Adoption of Mobile Money in Cashless India

The Indian Internet ecosystem had its challenges in 2016, parts of fintech has seen continued strong momentum. The number and value of transactions through mobile wallets have been growing at over 30% and 100%, respectively, and the mobile banking transactions, in volume and value, have grown at over 150% and 250%, respectively (for the period […]

Why Consumers Spend More in Cashless Transactions ?

Academic research indicates that digital mediums (credit/debit cards, digital wallets, etc.,) do not have cash outflow vividness, and hence reduce the pain of payment during a transaction in comparison to cash. As pain of payment reduces, spending propensity increases. Also, when using these mediums, people are more likely to underestimate or forget the amount spent […]

Demonetisation – Government of India’s Measures to Promote Cashless Transactions

The central Government of India has announced a slew of measures for systemic adoption of digital / plastic currency. The benefits accorded to digital transactions and benefits perceived by the government are as follows, Discount of 0.75% on digital payments at central government petroleum PSUs – Will benefit 45mn customers at petrol pumps everyday. The […]

Demonetization Effect – New Payment Platforms Grows

With the boldest move in the History of India, The Demonetisation of Rs 500 and Rs 1,000, the nation continues to see a gradual shift towards newer payment platforms which should help India move towards a less cash economy. Higher tax compliance as well as lower costs have the potential to accelerate this change, especially […]

Understand The Interest Free Period On Your Credit Card?

They say “Necessity is the mother of all inventions”. Credit Cards were born out of the need to provide an alternative to cash. Almost half a century back, when credit cards were introduced, they became an instant hit. Till date, people love to use their “plastic money” for they are universally accepted, quick, easy and […]

Why Credit Cards Still Offer Promise Despite Modi’s Digital Hype ?

In an era of Modi Government’s Digital India, new companies are unable to offer any new service but are looking to make it simpler and importantly, more relevant for consumers as the broad perception is that banking is a relatively complex business and the user experience/interface is far from satisfactory. Banks are defending their business […]