Digipay Guru

  In today’s world of cut-throat competition, every interaction with the customer matters as it provides you with an opportunity to leave an everlasting impression on them. Almost all the major companies in the world believe and implement this philosophy. There are many companies that have extensively focused on customer satisfaction by offering innovative products and services. For example, Alibaba and Amazon have changed the way people shop. Similarly, WhatsApp and Facebook have changed the way we connect with people across the world. In the industry of financial services, customers are always at the centre of all key operations. Financial institutions incessantly try to improve and come up with better methods to attract and retain customers. However, it does come with its sets of challenges as customers expect the same convenience at  banks and financial institutes  that they experience with that of Amazon and Facebook. Nowadays, customers put banks and financial insti...

  Mobile wallet payment has certainly become the most preferred mode of payment for tech-savvy millennial and Gen Z. According to a report, as much as   67% of the millennial   are using mobile wallets. It’s also interesting to note that nowadays, the  applications of mobile wallets  are not only limited to making payments. With mobile wallets evolving with time, the customer’s expectations from it have also increased rapidly. This is the reason why customers want more than the speed and convenience at which mobile wallets can make their payments for medicine, coffee, or airlines tickets. Now, they desire that all their retail rewards balances, airline miles, and other loyalty point to be incorporated in their mobile wallet. This latest desire or demand of the customers is already met by some big names like Starbucks, Wyndham, and Walgreens which are offering customers with rewards for each time they make payments from their mobile wallets. More and more custome...

  eWallets services have been quite popular in developed countries like the US for almost the last 20 years. However, they have slowly started to gain popularity in the developing countries which are 2 decades behind the developed countries in terms of the IT infrastructure. same reasons; however, the context is different in both the cases. In this article, we will discuss how eWallets play a different role in developing economies as compared to the developed ones. We will also discuss the fact that why  contactless eWallets and mobile payments  have had greater success in developing countries. So, without any further ado, let’s start. Mobile phone compatibility Smartphones are important for a person in the US as well as for someone living in an African country. However, it won’t be wrong to say a smartphone has a greater impact on the life of the latter. It’s because nowadays, the advancements in the smartphones are bridging the gap between a laptop and a phone. So, it’s...

Today’s consumer demands a top-notch convenience, speed, and a wider-range of choices on how they can manage all their transactions and payments.  Such high demand from the customers coupled with cut-throat competition makes it extremely difficult for businesses to even survive. Mobile money has emerged as a perfect solution for not only banks but also for various FinTech businesses to deal with the above-mentioned issues. It has reduced the dependency on cash and has powered customers to access banking services at utmost ease. But what mobile money actually is? And how it has driven both revenue and customer experience. In this article, we are going to discuss the same. So, without any further ado, let’s start. READ MORE :   mobile money and how can it increase revenue and customer satisfaction

  The coronavirus pandemic has impacted several facets of our lives like never before. The pandemic has literally halted most of the human activities for weeks. The current situation is unprecedented for a globalised world whose economy depends so much on the global collaborations. With no international travel and lockdowns imposed in most parts of the world, the economy is suffering. According to some experts, we might be facing a recession worse than that of 2008. The exponential downfall in major industry vertical complies with the expert’s predictions. Coronavirus pandemic is like a nightmare for most of the industry verticals and payments industry is no exception. Many of you might think that with digital and  contactless payments , things won’t be that bad. However, it’s not that easy. In this article, we will discuss the impact of coronavirus on payment industry and will also focus on how it can recover from this pandemic. READ MORE :  How payments can combat coron...

When it comes to the matter of money, transactions, and finance, security is always paramount. We have been using various security measures to ensure that no fraudulent activity takes place. For example, bank representatives ask us for biographical data and passcodes. Similarly, a user has to confirm their identity with signatures and PINs. However, the evolving technologies are rapidly digitizing the banking and commerce sector. They are making banking services faster and more convenient than ever. However, many people are still sceptical on the security aspect of it as we have seen many cases of frauds taking place in digital payments . Biometric authentication technology has emerged as a potential solution to this issue. In this article, we will see what biometric payment technology is and how it can transform the landscape of digital payments. But first let’s understand the biometric technology. Original Source :  The ease and security of digital payments?

Economics, money, and the way we make payments have undergone several changes since the time of the Stone Age. In a sense all these are key indicators of our progress as a species. The primitive methods indicated our primitive way of living. Similarly, the current payment methods powered by cutting-edge technology boast our technological achievements of today. Digitization of payments was a huge jump towards the goal to achieve an easy, convenient, fast, and secure payment method. Arguably, we have achieved all of it. Digital payment methods saw massive developments in the span of four to five years and we are about to see even more changes in the coming future. In such times, it’s really exciting to see what 2020 has in store for us. In this article, we will closely look at all those digital payment trends that will make it big in the year 2020. Origimal Source :  Top 8 Digital payment trends for 2020

You might have heard the term microfinance many times. You might also have a rough idea as to what it is and why it is important. Most of us knows that the role of microfinance in economic development is to serve the needs of those who are economically marginalized. But do you know how it actually works? Or how did it all begin? and most importantly how will it shape in future? In this blog we will try to give answers to all these questions one by one. But before that, let’s understand what microfinance is? What is microfinance? Microfinance which is sometimes also referred as microcredit is the banking services that are aimed at low-income or unemployed groups and individuals. The aim is to help those who don’t have the privilege to access  financial services . The banks or financial institutions that participate in this provide microloans that can range from something as small as $100 to something as big as $25,000. Not only this, many banks also provide addition...

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. Global remittance: An expensive affair There’s no doubt that global remittance has proved to be a lifeline for many families. However, it’s also true that the global remittance services are expensive as they come with a b...

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...