March 17, 2015
India is certainly not restraining itself when it comes to adopting the next generation of payment tools and systems. With the current favorable regulatory environment, banks and other stakeholders in the payments ecosystem are now leveraging this opportunity to come up with both consumer and business oriented payment solutions. Here are some innovation highlights from the Indian payments market:
RBI Eases Norms for Payments Using NFC Contactless Cards
For transactions under Rs.2000 ($33), there will soon be no need for additional factors of authentication. The Reserve Bank has been receiving requests from customers and entities in certain ni ...