Tata Group has applied for the NUE licence through its subsidiary Ferbine Payments. It will own 40% in the entity while Airtel Digital, Mastercard and Nabard will hold 10% each.
New Delhi: A Tata Sons-backed retail payment entity is working on a mobile phone-based universal point of sale (PoS) system that will be interoperable across all payment operators. It is also readying a universal payments ID that could potentially replace all thumbprint-backed transactions in the country, the Economic Times mentioned in a report.
The New Umbrella Entity (NUE) consortium, which includes bulge bracket partners such as HDFC Bank, Kotak Mahindra Bank, Airtel and Flipkart, also plans to harness the last-mile business correspondent (BC) network, estimated to be around 10 lakh, and offer modern transaction services across semi-rural and rural India.
“The plan is to build a universal payments ID for every Indian that would completely do away with the need of Aadhaar readers,” an official involved with the business plan told ET. “The plan is to have one universal PoS where a merchant can accept payments on any phone. There must be solutions beyond the smartphone for the rural customers; in my mind, UPI is still complex for them,” he added.
The Unified Payments Interface (UPI) has helped achieve the government’s objective of reducing the use of currency notes in small-value transactions.
Aadhaar-based payment options are significantly popular in rural areas. In just one year, such transactions nearly doubled to Rs 21,978 crore at the end of January from Rs 11,286 crore the same period last year, data with the National Payments Corporation of India (NPCI) showed.
The consortium also has plans to build sound-based payments solutions for those who don’t own a smartphone.
“For small-value payments where a merchant and customer only have feature phones we are looking at sound-based payments. We have plans to build more modern products for rural customers, using the BC network,” the business daily quoted another person in the know as saying. “There are large greenfield areas of innovation; if those are captured, we could digitise 60% of India’s payments. We don’t want to be a replica of NPCI.”
Worth mentioning here is that Tata Group has applied for the NUE licence through its subsidiary Ferbine Payments. It will own 40% in the entity while Airtel Digital, Mastercard and Nabard will hold 10% each. Flipkart, through its subsidiary Flip-Pay, and Naspers-backed PayU will own about 5% each in the Tata entity. HDFC Bank and Kotak Mahindra Bank will hold 9.99% each in Ferbine.
If it gets RBI’s nod, Ferbine may build a pan-India payment network similar to UPI for a settlement mechanism for ecommerce and online retail transactions.
Experts say innovation in the card-based payment systems could further increase penetration of digital transactions in the country where until a few years ago, cash was, practically, the only currency.
36 comments
Полностью стильные новинки мировых подиумов.
Важные новости всемирных подуимов.
Модные дома, бренды, haute couture.
Самое лучшее место для трендовых хайпбистов.
https://sneakersgo.ru/
Hi there! Would you mind if I share your blog with my zynga group? There’s a lot of folks that I think would really enjoy your content. Please let me know. Many thanks
Trending wristwatch news and events. Latest collections, models. All news about cult watch companies.
https://chrono.luxepodium.com/
Excellent post. I was checking constantly this blog and I’m impressed! Very useful information particularly the last part 🙂 I care for such information a lot. I was seeking this particular info for a very long time. Thank you and good luck.
Youre so cool! I dont suppose Ive learn something like this before. So nice to find someone with some original ideas on this subject. realy thank you for starting this up. this web site is one thing that’s wanted on the internet, someone with slightly originality. useful job for bringing something new to the internet!
I?¦ll immediately grab your rss feed as I can not in finding your e-mail subscription hyperlink or e-newsletter service. Do you’ve any? Please let me recognise so that I may subscribe. Thanks.
I want foregathering utile information , this post has got me even more info! .
I consider something genuinely special in this site.
Fantastic beat ! I would like to apprentice while you amend your web site, how could i subscribe for a blog website? The account helped me a acceptable deal. I had been a little bit acquainted of this your broadcast provided bright clear concept
Nice weblog here! Additionally your website quite a bit up fast! What web host are you using? Can I am getting your affiliate hyperlink in your host? I want my website loaded up as fast as yours lol
Good day! I could have sworn I’ve been to this website before but after browsing through some of the post I realized it’s new to me. Anyways, I’m definitely delighted I found it and I’ll be book-marking and checking back often!
Lottery Defeater Software: What is it? Lottery Defeater Software is a completely automated plug-and-play lottery-winning software. The Lottery Defeater software was developed by Kenneth.
What Is LeanBiome?LeanBiome is a natural weight loss supplement that reverses bacterial imbalance in your gut microbiome with the help of nine science-backed lean bacteria species with Greenselect Phytosome, a caffeine-free green tea extract crafted with patented
Hello there, You’ve performed a great job. I’ll certainly digg it and for my part suggest to my friends. I am sure they will be benefited from this website.
Hi! This is kind of off topic but I need some help from an established blog. Is it tough to set up your own blog? I’m not very techincal but I can figure things out pretty fast. I’m thinking about creating my own but I’m not sure where to begin. Do you have any points or suggestions? Appreciate it
Good info and right to the point. I am not sure if this is truly the best place to ask but do you guys have any ideea where to get some professional writers? Thx 🙂
Generally I do not learn article on blogs, however I wish to say that this write-up very forced me to check out and do it! Your writing style has been surprised me. Thank you, very nice post.
Hello there! Do you know if they make any plugins to assist with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good results. If you know of any please share. Appreciate it!
you have got a fantastic weblog here! would you prefer to make some invite posts on my blog?
Really clear web site, appreciate it for this post.
Very interesting points you have observed, appreciate it for putting up.
Perfectly indited written content, Really enjoyed looking through.
I really like your writing style, great information, thanks for posting :D. “He wrapped himself in quotations- as a beggar would enfold himself in the purple of Emperors.” by Rudyard Kipling.
There are some attention-grabbing points in time on this article however I don’t know if I see all of them heart to heart. There’s some validity but I’ll take hold opinion till I look into it further. Good article , thanks and we would like extra! Added to FeedBurner as properly
I’m really impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you customize it yourself? Anyway keep up the nice quality writing, it is rare to see a great blog like this one today..
Hi my friend! I want to say that this post is awesome, nice written and include almost all significant infos. I’d like to see more posts like this.
I’ve been browsing on-line greater than 3 hours these days, yet I by no means discovered any fascinating article like yours. It is pretty price enough for me. In my opinion, if all website owners and bloggers made good content as you probably did, the net will be much more useful than ever before.
This is a topic close to my heart cheers, where are your contact details though?
Saved as a favorite, I really like your blog!
Keep up the wonderful work, I read few blog posts on this site and I conceive that your website is very interesting and has circles of fantastic information.
What’s Happening i am new to this, I stumbled upon this I have found It positively helpful and it has helped me out loads. I hope to contribute & assist other users like its aided me. Great job.
Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.
I’m impressed, I must say. Actually not often do I encounter a blog that’s both educative and entertaining, and let me tell you, you have got hit the nail on the head. Your thought is outstanding; the problem is one thing that not sufficient individuals are speaking intelligently about. I am very completely satisfied that I stumbled throughout this in my search for one thing relating to this.
Модные заметки по выбору превосходных образов на каждый день.
Статьи экспертов, новости, все коллекции и мероприятия.
https://moismi.ru/info/704-kak-otlichit-originalnuyu-veshch-balmain-ot-poddelki-osnovnye-sovety/
Фирменный интернет-магазин Боттега Венета предлагает разнообразие оригинальной продукции от легендарного бренда. На сайте вы сможете выбрать и приобрести аксессуары из последней коллекции с удобной доставкой по всей стране.
Новая коллекция Bottega Veneta
You are my breathing in, I possess few blogs and very sporadically run out from to brand : (.