Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
Five Ways to Stimulate Electronic Payments (Hint: Discouraging Cheques Is Not One Of Them) The number of times the words "should" and "charge" appear in this article titled "RBI WANTS TO DISCOURAGE USE OF CHEQUES" got me wondering if "negative reinforcement" is seen as the only way to wean people away from ...
19 March 2013 /payments
In my opinion article titled "Impact of Regulation on Financial Services Providers" that was published in the August 2012 issue of The Journal of Internet Banking & Commerce, I'd argued that banks don't have much to fear from the slew of financial products launched by non-banking financial services providers. In response to this pie...
07 March 2013 /payments
Many banks tend to view Mobile Banking as a truncated version of Internet Banking and most of them offer mobile banking only to their existing Internet Banking users. This approach completely negates the true potential of mobile - after all, if I check my account balance once a week, make one or two fund transfers per month and don't buy more than...
19 February 2013
Soon after I wrote CTS2010: Cheque Truncation Or Contract Termination System?, a senior banker averred to me in private that India's cheque truncation program had a lot of loose ends. A friend of mine who used to work for a CTS solutions provider pointed out that the program had an ever greater impact on NBFCs than banks (For the uninitiated, a No...
29 January 2013 /payments /retail
According to a Barron's article titled The End of Cash?, the use of cash as a percentage of retail spending in the USA declined from 36% in 2002 to 29% in 2012. Extrapolating these figures - by using the same negative CAGR that works out to around 19.5% per decade - we should see the end of cash usage by 2202, that is, 190 years from now. An Excel...
08 January 2013 /security /payments
There has been a spate of ads and announcements over the last 3-4 weeks by banks in India about the introduction of the new Cheque Truncation System, CTS-2010, from the new year. For the uninitiated, CTS transforms cheque clearing from a paper-intensive to a digital process whereby only images of cheques move between the payer bank, payee bank a...
06 December 2012 /payments /retail
Technophobes and security pundits have been warning us for a long time that it’s possible for a passerby with an RFID reader – and malafide intent – to skim debit / credit card details off contactless cards and NFC smartphones even when they’re tucked away inside their owners’ wallets, pockets or hand bags. I’d a first hand exposure of this securi...
26 September 2012 /payments
In a previous blog post titled Gain Social Media And Lose The Call Center Hold Music, I’d written about how customer service via social media is a great experience for customers of airlines, banks, insurers, mobile network operators and other service providers. Let me now look at social media customer service from the perspective of service provid...
11 September 2012 /retail
According to many recent analyst reports, including the World Retail Banking Report 2012 co-authored by Cap Gemini and EFMA, customers are viewing the Internet - alongside the branch - as one of the two most important channels of retail banking worldwide. In this context, I find it odd that many banks and nonbanking financial service providers are...
20 August 2012 /payments
Over five years ago, I'd written a post titled Cheque Deposit Systems — Are They Really Worth It? During the next couple of years, I'd found this equipment to be down every other time that I'd visited the bank's branch to pay my credit card bill. My overall poor experience with this technology led me to conclude, in a follow up post titled Technol...
04 August 2012 /payments /retail
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