Spice Money: Industry Monitoring 18 April 2019
- Priyanka Kanodia
- Apr 18, 2019
- 3 min read
Spice Money
Competitors
EbixCash rolls out the Big Forex Bonanza Campaign for customers
Publication- Travel Biz Monitor
Edition- Online
Date- 18 April, 2019
EbixCash World Money Limited, a subsidiary of Ebix, Inc. has announced that it has rolled out its Big Forex Bonanza campaign coinciding with the peak travel season that runs from the April to June (AMJ) period. To be run till June 30, the campaign aims to capitalise on the foreign exchange demand of Indians travelling overseas and provide a broad array of benefits to customers. The offers can be availed by walking into any of the branches or ordering forex online.
“With an increase in the number of Indians travelling to overseas travel destinations, the average spend on global travel is on the rise, the core promise of our Big Forex Bonanza campaign is to make the travel experience of our customers special and memorable through simplified forex solutions” stated T C Guruprasad, MD, EbixCash World Money. He also added “As one of the largest issuers of pre-paid cards in the country, we expect an upsurge on holiday foreign exchange demand, during this travel season. Hence our endeavor will be to provide 360-degree customer convenience through our branch network or doorstep delivery to the customer.”
Please click on the link below:
Industry News
UPI payments is now live on ETMONEY app
Publication- The Economic Times
Edition- Online
Date- 18 April, 2019
In an effort to double its monthly user base by the end of the year, ETMONEY, India’s largest app for financial services, has integrated Unified Payments Interface (UPI) as a payment option on the application. The company hopes to simplify the user journey through the app, especially for making payments for mutual funds. It has set a target to grow to Rs 5,000 crore in mutual fund transactions in the next 12-18 months and is targeting 10 million users by the end of the current year. ETMONEY is owned by Times Internet which is a part of the Times Group that publishes The Economic Times. Explaining the flow for the user, Mukesh P Kalra, chief executive officer at ETMONEY, said that customers opting to pay through UPI will need to choose the payment mode, enter their virtual ID and select ‘Make Payment’.
Once selected, the customer will have to authenticate the transaction through the UPI app she or he chooses which will also ensure safety of the transaction. The UPI is enabled in both Android and Apple iOS apps of ETMONEY. “Our integration with UPI will make it faster and more convenient for a wider section of Indians to invest and secure their lives. This is a part of our larger objective of introducing digitalfirst financial services offerings to more than 10 million users by the end of this year,” said Kalra. ETMONEY recently crossed Rs 2,000 crore in mutual fund transactions through its platform.
Please click on the link below:
Making payments gets easier: Google Pay allows users to access loyalty cards, tickets via Gmail
Publication- The Economic Times
Edition- Online
Date- 18 April, 2019
First tested earlier this year, Google Pay is now allowing some users to import their data from Gmail to gain access to loyalty cards and tickets in the payments app. The server-side update, as spotted by 9to5 Google, shows a new setting for Google Pay users on Android. The feature allows the app to pull out relevant data from their Gmail automatically and show in the payment service app.
Each added pass also alerts the user that if it is removed from Gmail, it will also be removed from Google Pay. The extent to which Google has rolled out the feature to end users is not known, but it is available to users with Google Pay version 2.86 or higher on Android.
Please click on the link below:
Digital payments adoption report a rise, frauds inflate too: FIS Pace Report
Publication- Elets Online
Edition- Online
Date- 18 April, 2019
Adoption of digital payments has reported a phenomenal rise in the country but frauds too have inflated simultaneously, said FIS Pace Findings 2019 released in Bengaluru. The report also revealed that a large portion of consumers affected by the frauds had also recently shifted from cash or card to mobile phones for payments. This underlines the urgent need for the banks to scale up their security systems and consumer awareness, as awareness in terms of security features around digital payments is still low, said the report.
While over 41 percent respondents said that their interactions with their banks are largely mobile phone based, more than 96 percent of the financial fraud victims had moved from card or cash for payments to mobile phones over the last one year. Nearly 16 percent of the customers who participated in the survey, communicate with the banks via desktop or laptop, seven percentage points lower than the figure reported last year, as per the findings.
Please click on the link below:
Comments