Jithu T.

National Payments Corporation Of India (NPCI) is spreading its wings fast in #UAE 🚀🚀🚀 Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, in partnership with NPCI International Payments Ltd. (NIPL), has enabled the acceptance of QR code-based Unified Payments Interface (UPI) payments across Network’s point-of-sale (POS) terminals in the UAE. The initiative will facilitate seamless transactions for Indian tourists across Network International’s vast merchant network in the UAE. Network has over 200,000 POS terminals across 60,000+ merchants in sectors including retail, hospitality, transport, and supermarkets among others. UPI acceptance will be rolled out progressively, covering a wide range of establishments from retail stores and dining outlets, as well as tourist and leisure attractions including Dubai Mall and Mall of the Emirates. The collaboration between Network and NIPL, the international arm of National Payments Corporation of India (NPCI), aligns with the UAE’s vision to strengthen its position as one of the world’s most popular tourist destinations and a global hub for commerce and businesses. The number of Indian tourists travelling to the Gulf Cooperation Council (GCC) countries is projected to reach 9.8 million in 2024, with the UAE anticipating 5.29 million arrivals from India. This growth is driven by various factors including business, place of work and leisure travel. 1 UPI is India’s largest instant payments system with over 350 million active users, and it processed 14.04 billion transactions in May 2024 alone. By enabling UPI acceptance through its POS terminals, Network will provide a QR-based safe and secure method for facilitating cross-border payments. This will allow Indian tourists and NRIs with Indian bank accounts to use UPI for payments across Network’s POS terminals in the UAE. https://lnkd.in/divXgTm7

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A new form of biometric payment is emerging in the UAE called Palm Payment. Soon you'll be able to pay with a swipe of your hand at selected merchants. To use this method, you will need to register your palm on the palm scanner at the designated merchant store and link it to your credit card. The scanner will capture the lines on your palm and vein pattern. An algorithm will then associate a unique palm signature for you. Subsequently when you use your palm at a supporting merchant the POS will trigger an authorization using your card details. This technology joins other biometric payment methods we’ve seen so far like facial and fingerprint payments. Each uses a different authentication process and user interaction. The choice of payment will depend on user preference and merchant capabilities. In all cases, these biometric payments will improve efficiency and user experience. For people who worry about phone battery issues, or tend to forget their cards they won’t have to remember to bring their palm! #PalmPayment, #BiometricPayments

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The UAE and India's collaboration on Jaywan marks a significant step towards a more integrated financial landscape. This innovative card streamlines cross-border transactions, promotes real-time settlements, and fosters economic growth. #DigitalPayments #UAEIndiaRelations #Innovation

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Come experience the payments platform that does it all at Seamless Middle East & Saudi Arabia

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Data-security (and consequently mitigation of transaction fraud risk) while also factoring AML and TF mitigation is ultimately the life-breath of the transactions/payments/funds-movement ecosystem. A fool-proof regulatory framework (with regular checks-and-balances) should go hand-in-hand with the exponentially evolving related tech landscape.

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As I look back at the achievements that the PayU team showcased at the Global Fintech Fest, I couldn't be more proud of the hard work and dedication shown by all the Payuneers over the last few months. A big shout out to our partners who have supported us and collaborated with us throughout this journey. Here is a quick summary of what we announced in this GFF 1. Push Provisioning: We remain the first and so far the only player to support push provisioning across 4 major networks and have worked in banks for issuer tokens as well. - https://lnkd.in/gSPm9Naf 2. Subscription Suite: We launched the first truly interoperable subscription platform for the ecosystem in collaboration with Mastercard.  Read more about this here. With this solution the mandate creation and execution can happen through the normal payment rails. https://lnkd.in/gszYBzEu 3. PayU Flash Pay: So far we are the only aggregator who have taken the lead in launching a Multi factor authentication solution for payment processing based on the recent RBI guidelines The future of the cards payment is here. 4. We were also the launch partners for Mastercard’s passkey launch in India. https://lnkd.in/gPvPXQdm   5. Cross border issuer solution: So far no one has addressed the pain of the Indian card holders trying to shop on global merchants. PayU partnered with Mastercard to launch the first solution of its kind to help the consumers shop seamlessly. https://lnkd.in/gYhZnkcx 6. Our team partner with Amazon Pay Later to offer instant digital credit to online shoppers. https://lnkd.in/gZyh_tMz As our honourable PM urged Fintechs to focus on curbing fraud, PayU again stood out with its commitment to this cause 7. PayU Protect Plus that was unveiled on stage, is our new advanced fraud and risk management system for our partners that addresses a vast spectrum of fraud / abuse scenarios such as transaction fraud, chargeback risk, buyer protection and RTO abuse. 8. Keeping up with the risk theme, we also partnered with Mastercard to introduce their Brighterion AI fraud detection solution in India. https://lnkd.in/gcBRdEjy In our commitment to help our partners grow their business, we launched 3 products that help them acquire and retain users and takes care of the complexities that comes with the scale 9. PayU Prepaid Edge is the platform built on top of our PPI issuance stack that helps merchants acquire customers and build loyalty 10. PayU Maxmizer helps merchants seamlessly work with multiple payment aggregators and route traffic between them 11. ReconX products solves the operational headache of trying to reconcile data between multiple systems Given the vast scope of the work done here, it’s near impossible for me to individually tag and thank everyone who were instrumental in making it happen. Hence again expressing my gratitude to all Payuneers and our partners for their effort and support.

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I am seeing a new trend in market of A2A payment being renamed to - pay by bank. It’s really cool and makes a bigger impact and connect to audience of all types!! There is no way stopping of A2A payments as most imp use case of open banking no matter what name sells in market.

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The UAE is launching their own domestic card scheme called Jaywan. So why it’s important to have our own domestic card scheme (and replace the international schemes i.e. Visa, MasterCard, etc) ? First let’s look at some of the key roles of the international card schemes to better understand why this initiative is important : - They facilitate the processing of transactions between merchants<-> Acquiring banks <-> Issuing banks - They regulate the market, set rules and guidelines - They charge interchange fees to cover their cost - They facilitate the dispute process between cardholders (and their issuing banks), and merchants (and their acquiring banks) By introducing a domestic card scheme (Jaywan), the UAE will be reducing dependency on the international card schemes. - We will have more control over our own transaction rules and regulations. So less reliance on international regulations, geopolitical tension etc - We will set our own rules for card issuance, transaction processing, fees etc - We will lower transaction costs as international schemes charge for cross border transactions - We will have security and data protection in line with our own local laws and regulations   This initiative represents an important step towards enhancing financial independence. #Jaywan

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The world of payments is undergoing a rapid transformation, with new technologies and methods emerging all the time. This is driven by factors like growing demand for faster & more convenient #payment options. #visa #creditCard

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When it comes to Innovation, No one is coming close to what Indian Fintech are doing. And pioneer of which are National Payments Corporation Of India (NPCI) Just experienced their UPI offline Payment flow. And how smooth one flow can be. 1. Easily registered through phone 2. Voice over commands enabled the process more friendly 3. Fetching the bank account and linked UPI over call is an amazing experience itself. 4. Said the mobile number and gave confirmation 5. And Boom Payment done. This is the starting phase of India, lot to do in this. Would like to know what other innovation in FinTech is happening all across the globe. Link - https://lnkd.in/dkzMh7qi

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Truly engaging and insightful experience at 𝗟𝗲𝗮𝗱𝗲𝗿𝘀 𝗶𝗻 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟰 organized by MEAFinance in Dubai. 🤝 The thrill and energy at the event spoke nothing but a zeal to transform payments and accelerate growth. Sharing some insights and learnings from the conference –  🚀 Instant Payments is a revolutionary step towards transforming payments and building a cashless economy. UAE is set to witness this with the recent launch of Aani and Jaywan. Increasing the adoption and reach of Aani to the unbanked and underbanked segments will be crucial for its success. Also, will be interesting to see the trajectory of expansion from consumer to corporate use cases. 🌎 Cross-border connectivity and interoperability of instant payments schemes of different countries is the next big thing that will help unlock economic growth. BUNA is particularly trying to address the complexities to build a secure, economical, transparent and compliant cross-border payments system. 💡 Front-end innovation will be critical to elevate payments experience and make payments invisible, seamless and frictionless. “Every service that a customer wants must be on mobile”, statement from the Director General of UAE Banks Federation, depicts the need to deliver a customer centric and secure payments experience. 🔗 Competition or Collaboration: an eternal debate between banks and fintech. No economy can innovate without a healthy competitive dynamic. Regulator will play a pivotal role in fostering a collaborative ecosystem between banks and fintech for innovation to thrive. Partnerships between banks and fintech will lead to stronger customer value propositions, accelerate speed to market and build sustainable and scalable business models. 👾 AI is talk of the town and it’s here to stay. Organizations are embracing the change and acknowledging the potential that AI has. Leaders acknowledge the need to be cognizant of downside risks and therefore investing in building robust risk controls. Use cases of AI such as Fraud and Safety in Payments and particularly Authorized Push Payment Fraud are gaining momentum. It is “the best time” to be in Payments 🙂 #Payments #Innovation #Fintech #LeadersinPayments

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Check out our latest podcast: Financial Management Beyond Banking in the Middle East Listen here: https://lnkd.in/gcXe2vfm Discover how to navigate the complex financial landscape in the Middle East. #podcast #finance #MiddleEast #financialmanagement Let us know your thoughts in the comments!

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Merchants can implement several effective strategies to prevent card failures Debasish Das Ramakant Das Praveen Solanki iServeU Picxele™ Trukky FastFlowPe™ #bluSwap #FastFlowPe #PaymentGateway #CardDecline #CardFailure #Tips

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The Rise of Real-Time Payments ⚡ Instant gratification is becoming the norm, even in payments! Real-time payment systems are gaining popularity. Allowing businesses and consumers to send and receive money instantly. This is transforming the way we transact. Offering greater convenience and efficiency. 🚀 #RealTimePayments #InstantPayments #Fintech #Speed

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Boost Efficiency and Save Costs with Justt's New Accept Chargeback Feature At justt, while we typically fight illegitimate chargebacks, there are valid reasons to accept them early. The primary reason is to avoid additional fees from card schemes like Visa when acquiring banks respond late. These fees can be passed on to merchants by the acquiring bank or PSP, so accepting chargebacks promptly can help avoid such costs. We’re very excited to introduce our new Accept Chargeback feature, which empowers merchants to take full control of their chargeback management process, with the flexibility to choose between manual and automated decisions. How it works: * Automated or manual decisions: Choose to automatically accept or fight chargebacks based on pre-set rules, or handle them manually when necessary. * Customizable workflows: Set criteria based on transaction size, reason codes, or data points to streamline your chargeback process. * Save time & effort: No need to log into multiple PSPs to manage chargebacks – Justt’s feature centralizes everything, making it easier to manage disputes across all your providers. With Justt’s Accept Chargeback feature, you can save time, reduce costs, and ensure smarter decisions without the hassle of logging into different PSPs. Learn more about how this feature can benefit your business: https://lnkd.in/ei8RVggZ. Want to chat directly? Schedule a call with me here: https://lnkd.in/en3hsRkg #chargebacks #payments #ecommerce #fintech #onlinepayments #fraud

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