India’s Navi Mumbai Municipal Corporation (NMMC), held a Smart Banking Connect conference for seeking avenues for smart banking for the citizens. An idea of a smart mobile application and a smart NMMC card for payment of water, electricity, property bills etc from one point was discussed.
Visa announced the opening of a new technology development center in Bangalore, India, that will play a central role in the company’s efforts to accelerate digital commerce globally.
India’s HDFC Bank, has intoduced its one-click payment platform called PayZapp, as part of its ‘GoDigital’ strategy.
ICICI Bank has teamed with Tech Mahindra to launch its ‘Tap n Pay’ contactless payment service in India. The new Near Field Communications (NFC) feature is a prepaid account available to customers of any bank by simply registering for it and transferring money online from any bank account. It requires no documentation or branch visit.
India’s Financial Software and Systems has inked a deal with Entrust Datacard for instant, in-branch card issuance solutions to support various social security and financial inclusion initiatives.
CardWeb.com’s CardData Reports today features the The Cards and Payments Industry in India: Emerging Trends and Opportunities to 2019 report. The report provides values and volumes of a number of key performance indicators (KPIs) operating in the industry, including credit transfers, check payments, cash transactions, payment cards and direct debits during the review period (2010-2014).
American Express reported fourth-quarter consolidated total revenues net of interest expense rose to $9.1 billion from $8.5 billion a year ago, up 7% (9% when adjusted for foreign currency translations). The revenue increase primarily reflected the previously reported gain of $719 million ($453 million after-tax) on the sale of the company’s investment in Concur Technologies. The increase also reflected a rise in cardholder spending and higher net interest income.
India’s ICICI Bank launched ‘Pockets by ICICI Bank’ app allowing NRI customers to access their bank accounts on Facebook. Tapping the convenience of banking while on social media, customers can carry out important tasks through this app which include viewing account summary, E-statement as well as a mini statement of ICICI Bank India NRE/ NRO savings bank account. A customer can access the application by logging in with his Facebook user ID and searching for ‘Pockets by ICICI Bank’. He/she will have to register for the app to activate and start using it.
ICICI Bank Canada announced the launch of ICICI Bank Mobile Banking, offering customers a secure and convenient way to bank on the go. With ICICI Bank Mobile Banking, customers can view their account summary, pay bills or transfer money between accounts, check current rates and charges, locate ICICI Bank Canada and THE EXCHANGE® Network ABMs and find ICICI Bank Canada branch locations and hours. The ICICI Bank Mobile Banking app is available as a free download on iPhone and Android devices.
ICICI Bank launched its combo prepaid card in association with the Uttar Pradesh State Road Transport Corporation (UPSRTC). The card was launched and co-branded by UPSRTC, offering dual benefits of a travel card as well as a shopping card on a single card. This first-of-its-kind pre-paid card offers users the convenience of not having to pay cash for buying tickets for every trip undertaken on a UPSRTC bus or buying paper passes for monthly or quarterly season tickets. In addition to this, customers can use this same card to shop online as well as at stores. This features Ease of travel on UPSRTC buses, wider acceptability at all VISA POS retail shops, malls and websites for cash-less shopping, no requirement of minimum balance on the shopping card, no need to open a bank account to avail shopping card benefits and secured use.
There were many major developments for the Visa brand outside the U.S. last year, including Mexico, Botswana, Spain, Myanmar, Singapore, Australia, India, Czech Republic, Germany, Poland, and the U.K., to name a few. Here are the items organized by region.
ICICI Bank UK announced the launch of a HiSAVE Remittance Account – an online savings account designed specifically for money transfers to India. HiSAVE is ICICI Bank UK PLC’s award winning range of online savings accounts and the new HiSAVE Remittance Account now joins this portfolio. This easy-access account offers the dual-benefit of far more convenient money transfers to India along with the opportunity to earn interest on the balance maintained. HiSAVE Remittance Account holders will earn 1.50% interest on any balance maintained in the account. They will also have the option to set a “Rate Block” on transfers to India, which means that customers can set a minimum exchange rate at which to transfer and ICICI Bank will ensure that money is sent only at that exchange rate or higher.