operations or product development. Users can engage with natural language models to generate insights and reports. Temenos states this will enable banks to create products in real-time based on customers preferences. Temenos claims this generative AI is explainable and that this new solution can be verified by users and regulators. The company will initially release this product for Temenos Wealth and Temenos Digital. Prema Varadhan, president product and COO, Temenos, commented: “We all use AI in our daily lives and benefit from the personalised services and insight. Temenos Explainable AI offers transparent, auditable insights while our Generative AI infused platform delivers these insights instantly in an intelligent and personalised way. Temenos ensures responsible AI practices by providing explainability, security, safe deployment, and banking-specific capabilities. With our AI platform, banks can rapidly implement real-world use cases that enhance efficiency, boost profitability, and create hyper-personalised customer experiences.” Bola Rotibi, chief analyst, CCS Insight, said: “GenAI heralds a new era of efficiency and competitiveness in banking, with the potential to revolutionise customer experiences, streamline processes, and uncover actionable insights. Banks are naturally cautious in embracing generative AI to the full and want to ensure they do so responsibly. A proven track-record in delivering responsible AI will be vital for financial institutions to confidently experiment and deploy generative AI models for critical business functions across the enterprise.” https://lnkd.in/dKb6QMx3

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Credit card payments need to go through a single digital framework called Bharat Bill Payment System (#BBPS). What’s this BBPS about ? Why is there a regulatory nudge by Reserve Bank of India (RBI) to move the #payments sector towards a centralised system ? What’s in it for the consumers ? Is there a fear that such an #openbanking move could increase #competition ? What’s behind the stand-off and why won’t the RBI budge? My oped in The CapTable https://lnkd.in/dcKBVzrp (Behind a paywall)

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Open banking requires collaboration among financial providers, strict security and a governance framework that connects all stakeholders. In this P20 report, Parijat Sinha, Head of Product for Open Banking at FIS®, shares how to unlock seamless, stable and secure integration and collaboration, by linking people, platforms and partners through financial data, processes and compliance measures. http://spr.ly/6045QRYRc

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As the July 1st deadline draws close for credit card bill payment through BBPS- Banks are not too perturbed as ~70% of credit card bill payments are made through interbank transfers and autodebit instructions. In fact only 8 out of 34 credit card issuers are enabled on BBPS. HDFC Bank, ICICI Bank, and Axis Bank which are among the largest issuers are yet to integrate. While an extension of the deadline has been requested by third party players like Phonepe who are already on BBPS- the RBI is yet to respond on the same. In the meanwhile if you are in the 70% who use interbank like me you can rest easy :-) . For the rest, you might need to figure out alternate methods for credit card billpayment after July 1st. https://lnkd.in/dR4fR-gx #payments #regulatory #fintech

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RBI sets up panel to build a digital public infrastructure to tackle online payment frauds; under the able leadership of AP Hota. Pertinent matter under the leadership of an industry stalwart, I am sure it will shows the way to the industry globally..

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Financial inclusion is a critical enabler of economic development, ensuring that all individuals and businesses, regardless of their financial status, have access to essential financial services. In India, financial exclusion has long been a significant barrier to economic progress, particularly in rural areas. However, digital payment systems are now playing a pivotal role in addressing this issue, bringing millions of unbanked and underbanked individuals into the formal financial system. https://lnkd.in/g-h8h3ss

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Interesting insights of AI-led credit assessment!! Thanks ETBFSI , Vikas Kumar !!

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5 Big Ideas that I see further transforming the Indian Payments sector in 2025: 🧩 More Inclusive Digital Payments A whopping 350 million Indians today are using digital payments in their everyday lives - this number is larger than the entire population of the United States! While this is a marvellous feat, have you realised that there are another 600 million banked Indians, who are still not using digital payment systems? 2025 will see a greater focus on this section of the population, making digital payments even more accessible and affordable for the underserved (people with feature phones, the differently-abled, the small businesses, the senior citizens etc). 💸 Inclusion of other Form Factors IoT-based form-factors will see a massive push in digital payments. 2025 will see improved payment processing systems via wearables and even other IoT-based devices like cars and refrigerators! I look forward to innovations in the biometric payments space, that will reimagine payments to make it as simple as blinking your eye. 🚫 Reduced Payment Frauds This year we have unfortunately seen financial scams getting more ‘creative’, with fraudsters using tech to trick unsuspecting individuals and wiping their bank accounts clean. Our entire industry has not just taken note of this, but have also started implementing counter-measures. In 2025, we will see more targeted use of AI and ML for better real-time transaction monitoring, implementation of more robust security measures for UPI and cross-border transactions, and focus on better education to promote consumer awareness. 🌐 Seamless Forex Payments Forex payments continue to remain a pain point for many Indians. Come 2025, we will bring the forex payments experience closer to that of domestic payments, with Revolut’s transparent charges and real-time tracking. The sector will also see improved government-fintech partnerships to smoothen the flow of money between nations, along with implementing strong controls, and expanding UPI presence across geographies. ↔️ Regulatory Frameworks Beyond Borders A clear and enabling regulatory framework is essential for the growth of India's payment ecosystem. In 2025 we can look forward to regulators collaborating beyond geographies, to facilitate smoother access to global markets. This can open up new channels, where reciprocal arrangements overseas could enable Indian companies to seamlessly transact worldwide. What are your thoughts on the future of India's payment ecosystem?

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HUGE news! 🤯 Temenos has partnered with Visa to integrate Visa Direct into the Temenos Exchange 👏 💸 🌐 By integrating Visa Direct with Temenos Payments Hub, Temenos customers will have the ability to SEAMLESSLY incorporate Visa Direct’s payment capabilities and consolidate them with other payment services on the SINGLE Temenos platform. 🏦 🚀 This integration will efficiently connect MULTIPLE payment sources and channels with various clearing and distribution networks and services; and by leveraging Visa Direct, banks can facilitate a WIDE array of use cases for cross-border payments: from P2P payments, funds disbursements, bill payments to final beneficiaries. 👨‍💻 Mick Fennell, Business Line Director – Payments, Temenos, commented: “Temenos is proud to welcome Visa to Temenos Exchange to enable the rapid deployment of Visa Direct services for banks that run on the Temenos platform. By combining Visa Direct’s capabilities with our flexible Payments Hub and integrated account services, we are empowering banks to turn on a new distribution option with ease and provide their customers with seamless and secure international payment experiences.” Read more on the link below! 👇 Edward Chandler #visa #temenos #visadirect #digitalpayments #temenosexchange #crossborderpayments #internationalpayments #electronicpayments #cloudbanking #api

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