Fri. Feb 3rd, 2023

Digital

RBI curbs HDFC Bank’s digital, credit card operations 1 min read

RBI curbs HDFC Bank’s digital, credit card operations

[email protected]_84 2 years ago

MUMBAI (Reuters) – The central bank has forbidden India’s largest private lender HDFC Bank from adding new credit card customers or launching digital businesses after its digital payment services were hit by a power failure last month.

FILE PHOTO: The headquarters of India’s HDFC bank is pictured in Mumbai, India, December 4, 2015. REUTERS/Shailesh Andrade/File photo

The Reserve Bank of India has asked the bank’s board to examine the lapses and fix accountability, the lender said in a stock exchange filing on Thursday.

It said the central bank would consider lifting the curbs on “satisfactory compliance with the major critical observations” it had made.

“We are working on war footing,” said Sashi Jagdishan, Managing Director & CEO of HDFC Bank in a statement to customers published on the bank’s website. “We will work with experts and the regulator to fortify the identified areas for improvement.”

On Nov. 21, HDFC Bank’s

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A cashless Super Bowl: Why the NFL and Visa want stadiums to pivot to digital payments 1 min read

A cashless Super Bowl: Why the NFL and Visa want stadiums to pivot to digital payments

[email protected]_84 2 years ago

stadium.jpg

As live sports have groped for handholds during the pandemic, Visa and the NFL have been busily collaborating on no contact fan experiences in preparation for the eventual return of spectators. Recently, Visa and the NFL announced they are — in their own words — putting “a stake in the ground for the future of live events by announcing completely cash-free for all Super Bowls moving forward,” according to a spokesperson. These efforts will take effect starting in Tampa this year.

Also: Best POS systems in 2020: Get the right one for your business 

“Visa is one of our key partners in helping us imagine how our fans will experience the NFL in years to come,” says Renie Anderson, Executive Vice President of Partnerships & Chief Revenue Officer for the NFL. “We’re excited to announce that for our biggest event the future is here and we thank Visa

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India’s central bank curbs HDFC Bank’s digital, credit card operations 1 min read

India’s central bank curbs HDFC Bank’s digital, credit card operations

[email protected]_84 2 years ago

Adds analyst quote, more background

MUMBAI, Dec 3 (Reuters) – The central bank has forbidden India’s largest private lender HDFC Bank HDBK.NS from adding new credit card customers or launching digital businesses after its digital payment services were hit by a power failure last month.

The Reserve Bank of India has asked the bank’s board to examine the lapses and fix accountability, the lender said in a stock exchange filing on Thursday.

It said the central bank would consider lifting the curbs on “satisfactory compliance with the major critical observations” it had made.

“We are working on war footing,” said Sashi Jagdishan, Managing Director & CEO of HDFC Bank in a statement to customers published on the bank’s website. “We will work with experts and the regulator to fortify the identified areas for improvement.”

On Nov. 21, HDFC Bank’s digital payments business went down for more than 12 hours

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How Small Business Leaders Can Leverage Digital Marketing To Drive Growth 1 min read

How Small Business Leaders Can Leverage Digital Marketing To Drive Growth

[email protected]_84 2 years ago

Zohaib Hassan is the CEO/Founder of SnapWeb Services, an ROI driven, data-obsessed full-services digital marketing agency.

Covid-19 hit the world by surprise and left more than 14 million Americans unemployed with 31% of small and medium-sized businesses having to shut down their doors. Consumer confidence drives the U.S. economy and with uncertainty still on the horizon, business owners should consider the value of their advertising expenditures.

The Current State Of Affairs

According to Facebook’s State of Small Business Report, the hospitality and service industry took the hardest hit across all sectors (43%) and wellness, fitness, and other professional services followed close behind (41%). Surprisingly the retail industry wasn’t nearly as affected with 23% of businesses not operating.

When asked about their cash flows within the past 30 days it was clearly evident that cash outflow is greater than their inflow. This has led many business owners to turn

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Mastercard: Treasury Banks Prioritize Digital Payments 1 min read

Mastercard: Treasury Banks Prioritize Digital Payments

[email protected]_84 2 years ago

The digital shift brought on by the coronavirus has caused treasury banks to reprioritize their support of digital payments as consumers and merchants increasingly demand fast, easy and secure ways to get their money. And while the origins of that trend pre-date the current crisis, Silvana Hernandez, senior vice president of digital payments at Mastercard, tells PYMNTS that the pandemic has sped up the process.

“I think it all starts and ends with the consumer — and what we’re seeing is that consumers, more than ever with COVID, want digital experiences,” Hernandez said.

She added that as consumers lean on merchants, those merchants have started to lean on their banks to offer solutions that are faster and more convenient than simply moving money by check or ACH. But as Hernandez noted, the fact that many treasury banks still have complex legacy systems in

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India’s central bank puts curbs on HDFC Bank’s digital, credit card operations 1 min read

India’s central bank puts curbs on HDFC Bank’s digital, credit card operations

[email protected]_84 2 years ago

MUMBAI, Dec 3 (Reuters) – The central bank has forbidden India’s largest private lender, HDFC Bank HDBK.NS, from adding new credit card customers or launching digital businesses after its digital payment services were hit by a power failure last month.

The Reserve Bank of India has asked the bank’s board to examine the lapses and fix accountability, the lender said in a stock exchange filing on Thursday.

“The above measures shall be considered for lifting upon satisfactory compliance with the major critical observations as identified by the RBI,” it added, referring to the central bank’s curbs.

On Nov. 21, HDFC Bank’s digital payments business was down for more than 12 hours, following a power outage in its primary data centre.

Shares of HDFC Bank turned negative after its statement, giving up earlier session gains of more than 1%, and were last trading down 0.3% by 0516 GMT.

“The bank

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Transcend Digital Solutions Builds Custom Marketing Solutions for Businesses 1 min read

Transcend Digital Solutions Builds Custom Marketing Solutions for Businesses

[email protected]_84 2 years ago

The marketing firm provides online marketing solutions that can boost brands’ online presence.

In an era where digital products and services give businesses a certain advantage, owning an online presence is crucial. Transcend Digital Solutions, founded by Tiye Martin, offer companies the online tools to cultivate not only a strong online presence, but also to use that influence to develop systems that create cashflow online.

The team behind Transcend Digital Solutions are talented and experienced professionals that have spent years developing digital marketing campaigns for different businesses across various industries. They have the expertise to create an online identity for businesses through social media marketing. They specialize in optimizing social media profile in platforms such as Facebook, Twitter, Instagram, Linkedin and YouTube. The company manage and build a large interactive following across the businesses’ different social media profiles and encourage increase in brand exposure — eventually leading to sales.

A

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Using Digital Acceleration to Strengthen Your Business 1 min read

Using Digital Acceleration to Strengthen Your Business

[email protected]_84 2 years ago

As soon as the pandemic hit in early 2020, it was clear that global supplier management processes would need to transform abruptly and permanently.

If you’ve found your business’s sourcing and procurement ensnared in the pandemic panic, you’re hardly alone. Of nearly 200 executives responding to a recent Harvard Business Review Analytic Services study, 95% reported disruption of their strategic sourcing and supplier management processes due to the effects of the Covid-19 pandemic.

These processes were already overdue for an update. The overwhelming majority (92%) of global executives see the digital maturity of their current supplier management processes as less than best in class. One in eight said they still manage these processes with email and spreadsheets.

Still, as the old adage says, never let a crisis go to waste. Six of every 10 executives said the pandemic has led them to fast-track their plans to update and automate their

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Digital Marketing Expert Rei Prendi Shares 5 Tips to Scale Your Online Business Rapidly 1 min read

Digital Marketing Expert Rei Prendi Shares 5 Tips to Scale Your Online Business Rapidly

[email protected]_84 2 years ago

by Romy Johnson

More and more people are turning to e-commerce websites and online portals to do their shopping, especially as we get closer to the holiday season. How can entrepreneurs take advantage of this market surge? Digital marketing expert Rei Prendi offers these five tips for quickly growing your online business.

Create Your Own Content

According to Prendi, “the digital world requires you to create compelling content if you want to remain relevant continually. This can take the form of social media posts or long-form blogs. But keeping yourself in the public eye will help you sell your product.” If people like what you post, they will share it with others. This will help scale your customer base.

Leverage attractive photographs

There’s some great free clip art out there on the internet. “But nothing personalizes your brand better than photos you take yourself,” said Prendi. Take pictures of your

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Howard University is planning to launch a digital business center 1 min read

Howard University is planning to launch a digital business center

[email protected]_84 2 years ago

Supported by a donation from marketing software company HubSpot, D.C.-based HBCU Howard University is planning to launch a Center for Digital Business to offer business education programming over the next five years.

The center will hold a physical space inside of Howard’s business school and will be open for collaboration between students, faculty and biz leaders. The center’s programming will focus on three areas: academics, experiential learning and support for job readiness.

“For our students to remain competitive, it is critical that they have exposure to the latest technologies and processes that are utilized in the current business environment,” said Anthony Wilbon, dean of the Howard University School of Business, in a statement. “The new Center will certainly accelerate our goal to enhance students’ skills so they can be immediate contributors to the digital workforce.”

The new center aligns with the university’s goal of creating a better

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