Fintechs – Products, Community, News
Fintechs – Products, Community, News
Launching a credit card is a complex process that involves numerous technical, regulatory, and operational aspects. Below is a step-by-step guide to help understand the technicalities, timeline, compliance requirements, and key challenges. 1. Technicalities Involved in Launching a Credit Card Step 1: Conceptualization and Market Research • Target Audience: Identify the customer segment (e.g., retail, […]
1. What is BIN Migration? BIN (Bank Identification Number) is the first part of a credit, debit, or prepaid card number, traditionally 6 digits long, that identifies the issuing institution. BIN Migration refers to the process of updating or transitioning BINs to accommodate industry changes, such as the introduction of 8-digit BINs or migration from […]
1. What is a Prepaid Payment Instrument (PPI)? Prepaid Payment Instruments (PPIs) are payment tools that facilitate the purchase of goods and services, the transfer of funds, and access to a range of financial services. They are preloaded with a specific amount of money, which can be spent within limits imposed by the issuing entity. […]
A Forex Card (Foreign Exchange Card) is a prepaid card that travelers can use to carry multiple foreign currencies. These cards are designed for convenience, eliminating the need for carrying large amounts of cash while traveling abroad. Like debit or credit cards, Forex Cards can be used for purchases, ATM withdrawals, and online transactions in […]
3D-Secure (Three-Domain Secure) is a security protocol that provides an additional layer of authentication for online card transactions. Introduced by Visa (as Verified by Visa) and later adopted by other major card networks like MasterCard (MasterCard SecureCode) and American Express (SafeKey), the purpose of 3D-Secure is to reduce fraud and increase the security of e-commerce […]
The National Common Mobility Card (NCMC), launched under the “One Nation. One Card” initiative, enables seamless, multi-modal transit payments across India. Supported by the RuPay platform, the NCMC card allows users to make payments for metro, buses, railways, tolls, parking, retail, and more using a single card. This card integrates both online and offline transactions, […]
Co-branded credit cards are a type of partnership between a card issuer, typically a bank or financial institution, and a brand (e.g., airlines, retail stores, or service providers). These cards offer enhanced benefits tailored to the brand, providing perks such as discounts, loyalty points, or exclusive offers. Co-branded cards are a win-win for both companies […]
Understanding Visa: An Overview Visa Inc. is a global leader in digital payments, facilitating secure and efficient transactions for consumers, businesses, and governments around the world. Established in 1958, Visa operates in over 200 countries and territories, connecting millions of merchants, financial institutions, and cardholders. Types of Visa Products and Services 1. Credit Cards: • […]
Introduction: User acquisition is a critical aspect for B2C fintechs aiming to establish a strong customer base and drive adoption of their financial products and services. Sustainable strategies involve not just attracting users but also creating a community, fostering engagement, and ensuring long-term customer loyalty. I. User Acquisition Methods: 1. Digital Marketing: 2. Partnerships and […]
Introduction to Debit Cards: A debit card is a payment card that provides cardholders with electronic access to their bank accounts to make purchases or withdraw cash. Unlike credit cards, which allow users to borrow money up to a certain credit limit, debit cards are directly linked to the user’s bank account, and transactions are […]