What are the top Crypto currencies which are going to be the future of Crypto?

There are are thousands of crypto currencies are coming up every year but everyone knows that not all the crypto currencies can be a future of crypto World 70% of the crypto currencies are just works on block chain however no one uses its real usage.

Most of the users are using crypto as a method of investments and for the cross border transactions. Well some of the countries have imposed ban on these and some of the countries are imposing huge taxes on the crypto trading.

Countries like India is imposing 30% of tax on each currency on which you make the profit, well this seems to be positive news but 30% is huge.

So lets come back to our topic, what are they crypto currencies that are going to survive and going to give you a huge margin profit.

  1. Bitcoin
  2. LTC (Litecoin)
  3. BNB
  4. ADA
  5. Polkadot (DOT)

The embedded payments opportunity for businesses looking to boost their post-COVID recovery

It’s been an unprecedented couple of years for businesses, with many industry sectors having been hit hard financially by ever-evolving restrictions. As firms set about trying to recoup some of the losses incurred during the various lockdowns, embedded payments offer an opportunity to open up new revenue streams, while improving the customer experience and streamlining processes. 

Businesses around the world are increasingly looking to embed financial services into their customer propositions. This trend to embedded finance allows companies to take control of the end-to-end customer journey and partner with financial institutions (FIs). In turn, embedded finance creates an alternative distribution channel for FIs to deliver products through fintech and enterprise channels (Banking-as-a-Service). Partnerships between FIs and businesses, and the growth of embedded finance generally, is being strongly accelerated by the digital transformation of financial services through APIs, leading to open finance. While integration of financial services into corporate systems used to be a complex undertaking requiring a bespoke implementation project, APIs have made such integrations much easier.  

The case for embedded payments

Within the embedded finance opportunity, payment applications represent the lion’s share of the expected value. The embedded payments case is forecasted to generate more than 60% of the total value attributable to embedded finance, growing from US$16 billion in revenue in 2020 to US$141 billion by 2025 – a compound annual growth rate (CAGR) of 54%.[1]

Payment use cases are the prime example of embedded finance applications, enabling businesses to integrate payments into their offering and control the customer experience from start to finish. Take Uber and Lyft, which embed payments into their apps, enabling a frictionless customer checkout experience, or Amazon, which offers monthly instalment plans (buy now, pay later) to increase conversion, as notable examples. 

Digital transformation has created a new paradigm for how consumers and businesses expect to interact with their financial institutions. Customers have become used to accessing their information in real time, 24/7, through any device or channel. Many banks, large and small, struggle to offer the experience that customers expect, presenting an opportunity for new entrants to occupy the digital banking space. Fintech firms have been successful in delivering superior digital customer experiences and are able to acquire large customer bases and attract attention from investors around the world. In 2020, the global investment in fintech firms was US$33.9 billion.[2] Fintech ecosystems are developing as fintech companies seek partnerships and build platforms to scale more quickly and accelerate time to market. 

Managing global embedded payments

Embedded payments allow enterprises to control the end-user experience under a single brand, making the actual payment provider ‘invisible’ to the customer. It also enables the company to streamline its internal processes for B2B disbursements and collections. However, building the capability in-house requires significant work, technical expertise, and a firm grasp of all the costs that can arise. This complexity multiplies for multinational companies that need to manage payment processes across borders. These firms face many challenges in managing cross-border payments, having to deal with local regulations, different currencies, different payment methods, and different service levels (for example, uncertainty when it comes to when funds will arrive and at what cost). There is pressure on the payments ecosystem to find ways to simplify and remove the friction in the cross-border space. 

Businesses that need to make payments across geographical lines are becoming aware of the benefits of faster, more transparent payment capabilities. With continued globalisation, businesses have a greater choice of who to do business with, who suppliers are, and how services are provided and by whom. Faster payment methods, with account-to-account settlement, provide a significantly higher rate of satisfaction, strengthening business relationships. 

For payment providers, this means that the expectation to enable frictionless payments, even in the cross-border space, is increasingly important. Businesses are not so concerned about what payment method is utilised or the infrastructure in place to make that happen, but they do expect fast, predictable, secure, and efficient payment settlement. Account-to-account technology solutions allow FIs to better meet these businesses’ needs.  

These are unprecedented times as companies plan for post-pandemic recovery amongst so much other uncertainty.  But certain truths remain.  The push to online has created market opportunity at a more global level than ever before. The advancement of remote workforce tools during the pandemic has transformed the employee base internationally, too.  As companies scale and look to embrace the opportunities afforded by embedded finance in the post-COVID era, they need a modern, unified, compliant, and cost-effective payments network that can seamlessly send and receive money across different countries.

[1] Source: Lightyear Capital

[2] Source: Aite-Novarica Group

Payment apps are cornering the SME sector. What can India’s old-fashioned lenders do?.

Visit a mid-sized store in an Indian city, and you’d wonder if it exists to make any money. It might just as well be there to process transactions for half-a-dozen payment apps: PhonePe, Paytm, Google Pay, BharatPe, Amazon Pay and MobiKwik. Add up the merchants who have downloaded the digital services and the figure quickly reaches 80 million. A third of India’s 60 million-plus small businesses are using an average of four different platforms, according to Raman Khanduja, the chief executive officer of Mintoak, a Mumbai-based fintech.

“The neighborhood shopkeepers’ bandwidth is getting sucked into accepting money,” he says. “When do they run their business?”

There are several juggling acts going on here, apart from the millions of small businesspeople reconciling their accounts across the many services that have sprung up as an alternative to cash and plastic. The payment apps don’t make any money out of this activity because they all run on a shared public utility. What they get is data they can analyze to predict the creditworthiness of the small shops. It’s the banks that ultimately issue loans to these “thin-file” customers but fintech controls the flow of information — and gets remunerated by the lenders for finding creditworthy merchants. But why have the banks let fintech get between them and all these potential clients?Historically, depository institutions in emerging markets like India didn’t see much business in democratizing cashless payments. Card readers were costly pieces of hardware, and could only be deployed at shops that were well-established. These point-of-sales devices were also dumb: Even when the lenders got data about a store that was swiping a lot of cards issued by them, to advance money to a retailer based on that knowledge required multiple sales calls. It wasn’t worth the trouble then, and makes even less sense now that India’s digital revolution has put plastic in the shade. Credit and debit cards get swiped in two out of 10 transactions — usually for higher-value purchases and at bigger retailers.

But banks also fell behind in embracing payments on smartphones. They don’t have a tech DNA and the weight of their legacy infrastructure made their own online products clunky. Fintech, which was far nimbler and more willing to shower generous cash-backs at early adopters, jumped on the opportunity created by India’s six-year-old Unified Payments Interface. Using this highly popular, open-source protocol, mobile apps in India move funds in real time — using phone numbers for person-to-person transfers and QR codes to settle shopping bills. Nearly 2 billion such merchant transactions got done last month. The government mandates that all UPI transactions be free of charge.

Digital Beats Plastic | With nearly 2 billion smartphone-based payments to merchants in a month, India’s UPI, a shared digital utility, is far ahead of credit and debit cardsYou’d think the apps, looking for ways to make money from payments, would attack the banks’ deposit-taking franchise, then. They are, actually. BharatPe part-owns a bank and is thus in a position to lure retailers to switch their current accounts. Similarly, Alphabet Inc.’s Google Pay, the second-most-popular consumer wallet in India after Walmart Inc.-owned PhonePe, is using its sway to promote fixed deposits. If lenders lose control of both demand and time deposits, what’s even the point of their banking license?

Lending in a digital world is proving to be equally problematic. Banks aren’t intuitively geared to handle the unique requirements of small businesses. Suppose the salesperson for Unilever Plc’s local unit shows up at a store and says: “Since I have to meet my quarterly target, you can have another 5% discount if you pay upfront.” Traditional lenders’ internal processes are too slow to clear an immediate loan like that. What’s needed are pre-approved credit limits based on the borrower’s digital cash flows and innovative products like buy-now-pay-later — but for retailers. This is what banks have been missing out on. Now they want to reclaim the lost ground. But can they?

Perhaps. They’d have to come in as consolidators, leveraging the trust advantage they still have over fintech, which is hobbled by its own ubiquity. Because there are already so many apps on an average shopkeeper’s phone, each service obtains only a fragment of actual sales. “Nobody is getting enough data to offer meaningful financial services,” Khanduja says.

That’s why the former Visa Inc. executive, together with a couple of his colleagues, came up with the idea of Mintoak, a white-label merchant-payment platform for banks that can accept all digital payments as well as cash and cards. It produces a single report, leaving retailers free to run their business. Mintoak, which works with HDFC Bank Ltd. and State Bank of India, two of India’s largest lenders, earns a subscription fee and gets a cut on products that banks sell on the platform. HDFC Bank owns 5.2% of the startup.

India’s success in digital finance has inspired many emerging markets to design payments along similar lines, giving Mintoak a foothold in the Middle East and the prospect of its first client in Africa. “We want to reconnect banks with SMEs,” says Khanduja.

Payments aren’t the only way to tap small businesses. A vast chunk of the working capital retailers need is embedded in the inventory. This credit used to reach them informally via distributors of brands, but it’s increasingly being provided by e-commerce platforms like venture capital-backed Udaan and billionaire Mukesh Ambani’s JioMart app for neighborhood stores.

The U.K.-based Standard Chartered Plc has made an attempt to get into India’s business-to-business e-commerce with the hope of replicating the model in Kenya and other emerging markets. Most other banks, though, would rather stick to what they know. Luckily for them, none of the existing merchant-payment apps still has the revenue heft of a Block Inc. — formerly Square Inc. — in the U.S. Before a dominant player emerges in the fragmented market, India’s banks need to find their way back to the cash counter.

Google Pay Adds ‘Tap to Pay’ Feature for UPI Transactions

Google Pay can be safely termed as one of the most popular and easy-to-use apps for making UPI payments. Now, to further make things easier for you, Google Pay has introduced the “tap to pay” feature, which will save you the hassle of scanning QR codes in order to make UPI payments.

Google has collaborated with Pine Labs for the new “Tap to Pay” feature, and it will work with the Pine Labs POS (Point-of-Sale) machines and your NFC-enabled Android smartphones.

The new Google Pay feature will be similar to how you can tap your compatible cards on a POS machine to make payments, without typing in the PIN number. The difference is that you can now use the Google Pay app on your smartphone for this.

Sajith Sivanandan, Business Head Google Pay and Next Billion User initiatives, Google APAC, said, “Tap to Pay for UPI has profound implications for high traffic retail outlets, with queue management hassles poised to be greatly reduced, and taking digital payments at POS well beyond cards. We are very excited to bring this first-ever innovation to India, in collaboration with Pine Labs.“

For those who don’t know, Google Pay’s “Tap to Pay” was initially a pilot program, which was introduced at Reliance Retail. It is now reaching more merchants, including Starbucks.

In order to use “Tap to Pay,” you will simply have to tap your phone on the POS device, enter the UPI PIN when prompted to do so, and it’s done. The aim is to make the process much simpler and quicker.

One thing to note here is that for you to use this Google Pay feature, you should have an NFC-enabled Android smartphone. It might prove to be a drawback for many in India, considering NFC-enabled phones don’t usually fall in the budget price range. And well, this is the price segment that Indians rely on the most. Plus, there’s no word on when this feature will arrive for iOS users. We shall let you know once this happens. Meanwhile, do let us know your thoughts on the new “Tap to Pay” feature for UPI payments.

India’s Slice gears up to take on PhonePe and Google Pay with UPI support

A new player is preparing to enter India’s crowded and yet duopoly-sided UPI payments market.

Bengaluru-headquartered Slice, which became a unicorn late last year, plans to introduce UPI payments for its users within weeks, according to a source familiar with the matter.

The startup is currently testing the new payments method within the firm, said the source and screenshots obtained by TechCrunch. The startup appears to also be redesigning the app to make UPI transactions intuitively straight forward with a new in-app navigation flow, according to the screenshots.

Slice’s embrace of UPI, a payments protocol built by a coalition of banks, comes at an interesting time.

Walmart-backed PhonePe and Google Pay currently lead the charts with UPI payments – that have become the most popular way Indians transact online today – but a rule that is set to go into effect soon will force them to concede some market share.

National Payments Corporation of India, the governing body that oversees UPI ecosystem, is also working to push new changes that are positioned to create a level-field among UPI players.

It’s working on a feature, called digital mapper, that will allow users to send money to one another by just using their phone numbers instead of relying on virtual payment addresses.

The governing body also plans to standardize the merchant payments experience on its payments platform by showing all UPI options at the checkout.

The NPCI’s forthcoming plans have reignited interest from several industry players to revisit how they perceive its payments ecosystem. Indian conglomerate Tata Digital is also planning to launch support for UPI on its forthcoming app, multiple people familiar with the matter said.

Screenshots show that Slice is working on introducing its web3 digital identity platform and also redesigning the app, both of which are going to work in tandem with the upcoming UPI rollout.

For the younger startup, UPI support is part of a broader plan to make Slice the “super-app” for its younger demographic’s payments needs, the first source said. Slice founder and chief executive Rajan Bajaj confirmed that the startup plans to launch UPI in the “coming weeks” but declined to elaborate.

Slice has become one of the largest card-using firms in the country, bandying out about 400,000 cards a month, according to a person familiar with the startup’s internal figures. On top of the fast-growth of its card business, Slice has also expanded its offerings in the past one year by broadening its rewards and also launching a card built for the masses.

It has also been testing social and microtransaction features internally, screenshots seen by TechCrunch showed, and has publicly shared its intention to launch a web3 identity platform.

“It has become second nature for us to jump between identities whether we are online or offline. What if we stop and think about one ID that can be used everywhere and is fully controlled by you? Picture an ID that can be used to accept payments, do KYC, make investments, apply for a visa, rent a car or even create a unique link to all of your brand’s social presence online — without any censorship,” Bajaj wrote in a LinkedIn post last year.

Slice’s UPI offering will be the first product to adopt &ID. When users sign up for the UPI feature on Slice, the startup mints an NFT against their usernames.

The remarkable growth and aggressive plans of Slice — which is backed by Tiger Global, Insight Partners and Blume Ventures — also explains the interest it has garnered from investors. The startup is in advanced stages of talks to close a new funding round that is set to more than double its valuation since the November financing round last year, the source said.

A set of new investors are positioning to lead the round, but TechCrunch could not determine their identity. Bajaj declined to comment on the startup’s fundraising efforts.

How to use UPI without Internet or App

India is on the road to a cashless economy. A year of demonization has led people to opt for cashless transactions, partly due to a two-year pandemic. Previously, UPI payments could only be made from smartphones, and feature phone owners still had to choose cash mode. That should change now. The Reserve Bank of India launched the UPI payment feature earlier this month, allowing people in rural India who own feature phones to make UPI transactions. “UPI 123PAY is an instant payment system that enables feature phone users to securely use Unified Payments Interface (UPI) payment services.

UPI 123PAY allows feature phone users to perform different transactions based on four technology choices. This includes calling IVR (Interactive Voice Response) numbers, feature phone app features, missed call approaches, and nearby voice-based payments, “said the official Indian National Payment Authority. Explained on the website.
This new feature, called UPI123PAY, provides IVR numbers, feature phone app features, missed call-based transactions, and voice-based payment payments.
No internet is required to use this feature. There is also a 24/7 central bank hotline for digital payments called DigiSaathi.

Read below to learn how to use the missed call payment feature of the app. This feature is intended not only for feature phone users, but also for smartphone users when the internet connection is lost.

Step 1: Forward the missed call to the number displayed on the retail store’s POS.

Step 2: After receiving the IVR call, confirm the transfer.

Step 3: Enter the amount to transfer.

Step 4: Enter your UPI PIN and the transfer will take place.

click here to know how to generate payment links