Mobile Wallets – Are They Relevant Today?

A digital instrument that converts your Mobile phone into a device for carrying out financial transactions can be defined as a Mobile Wallet. Technology evolved from fixed line phone to a cordless phone to a mobile phone and that got us thinking of how could we add various services to this device and found replacement to various services that were restricted to a desktop or a hand held camera. How could our commercial transactions be left behind? We brought the ability to conduct these on the mobile phone.

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Payment Gateway – What You Should Know Before You Unlock The Doorway To Accepting Digital Payments.

After the recent pandemic, the world has realised that if a business has to stay relevant it has to transform itself to its Digital Avatar. If you stop meeting people and want to sell you need an interface to complete the commercial transaction. That interface to accept payments digitally is provided by a payment gateway.

Let’s understand the evolution of plastic money. Visa as founded in 1958 followed by JCB (Japan Commercial Bank) and MasterCard. These names are often referred to as card schemes. These companies issued plastic cards that would be accepted at the merchant location and dependency on cash was reduced. The advent of internet saw businesses going online and payment gateway was evolved as a tool to accept the payments digitally. Today there are various card schemes – Rupay, China Union pay, American Express, Discover to name a few. We are moving from a cash economy to the digital payment world.

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