ChatGPT was synonymous with Generative AI some time back, prompting me to explore its impact on the payments industry in a previous blog. However, it’s crucial to acknowledge that Generative AI is the encompassing circle in the Venn diagram, with ChatGPT being one of the circles nested within it. [...]
The domain retail sector is in a paradigm shift of digital transformation, with an anticipated 25% of global retail poised to migrate online by 2025. APIs facilitate digital-first shopping experiences in this evolving landscape, allowing retailers to swiftly adapt and enhance their systems. They empower retailers to extend services [...]
Once upon a time, in a world of traditional banking, a young entrepreneur named Richa had an innovative idea for a new financial service offering. However, she realized that her idea was only possible if she could access financial data from various banks in real time. Frustrated by the [...]
Have you ever thought about how you can make payments for a movie without standing in line or pay utility bills without stepping out of your home via Paytm or Google Pay? Yes, you can name many applications that make instant payments happen. But how is this happening? How [...]
What Is BNPL? Buy now, pay later (BNPL) is a type of short-term financing provided to consumers to purchase instantly and pay later. The process involves multiple players, such as consumers, financiers, and merchants. The financier performs a soft credit check on the customer and returns a decision within seconds. Financiers pay merchants [...]
A token is a value that goes securely through the network to process payments without exposing actual card data. Tokenization aims to replace or represent specific sensitive information without compromising its security. The 16-digit payment card account number is replaced with a unique digital identifier, or the “token,” for mobile [...]
As the name suggests, CBDC is the central bank-issued digital currency. It is an electronic form of sovereign currency that will appear as a liability on a central bank’s balance sheet just like physical currency. Instead of printing money, the central bank, backed by the central government, issues electronic [...]
