Digipay Guru

  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...

Neo Banks have emerged as the latest buzzword in the FinTech industry. It has taken the entire FinTech industry by storm. In a way, it’s redefining the banking sector at once by showing what the possible future of banking could look like. But what exactly is a Neo Bank and why is it such a big deal? In this blog, we are going to discuss the same along with comparing it with traditional banks and digital banks. Furthermore, we will also discuss its top benefits. So, without further ado, let’s begin. What is Neo Banks? Neo Banks can be defined as digital banks that have no physical branch whatsoever. It can be called a truly branchless digital bank. Instead of physical branches, Neo Banks have their presence entirely online. Neo-bank targets tech-savvy users who prefer the majority of money management via their mobile app or other digital media. You can call NeoBanks the FinTech firms which provides a wide range of financial services like money transfers, money lending, mobile-first fina...

The COVID-19 pandemic has majorly affected all our lives. Use of masks, sanitizers, and following social distancing protocols has become part of our daily lives. Even the businesses have adopted social distancing norms to survive in these dire times. Switching to social distancing mode has been difficult for those businesses which rely more on cash transactions and other payment modes which involve physical touch. The retail industry is a perfect example of this. However, the retail industry has found its saviour in the form of contactless payments. In this article, we will see how  contactless payments  are becoming the new normal for the retail industry. READ MORE :  How contactless payments are becoming the “new normal” for the retail industry

  The electronic form of money has become popular in the market due to its convenience, speed, and ease. With the increasing number of smartphones across the globe, an upsurge has been witnessed in the usage of mobile financial solutions like mobile payment systems or digital wallet solutions. People have started migrating to digital wallets from traditional debit cards and credit cards for their payment needs. Still, there are a few people who feel that the digital wallet is not a safer mode of payment. However, there are some secure digital wallets such as  Google Pay ,  Apple Pay , and  Samsung Pay  that are used globally. But we cannot ignore the security threats that it may pose. So before investing in a digital wallet solution, you need to look at the potential threats they may pose. In this blog, we will discuss the potential user threats of mobile wallet applications. Also, we will show you effective ways to solve them. READ MORE : Potential security thr...

  We all remember those childhood days when landlines and mobile phones used to be a big deal. The technology which enabled us to talk with our friends and loved ones anywhere and anytime was perceived as a huge upgrade from writing letters that would take days or even weeks to reach to the receiver. This was precisely the reason why the telecom industry emerged as the most powerful force of transformation. To give you the perspective, it would be safe to say that it was as powerful as today’s cutting-edge technology like Artificial intelligence, IoT, Banking APIs, etc. Cut to the current times, when telecom infrastructure is no longer an attractive marketing proposition. It’s because connectivity and communication have become a necessity rather than a luxury. As per  Statista , there are around 4.66 billion internet users across the world. According to the International Telecommunications Union (ITU), around 97% of the world’s population has the access to the mobile cellular ...

  About Alliance Mobile Solutions is a FinTech startup based in the Bahamas. It aims to offer utmost ease and convenience in person-to-person transfer, bill payments, and merchant payment services via a robust mobile wallet solution. Challenges For top-up and bill-payments, clients had to manually add external vendors and products. However, this task was proving to be very time-consuming. This also meant that if the client decides to expand its services across the globe then he has to add every external vendor manually, which would be simply impractical. So, it was a huge challenge for us to make this task quick and feasible. Read more : F eature-rich digital wallet solution

  The need for electronic payment systems has grown dramatically after the inception of online shopping and eCommerce websites. The E-payment system made it convenient for the customer to pay for anything at any time. This convenience has created emerging opportunities for businesses to extend their operations in remote areas without any geographical limitations. The COVID-19 pandemic has increased the need for electronic payment systems as it has forced people to stay at home. People are unable to go out of their homes because of lockdowns and strict social distancing norms.  So they have started using online shopping platforms for ordering daily necessities. Many businesses have started offering products and services via eCommerce platforms. Online business is the safest way for the owners to continue their operations even in the pandemic.  However, businesses need to work on their electronic payment systems if they want to provide better service. READ MORE : ...

  What’s your definition of a successful mobile wallet? Your answer might be something like this – a mobile wallet which makes payment easy, fast, and secure by leveraging state-of-the-art technologies and cutting-edge features. This definition is absolutely right. However, one must understand that only those mobile wallets taste the success which manages to achieve higher adoption. And you would agree that when it comes to wider adoption of any product or service then cutting-edge technology takes the backseat. And this is quite evident from the success of popular mobile wallets such as Android Pay, PayPal, Samsung Pay, etc. There’s no doubt that these wallets were empowered with cutting-edge tech. However, these wallets were able to make breakthrough only because of their excellent mobile wallet marketing strategies which involve exciting surprises, engaging experiences, rewards, loyalty points, etc. In a nutshell, mobile wallet marketing is a key aspect for the success of any mo...

The cradle of human civilization – Africa is continuously showing economic development for the past few decades.  Many nations have emerged as a shining beacon of progress in the African continent. It won’t be wrong to say that this prosperity and economic development is driven by the increase in the remittance payments in the continent. After all, remittance is the best indicator to show the relationship between migration and development. As per World Development Indicators 2019 database of 80 developing countries for the period of 1974-2014, an average 1 per cent increase in remittance can raise the GDP of the country by almost 0.07 per cent in the long run. Another  study  by Pew Research Remittance shows that 8 out of the 10 fastest-growing populations of expats are nationals of the countries from the sub-Saharan Africa region. This expat population can be one of the major reasons behind the increased  cross-border remittance transfers  in future years. READ...

  The landscape of FinTech is changing at a lightning speed. With each passing day, we are encountering a radical change in the FinTech industry. These transformations are important as they impact everything related to payments, money, and banking. We experience many of these FinTech transformations on the daily basis like when we withdraw money from ATM, use virtual cards, transfer money through mobile payment, make payments via digital wallets, and many more. Moreover, with the introduction of cutting-edge technologies, the  horizon of FinTech is expanding  more rapidly than ever. When the COVID-19 pandemic hit the world, the majority of the businesses declined. There were only a few businesses which showed the upward trend and FinTech industry was one of them. The pandemic caused a huge surge in the FinTech market as both businesses and consumers started to utilize  contactless payment  methods. Moreover, in the banking sector,  agency banking  beca...

  The COVID-19 pandemic is now perhaps regarded as an economic catastrophe more than a health catastrophe. It’s due to the fact it has adversely impacted almost all the business sectors around the world. Giant corporates announcing layoffs and stopping their operations in many countries shows how big of an impact of this pandemic has had on the world economy in general. COVID-19 pandemic has also impacted the  payment industry , especially the global remittances which are considered as one of the key forms of financial inflows in the developing nations. According to the  World Bank , there has been a sharp decline of around  20 per cent  in the global remittances due to COVID-19 pandemic. This fall is considered as the sharpest decline in recent history and the main reason behind it is the drop in the wages and salaries of migrant workers. Here, it’s important to understand that the migrant workers are most vulnerable to lose their employment during such an econ...

  We are living in the time of a great transition. The transition from cash to cashless. The   digital payment solutions   have challenged the century-old supremacy of cash with the help of cutting-edge technology which makes payments simple, fast, and secure. This is the reason why we are seeing many industry verticals going cashless. Following the footsteps eCommerce, food delivery, and taxi industry, the amusement park industry is also adopting  cashless payment solutions  at a large scale. Over the past few years, many amusement parks around the world have started to leverage cashless RFID ticketing solutions. The trend began with Disney when they started issuing MagicBand in the year 2013. Soon a lot of amusement parks did the same. Many of you might think that using regular paper tickets might be a cheaper option for the theme parks. However, RFID cards and wristbands offer a way more benefits. In this article, we are going to see how RFID based cashless s...

  If you’re an adult living in an urban region of any corner of the world, then you’ll be well aware of the banks. Most probably you’ll have one or multiple bank accounts. Also, you might think that who doesn’t have a bank account in today’s day and age. However, that’s not the reality in many remote and rural areas of the world. According to the  World Bank , there are around  1.7 billion  unbanked adults in the world. The major reason for this astounding number is lack of awareness, access, convenience, steady income, and trust. Trust is a huge factor as it keeps people unbanked even if they have access to banking facilities. All the major factors mentioned above along with the lack of trust in mainstream banking have given birth to some innovative and novel alternatives to banking. SACCOs is one such alternative which is doing wonders when it comes to the  boosting financial inclusion  in urban and rural areas of developing nations. As per the  2014...

  Over the years, digital technology has disrupted several industries. However, its foray and disruption in the banking sector has caused a massive transformation in the way consumers do banking. Nowadays, basic transactions in banks are speedily migrating from the physical to the digital channels. Even the big names like  Apple ,  Google ,  Amazon , and  Facebook  are showing greater interest in the banking sector. A majority of banks have adopted the omnichannel approach at the core of their strategies. It’s because banks have understood that ease, innovation, simplicity, and accessibility of platforms provided by  FinTech  companies can influence the customer behaviours quite strongly. Apart from that, it’s also the fact that most of the customers are now exclusively using digital channels like mobile banking and internet banking. Customer’s expectations for banking services have drastically changed due to the experiences offered by the online ...

  Even before the pandemic struck, the payment industry was quite dynamic over the past few years. Double-digit growth rates, dizzy valuations, and technological advancements at an unprecedented rate are some of the indicators that prove it. However, one must not underestimate the small volume decline due to COVID-19. The impact of COVID-19 pandemic on the payment industry has been less severe as compared to the other sectors of  FinTech . However, it doesn’t mean that the payment sector is completely immune to the COVID-19 effects. With social distancing and lockdown in place, the travel and transport industry has seen a tremendous decline. This decline has also affected all the payment service providers who were associated with the travel industry. Also, the economic uncertainty due to the pandemic has forced people to spend money very cautiously which has resulted in the  overall reduction of consumer spending . This reduction in consumer spending affects both the paym...

Even before the COVID-19 pandemic inflicted a massive health and econsomic catastrophe, contactless payments were already a widely used payment method. However, once the businesses reopened, they had to keep in mind the germ-conscious customers and adapt to the new normal of social distancing. Contactless payments have emerged as an essential solution for all the businesses as it enables them to drive their business forward along with ensuring safety to  combat the coronavirus pandemic . According to a  survey  that took place in mid March, around 30% of the respondents have started to use contactless payments since the pandemic began. And 70% of those users are likely to continue using contactless payments post-COVID-19. COVID-19 pandemic has actually acted as a catalyst in the adoption of contactless payments. But how? Let’s have a look. READ MORE : How contactless payments are driving digital payment services in times of COVID-19

DigiPay is a next-gen   mobile wallet solution   which aims to bring a revolution in the FinTech and digital payment landscape with its unique and advanced offerings. Over the years, DigiPay has earned a reputation by delivering top-notch digital wallet and   FinTech solutions   to its clients. Moreover, we always believe in making our solutions more robust and advanced by adding newer updates. Continuing that tradition, DigiPay has introduced a new product update in the form of  customer loyalty programs . With this update, all our existing and future clients can leverage customer loyalty features to skyrocket their profits and customer base. This feature will also play a pivotal role in attracting new customers and retaining the existing ones. So, without any further ado, let’s understand what this update is all about and how can our clients utilize to the maximum effect. READ MORE : DigiPay introduces customer loyalty programs into its mobile wallet solution ...

  Even before the COVID-19 pandemic inflicted a massive health and econsomic catastrophe, contactless payments were already a widely used payment method. However, once the businesses reopened, they had to keep in mind the germ-conscious customers and adapt to the new normal of social distancing. Contactless payments have emerged as an essential solution for all the businesses as it enables them to drive their business forward along with ensuring safety to  combat the coronavirus pandemic . According to a  survey  that took place in mid March, around 30% of the respondents have started to use contactless payments since the pandemic began. And 70% of those users are likely to continue using contactless payments post-COVID-19. COVID-19 pandemic has actually acted as a catalyst in the adoption of contactless payments. But how? Let’s have a look. READ MORE : How contactless payments are driving digital payment services in times of COVID-19

The famed British Zoologist Desmond Morris once said something which beautifully sums up the story of current cities across the world. He said, “The city is not a concrete jungle, it is a human zoo”. Today, almost 55% of the world population lives in urban cities and this proportion is all set to go as high as 68% by the year 2050. This will cause urban areas to face environmental and infrastructural pressures in times to come. However, we do have a solution in the form of smart cities that can combat these challenges. But, what exactly is the smart city? What is a smart city? According to Wikipedia “A smart city is an urban area that uses different types of electronic internet of things(IoT) sensors to collect data and then use insights gained from that data to manage assets, resources and services efficiently, in return using that data to better improve the operations across the city. This includes data collected from citizens, devices, buildings and assets that is processed and anal...

  An average privileged person enjoys several banking instruments like depositing/withdrawing money in a savings account, using ATM facilities and making digital transactions at grocery stores & mall, and many more. However, not everyone around the world enjoys these perks. According to the World Bank, around  1.7 billion  people in this world don’t have any access to the banking facilities. Yes, it might come as a surprise to many readers but a huge chunk of the global population is still unbanked. But why is it so? Let’s have a look. Why people are unbanked? To understand this situation let’s take the example of the United States of America. According to a survey by FDIC, around 7% of the American households are unbanked. This is significant as it amounts to 9 million households that have no access to a savings account or checking account. They don’t have any credit cards or direct deposits too. In simple words, these people don’t utilize any mainstream financial se...