The
word ‘Safe ePayments’ is now an official word.
The
word i.e ‘Safe ePayments’ has been officially mentioned by
India’s leading business newspaper, ‘The Economic Times’.
In
the last couple of years, Indian Banks, either Public Sector or
Private Sector or Foreign Banks have invested considerably in IT
infrastructure to ramp up their ePayments offerings.
The
main drivers towards Safe ePayments were Reserve Bank of India and
National Payment Company of India.
UIDAI
(AADHAR) and the Central/State Governments too are now major
motivators to move to Safe ePayments.
The
ePayments volumes are on the increase, but a huge untapped potential
is there.
The
main reason for a slow conversion from traditional payments to
ePayments is the lack of a common awareness program aimed at the
Indian public.
Individual
players have been doing their bit to promote ePayments, but a focused
continuous program will do wonders for a surge in volumes.
‘Safe
ePayments’ should be considered as a Brand and there must be
efforts to promote it as a Brand.
The
question now arises is as to who should promote the Brand, i.e the
Regulator (RBI/NPCI/Central and State Governments), Banks directly
or via IBA or the intermediaries(MasterCard/Visa/Diners etc)
