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Good start by YES Bank. Leveraging technology to solve business problems for its customers and ease finance to enterprise and it's suppliers. Hope its repeatable to other corporate customers by the bank.

Any EMV Implementation which covers both end of compliane i.e. ATM/POS acquiring channels as well as Issuance level leaves little for fraudesters at these channels and move to CNP/e-commerce channel.

In matured EMV migrated country such as France can always look at dynamic CVV to further offer additional layer of risk cover.

Usually its seen that, Uber transaction size will be lower compared online purchase so, Dynamic CVV authentication can be bypassed with transaction keys ( Merchant category code etc.) for Uber kind of transaction but still achieve good risk cover.

BBVA has implemented it for Mexico with Gemalto's technology for Dynamic CVV for mobile transactions (2015).

@Ketharaman, HUF is defined as Parents, Childs all opening individual accounts in the bank and than, one of the member becomes Karta and authorises all other accounts to come under single HUF ( better word will be Unified Family account). Each gets debit cards, cheque books , net banking access etc but Karta decides how all this accounts can be operated. Condition is all accounts need to be from same bank :)

The above modalities can be applicable to any savings account so there is no caste barrier for HUF account. I will check with my bankers friends for more details as HUF is usually used for Taxation to save taxes.

Most Banks offer HUF account which can address such situations.

This move will start interoperatability of wallets.

This is welcome move from Regulator to consider other parameters for scoring and eligibility for lenders#Fintech. Ofcourse, actual dos and don'ts that comes up will impact largely on growth of Fintech in lending space.

Is it Braxit Effect that N26 is taking first mover advantage?

Earth quake in India and tremors felt in US :) Wondering about Business model with which company operate as I was of opinion that, most of its ATMs work on fixed assured transaction fees + variable slabs? isn't it??

Point solutions will loose out to fully furnished offerings.

Financial Inclusion - covering more citizens under banking system has several agenda. One of the teething issue was Telecom operators with pre-paid wallets. Coming up with Payments bank license protects for running parallel creation of 'Money'.

Indian govt has come up with brilliant strategy JAM Trinity - Prime Minister Jan Dhan Yojana (PMJDY), Aadhaar and Mobile connectivity (JAM) to kill several birds with single stone such as DBT (Direct Benefit Transfer) of Govt benefits, low cost of vehicle of mobile wallet/banking ( NPCI with UPI) and world's largest biometric database UIADI/AADHAR database.

Payments banks can see synergy to work with traditional banks for opening more banks accounts and service using low cost channels ( read Mobile and BC banking). Payments banks can find several ways to build business services/value added services as all these accounts are under KYC (or e-KYC) and ready for more digital services through universal banks on collobrative mode.

SBI and Reliance JIO has already started several steps towards it and more payments banks will come up with some brilliant.

Ofcourse, these leads to demand of issuing more universal banking licenses as well as merger of existing banks to consolidate and bring efficient economic enviornment in the country.