DiGiSPICE: Industry Monitoring 29 June to 01 July 2019
- Priyanka Kanodia
- Jul 8, 2019
- 10 min read
DiGiSPICE
Spice Money launches smartphone enabled Micro ATMs
Publication- The Outlook India
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Spice Money's Micro ATM: How Noida-based FinTech company is helping small merchants
Publication- DNA India
Edition- Online
Date- 29 June, 2019
To decrease the maintenance cost on Physical ATM and to develop an alternate transactional framework, Spice Money, a financial technology (FinTech) company based in Uttar Pradesh's Noida, had launched 'Micro ATM' a couple of years back. The purpose of this was to achieve greater financial inclusion and curb down the cost that a bank spends maintaining a physical bank ATM.
Spice Money, a DiGiSPICE group company, is a digital and FinTech company based in Noida. It provides multiple services to merchants and retail counters such as money transfer/remittance, mini ATM, etc. It provides micro-payment services where a sender and receiver get cash in their bank simultaneously.
The Micro ATM helps to withdraw, deposit cash, enquire balance in the bank account. It gives all the traditional facility that the ATM provides. It is a cost-effective tool for small traders and shopkeepers. This is where the FinTech company like Spice Money establishes itself in a new market and build its own brand.
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Spice Money launches smartphone-enabled 'Micro-ATMs' Publication- SME Times
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled 'Micro-ATMs', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise's AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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SPICE MONEY LAUNCHES SMARTPHONEENABLED ‘MICRO-ATMS’
Publication- Yes Punjab
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Spice Money launches smartphone enabled Micro ATMs
Publication- Daily Hunt
Edition- Online
Date- 29 June, 2019
Spice Money, a DiGiSPICE Group company dedicated towards applying fin-tech solutions to achieve greater financial inclusion, has taken another strong step towards this objective through its 'Micro-ATMs' similar in design to Point-of-Sale card machines.
Spice Money has already been rolling out the cash withdrawal facility across its 2,00,000 merchant points through Aadhaar Enabled Payment System. It continues to add thousands of merchants to this network every month.
Considering the fact that Confederation of ATM industry (CATMi) has announced its plans to shut down nearly 50 per cent ATMs due to high maintenance cost of software and equipment upgrades, Spice Money has taken up the pressing task of developing an alternate transactional framework.
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Spice Money launches smartphone-enabled ‘Micro-ATMs’
Publication- Social News XYZ
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled 'Micro-ATMs', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise's AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Spice Money launches smartphone-enabled ‘Micro-ATMs’
Publication- NewsD
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Spice Money launches smartphone-enabled ‘Micro-ATMs’
Publication- NP News24
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Spice Money launches smartphone-enabled ‘Micro-ATMs’
Publication- The Siasat Daily
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Spice Money launches smartphone-enabled ‘Micro-ATMs’
Publication- Daily World
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Spice Money launches smartphone-enabled 'Micro-ATMs'
Publication- Daiji World
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Spice Money launches smartphone-enabled ‘Micro-ATMs’
Publication- Can India
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Payment Services Provider Spice Money Launches Smartphone-Enabled
Publication- News Gram
Edition- Online
Date- 29 June, 2019
Payment services provider Spice Money has launched smartphone-enabled ''Micro-ATMs'', similar to Point-of-Sale (PoS) card machines across its existing 2l lakh customer touchpoints. The company has already been rolling out the cash withdrawal facility across its merchant points through Aadhaar Enabled Payment System (AEPS).
"The enterprise''s AEPS systems enable thumb-print driven transactions, while its Micro-ATMs allow users carrying debit cards to do essential financial transactions," said the DiGiSPICE Group company said in statement. Both AEPS and Micro-ATMs allow cash withdrawal and balance enquiry, it said.
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Competitors
Paytm Mall eyes Rs 17,000 crore in gross merchandise value by end of FY20
Publication- Business Standard
Edition- Online
Date- 30 June, 2019
Online marketplace major Paytm Mall, which is trying to come back as one of the biggest competitors to Amazon India and Flipkart, has said the company is targeting Rs 17,000 crore in gross merchandise value (GMV) by the end of 2019-2020 financial year (FY20).
The online marketplace company of Vijay Shekhar Sharma-led One97 Communications said it had already broken even per order basis and would be profitable at an entity level in the next two years. “Paytm Mall is focusing on profitability, reduced costs of logistics, and our distribution that has allowed us to make the business which ...
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Ericsson, Nokia assure telcos of speedy 5G rollout
Publication- The Economic Times
Edition- Online
Date- 01 July, 2019
Ericsson and Nokia are learnt to have assured key clients, Vodafone Idea and Bharti Airtel, of speedy 5G network rollouts after the spectrum allotment, in a scenario if China’s Huawei is barred from supplying 5G gear in India on security grounds, people familiar with the matter said. Any potential exclusion of Huawei is likely to open up big revenue opportunities for both European vendors which have upped their ante in lobbying to step into the Chinese 5G gear maker’s shoes, although they would have to stave off a challenge from Samsung, which will also try to fill any potential gap created if Huawei is barred. ET had reported that both Airtel and Vodafone Idea have started engaging with Samsung.
At present, Huawei, Ericsson and Nokia are the Big 3 network vendors in India, while Samsung only supplies to Reliance Jio Infocomm. Analysts though said that Huawei’s absence could delay 5G rollouts by at least a year besides increasing deployment costs as exclusion of a major global network vendor would choke competition and raise gear procurement costs for telcos. Ericsson and Nokia, however, have underlined their dominance of commercial 5G network buildouts currently underway across the world, and are confident of supporting their top telco clients in India in their future 5G deployments, with or without Huawei.
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Not charging extra for digital transactions: Paytm
Publication- The Economic Times
Edition- Online
Date- 01 July, 2019
Digital wallet Paytm on Monday refuted reports that it is going to charge users extra amount for digital transactions on its platform. "We would like to clarify that Paytm app/payment gateway owned by One97 Communications Limited does not charge or levy any convenience/transaction fee from our customers on using any payment method which includes cards, UPI, netbanking and wallet. "Paytm customers will continue using all the services available on the platform without any fee," the Noida-headquartered company said in a statement.
The ET report said that Paytm is going to allegedly charge 1 per cent on payments via credit cards, 0.9 per cent for debit cards and up to Rs 12-15 through net banking and UPIbased methods. According to the digital payments company, there have been few merchants like educational institutes or utility service providers who do not absorb credit card charges and expect customers to pay the same.
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Industry News
Bank digitisation creates new jobs: Robot programmer to blockchain expert
Publication- Business Standard
Edition- Online
Date- 29 June, 2019
Banks have seen a rise in employee count as profiles evolve and business scales up even as automation leads to various job profiles becoming redundant. In addition, with front and back-end jobs at banks giving way to more complex roles, technology and rising digitisation have also led to creation of new roles.
Changes at branch level
Banking products and services have undergone a transformation due to the changing consumer behaviour and shift towards digital banking. This shift also resulted in a change in the banking job profile, said experts. “Digital transformation requires banks to make a commitment to fundamental, organisational and cultural changes that facilitate this kind of ongoing innovation and change,” said DD Mishra, senior director analyst, Gartner.
As changes in customer behaviour led to a change in both the size and nature of branches, the staff at branches also evolved, said Surinder Chawla, head — retail liabilities and wealth management.
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5 IoT trends and predictions for 2019
Publication- The Asian Age
Edition- Online
Date- 29 June, 2019
The concept of the Internet of Things, or IoT as it is more commonly known, has been around for almost four decades. After all, the first internet-connected machine was developed as far back as 1982. As a technology with wide-ranging applications within the market, however, IoT only started gathering momentum in the mid-to-late 2000s.
In a span of fewer than two decades, however, IoT has played a major role in drastically improving the productivity of our routine tasks. This is one of the major reasons behind the steady rise in the number of connected gadgets in offices and homes across the globe. But the evolution is nowhere near done.
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RBI’s arm Building Model Platform for Blockchain Apps Publication- Tech Story
Edition- Online
Date- 30 June, 2019
In the month of August 2018, it was reported that India’s central bank, Reserve bank of India had now set up a unit to supervise, oversee its efforts in some of the latest emerging technologies which even includes the blockchain, cryptocurrency, and AI. Moreover, RBI as of now denied the report later point of time. But in the month of April, it was revealed that the NPCI which was incorporated by the RBI, is also working on to develop a highly scalable blockchain based payment solution to even further strengthen digital payment in the country.
Now, in recent news of this, Institute for Developing and Research in Banking Technology, which is an arm of RBI that exclusively focus on banking technology, is working on the development of a model blockchain platform to cater the needs of the banks. The upcoming blockchain platform will also put up all the available blockchain applications with features like the inter-portability and others.
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Smart city mission prioritises affluent: Study
Publication- The Times of India
Edition- Online
Date- 01 July, 2019
The smart city mission in Chennai is more focused on civic infrastructure and not on social infrastructure, a sign that the affluent sections of the population get priority, says a report by the Information and Resource Centre for the Deprived Urban Communities (IRCDUC). In a survey conducted with more than 100 persons in T Nagar —half of them from marginalised sections — residing within onekilometre of where the project is being implemented, around 80%said they were not aware of the project. “Of the 20% who have heard about the project, none of them had participated in any consultation or discussions on smart city mission,” the report stated.
The core infrastructure elements in a smart city included adequate water supply, assured electricity supply, sanitation, affordable housing for the poor and digitalization of governance. However, an analysis of the list of projects under the Chennai smart city proposal revealed that 47% of the budget was towards improving urban mobility and transportation. The second highest allocation, 20%, was for ensuring electric supply, and the rest was for water, sanitation, solid waste management and sustainable environment activities.
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