Digipay Guru

  Competition forces businesses to adapt to new technology to meet the needs of their customers in today’s rapidly evolving culture. One innovation is that digital wallets have appeared to affect the process of buying and paying on the Internet. These solutions are valuable to both customers and businesses as they provide fast, secure, and easy payment methods.  Now, let’s take a brief look at how digital wallets are woven into modern online payments and learn how the given solutions can be beneficial to implement. What are Digital Wallets? A digital wallet is an electronic form of wallet that enables making fund transfers without the need to top up the funds. It stores payment information so that your customers can quickly complete transactions without having to enter credit card information or their particulars manually. This ease greatly reduces checkout friction, as described, thus enhancing consumer delight. Digital wallets can be used for saving credit and debit card inf...

  In today’s digital era, people demand the freedom to purchase anything from anywhere without having to carry cash in their pockets. With the emergence of smartphones, faster internet connection, and mobile banking, technology is evolving towards making payment methods digital. People are gradually moving away from traditional forms of payment and turning to more advanced methods like credit cards, net banking, and e-wallets. Digital Transformation is driving innovation in the e-wallet market by providing users with innovative and creative financial management applications. Entering the wallet industry is a sensible move as it is the  future of digital banking  and proving to be a boon for users at both ends — customers and merchants. Since a digital wallet keeps track of each transaction and gives a wide range of discounts and cashback, it is one of the best forms of payment method. If you are thinking of launching a digital wallet app, you will need to put in a lot of ...

Technological advancement and the availability of the Internet of Things have brought a revolution in the banking and finance sectors. As one-third of the world’s population is connected to the Internet with more than 700 million mobile connections, it is the ideal option to invest in mobile money. Mobile money has been touted as the revolutionary tool for expanding financial services in low-resource countries like Egypt and Bahrain. With just a mobile phone, the users can quickly transfer money with a click and without needing any access to an existing bank account. As of January 2022, two-thirds of the global mobile money business model were driven by users in the regions, with a value of 25 billion dollars. READ MORE  :  Spotlighting opportunities and challenges of doing mobile money business in Middle East

  FinTech is no longer a jargon of the banking industry. Instead, it has become a familiar term in technology in general. The Global investments in FinTech ventures has doubled to a whopping $112 billion as compared to $51 billion last year. This is more than an evidence to prove that the digital revolution is at the doorsteps of financial services sector. This revolution is having a huge impact on all the banks and financial institutions globally. But what actually FinTech is? Let’s see. What is FinTech? The term FinTech is derived by joining two words which are financial services and digital technology. In a nutshell, FinTech simply prompts the use of digital technology by startups to come up with innovative products and services such as  mobile payments , alternative finance, online banking, big data, and overall financial management. FinTech was introduced as a technology that was used at the back-end systems of financial institutions and banks. However, since then its def...

The popularity of digital payments and the convergence of innovative technologies play a significant role in digital wallet development. Mobile phone is a major driver of this fundamental shift in customer experience. Your customer has switched their behavior from swapping payment cards to tapping on their smartphones. All the businesses are embracing the change in customer behavior.  Contactless payments solutions  and convenient payment mechanisms provide you an opportunity to address the needs of your consumers. Here is a chance you can eradicate the need to carry cash, queue in shops for paying bills, remember the number of PINs and passwords. Your digital wallet payment solution can be integrated with some unique features which we are going to discuss in this blog to make the checkout process quick and seamless. In the era of mobile payment services, your consumers are expecting the smarter and quicker way to pay and hence giving you an opportunity to capitalize on creati...

Reserve bank of India (RBI), India’s central bank and regulatory body, has made a remarkable move for the Fintech industry in India. RBI has issued a new framework UPI123Pay that enables users for offline digital payments for featured phones. This move will significantly boost the digital payment methods and people will be more aware of various modes of digital payments. So what are you waiting for! Let’s quickly peek into the details of guidelines and see how this move can help you in your business to prospect more. Reserve bank of India issued a ‘Statement on Developmental and Regulatory Policies’ with three pilots in three different regions of India to test with small value-based transactions.  With the proven results, the RBI has concluded it fit to issue and introduce the solution and framework for the public interest. READ MORE :  Make Payment without Internet & Smartphone

  About Coincidently, our client has the same name as ours. The only similarity that he lacks in the name is “.guru”. Our client “DigiPay” is a leading e-wallet service provider in African Ivory Coast backed by Digital Afrique Telecom (DAT). DAT has launched a subdomain “DigiPay” intending to provide a transaction processing platform for the people of Ivory Coast to easily send-receive money and boost cashless payments in the country. DigiPay is a payment and money transfer service provider approved by the Central Bank of West African States (BCEAO). Moreover, along with allowing to send-receive, deposit-withdraw funds, our client connects its customers to various users communities and offers a comprehensive suite of smart, simple, and secure solutions for your financing and budget management needs at a lower cost. The application is more than what other e-wallet applications are available in the market. It has unique features, an extra layer of security to protect its customers, a...

Traditionally, banks and their branches spread across the globe have catered to all our financial requirements like loans, issue of credit cards, debit cards, opening or closing of banking accounts, insurance etc.      However, FinTech companies have emerged with fuss-free next-generation financial solutions by introducing neo-bank software. FinTech companies offer a wide range of  contactless payment solutions  by using money management apps and online payment software for their customers. In 2021, the global neo-banking market size was valued at 47.39 billion according to  grand view research  data. Neo-Bank Solution will continue to grow rapidly at an annual CAGR of 53.4% from 2022 to 2030. READ MORE :  Things Traditional Banks can learn from Neo Banks and FinTech Companies

  For many families that live in the developing countries, the money sent by their migrant relatives is nothing less than a lifeline. One in every nine people globally sustains on these funds sent by the migrant workers. On a larger scale, international remittance has become a prime contributor in the GDP of many Low and Middle Income Countries (LMICs). Only in 2018, more than  200 million migrant workers sent over $689 billion  to their respective countries. Out of the total amount, $529 billion went to developing countries. The amount sent by the migrants constitutes only 15% of their total earnings. However, the interesting point to note is that the small proportion of migrant’s earnings makes up to almost 60% of his family’s household income. READ MORE  : How did FinTech transformed international remittance?

  FinTech is no longer a jargon of the banking industry. Instead, it has become a familiar term in technology in general. The Global investments in FinTech ventures has doubled to a whopping $112 billion as compared to $51 billion last year. This is more than an evidence to prove that the digital revolution is at the doorsteps of financial services sector. This revolution is having a huge impact on all the banks and financial institutions globally. But what actually FinTech is? Let’s see. What is FinTech? The term FinTech is derived by joining two words which are financial services and digital technology. In a nutshell, FinTech simply prompts the use of digital technology by startups to come up with innovative products and services such as  mobile payments , alternative finance, online banking, big data, and overall financial management. FinTech was introduced as a technology that was used at the back-end systems of financial institutions and banks. However, since then its def...

  According to the   Financial Times , 2018 was the year of the ‘silent revolution’ in the field of Open Banking Services. This pushed large banks to allow their clients to share their transaction data with other parties under new guidelines. Such measures will drive a wave of open data, putting   $416 billion   of revenue at stake. Open Banking is not simply another business phrase, and if you don’t want to fall behind, you need to start learning about it today. Here is an introductory piece to help you hop on the journey of creating Open Banking solutions by explaining the new paradigm and its effect on the banking sector. If you look at the  digital payment trends  the worldwide open banking industry will grow at a compound annual growth rate (CAGR) of 28.4%. The open banking sector rose from $11.79 billion in 2020 to  $15.13 billion in 2021 . The reversal in growth trajectory is mostly due to enterprises stabilizing their output following the epide...

  Digitization is starting to pick up and gather pace among all sectors, promoting no-contact transactions, which raises the demand for digital banking services. As all small and large businesses and e-commerce businesses are keen to accept digital payments, digital banking has gained popularity among consumers. Digital wallets solutions  are the most widely used solutions in this pandemic era. In this “cashless” era age, individuals prefer to shop online for all their day-to-day needs and look for options that are not only convenient but also provide security and robustness. Digital wallets are one of the proven pillars that come into this role. Digital wallets are apps that are directly linked with customers’ accounts and provide all the ease to transact like receiving or making payments from their smartphones or laptops. In this blog, we’re here to understand digitalization in the banking sector, how digital wallets play a vital role in e-payment methods and explore its sig...

Even as the world coped with putting 2020 behind, the second wave of the pandemic and the Omicron scare have concluded 2021. However, 2021 has been the most incredible year to remember for the Indian Tech Industry and the start-up ecosystem. From banks limiting their branch access and hours to the fear of contaminating currency and coins, digital wallets fast-tracked the changing relations between the banks and the consumers. DigiPay.Guru played a prominent role by integrating  contactless payment solutions – to banks, entrepreneurs and end-users. We have unlocked many new enhancements with innovative features while facilitating the users to perform financial transactions in a few taps. READ MORE : DigiPay.Guru – A year to remember 2021

AfterPay, Klarna, Affirm, and more are garnering a lot of press value in recent times as consumers show aversion towards debt accumulation. Let the number talk about the in-focus buzz of the Buy Now Pay Later app in and around the   FinTech solutions . The above-mentioned data has been sourced from  Cornerstone Advisors . As per the data, the number of Gen Z populace in the U.S. leveraging Buy Now Pay Later has increased by as much as six times to nearly 36% in 2021 from 6% in 2019. Besides this, millennials are the target audience of the Buy Now Pay Later model at least twice from 2019. It has reached nearly 41% in 2021 in the U.S. Not only does the Buy Now Pay Later model become popular as an integrated solution but also as an  e-wallet solution . It has joined the league of the mainstream  mobile banking solutions  and is now about to reign the digital payment vicinity. READ MORE :  Buy Now Pay Later: The Model Changing the Way Credit Works

DigiPay.guru is glad to announce the latest product update as a versatile virtual prepaid card as a part of extending this tradition. Now, DigiPay.guru’s clients can pay seamlessly in a fast, secure and simple manner. But before we get into the details of the latest product update, let’s understand the meaning of a virtual prepaid card first. A brief overview of virtual prepaid card As the name suggests, virtual prepaid card is a contemporary one-time debit card that has no physical existence. You can use it to carry out online transactions only. So basically, a virtual prepaid card comprises a unique 16-digit card number, CVV and valid date that has been exclusively created for remote purchases. Apart from this, you can create a unique virtual prepaid card for every user or the user can create multiple virtual prepaid cards. You can set an expiration date or restrict the usage of virtual prepaid cards to particular suppliers or merchants. After getting an insight into virtual prepaid ...

  The COVID-19 pandemic has created unforeseen challenges for the global economy. The sharp decline in global business, liquidity issues, difficulties in accessing credit, disrupted income streams, bad debts, and lack of access to finance. Consumers without access to basic banking services have been the most affected. In the purview of future contingencies such as the COVID-19, banks and payment companies have  adopted an omnichannel strategy , which is agnostic and can serve the clients. This is where branchless banking offers innovative distribution while seamlessly speeding up reach. But to go branchless, traditional banks have to adopt a  branchless banking solution  to provide best in class services to their customers. And if you are a bank, then adoption of a branchless banking business model is the best choice for you. In this blog, we will provide you with a brief introduction of branchless banking. Also, we will show the challenges of the traditional banking...

Even though the world is transforming digitally, there are still areas that are untapped and untouched. Some of the developing countries are still at the   growth stage   of modern reforms such as Fintech, mobile money, etc. According to UBS , almost 1 billion people in these emerging economies don’t have a formal bank account, neither access to financial services. Here, we have a huge market for financial inclusion, services, and businesses. In the Sub-Saharan African region, there is a high volume of unbanked population. Over 90% of the financial transactions are done cash-based. Currently, super apps like OPay and Jumia Pay rule these markets in financial as well as  mobile money solutions  but these and many other services such as Airtel Money, MTN, etc took years of effort to get over the challenges and issues that have led them where they are today. As of 2020, mobile money transactions have reached 490 billion dollars in the SSA region itself. READ MORE :...

Today, we live in a world where our lives have become extremely fast-paced. We don’t like to wait even for few minutes. This is the reason why we are witnessing rise of online shopping where customers can buy items in a jiffy without waiting in the long queues. On contrary, this is also the reason why we are seeing a major decline in the growth of brick and mortar retail stores. To compete with ever-efficient and convenient online shopping sites, brick-and-mortar retail stores must reinvent their offerings. In the recent past, scan & go solutions have emerged as a savior for brick and mortar retail stores. Scan & Go is a cutting-edge self-checkout system  that makes shopping easy, fast, and secure. These system eliminates and eradicates all the cons of a retail stores that were previously causing a hurdle to offer rich shopping experience to their customers. Scan & Go technology is transforming the shopping experience across the world with its advanced features and cutt...

We are living in a digital age where convenience, rich shopping experience, and faster transactions have become a norm. eCommerce sites and applications powered by fast and   secure payment solutions   are majorly responsible for bringing this digital revolution in this space. This is the reason why many customers now prefer to shop online than going to a brick-and-mortar store. This digital revolution has also pushed brick-and-mortar stores to reinvent their offerings in such a way that they can offer an online shopping experience at their retail stores itself. And that’s the reason why retail stores across the globe are now adopting mPOS solutions to offer a rich shopping experience to their customers. But what is the mPOS solution and how does it work? In this blog, we will discuss the same along with discussing the reasons why retailers must go for an mPOS solution if they want to survive in this digital era. READ MORE :   online shopping experience with mPOS sol...

Customer acquisition and retention are two of the most difficult things to achieve for any business. Especially, in the current times when the competition is so cut-throat. Like every other business, fuel retailers also face this very problem. The advent of digitization is also impacting fuel businesses and making it difficult for traditional fuel retailers to stay in the competition. This is mainly because customers face a lot of trouble and hurdles while fuelling their vehicles in traditional fuel pumps. These hurdles and challenges associated with traditional fuel retailers are the very reasons that make customer acquisition and retention difficult. If these challenges are resolved then even traditional fuel retailers can stay in the competition. But what are these challenges? Let’s have a look. READ MORE :  How DigiPay.guru helps Fuel Retailers to acquire new clients & retain the existing ones?