Digipay Guru

  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 ...

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

A secure financial system is one that does what it is supposed to. And it is supposed to empower all stakeholders and ensure a secure and seamless environment for digital payments. Tokenization is a modern and trusted technology in the digital payment industry that brings together both convenience and security for every customer. Today we are going to learn about tokenization, the revolution it is bringing into the financial system, and why it is a need for  digital wallet solution  providers. The increased use of mobile has increased the use of the internet & online shopping across the globe. This led to an increase in fraudulent activities which has resulted in a challenge for the credit/debit card industry. Identity theft, affiliate and clean, phishing, pagejacking, counter-attacks, merchant and triangulations are some shouting threats and frauds for businesses and customers both. Tokenization helps ensure the continuity of customer experience, protects businesses from ...

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?

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

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 ...

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...

DigiPay.guru is the next generation mobile wallet solution provider that is empowering the FinTech companies by offering them with cutting edge features and elaborative use cases. Our goal is to empower future FinTech leaders by providing them with world-class payment solutions that can serve multiple industries. Furthermore, we believe in the continuous improvement of our solution. For this, we are adding newer updates to it to make it more efficient and feature-rich. So continuing this tradition, we have introduced its latest product update in the form of an admin top-up feature. Now, our admins can easily top-up the wallets of their agents and customers. READ MORE : DigiPay.guru introduces the admin top-up feature

  Digital payment technologies have evolved tremendously over the past few years and will continue to do so as the pandemic transforms how people do business. A recent   Rapyd survey   reveals that 60% of consumers will be using digital and   cashless payments   due to growing health concerns. Although its growth potential is promising, shifting to digital payments have created new issues for retailers and businesses, with most customers raising concerns on security, accessibility, and control spending. Are digital payments secure? According to  PR News Wire , over two-thirds of digital payment users are worried about the security of performing online transactions. This is because digital payment services gather their personal information, increasing the risk of suffering data breaches. These systems are also not immune to technical problems and outages that could impact the customers’ access to funds. While electronic payment risks are inevitable, business...

  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...

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...

  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

I precisely remember the first time when I saw a QR code. I thought that it was just a fancier version of a barcode. Later on, I was pleasantly surprised to see how different and advanced this technology turned out to be. Today, we all are well familiar with the iconic black and white square design of a QR code. The increased penetration of smartphones and access to high-speed internet has led to the massive adoption of the QR codes. That’s the reason why we see it almost everywhere whether it’s for shopping, movies, ads, etc. According to research by Statista, around 11 million households in the US alone will scan a QR code in the year 2020. This number is way more than 9.76 million scans which were recorded in the year 2018. Original Source :  Everything you need to know about QR Code Payments