yogeshazr

Joined April 2023

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The Future of Cash - Will Physical Money Become Obsolete?
Physical cash became the backbone of our financial systems, replacing the age-old barter systems. From small daily transactions to large-scale exchanges, cash is a trusted and tangible form of payment. Rapid advancements in technology are changing the way we handle money. Digital wallets, contactless cards, payment links, UPI payments, QR code payments, CBDCs and cryptocurrencies are becoming very popular and taking mainstream, this raises a critical question: Will physical money soon become a thing of the past? Lets check this in detail.
By yogeshazrabout a year ago in Futurism
How Payment Automation Is Reducing Operational Costs in the Hospitality Sector
Hospitality industry is always looking for ways to enhance guest experience while maintaining operational efficiency. Implementation of Payment automation is one such step in this direction, which will not only improve the guest experience but will also reduce operational costs. Payment automation has lots of benefits which include, facilitating seamless online bookings, online check-in, smoother check-out, faster transactions, lower labour costs, and reduced human error.
By yogeshazrabout a year ago in Futurism
The Role of Digital Payments in Financial Inclusion and Economic Growth
Digital payments are changing the way we handle money and making financial services accessible to a wider audience, thus fuelling economic growth globally. As technology is growing rapidly, especially mobile technology, and smartphones are becoming more affordable to the masses, thus making digital payment services accessible to a wider audience. Moreover, governments are trying to expand mobile and high speed internet coverage to the rural areas, which will provide financial access to people in rural areas.
By yogeshazrabout a year ago in Futurism
The Impact of Mobile Payment technology on Retail Businesses
Mobile payment technology is changing the whole retail industry. As more customers are looking for more convenient, quicker, and secure ways to pay, retailers are going towards the latest payment technologies. Mobile technologies are becoming more advanced and secure day by day, and parallely smartphones are becoming more and more affordable to common men. Moreover, mobile and high-speed internet coverage is expanding to even the most rural places. Enabling the common men even at the rural parts too, have access to digital payments.
By yogeshazrabout a year ago in Futurism
Subscription Models Are Transforming the Retail Industry
Subscriptions and recurring payments are nowadays part of everyone's life. Early it was mostly limited to newspaper, magazines, and milk subscriptions, but in the last few years subscription economy has grown considerably and is still growing. Currently, a wide variety of products are available in the subscription model which includes, digital streaming services, meal kits, groceries, cars, shaving products, beauty products, clothes, etc.
By yogeshazrabout a year ago in Futurism
The Future of Cashless Societies
The concept of Cashless societies is attracting a lot of discussions across the globe, with some speaking in favour and some having serious concerns regarding the same. To some, it might look like just a futuristic vision, but with fast-paced technological development, it doesn't look that far. A lot of governments are working on CBDCs, and some countries have already started their pilot programs. Although it comes with a lot of benefits, but it also has some concerns like data privacy and inclusion. Lets check these in detail.
By yogeshazr2 years ago in Futurism
Tips to Combat Subscription Fatigue and Retain Customers
The subscription economy is experiencing explosive growth in recent years. Currently, a wide range of products and services are available via a subscription model, which includes digital services, meal kits, groceries, clothes, and even customised beauty products. Subscription model businesses offer a lot of benefits for both businesses and consumers alike which is the reason for its big success, but are not immune to challenges. Subscription fatigue is one such challenge that businesses need to address.
By yogeshazr2 years ago in Futurism
The Role of Digital Payments in Online Shopping
Online shopping has become very popular in the last few years and is still growing at a faster pace. There are portals that are getting a large user base like Flipkart, Amazon, Tatacliq, Jiomart, Meesho, etc. Apart from that lot of businesses are selling directly through their websites and social media platforms like Instagram and Facebook. Modern digital payment solutions act as the backbone for these online commerce transactions. Digital payment solutions are faster, safer, and accessible to everyone through mobile phones, laptops and tablets, even if you are in remote areas. Lets check in detail how digital payment is helping online commerce to grow.
By yogeshazr2 years ago in Futurism
The Role of Automation in Recurring Billing and Payment Processing
Automated recurring billing makes the complex billing and payment processes effortless, freeing up your time and resources to focus on what truly matters - your business and your customers. Whether it's a streaming platform or a monthly box of goodies, an automated recurring billing solution will make the whole process super smooth and stress-free. From sending automated reminders to customers with billing details, collecting payments from customers at a predefined time, and enabling the auto-pay options will initiate the payment transfer directly from the customers' bank account. Even payment retry will be initiated automatically, and intimation for the same will be shared with the customers. Thus reducing the manual workload as well as the errors arising from it and saving time spent in fixing the errors.
By yogeshazr2 years ago in Trader
Recurring Revenue
Companies are constantly seeking ways that will ensure long-term success and growth. A recurring revenue model business is one such proven strategy that will provide them with a recurring stream of revenue. Compared to the traditional one-time sales model which can lead to higher churn, the recurring revenue model will provide them a continuous source of income and lower churn, it will lead to a long-term success.
By yogeshazr3 years ago in Trader
Benefits of Going Cashless
In today's digital age, technological advancement has made it possible to go cashless. Lets understand what is actually meant by cashless society. Instead of carrying physical currencies in hand and doing transactions with them, keeping everything digitally in your bank account and wallets and conduct whole transactions directly from your bank account to the receiver's bank account. Same as giving money traditionally, you will be transferring only the exact amount that you have pay. There should not be any transaction costs, as a result, these systems have to be backed-up by the government.
By yogeshazr3 years ago in Trader
Financial Strategies for Small Businesses
In this continuously evolving competitive market, its very important for small businesses to plan and manage businesses wisely, to stay afloat in the game. There are a few tips to consider which will help you in creating an effective comprehensive financial strategy for your business.
By yogeshazr3 years ago in Trader