Official Blog of GTM360 Marketing Solutions
Dear Editor of Economic Times: This has reference to the twin op-ed entitled “IT GIVES THE CREEPS” by Ateesh Tankha and Mythili Bhusnurmath in today’s edition of The Economic Times. This article reminds me of similar opinions expressed on these very pages in the 1990s regarding equity. Despite all the doomsday prophecies made by pundits … Read more
Reserve Bank of India brought Emandate into force on 1 October 2021. As we saw in RBI Emandate: Revenue Killer Or Consumer Interest Savior?, this regulation impacts recurring payments and auto debits (“Standing Instructions”) set up with credit card and debit card. This was after a postponement of six 24* months at the behest of … Read more
After being postponed by six months, RBI Emandate has finally come into effect from 1 October 2021. Applicable to recurring payments and auto debits, the new regulation has caused massive chaos for media companies, SaaS vendors and other businesses whose revenue model is anchored on automatically charging a credit card or debit card on file … Read more
Bank accounts are not heavily branded, barring IndusInd Bank and a few more exceptions. The fifth largest private sector bank in India tries to create a strong brand for its bank account on the back of differentiators like return of canceled cheque. (For the uninitiated, banks return canceled cheques to customers by default in USA … Read more
In Interoperability – The Sole Loser In UPI, we saw why interoperability has been compromised in UPI. In this post, we’ll explore ways to revive this noble goal. Some people advocate education campaigns to increase awareness of VPA and thereby revive interoperability. Once people know what a VPA is, first they would ensure better VPAs and … Read more
Customer Centric means “thinking about the customer while designing your product and overall experience”. There are various facets to the customer: Tasks – as in jobs to be done Preference – as in taste Interest – as in vested interest Welfare – as in happiness All of the above Which facet should customer-centric credo think … Read more
Many people conflate the amount of payments processed in a country with the country’s GDP. This is wrong: GDP drives, but does not cap, TPV. Take the COO of a leading mobile payment fintech: April loss of business is $80bn approx vs cost of vaccinating India $8bn:RTGS – 🔻33%NEFT – 🔻34%UPI – 🔻3%IMPS – 🔻9%Credit Card … Read more
We ended Banks Have Not Lost The UPI Plot on a sobering note: Sadly, interoperability has been given the short shrift in the way UPI has evolved. In this post, we’ll see how interoperability has lost the UPI plot. One of the founding principles of UPI is “interoperability”, which stipulates that anyone with any UPI app … Read more
Every month, when I pay my credit card bills, I sigh to myself “if only there was a way to pay this bill with another credit card and earn rewards…”. Others are more vocal with their wish. See Why can’t I pay my credit card bill with another credit card?. As a credit cardholder, I … Read more
The common man hears about Google Pay, PhonePe and PayTM while making UPI payments – rather than State Bank of India, HDFC Bank or ICICI Bank. Ergo there’s a widespread belief that banks have lost the UPI plot. Take this tweet for example: The statement on NEFT with stanchart applies to the HDFC as well. … Read more