Digipay Guru

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