Remitly, backed by Jeff Bezos has started providing payments services to India. Now, with Remitly it has become easy to send money from the US to India in mere span of minutes. With the start of the Remitly services in India, it has instantly lit over $11 billion market with aggressive evaluation and Forex rates.
With growing modernization the work is getting simpler and easier. Banking being one of the vital part human lives cannot be expected to stay back. Taking revolution to a whole new level and diversifying the outlook of banking, ICICI Banks have introduced new integrated phone based banking service called “Pockets”. With the sole purpose of bringing mob-banking to a very different level, country’s first digital bank has been launched.
Have you ever thought of transferring money to people in your phonebook contact? If anyone tells you about this option you might think that person is out of his mind. HDFC bank has come up with this innovative mobile application HDFC Chillr. This revolutionary mobile app will allow you to transfer money instantly to any contact in your phonebook. You can transfer money 24*7 which means at any time of the day you can help your family, friends and relatives.
Few years back, India didn’t have its own mobile payment platform, but a Bangalore based company iKaaz made overcome the issue by launching an android app of mobile payment known as Mowa. No more, the users of the country needs to depend on the international app for receiving and making the payments as the app solves our problem by enabling us to do all this in much easier way.
India’s largest private sector bank, ICICI Bank recently announced the launch of their banking services on Twitter. It is the first of its kind service in India that enables ICICI Bank customers to transfer money instantly to anyone in the country who has an active Twitter account.
In an attempt to woo its customers HDFC Bank has launched Digital wallet – merchant payment service, which can be used across various online retailer outlets. Customers can make payments for their purchases on various websites by remembering their HDFC Bank digital wallet details.
Thanks to the latest mobile revolution and the ongoing smart phone craze, you can move around anywhere completely cashless. Whatever the reason is, paying bills in a restaurant, paying the cab or recharging your phone, anything is possible with the latest smart phone application, Momoe. Gone are the days when you had to run the risk of carrying cash or cards everywhere.
Digitizing Life Certificates is an innovative method undertaken to alleviate the inconvenience of government pensioners in getting a life certificate every year. Under this new scheme, pensioners do not need to present themselves to any Pension Disbursing Agency or get a life certificate issued by the authority where they worked and deliver it to an agency every November
RBI in its recent circular stated that from December 29th, 2014 onwards the RTGS transfer window will be extended from 0800hrs – 2000hrs on weekdays and on Saturdays the time window will be from 0800hrs – 1530hrs. This attempt mostly benefits mostly the business and interbank transactions who wants to tranfer via RTGS beyond the current existing time window.
Wester Union Money Transfer now facilitates direct bank based transfers. It is supposed to be a major contributor to the cause of the global payment. Its networking system ensures worldwide operation. Now, it has walked another extra mile to enhance its system of networking. The thrust has been on linking the retail platform to the digitally operational, transactional sites.
After the recent rise in frauds revolving around cheque related transactions Reserve Bank of India, has made SMS alerts mandatory. Now banks will be sending an SMS alert to both drawer and payer whenever any cheque transaction is processed
Over the past many years, it has been noted that appropriate financial support can encourage small enterprise activities and can provide them a better standard of living. Very Recently RBI Governor Raghuram Rajan called for leveraging technology to achieve financial inclusion.