To begin with, let us first discuss what NACH or mandate means. National Automated Clearing House (NACH) is a set of instructions that you give to your banks or financial institutions to allow them to debit the informed amount from your bank account. This is otherwise called as Mandate. If banks perform the mandate process […]
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With Technological developments aboard, the necessity of data security has been a need of the hour. So, NPCI has introduced the NTS system with the main focus of securing the data of customers from merchants. The merchants should securely hold the card details or any sensitive information of the account holders with due diligence. NPCI […]
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Open data is information that anybody can use, re-use, and redistribute it freely, except for attribution and share-alike requirements. Although a growing amount of low-income people are adopting formal financial methods, many aren’t taking advantage of all its advantages. New platforms for sharing data and payment adaptability could foster innovation by giving access to client […]
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On this edition of Payments Insider, we are bringing you a brief view on Tokenization. This RBI recommended method is creating buzz everywhere and we knew you’d have questions. What is tokenization? A merchant would send the credit card number to a trusted partner, such as your payment gateway, via encryption. In turn, the payment […]
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E-Rupi is a cashless and contactless digital payments system. The Indian Government launched it on 3rd August 2021. The main purpose of this system is to make sure government benefits reach the citizens without any leak. It is an electronic voucher that will be provided to recipients in the form of a QR code and […]
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