Digipay Guru

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?

  A massive number of 100 million poor people across the world receive government-to-person (G2P) payment. This huge number in itself shows how important G2P payments are especially for the poor segment of the world population. G2P payments which are also referred to as government social protection payments are the payments made by the government authorities to the people for their welfare. These payments include government transfer payments like social benefits, pensions, and unemployment benefits. It also includes government wages and tax refunds. G2P payments are done across the world; however, the way it’s done differs in various countries. For example, in 90% of the developed nations, G2P payments are done digitally. Whereas, in more than half of the  developing countries , G2P payments are made via cash and checks. But in recent times, governments are moving from a cash-based system to a fully digitized G2P payments system. READ MORE :  Digitizing Government-to-Pers...

  FinTech or Financial Technology has been a game-changer for the payment industry. Over the years, it has successfully transformed the payment industry’s offerings and customer-experience for good. FinTech has satisfied the growing populations of developed countries which use cutting-edge technologies and electronic devices to manage their daily affairs. And now FinTech is doing the same thing in many developing nations. The  African continent  is a prime example of that. However, over the years, Latin America has also emerged as the land of new FinTech opportunities with several FinTech start-ups and enterprises trying to bring a digital payment revolution there. The entire region is experiencing a push toward innovative and upgraded technologies and payment options. Even the stats indicate the same. FinTech start-ups in Latin America have received over  US$ 600M  in VC funding for the year 2017 alone. It’s interesting to note that  56%  of the compa...

  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...

  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 : ...

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...

  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...

  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 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

  COVID-19 pandemic has caused havoc to our professional and social life. This contagious disease has forced us to take unprecedented actions which have caused massive losses to almost every business sector. The banking sector is also not spared from its wrath. The  reports  show that the overall losses in the banking sector can exceed that of the 2008 global financial crisis by about 60%. It’s quite obvious that with such massive impact would easily trickle down to agency banking as well.  Agency banking  which is viewed as a bullet-proof method of financial inclusion in many developing nations is also facing the adverse effect of the pandemic. READ MORE : 6 ways to transform Agency banking into a low-touch channel in the 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...

  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...

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...

According to a report by the World Bank, around  1.7 billion  adults in the world remain unbanked as they don’t have a bank account. Back in 2014, this number was 2 billion. To fight this grim reality the governments of many countries have started to aggressively focus on financial inclusion. At the same time, it’s also important to understand that availing banking services is not easy for all. Almost 59% of unbanked adults have stated the lack of affordable banking service as the major reason for them to not have an account. In addition to that, the exhausting documentation process makes the matter worse for the unbanked people. But with the latest FinTech developments, banking is all set to change forever. The combination of internet and smartphone penetration has served well for the financial industry, especially the banking sector. It has empowered banks to offer their services to a person irrespective of his location. This new phenomenon is called branchless ba...

Cashless transactions and digital payments have become more prominent than ever. Its top-notch convenience, speed, and various other benefits have attracted many users and merchants across the industry verticals. . Fuel retail is one such industry that has witnessed massive impacts of cashless payments in recent years. In this article, we will discuss about the current scope and future of  cashless payments at the fuel stations . Stats suggest that users are slowly but consistently opting for cashless payment mode at the fuel stations. About 72% of the people in the UK prefer to make payments via mobile app like Apple Pay or by cards instead of cash. Similarly, around 63% of people in the UK said that they would prefer pay-at-the-pump option than to making payment to the cashier. Moreover, 76% of the people would be happy to purchase fuel of a specific brand or from specific stations if they are offered with reward points. These stats ...