Payment Systems in India
Tags :
RBI , Payment Systems, RTGS, NEFT, NECS, Cheque Truncation Systems, Clearing & Settlement systems, Financial Inclusion, Customer Service, Financial Frauds, Cyber Security, Internet Banking, Mobile Banking & Payments, M commerce, ATMs, Card Payments, India, Bank
Industry :
Banking
Functional Area : Growth, New Technologies |
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About "Payment Systems in India" topic:
India is an immense and extremely unique market with a nascent payments industry that seems solidly poised for dramatic growth. We still require a safe and efficient payment system in India.
In this topic let us discuss on how payment systems can have Smooth functioning which can become vital in the light of inter-linkages they have with other financial systems and can be a real source of competitive advantage and consistent profitability for banks.
In this topic let us discuss on how payment systems can have Smooth functioning which can become vital in the light of inter-linkages they have with other financial systems and can be a real source of competitive advantage and consistent profitability for banks.
4 debates
, 9 idea contests
on topic: "Payment Systems in India"
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(rate this)
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Yes
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24
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VS |
20
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No
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Harender Singh
| Argues in support of
"Yes"
| 2 years ago
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Eko India Financial Services Private Limited provides Eko, a technology solution for banks to offer mobile banking services in India. Its solution provides peer-to-peer money transfers, cash deposits and withdrawal, wage and salary payments,...
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R N Bhattacharyya
| Argues in support of
"No"
| 2 years ago
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Opposition against the Mobile banking by RBI is just to protect the interest of the Bank customers.If a full proof system is generated by any Bank for Mobile banking,then no questain of oppositions.
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Swati Raut
| Argues in support of
"No"
| 3 years ago
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I don't think this is the right move by RBI, and mobile banking would have made more people come under the banking system umbrella, the only concern here was the authenticity of the transactions that would be hard to track, but then with TRAI and...
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Debate: "RBI opposes mobile banking: Is it a right move?" deleted from your view.
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(rate this)
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1
e-payment and m-payment only
2
Facilitating more Cheque Truncation Clearing Centres
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manoj
| Added idea
"particular places"
| 3 years ago
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By the arrangement of care centres at the particular places n that particular place
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jaideep khanduja
| Added idea
"e-payment and m-payment only"
| 3 years ago
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even a street vegetable vendor and a rickshaw puller are having mobile these days. stop all physical bank movements and wasting public's time. promote only e-payments and m-payments that will definitely make life easier for public. and the...
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Ideate: "How can the efficiency of the payment systems in India improved ?" deleted from your view.
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(rate this)
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Yes
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10
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VS |
7
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No
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Prangya Pradeep Mohanty
| Argues in support of
"Yes"
| 2 years ago
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M shop facilities provided by the bank is relay a nice feature it will not only save your time but also protecting the country economy from fake & duplicate currency network but it is only effective if total security is provided to the consumer....
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SHRIKANT MANOHAR DANKE
| Argues in support of
"No"
| 2 years ago
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It will not for coming 10 years, after that it might take a new height.
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Dinesh Agarwal
| Argues in support of
"Yes"
| 3 years ago
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What we are seeing through SBI is just tip of the iceberg. M shopping is going to spread just like mobiles. This will further eliminate use of credit/debit cards/cash, personal visits and transaction delays. It offers a huge opportunity in...
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Debate: "Mshop facilities introduced by the banks: Will it be a success?" deleted from your view.
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(rate this)
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1
Cards based systems
2
Electronic funds transfer systems
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SHRIKANT MANOHAR DANKE
| Supported idea
"Electronic funds transfer systems"
| 2 years ago
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Yes, it is needed badly by customers.
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Sridhar S
| Added idea
"Push payment mobile system..."
| 2 years ago
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The usage of mobile phones is growing high in the market place and it is used by all categories of people. With proper regulations, banks can offer their customers with ‘PUSH PAYMENT FACILITY’ similar to push talk feature.
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Suraj kumar
| Supported idea
"Cards based systems"
| 3 years ago
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Yes, Card System is been so easy and less time consuming factor and it would reduce the paper work in the financial institute.
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Ideate: "What facilities can banks give to customers for payments ?" deleted from your view.
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(rate this)
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1
Mobile and e-money payment
2
Payments will be based on biometrics
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Swati Raut
| Added idea
"Payments will be based on biometrics"
| 3 years ago
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I believe, in coming days bank accounts will be accessible through some biometric identification method. That can be either a fingerprint or retina scan or maybe some kind of DNA scan. It will be far more secure than anything we're using right now.
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Rashmi Chawla
| Added idea
"Mobile and e-money payment"
| 3 years ago
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This is new payment facility available which helps to make purchases easier and more fun for customers, and allow the introduction of modern mobile phone based customer relationship management (CRM) systems.
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Ideate: "What will be the future of payment Systems in India? " deleted from your view.
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(rate this)
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1
Mechanisation of electronic payment via. ECS,EFTS
2
Instruct Banks to function centrally
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Esha Johar
| Added idea
"Work as an User in payment system"
| 3 years ago
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Besides operating the various components of payments systems, RBI should also participates in these systems as a user. RBI acts as a service provider and after the system stabilises, the responsibility is handed over to other banks / institutions...
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Dayanand Deshpande
| Added idea
"Mechanisation of electronic payment via. ECS,EFTS"
| 3 years ago
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The process of infrastructure building should start with the mechanisation of cheque clearing operations. For this RBI has introduce MICR based clearing at the four metros cities and thereafter should be covering the other important centers....
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Ideate: "What should be the role of RBI in retail payment arena?" deleted from your view.
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(rate this)
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1
Changing to High secured and same netting systems
2
Changing the system into national level
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Esha Johar
| Added idea
"Changing the system into national level"
| 3 years ago
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In my opinion, all Payment and Settlement Services should be made available on a national level ie., National ECS, National EFT and National CTS. By implementating National Settlement System for posting the net position of the clearing...
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Archana Singh
| Added idea
"Changing to High secured and same netting systems"
| 3 years ago
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There are a few large value payment systems functioning in the country. These are the Inter-Bank Cheques Clearing Systems (the Inter-bank Clearing), the High Value Cheques Clearing System (the High Value Clearing), the Government Securities...
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Ideate: "What are the risk mitigation strategies in payment systems?" deleted from your view.
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(rate this)
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1
Provide ATM Cards
2
Improve the availability of new delivery channels
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Rashmi Chawla
| Added idea
"Increasing the reach of payment services"
| 3 years ago
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In my view, by means of tie up and collaboration with other large coverage entities such as the PostOffices and also facilitating large scale deployment and use of multi application smart cards which would also be used for storage and transfer of...
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Rajyalakshmi K
| Added idea
"Provide ATM Cards"
| 3 years ago
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I think, the rural folk must be made aware for the ATM facilities and also provide support for new modes of traditional facilities such as ATM based Kisan cards etc.
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Ideate: "How can the Payment systems faciliated in rural sector?" deleted from your view.
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(rate this)
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Yes
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1
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VS |
0
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No
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Mahadeva Sreenivasan
| Argues in support of
"Yes"
| 3 years ago
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Is indian banks still living in olden days and does not offer facility of notifying customer cheques as good for payment
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Debate: "Bankers Cheque a low cost option against DD/Direct Cash " deleted from your view.
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(rate this)
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1
Have a direct control
2
Provide a dispute mechanism for elctronic payments
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SHRIKANT MANOHAR DANKE
| Supported idea
"Have a direct control"
| 2 years ago
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If it is going to happened in coming future then it will be a great news for users.
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Ekta Dutta
| Added idea
"Provide a dispute mechanism for elctronic payments"
| 3 years ago
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In my view, at present, there is little regulation to tackle bouncing of electronic payments, as there is for bouncing of cheques. CCIL, the large-value electronic payments solution provider which facilitates inter-bank overnight borrowing and...
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Ideate: "How should RBI regulate the payment and settlement service providers like MasterCard, Visa and Western Union?" deleted from your view.
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