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How’s Fintech Accelerating the Digital India Vision!

Tag: payments

How’s Fintech Accelerating the Digital India Vision!
Mohab Growth Hacks 0

How’s Fintech Accelerating the Digital India Vision!

Digital India has been at the very heart of Prime Minister Narendra Modi’s vision and the Fintech Industry has been at the forefront of that vision by enabling technologies that fundamentally change the way Indians transact in the new economy.  The statistics point to a large scale Fintech movement taking shape in India:

  • The Indian Fintech industry is poised to grow to $2.4 Billion by 2020.
  • The total transaction value of the entire Indian Fintech industry is forecasted to reach $73 Billion in 2020 growing at a CAGR of 22%

The tremendous talent advantage that India has coupled with the cost benefit provides a lucrative proposition for Fintech start-ups to sprout in India or to have bases in India. The increasing adoption of Fintech technologies by the large base of Indian consumers has positioned India as an attractive market worldwide. The primary players of any Fintech ecosystem include the following

  • Government & Regulators
  • Investors
  • Financial Institutions
  • Incubators, Accelerators, Innovation Hubs
  • Start-ups
  • Tech Vendors

For any upcoming industry to thrive in a vast and complex country like India there needs to be enough impetus from the government in terms of policies, infrastructure and taxes to build confidence among entrepreneurs.

In a diverse economy such as India, a wide range of Fintech products and services are required to cover the needs of a diverse demographic. Fortunately, India has the entire range of new age Fintech products and services, be it insurance financial services marketplaces, payment gateways, mobile wallets and payment aggregators.

As a testimony to the Indian market, PayTabs has recently started operations in India and you can experience the full scale of PayTabs’ global payment processor for receiving international payments by signing up for a free demo. We are a leading enabler in connecting Indian merchants to buyers across the world.

Data Sources: KPMG India Fintech Report

 

 

8 years ago
PCI-DSS: Does it sound Greek to you?
Mohab Ecommerce 0

PCI-DSS: Does it sound Greek to you?

Ever seen the green logo at the bottom of the checkout page for an e-commerce site? The PCI-DSS logo. You must have wondered what does the logo signify? Well, it is a mark of authentic security verification for the site and all the payment gateways associated with the particular site.

PCI-DSS stands for Payment Cards Industry- Data Security Standard. It is a worldwide industry body which verifies the security measures in place with regards to a payment gateway, an e-commerce site and banks as well. The certification and compliance measures are executed through globally approved scanning vendors of PCI-DSS.

One such vendor goes by the name of SISA, which recently audited PayTabs’ India office and ensured that operations in the particular office meets their security standards. SISA is a vendor which operates across the globe for PCI-DSS.

The PCI-DSS certification & compliance helps instill confidence among the uconsumer to provide their card details to the site or the payment gateway, because the card data is SSL encrypted or TLS 1.2 encrypted, thereby ensuring maximum security for the consumer’s card data.

The basic parameter of a PCI-DSS audit is to check for devices within the organization which has the potential to store, process and transact card data. No card data should be stored openly in any of the devices in an organization. All data should be in encrypted format. The CVV of a particular card should not be stored under any circumstances.

Last but not the least, the PCI council which consists of leading payments solutions providers such as MasterCard, Visa, Amex, JCB, RuPay and Dicover.

As a customer, whenever you are using your card details or bank details on any site or payment gateway, it is imperative for you to check for PCI-DSS certification/data encryption denotion.

To gain more insight on the security imperative for payment gateways, click here.

You can now subscribe to our blog alerts and stay at the top of trends and knowledge in the context of e-commerce and payments. Moreover, if you are interested in experiencing the completely secure PayTabs payment solution, sign up for a free demo!

Please feel free to leave us a comment or a query below.

 

8 years ago
Invoicing in a Jiffy!
Mohab Ecommerce 0

Invoicing in a Jiffy!

As a merchant, one of your primary concerns is the invoice generation for your customers, who has placed bulk orders or offline orders with you, for the products you have sold or the services you have delivered. Especially, you are in the space of taking international orders, it is a necessity to have an invoicing system that works for you and takes care of multiple currencies and has provision for multiple customizations and itemizations as per your requirement.

Over the years, with the advent and penetration of e-invoicing, the transactional process between a merchant and a buyer has been made easier. Automated workflows help you save time and receive payments faster and leads to reduced exceptions and disputes.  All in all, switching from manual to e-invoicing is a win-win proposition for you that enable your business grow.

Don’t pay heed to certain misconceptions in the marketplace that paints a picture of e-invoicing being only for businesses that have a website. That’s not true. If you are a brick and mortar business, you can still benefit from e-invoicing without owning a website or a marketplace. In fact, it is not just convenient; an optimum e-invoicing solution comes with user friendly features such as logo, discounting systems, taxes, invoice terms, etc.

Ideally, an e-invoicing solution should provide you with multiple benefits:

  • Manage Multiple Invoices
  • Recurring Invoices
  • Speed, Reliability and Security when it comes to payments
  • Single Dashboard for all your transactions

Besides the above, an intelligent invoicing solution should help you keep a track of your productivity through financial reporting which results in better financial management, apart from providing real time financial analysis.

PayTabs has been at the forefront of revolutionizing the invoicing space with an intelligent and robust solution known as PayPage which adds tremendous value for merchants.

8 years ago