Discover and read the best of Twitter Threads about #digitalpayments
Most recents (14)
1/12 Hey, @MultiversX lovers! 👋 Have you heard about the latest breakthrough in digital payments?
Get ready to meet @xMoney_com, a revolutionary platform transforming the way we transact and manage money.
Let's dive into what makes xMoney so special. 🧵👇
#cryptopayments
Get ready to meet @xMoney_com, a revolutionary platform transforming the way we transact and manage money.
Let's dive into what makes xMoney so special. 🧵👇
#cryptopayments
2/12 xMoney_com is a cutting-edge #payment solution developed by Utrust, a leading cryptocurrency #paymentgateway.
With @xMoney_com, users can seamlessly make transactions in various cryptocurrencies, bridging the gap between traditional and digital currencies. 💱
With @xMoney_com, users can seamlessly make transactions in various cryptocurrencies, bridging the gap between traditional and digital currencies. 💱
3/12 Built on a secure and decentralized blockchain network, @xMoney_com ensures the privacy and integrity of every transaction.
It leverages the power of blockchain technology to provide fast, reliable, and transparent payments across borders. 🌏
It leverages the power of blockchain technology to provide fast, reliable, and transparent payments across borders. 🌏
@GSMA has published its annual State of the Industry Report on Mobile Money 2023, which provides insights into the global mobile money landscape.
Here are some key takeaways from the report.
A thread:
#MobileMoney #DFS #FinancialInclusion #DigitalPayments
Here are some key takeaways from the report.
A thread:
#MobileMoney #DFS #FinancialInclusion #DigitalPayments
↗️Adoption and active usage continue to rise, with registered accounts growing by 13% YoY, from 1.4 billion in 2021 to 1.6 billion in 2022.
Accounts active on a 30-day basis also grew at the same rate.
Africa continues to show growth and particularly Ethiopia 🇪🇹 and Nigeria 🇳🇬.
Accounts active on a 30-day basis also grew at the same rate.
Africa continues to show growth and particularly Ethiopia 🇪🇹 and Nigeria 🇳🇬.
📱Mobile money has become a mainstream financial service in many countries enabling millions of people in low and middle-income countries to access digital financial services for their daily needs.
The @BangkoSentral is ready to work with the industry to find ways to eliminate fees on small-value fund transfers and incentivize more Filipinos to use #digitalpayments. If the fee is P15 for a P200 transaction, then the fee is quite large relative to the amount being sent.
We are ready to collaborate with banks and payment system operators to explore a cost-sharing system that excludes small transactions from these types of fees.
We may even consider cutting the reserve requirement to enable banks to make these concessions. All these, in pursuit of a financial system that leaves no one behind.
”Who you gonna call?” #Crypto myth busters! 👻
Time to turn on the fact checker for 5 common myths and help people step closer to financial freedom 🕊✅
If you know someone who still believes in #Web3 ghosts, share this clear info🧵👇
Time to turn on the fact checker for 5 common myths and help people step closer to financial freedom 🕊✅
If you know someone who still believes in #Web3 ghosts, share this clear info🧵👇
❌ Myth #1: Crypto is not backed by anything, so... it has no value ❌
✅ Truth: The value is determined by supply and demand, just like any other asset in the market. While some cryptocurrencies are not backed by traditional assets, they have value based on their function.
✅ Truth: The value is determined by supply and demand, just like any other asset in the market. While some cryptocurrencies are not backed by traditional assets, they have value based on their function.
❌ Myth #2: Crypto is only for tech-savvy people ❌
✅ Truth: Crypto and #web3 are becoming increasingly accessible and user-friendly for any common person with an average level of internet knowledge. Regarding #cryptopayments, #Utrust is easy to use, even without experience.
✅ Truth: Crypto and #web3 are becoming increasingly accessible and user-friendly for any common person with an average level of internet knowledge. Regarding #cryptopayments, #Utrust is easy to use, even without experience.
The size of Pakistan's digital payments ecosystem saw significant growth in the past fiscal year, according to the State Bank of Pakistan's Annual Payment Systems Review.
Mobile phone banking increased by 100.4% to 387.5 million transactions, while internet banking grew by 51.7% to 141.7 million transactions.
E-commerce transactions also saw strong growth, with the volume increasing by 107.4% to 45.5 million and the value by 74.9% to PKR 106bn ($665m).
UPI largest retail payment system in India and UPI volumes have exceeded ATM Withdrawals since April 2020: Economic Survey Of India 2021-2022. Could this finally mean India prefers #DigitalPayments over cash? A thread 👇
1. Unified Payments Interface (UPI) is currently the single largest retail payment system in the country in terms of volume of transactions, indicating its wide acceptance In December 2021, 4.6 billion transactions worth ₹8.26 lakh crore were carried out by UPI.
2. 50% of transactions through UPI were below 200. In April-November 2021, UPI processed more than 24.26 million One Time Mandate create transaction of value ₹44,381 crore.
👀💻Have you checked our Finaplo Financial messaging libraries? They can be provided either online, through our cloud APIs, or on-premise: finaplo.paymentcomponents.com
#fintech #finserv #ISO20022 #iso20022migration #finaplo #payments
#fintech #finserv #ISO20022 #iso20022migration #finaplo #payments
❤️Our FINaplo is already used and loved by thousands of developers worldwide!
paymentcomponents.com/case-studies/f…
#casestudies #iso20022 #SWIFT #SEPA #CBPR #iso20022migration #finaplo #payments
paymentcomponents.com/case-studies/f…
#casestudies #iso20022 #SWIFT #SEPA #CBPR #iso20022migration #finaplo #payments
And of course, it was crafted by our awesome team with passion and enthusiasm: paymentcomponents.com
#fintech #finserv #developer #coding #digitalpayments
#fintech #finserv #developer #coding #digitalpayments
Starting today, @RBI new set of guidelines will become applicable for recurring payments via cards.
As the industry moves to the new standard, here is my take the new rules 1/n
As the industry moves to the new standard, here is my take the new rules 1/n
Till date, rules on recurring payments via cards were not clear. Recurring payments worked on credit cards but not on debit cards. There are 900 million debit cards that are now eligible for supporting recurring payments under the new guidelines. 2/n
This is a massive change and along with the UPI Autopay, it will open the floodgates for recurring payments and subscription economy in India. 3/n
I am late to this party but wohooooooo 🎉🎉🎉
UPI e-vouchers will change the world of Direct Benefit Transfers (and gift cards) forever.
Read 👇 to understand how (1/10) :
#upi #payments #fintech #DigitalPayments
UPI e-vouchers will change the world of Direct Benefit Transfers (and gift cards) forever.
Read 👇 to understand how (1/10) :
#upi #payments #fintech #DigitalPayments
(2/10) GOI's press release explains E-voucher as a 'digital payment option which enables financial transactions linked to a specific purpose which can be used only by the intended user'
What does that mean?
What does that mean?
(3/10) E-vouchers are digital gift cards built on top of UPI.
Basically, GOI can now create a subsidy scheme by identifying
A) The people who need assistance
B) Shops where these guys should be able to spend
Once this is done, transfers can begin in <24 hours.
Basically, GOI can now create a subsidy scheme by identifying
A) The people who need assistance
B) Shops where these guys should be able to spend
Once this is done, transfers can begin in <24 hours.
As #DigitalPayments and privatization of cash becomes mainstream - MINT gets eroded. #Cash #SPIMCL
Cherapally's loss is Gachibowli's gain.
Cherapally's loss is Gachibowli's gain.
Gachibowli's gain - as seen on a 5GB
Its been hard last 4 years seeing the privatization of cash and going to be harder decade coming up to see privatization of bus networks across the country. Stay strong and Keep the fight up
1/6) Customer fees waived to promote #online and #mobile #banking to contain spread of #coronavirus. More details in press release: sbp.org.pk/press/2020/Pr-…
2/6) #SBP takes measures to promote #digitalpayments amid #COVID19 pandemic. Objective is to reduce need for visiting bank branches or ATMs and to promote use of internet #banking, mobile phone banking.
3/6) Charges have been waived for customers on fund transfers through online banking channels such as Inter Bank Fund Transfer (IBFT) and SBP’s Real Time Gross Settlement System.
#CashlessConsumer @anivar@chowchow.social is at #AadhaarTribunal and is talking on intersection of #Aadhaar and #DigitalPayments / #Fintech.
#CashlessConsumer makes the following demands to seek a reform in #DBT / payments infrastructure
#CashlessConsumer makes the following demands to seek a reform in #DBT / payments infrastructure
1. A thorough #CAG audit on #DBT infra to officially document the reasons for exclusions (untraceable payments referred in #NITIAayog Poshan report) and detailed report on #APB, compensate the beneficiaries who are denied welfare benefits with interest
#CashlessConsumer Much has been talked about #ZeroMDR amidst lot of panic based misinformation, half truths.
1.1.2020 marked 3 significant changes to payment industry all of which have deep implications. #Thread
1.1.2020 marked 3 significant changes to payment industry all of which have deep implications. #Thread
Facts first and opinions later.
On 30 Dec, FinMin clarified provisions in Finance Act relating to digital payments
1. 269SU meant for large companies > 50 Crores, mandating to accept "prescribed modes"
2. 271DB - Penalty for violating 269SU
On 30 Dec, FinMin clarified provisions in Finance Act relating to digital payments
1. 269SU meant for large companies > 50 Crores, mandating to accept "prescribed modes"
2. 271DB - Penalty for violating 269SU
incometaxindia.gov.in/communications… - Link to notification.
269SU makes #ZeroMDR, but important to note its applicable only for large businesses and only for "prescribed modes"
Prescribed modes came via incometaxindia.gov.in/communications…
269SU makes #ZeroMDR, but important to note its applicable only for large businesses and only for "prescribed modes"
Prescribed modes came via incometaxindia.gov.in/communications…
#ZeroMDR 1/ Since 2006 I have been the bigget believer and proponent of in digitizing payments - ideally via mobile payments - lord knows I've preached this more than anyone else has! Even my 83-year-old mother is a convert, and I literally refuse to pay anyone in cash!
#ZeroMDR 2/ The benefits of #digitalpayments are spread across a large ecosystem - notably the government, merchants, consumers, banks & Payment Systems Providers (PSPs).
The costs of digital payments are today borne by the banks & PSPs - who pass them on to merchants!
The costs of digital payments are today borne by the banks & PSPs - who pass them on to merchants!
#ZeroMDR 3/
Indirectly merchants pass these on to consumers & have a blended cost. Some explicitly pass these costs to the consumer as a "surcharge".
Today's incentive alignment ensures that cash will continue to be the most (financially) attractive for face2face payments!
Indirectly merchants pass these on to consumers & have a blended cost. Some explicitly pass these costs to the consumer as a "surcharge".
Today's incentive alignment ensures that cash will continue to be the most (financially) attractive for face2face payments!
