A credit card is a plastic card which a bank provides you with a credit limit that you can use for different payments both online and offline. The bank, after the stipulated time as per the agreement, sends you a bill for the limit used which you can make a full payment without any interest or transfer it to EMI with added interest as per terms of the agreement. Nowadays everyone is having a credit card so the question arises…
Fintech companies are uniquely qualified to drive financial inclusion through payments, which act as a gateway to various services such as savings, credit, and insurance. Payments services can be called transaction accounts which are operated by regulators. This can be used by regulators to enable users to meets financial obligations through payments and store the rest. Fintech can improve the design of payments and accounts by making them accessible, enhance the user experience, and provide assistance. As Fintech companies move…
With everything around us gradually becoming virtual or network-based, our belief in using virtual cards has evolved. The modern digitized world calls for up-gradation to the latest and up-to-date alternatives from our otherwise traditional modes of payments and financial transactions. Though the conventional cash payment still holds true, the rising popularity of cashless transactions has changed how we deal with buying goods and services. What is Virtual Credit Card? It is simply a credit card, available online instead of a…
With time our payment methods which were once used only to be in cash have now changed drastically with the onset of the twenty-first century into the cashless method. India has also adopted the cashless economy especially following the demonetization specifically due to two reasons, one being to stop black money from layering in the system and secondly for safety, as having a lot of physical cash is not safe in all parts of the country. It carries the risk…
Contactless payment refers to the payment of an amount to a terminal by using a debit or credit card without any swiping or entering a PIN in the terminus, hence the term “contactless”. We all know the traditional method of payment of money in a terminus by swiping our card, followed by entering our secret PIN which is always a hassle with payment declination for various reasons like forgetting the PIN and is also a time-consuming process amidst our busy,…
Standing at the dawn of the twenty-first century Artificial Intelligence commonly quoted as “AI” has become the most powerful tool for all industries by increasing their efficiency so as they can provide mass service to everyone with the minimum possible turnaround time. In our current times with our global family comprising of 7.8 billion people, it has become a challenge for companies from all industries to provide their services to everyone whether operating on a global or regional scale. One…