Exciting future for payments

Had an interesting conversation over the weekend with the office caretaker- a young late 20’s chap who has his wife and kids back home in Nepal. He told me very excitedly how he managed to send across money to them in Nepal through a new option wherein the credit was showing in his Nepalese account the very next day. The few interesting things that really stood out were He transferred all of Rs7000/- in one go. He didnt feel like testing the process as he was told about this option by a close friend. Referrals generate high sense of security

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Airtel gets RBI nod for the mwallet

Today’s announcement is big news for not only the mcommerce folks in the country but also for people in Telecom, Retail and Payments industry. This approval allows Airtel to act as a semi-closed loop operator for pre-paid transactions. The Customers can now deposit upto Rs5000/- with Airtel (not to be clubbed with talktime) and can then use this money to buy goods and services at Airtel partner stores. While its too early to say how this would grow, its very clear that there are certain pockets which might show early adoption tendencies – Customers without debit or credit cards &

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