{"id":44,"date":"2017-06-19T10:58:27","date_gmt":"2017-06-19T10:58:27","guid":{"rendered":"http:\/\/cleuz.in\/blog\/?p=44"},"modified":"2025-03-06T12:22:13","modified_gmt":"2025-03-06T06:52:13","slug":"cleuz-connect-newsletter-mar-2017","status":"publish","type":"post","link":"https:\/\/cleuz.com\/blog\/newsletter\/cleuz-connect-newsletter-mar-2017\/","title":{"rendered":"Cleuz Connect \u2013 Release 2"},"content":{"rendered":"\n\n\n
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Newsletter: March 2017<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Financial Institutions & Banks<\/u><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Adopt Tech and be Agile, Else Become History: Mundra to Banks<\/strong><\/h1>\n

Reserve Bank deputy governor SS Mundra today warned that unless traditional banks quickly convert themselves in to a new-age digital banks, they face the risk of becoming history. He said, \u201cThe age of fintechs is here and for the incumbent banks there is no time to lose. Banks that do not quickly convert in to a new-age digital banks run the risk of becoming history.\u201d Read More<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n

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SBI Ties up With Greenply to Offer Financial Services to its Dealers<\/strong><\/h1>\n

State Bank of India has announced a tie-up with Greenply Industries to grow its channel financing business. This deal allows SBI to take yet another step in growing its digital banking footprint. SBI is planning to create a digital-only bank platform to allow transactions to be done with the help of apps, internet banking and mobile banking. Read More<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Payments & Payment Banks<\/u><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Airtel Payments Bank to Sell Insurance, MF Products<\/strong><\/h1>\n

Airtel Payments Bank (APB) is planning to sell third party financial products to boost its revenue from other income category. MD and CEO of APB Shahshi Arora said, “we plan to sell insurance and MF products through our network in near future. After that, we will also offer loan products of other entities like NBFCs as we are not allowed to do lending directly”. Starting operations few months ago, the bank had already opened 2.5 lakh banking points across the nation with a total customer base of two million spread across geographies. Read More<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Banking on Aadhaar without Bank Accounts via IndiaPost Payments Bank can be a Real Game-Changer<\/strong><\/h1>\n

Aadhaar-based transactions by people even without a bank account through the IndiaPost payments bank\u2019s Aadhaar-pay model could be the real game-changer. This is what IndiaPost payments bank is striving to establish as its basic model once it starts operations in the next few months. According to its CEO A P Singh this can change the face of financial transaction in the country, especially in the rural areas where post offices can play a big role in promoting financial inclusion and handling direct benefit transfers (DBT), which is still around Rs 50,000 crore in a year. Read More<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Government allocates Rs 500 crore to India Post Payments Bank for financial-year 2017-18<\/strong><\/h1>\n

Government has allocated Rs 500 crore to India Post Payments Bank for financial year 2017-18 as it gears up to set up 650 branches across country by September 2017. Government has allocated Rs 125 crore as “capital infusion into corporate entity for India Post Payments Bank” and Rs 375 crore as “grant in aid to India Post Payments Bank (IPPB)”, as per Output-Outcome Framework for Schemes 2017-18 for the Department of Posts . Read More<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Mobile Payments to Overtake Physical Card Spends in 2017<\/strong><\/h1>\n

Mobile and digital payments will overtake physical card payments as the predominant non-cash payment mode in India in 2017, driven by demonetization. The possibility has been expressed by Deloitte India in its report titled \u2018Technology, Media and Telecommunications (TMT) Predictions 2017\u2019.\u00a0 According to the report, Demonetisation has forced a behavioural change in the Indian consumer. While FinTechs used the \u2018carrot\u2019 approach to entice customers to switch behaviour and adopt digital payments, demonetisation employs a more draconian \u2018stick\u2019 approach, which may prove to be more effective. Read More<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Digital Payments Industry to Hit $500 Bn by 2020: GSMA-BCG<\/strong><\/h1>\n

BCG Research has reported that Digital payments industry in India is expected to reach USD 500 billion by 2020, with over 50% of Internet users in the country will be using it by then. BCG estimates that in India, digital technologies will influence up to 45 percent of all retail sales by 2025. Read More<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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American Express Introduces New Payment Method for Digital Vendor Payments<\/strong><\/h1>\n

American Express, a global payment solutions provider, announced the launch of Buyer Initiated Payments (BIP), an electronic payment platform linked to Corporate Card that reduces processing costs and offers extended payment terms compared to traditional invoice payments. BIP enables companies to increase the Days Payable Outstanding (DPO) while still paying vendors on time. Read More<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Oracle and Mastercard to Deliver Seamless Payments<\/strong><\/h1>\n

At Mobile World Congress, Mastercard today announced a global partnership with Oracle that is designed to deliver a streamlined digital payment experience to the retail and hospitality industries. The partnership will initially focus on three needs for restaurants, hotels and retail stores:<\/p>\n