• Naru’ Ramamoorthy, Chief Revenue Officer at Global PayEX


• 08.10.2021 11:45 am
#bank #payment

“Following the earlier announcements on the round-the-clock RTGS facility and increase in the settlement cycles of IMPS, the latest proposal focused on increasing the transaction limit for IMPS from Rs. 2 lakhs to 5 Lakhs is a much-needed move. I believe this will encourage businesses to move away from paper-based transactions and push the adoption of digital payments. It will also help large corporates and MSMEs bring in greater flexibility and an obvious cost efficiency by eliminating manual efforts and the errors accompanying these processes. Add to it the real gains from this move that will be seen in increased working capital management, enhanced transactional speed across the supply chain, as well as improved cash flow.

Further, the introduction of digital payments solutions in offline mode can be a great initiative when it extends to the corporate customers and B2B sector. Here, many businesses based in smaller and remote towns and cities can also leverage and benefit from the shift in digital payments.”