<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2024/12/Merchant-Management-System-101-Blog-Banner-2000x1251-.webp" alt="M2P Fintech" title="" width="100%" height="447"><p class="text-node" id="1waxwcrx7" style="text-align: justify"></p><p class="text-node" id="qf1yg7t3a" style="text-align: justify">Every online transaction involves four key parties:&nbsp;</p><ul class="list-node" id="2e7wi5tkl"><li><p class="text-node" id="kemkk8nh4" style="text-align: justify">Merchant</p></li></ul><ul class="list-node" id="fijnffcui"><li><p class="text-node" id="je4vz702a" style="text-align: justify">Customer</p></li></ul><ul class="list-node" id="1yaebqt4h"><li><p class="text-node" id="s2fyuhj2m" style="text-align: justify">Issuing bank (the customer's bank) &amp;</p></li></ul><ul class="list-node" id="fygbfv86z"><li><p class="text-node" id="9j6ktxm4t" style="text-align: justify">Acquiring bank (the merchant's bank)</p></li></ul><p class="text-node" id="gapbyed83" style="text-align: justify">A robust system is essential for tracking and managing data effectively to enable seamless transactions among these parties. </p><p class="text-node" id="pmt3ev0zh" style="text-align: justify">This is where the <a class="link" href="https://m2pfintech.com/merchant-acquiring-solutions/"><strong><em>Merchant Management System</em></strong></a><em> (MMS)</em> comes into play. </p><p class="text-node" id="vdm9fv72q" style="text-align: justify">An MMS not only facilitates transactions but also streamlines operations, making it indispensable for businesses looking to optimize processes and improve customer experiences.</p><h2 class="heading-node" id="l3vaax3f0" style="text-align: justify"><strong>What is a Merchant Management System (MMS)?</strong></h2><p class="text-node" id="5i6peaih6" style="text-align: justify">A Merchant Management System (MMS) is a comprehensive platform designed to streamline and enhance services for merchants within the financial ecosystem. It encompasses various functionalities, including payment setup, transaction management, settlement &amp; payout management, and customer support integration, all aimed at improving operational efficiency. By managing merchant relationships and processing transactions efficiently, an MMS empowers businesses to meet the demands of today’s fast-paced digital payment landscape.&nbsp;</p><h2 class="heading-node" id="ju65rri8k" style="text-align: justify"><strong>Key Features of a Merchant Management System</strong>&nbsp;</h2><h3 class="heading-node" id="3vp4jewbb" style="text-align: justify"><strong>Merchant Onboarding</strong>&nbsp;</h3><p class="text-node" id="kw0687xlv" style="text-align: justify">The onboarding process begins with merchants submitting applications along with required documentation for verification. KYC procedures validate their identity and legitimacy through checks on business licenses and ownership details. A risk assessment follows, evaluating the merchant’s profile through credit checks and performance analysis, leading to application approval or rejection based on these findings.&nbsp;</p><h3 class="heading-node" id="sjb5avvar" style="text-align: justify"><strong>Account Management</strong>&nbsp;</h3><p class="text-node" id="26fepc55x" style="text-align: justify">Merchants gain access to a user-friendly dashboard that allows them to manage their accounts, view transaction histories, and track performance. Self-service capabilities enable merchants to update information, manage payment options, and resolve disputes independently.&nbsp;</p><h3 class="heading-node" id="d4jy9jszo" style="text-align: justify"><strong>Transaction Processing</strong>&nbsp;</h3><p class="text-node" id="laa4ndrc9" style="text-align: justify">MMS integrated with payment gateways enables merchants to accept multiple payment methods, including cards, <a class="link" href="https://m2pfintech.com/blog/upi-the-driver-of-economic-growth-and-inclusion/">UPI</a>, wallets, and <a class="link" href="https://m2pfintech.com/blog/bnpl-the-rising-fintech-star/">BNPL</a>. Its real-time transaction monitoring detects anomalies and fraudulent activities, while advanced reporting and analytics provide merchants with valuable insights to assess and optimize their financial performance.&nbsp;</p><h3 class="heading-node" id="82zj4tw16" style="text-align: justify"><strong>Settlement &amp; Payout Management</strong>&nbsp;</h3><p class="text-node" id="22f6icmxa" style="text-align: justify">Settlement and payout management are integral components of an MMS. They facilitate the efficient transfer of funds to merchants, ensuring payments are processed accurately and in a timely manner. This system supports multiple settlement cycles, automated dispute processing, and detailed reporting, enhancing overall merchant operations and financial management.&nbsp;</p><h3 class="heading-node" id="7cz6izs7t" style="text-align: justify"><strong>Campaign Management</strong>&nbsp;</h3><p class="text-node" id="8i3883qr5" style="text-align: justify">Campaign management provides the strategic planning, execution, and tracking of promotional activities like offers, discounts, or loyalty programs. It enables businesses to target specific customer segments, enhance engagement, and boost sales. Effective campaign management ensures seamless coordination and measurable outcomes for marketing initiatives.&nbsp;</p><h3 class="heading-node" id="1n7uyp8jh" style="text-align: justify"><strong>Dispute Management</strong>&nbsp;</h3><p class="text-node" id="90wu86b7n" style="text-align: justify">Automated dispute processing streamlines workflows for efficient case management. Clear communication channels are maintained between merchants and service providers to address transaction-related issues promptly.&nbsp;</p><h3 class="heading-node" id="icjti465c" style="text-align: justify"><strong>Risk Management</strong>&nbsp;</h3><p class="text-node" id="zh9cpnnkh" style="text-align: justify">Advanced fraud detection tools monitor transactions in real time to identify potential fraud. Compliance monitoring ensures adherence to regulations like <a class="link" href="https://m2pfintech.com/blog/pci-dss-a-quick-guide-to-its-levels/">PCI DSS</a> and AML laws.&nbsp;</p><h2 class="heading-node" id="85gyzmd4x" style="text-align: justify"><strong>Benefits of Owning an Advanced Merchant Management System</strong></h2><p class="text-node" id="chjc82q84" style="text-align: justify">Merchant Management System plays a crucial role in ensuring regulatory compliance by helping institutions adhere to <a class="link" href="https://m2pfintech.com/blog/know-your-customer-kyc-the-need-for-authentication/">KYC</a> (Know Your Customer) and <a class="link" href="https://m2pfintech.com/blog/how-to-combat-money-laundering-2/">AML</a> (Anti-Money Laundering) regulations. They enhance operational efficiency through automation, streamlining tasks like reporting, <a class="link" href="https://m2pfintech.com/blog/recon360-redefining-payment-reconciliation/">reconciliation</a>, and performance monitoring. An intuitive merchant dashboard provides valuable insights into key metrics such as transaction volumes and settlement statuses. Additionally, MMS includes tools for fraud detection and risk scoring, allowing real-time monitoring of merchant activities and flagging suspicious behavior. Robust reporting and analytics features help track KPIs and generate financial reports, enabling informed decision-making.&nbsp;</p><h2 class="heading-node" id="99z47gc2x" style="text-align: justify"><strong>How to Choose the Right Merchant Management System?</strong></h2><p class="text-node" id="ab718zl72" style="text-align: justify">Selecting the right Merchant Management System (MMS) is crucial for driving efficiency and ensuring smooth operations. Here are key factors to consider.&nbsp;</p><h3 class="heading-node" id="zmctnckm8" style="text-align: justify"><strong>Multi-Tenancy Support</strong></h3><p class="text-node" id="qvblyyyks" style="text-align: justify">An ideal MMS should handle multi-tenancy support to manage multiple merchants, aggregators, and sub-merchants from a unified platform. It should facilitate transactions effortlessly and accommodate both present and future requirements through no-code workflows for smooth onboarding.&nbsp;</p><h3 class="heading-node" id="88cfo5ij8" style="text-align: justify"><strong>Integration Capabilities</strong></h3><p class="text-node" id="mi9q0vass" style="text-align: justify">Ensure that the system offers seamless integration with existing infrastructure, such as payment gateways and CRM platforms. Automated AML and KYC checks are critical for streamlining compliance without disrupting your ecosystem.&nbsp;</p><h3 class="heading-node" id="tbzt8h41h" style="text-align: justify"><strong>User-Friendly Interface</strong>&nbsp;</h3><p class="text-node" id="gezzvufps" style="text-align: justify">A well-designed dashboard simplifies managing tasks like tracking merchant performance and generating reports, especially when dealing with comprehensive risk assessment tools.</p><h3 class="heading-node" id="ltwlfgpph" style="text-align: justify"><strong>Security Features</strong></h3><p class="text-node" id="gagpkn8gq" style="text-align: justify">Prioritize strong security measures, including advanced encryption protocols and real-time fraud detection algorithms that protect sensitive merchant data.</p><h3 class="heading-node" id="h1fpzpc3g" style="text-align: justify"><strong>Customizability and Flexibility</strong></h3><p class="text-node" id="d23sflv2p" style="text-align: justify">Look for a system that can be tailored to your unique business requirements through custom workflows and flexible configurations.</p><h2 class="heading-node" id="o98ly1xh8" style="text-align: justify"><strong>Elevate your Merchant Operation</strong></h2><p class="text-node" id="i9kydyz38" style="text-align: justify">Merchant Management Systems play a vital role in enhancing operational efficiency, ensuring compliance, and streamlining interactions between merchants and service providers. Investing in a robust MMS can optimize operations while effectively mitigating associated risks. </p><p class="text-node" id="bypajvkrz" style="text-align: justify"><a class="link" href="https://m2pfintech.com/contact-us/?activeKey=1">Request a demo</a> today to explore our MMS solution and its capabilities. </p><p class="text-node" id="cv0e355q5" style="text-align: justify"><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://m2pfintech.com/newsletter/" target="_blank" rel="noreferrer noopener"><strong><em>Subscribe</em></strong></a><strong><em>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.</em></strong> </p><p class="text-node" id="59ijmfxip" style="text-align: justify"><strong><em>Follow us on&nbsp;</em></strong><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://www.linkedin.com/company/m2pfintech/mycompany/" target="_blank" rel="noreferrer noopener"><strong><em>LinkedIn</em></strong></a><strong><em>&nbsp;and&nbsp;</em></strong><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://twitter.com/m2pfintech" target="_blank" rel="noreferrer noopener"><strong><em>Twitter</em></strong></a><strong><em>&nbsp;for insightful fintech bytes curated for curious minds like you.</em></strong></p>

Everything You Need to Know about Merchant Management System

Offline Digital Payments: Boosting Financial Inclusion in India

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/07/promotion-banner-1.webp" alt="M2P Fintech" title="" id="wx7r0ba8i" width="100%" height="317"><p class="text-node" id="067ujv4bq" style="text-align: justify"></p><p class="text-node" id="kt43cr803" style="text-align: justify">Debit cards are pivotal to a bank’s digital payment mix. With minimal credit and regulatory risks involved, they are safe digital payment facilitators that deliver convenient transactions, freedom from debt, and rewards. Banks leverage debit cards for higher customer acquisition, retention, and loyalty while diversifying revenue streams through transaction fees.&nbsp;</p><p class="text-node" id="ilg8en1iu" style="text-align: justify">In India, the number of debit cards in circulation is projected to witness a steady increase of 84.6 million cards by 2028. The total number of debit cards is anticipated to reach an impressive&nbsp;1&nbsp;billion*.</p><h2 class="heading-node" id="0zxvdvu3r" style="text-align: justify"><strong>Need for a Modern Debit Card Solution</strong>&nbsp;</h2><p class="text-node" id="cf490zgj2" style="text-align: justify">Banks today need to keep up with growing customer expectations, advanced technology innovation, and regulatory changes. Though legacy debit card systems have served traditional banks so far, they have limited agility and are high on cost. The restrictions impact their ability to accelerate efficiencies, handle major transaction volumes, and accommodate technology upgrades and innovations. These hinder the bank’s capability to go-to-market quicker with debit cards that support instant upgrades and growth.&nbsp;</p><p class="text-node" id="drdpuzktc" style="text-align: justify">Investing in a scalable, robust, new-age&nbsp;<a class="link" href="https://m2pfintech.com/blog/say-goodbye-to-hassles-simplify-debit-card-management-with-m2p-fintechs-revolutionary-platform/">debit card management</a>&nbsp;solution that accelerates&nbsp;<a class="link" href="https://m2pfintech.com/blog/debit-card-issuance-101-all-you-need-to-know/">debit card issuance</a>&nbsp;and decreases operational inefficiencies is crucial for banks. But integrating modern debit card management systems into traditional banking infrastructures is no easy feat. Manual data transfers, disparate systems, and limited adaptability can lead to errors and reduced user satisfaction. Integration and migration often involve reliance on multiple vendors which further adds to the confusion and inefficiencies.&nbsp;</p><h2 class="heading-node" id="w72zpikw1" style="text-align: justify"><strong>Comprehensive, Cloud-agnostic Debit Card Stack</strong></h2><p class="text-node" id="09ur1wpj8" style="text-align: justify">Our modern&nbsp;<a class="link" href="https://m2pfintech.com/debit-cards/">Debit Card Management System</a>&nbsp;is a robust, scalable, cloud-agnostic solution that eliminates the need for multiple vendors and serves as a comprehensive one-stop shop for all your debit card issuance and operational requirements. By seamlessly integrating with financial institutions, payment gateways, and third-party services, we deliver enhanced security, lightning-fast transactions, and an unbeatable user experience. While end customers can enjoy unified interface, real-time updates, and top-tier security, banks benefit from seamless operations and quick turnaround times<strong>.</strong>&nbsp;</p><h2 class="heading-node" id="eplkua3t4" style="text-align: justify"><strong>Key Ancillary System Integrations</strong>&nbsp;</h2><p class="text-node" id="0xr76v8al" style="text-align: justify">Our ability to seamlessly stitch in loyalty programs, personal finance,&nbsp;<a class="link" href="https://m2pfintech.com/blog/all-you-need-to-know-about-building-a-robust-fraud-and-risk-management-frm-system/">fraud and risk management</a>,&nbsp;<a class="link" href="https://m2pfintech.com/blog/recon360-redefining-payment-reconciliation/">reconciliation</a>,&nbsp;<a class="link" href="https://m2pfintech.com/blog/unlock-the-future-of-banking-with-next-gen-core-banking-solutions/">core banking</a>, and&nbsp;<a class="link" href="https://m2pfintech.com/blog/transform-digital-onboarding-with-vkyc/">KYC</a>&nbsp;modules with the debit card management solution sets us apart from our peers. The add-on integrations are seamless with zero lag, and they enhance the value and functionality in addition to creating a personalized and holistic banking experience for the customer.</p><p class="text-node" id="ikbfocurv" style="text-align: justify"></p><img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/07/Img_1-1.webp" alt="M2P Fintech" title="" width="100%" height="342"><p class="text-node" id="xp0561bey" style="text-align: justify"></p><h3 class="heading-node" id="nxm0zsuql" style="text-align: justify">Loyalty Program</h3><p class="text-node" id="ok2moeq5s" style="text-align: justify">Loyalty programs boost customer lifetime value. When debit card systems are integrated with robust loyalty modules, banks can ensure their valued customers earn rewards and exclusive benefits without any issues. They can personalize offers, offer points, and reward redemption based on debit card usage.</p><h3 class="heading-node" id="qdxgvzm0u" style="text-align: justify">Personal Finance Management (PFM)</h3><p class="text-node" id="ms1sfj1ck" style="text-align: justify">With our user-friendly PFM technology, financial institutions can help their clients set and stick to realistic financial objectives like saving money and paying off debt. The personal financial management module enables users to keep tab on their money, make plans, and get tailored advice.</p><h3 class="heading-node" id="ktcsgqt3l" style="text-align: justify">Fraud Risk Management (FRM)</h3><p class="text-node" id="knoh6sgw5" style="text-align: justify">Banks can mitigate risks and make informed decisions with our&nbsp;<a class="link" href="https://m2pfintech.com/blog/all-you-need-to-know-about-building-a-robust-fraud-and-risk-management-frm-system/">FRM</a>&nbsp;solutions. Integrating our FRM module provides real-time fraud detection, thus protecting customers and financial institutions.</p><h3 class="heading-node" id="tdlca3qj8" style="text-align: justify">Access Control Server (ACS)</h3><p class="text-node" id="tjo7iglno" style="text-align: justify">With our&nbsp;<a class="link" href="https://m2pfintech.com/acs/">ACS</a>&nbsp;system, banks can benefit from enhanced authentication measures that include two-factor authentication. These help to protect against unauthorized access and ensure secure debit card usage for customers.</p><h3 class="heading-node" id="2q599yge7" style="text-align: justify">Reconciliation</h3><p class="text-node" id="95w4b9qiu" style="text-align: justify">Integrating with&nbsp;<a class="link" href="https://m2pfintech.com/blog/recon360-redefining-payment-reconciliation/">Recon360</a>, our standalone product enables seamless end-to-end reconciliation for transactions, payments, and value-added services. Banks can have greater control over card networks, digital channels, multicurrency, and more. It simplifies exception management, dispute resolution, loyalty tracking, and fund transfers.&nbsp;&nbsp;</p><h3 class="heading-node" id="ushsikmr2" style="text-align: justify">Core Banking System (CBS)</h3><p class="text-node" id="4gqdatji5" style="text-align: justify"><a class="link" href="https://m2pfintech.com/blog/unlock-the-future-of-banking-with-next-gen-core-banking-solutions/">CBS</a>&nbsp;is the bedrock upon which a bank’s financial services can be built. Layering the debit card management system into the CBS enables complete financial management by streamlining fund transfers through organized and efficient processes.&nbsp;</p><h3 class="heading-node" id="qvqsoaswy" style="text-align: justify">Know Your Customer (KYC)</h3><p class="text-node" id="80hf058g8" style="text-align: justify">Our platform lets you collect, verify, and manage&nbsp;<a class="link" href="https://m2pfintech.com/blog/crack-the-kyc-jigsaw-ease-onboarding-compliance/">KYC</a>&nbsp;information and streamline the onboarding process. The KYC solution ensures regulatory compliance, enhances customer onboarding efficiency, and improves overall customer experience.</p><h3 class="heading-node" id="t4evco8xo" style="text-align: justify">Switch</h3><p class="text-node" id="bu9jetgnv" style="text-align: justify">The&nbsp;<a class="link" href="https://m2pfintech.com/blog/what-is-a-payment-gateway-and-payment-switch-understanding-the-basics-of-payments-architecture/">payment switch</a>&nbsp;facilitates smooth communication between payment service providers, routing transactions, and processing payments. M2P’s Switch-as-a-Service offers versatile capabilities, including authentication, tokenization, and transaction processing. Its architecture ensures seamless transaction orchestration within the debit card solution.&nbsp;</p><h3 class="heading-node" id="ljectnvx1" style="text-align: justify">Notifications</h3><p class="text-node" id="svuzq368o" style="text-align: justify">M2P integrates with the bank’s Short Message Service (SMS) vendor for customer debit card notifications. It covers various events like successful transactions, limit exceeded, and more. Our real-time notification system aids customers in staying informed.&nbsp;&nbsp;&nbsp;</p><p class="text-node" id="km6blhowh" style="text-align: justify">By coupling the above discussed ancillary systems with our debit card stack, we provide a comprehensive and integrated solution that delivers enhanced functionality and increased value for both the customers and the financial institution. The debit card management solution suite can be readily integrated with products individually or used as a stand-alone product, making it a versatile option.&nbsp;</p><h2 class="heading-node" id="fx5l17msw" style="text-align: justify"><strong>What Makes our Debit Card Solution Unique?</strong>&nbsp;</h2><p class="text-node" id="dk7xqyedu" style="text-align: justify"></p><img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/07/img_2.2-1-1.webp" alt="M2P Fintech" title="" width="100%" height="230"><p class="text-node" id="f1anivf82" style="text-align: justify"></p><h3 class="heading-node" id="e4cnhg0y8" style="text-align: justify">Plug-and-Play Architecture</h3><p class="text-node" id="9cly3ofxw" style="text-align: justify">Our approach is not one-size-fits-all. We empower banks to customize and shape the system according to their unique preferences and workflows. Moreover, our add-on products further enhance the debit card management system’s capabilities, with full customization options for cherry-picking functionalities that align with the institution’s goals, ultimately elevating the overall customer experience. This comprehensive approach sets us apart, making our debit card solution the first of its kind.&nbsp;</p><h3 class="heading-node" id="vg5mi011s" style="text-align: justify">Smooth Third-Party Integrations</h3><p class="text-node" id="0ri74htfw" style="text-align: justify">Our system is built on a foundation of modularity and microservices, allowing seamless integration with both in-house and external services, including essential systems like CRM. The heart of our approach lies in our&nbsp;<a class="link" href="https://m2pfintech.com/blog/api-the-power-that-drives-new-age-banking-ecosystems/">API</a>-based approach, which ensures smooth and uninterrupted interactions with third-party integrations, particularly emphasizing the significance of CRM and the power of omnichannel engagement tools. By embracing this cohesive ecosystem, each component works harmoniously together, enriching the overall experience for users.&nbsp;</p><h3 class="heading-node" id="m1lao4e6i" style="text-align: justify">Diverse Banking Platforms</h3><p class="text-node" id="brii0q31w" style="text-align: justify">Our debit card management system facilitates seamless interactions with diverse banking platforms, enabling a unified experience for customers across&nbsp;Kiosk, POS, IVR,&nbsp;ATM, online banking, and mobile apps. Our versatile architecture ensures smooth data exchange and synchronization, streamlining operations and enhancing customer convenience. With us, banks can deliver a cohesive and user-friendly banking experience, thus maximizing customer satisfaction.&nbsp;</p><h3 class="heading-node" id="1rc7qkc3z" style="text-align: justify">Safety, Efficiency, and Reliability</h3><p class="text-node" id="5gpitw5ds" style="text-align: justify">Banking can be made easier with increased safety, instantaneous efficiency, and decreased downtime. Our Microservices-based strategy is both flexible and robust, while our high-performance, distributed streaming infrastructure guarantees rapid data flow. You can relax knowing that any potential risks to your financial system have been mitigated and that errors and downtime have been kept to a minimum.&nbsp;</p><h2 class="heading-node" id="ilmu5qvhx" style="text-align: justify"><strong>Opportunities and Possibilities&nbsp;</strong>&nbsp;</h2><p class="text-node" id="jczhb0pgx" style="text-align: justify">The future of debit card management holds innovative solutions. Akin to the versatility of AWS, our revolutionary platform empowers banks with intuitive drag-and-drop functionality, granting unparalleled autonomy to perform functions freely.&nbsp;</p><p class="text-node" id="fywgo1s1j" style="text-align: justify">Our debit card management system is about to set new standards with state-of-the-art AI-driven fraud detection and security protocols that mitigate risks in real time. By leveraging blockchain-based measures, we ensure an impregnable fortress for data and transactions, fostering unshakable trust within the digital ecosystem.&nbsp;</p><p class="text-node" id="y5i57h34e" style="text-align: justify">And that’s not all.&nbsp;&nbsp;</p><p class="text-node" id="0n6vojnz8" style="text-align: justify">We take customer experience a step further with partnerships with an extensive array of services and financial products. This open ecosystem unlocks limitless opportunities, enabling banks to curate a truly personalized and unparalleled banking experience.&nbsp;</p><p class="text-node" id="iepy0ddk5" style="text-align: justify">Supercharge your debit card management system and get ahead of the competition <a class="link" href="https://m2pfintech.com/contact-us/?utm_source=mainblog&amp;utm_medium=blg&amp;utm_campaign=july">Talk to&nbsp;M2P today!</a></p><p class="text-node" id="pdhy1jz19" style="text-align: justify">*<a class="link" href="https://www.statista.com/forecasts/1150250/debit-cards-in-use-forecast-in-india">Number of debit cards in India 2013-2028 | Statista</a></p><p class="text-node" id="8hpqwpehw" style="text-align: justify"><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://m2pfintech.com/newsletter/" target="_blank" rel="noreferrer noopener"><strong><em>Subscribe</em></strong></a><strong><em>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.</em></strong></p><p class="text-node" id="5h49a6okv" style="text-align: justify"><strong><em>Follow us on&nbsp;</em></strong><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://www.linkedin.com/company/m2pfintech/mycompany/" target="_blank" rel="noreferrer noopener"><strong><em>LinkedIn</em></strong></a><strong><em>&nbsp;and&nbsp;</em></strong><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://twitter.com/m2pfintech" target="_blank" rel="noreferrer noopener"><strong><em>Twitter</em></strong></a><strong><em>&nbsp;for insightful fintech bytes curated for curious minds like you.</em></strong></p>

Elevate your Banking Operations with our Integrated Debit Card Management System

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/05/hero-banner-2.webp" alt="M2P Fintech" title="" id="fudvus1lb" width="100%" height="253"><p class="text-node" id="khpms8hs6">The pandemic changed the world as we know it, and banking was no exception.</p><p class="text-node" id="u4icqycxa">Customers began preferring mobile-first, secure, personalized, and digital payment methods over direct ones to transact, and banks had to adapt to survive.</p><p class="text-node" id="dsfcjl0ah">Traditional banks had to find efficient ways to drive customer experience and security. They embraced digital transformation rapidly and implemented new technologies to offer customers a seamless banking experience.</p><p class="text-node" id="o97n0socy">Banks had to ensure that their Debit Card Management Systems (DCMS) were equipped to handle personalization, security, and the surge in usage. They had to adopt measures such as fraud detection and prevention systems, real-time transaction monitoring, and enhanced security protocols to ensure the safety of customer data.</p><p class="text-node" id="gq0nj4i28">But running a debit card operation can be a challenging task for banks. Pressure from evolving customer preferences, competition from contactless payment modes,&nbsp; and evolving regulatory changes severely affect the debit card landscape. Legacy banking systems are plagued by cost and effort bottlenecks that further impact the operational efficiency and profitability of banks.</p><p class="text-node" id="wwzy10y33"><strong>Solution: Next-gen Debit Card Management System&nbsp;</strong></p><p class="text-node" id="oer6a0wbq">To survive and thrive, banks need to modernize their core debit card infrastructure with futuristic, scalable, and innovation-friendly technology. Modern Debit Card Management Systems transform the way banks handle debit card operations. From super-quick transaction speed, personalized customer experiences, to enhanced security features and seamless integrations, modern debit card platforms are reshaping the way banks manage debit cards.</p><p class="text-node" id="58z8gx424">Before going head-on into what DCMS is and how it can improve efficiency, let’s take a quick trip down memory lane.</p><h2 class="heading-node" id="o2c1947a5"><strong>Debit card, over the years</strong></h2><p class="text-node" id="0mquyic3l">Debit cards have always been a ubiquitous part of the digital financial ecosystem enabling inclusive access to everything from subsidies, disbursals, remittances, bill payments, and more. It is widely used for various transactions such as ATM withdrawals, POS purchases, and online payments.&nbsp; Factors like freedom from debt, convenient card-based payment features, and rewards in the form of cashback have driven the shift in customer behavior towards debit cards. The security, efficiency, and convenience offered by debit cards played a vital role in India’s journey toward a cashless economy.</p><p class="text-node" id="pb7huqbvx">India's debit card journey started in the late 1980s with technological advancements. SBI Cash Plus card was launched in 1987, followed by Electronic Funds Transfer in 1994. INFS launched in 1997, and in 2000, RBI introduced two-factor authentication for online transactions. Two-factor authentication for online transactions using debit cards came in 2010. RuPay debit card was launched in 2014, and demonetization in 2016 boosted debit card usage.</p><h3 class="heading-node" id="2y29tx40t"><strong>Post 2020</strong></h3><p class="text-node" id="wpftfwlwc">During and after the pandemic, <a class="link" href="https://m2pfintech.com/blog/rise-of-wearables-in-payments-and-banking/">wearables</a> such as bracelets, rings, and watches linked to debit card accounts served as a safe, contactless way to transact. These wearables use <a class="link" href="https://m2pfintech.com/blog/nfc-payments-simplifying-payment-space/">Near Field Communication</a> technology to process transactions in real-time, making payments quickly and easily.</p><h3 class="heading-node" id="kbveoma2c"><strong>Fast forward to 2023</strong></h3><p class="text-node" id="dg2dydgkb">As of January 2023, there were over 945 million active debit cards in India. Industry experts predict that the usage of debit cards in the country will continue to grow, with an estimated increase of 84.6 million cards by 2028.</p><p class="text-node" id="5nrd57wby">Banks issue various <a class="link" href="https://m2pfintech.com/blog/debit-card-issuance-101-all-you-need-to-know/">types of debit cards</a> based on the payment platform, technology, and usage. They offer banks an excellent opportunity to cater to diverse needs and expand their customer base.</p><p class="text-node" id="2v6tg8gzh">But, here comes a crucial question.</p><p class="text-node" id="f9g13gkfm"><strong>Are banks using the right debit card stack?</strong></p><p class="text-node" id="y730l4bdx">You’ll know if you continue reading.</p><p class="text-node" id="vmr0xh380">Traditional banks use legacy debit card management systems with limitations that inhibit the capability of the bank to innovate, scale, and grow. Here’s a quick look into the bottlenecks that hinder banks from delivering the best experience to customers.</p><h2 class="heading-node" id="yhwpo2fqf"><strong>Bottlenecks in legacy DCMS</strong></h2><ul class="list-node" id="8q6zo3njp"><li><p class="text-node" id="pirlhhmen"><strong>Scalability </strong>can be a significant issue since traditional systems are monolithic and difficult to scale horizontally.</p></li><li><p class="text-node" id="tut05c6pn"><strong>Use of multiple vendors</strong> for different stages of the debit card management process leads to delays in the card issuance process and quality control issues.</p></li><li><p class="text-node" id="lfhli2gkz"><strong>High maintenance costs </strong>are a key problem faced while using a traditional DCMS, as they are complex and require additional resources and time-consuming operations.</p></li><li><p class="text-node" id="g2o2pe23q"><strong>Inflexibility</strong> of legacy systems causes delays in system upgrades and makes it challenging for banks to keep up with technological advancements.</p></li><li><p class="text-node" id="bb0aa3o08"><strong>Lack of integration</strong> between systems leads to delays, errors, and fraud.</p></li></ul><p class="text-node" id="yzetadznk">To overcome these bottlenecks, banks need to transition to modern and innovative DCMS, which provides optimal customer experience, increases competitiveness, and growth.</p><h2 class="heading-node" id="jtcuynv48"><strong>Traditional vs. Modern Debit Card Management System</strong></h2><img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/05/banner-2.webp" alt="M2P Fintech" title="" width="100%" height="253"><p class="text-node" id="sngb9ubqe">The traditional DCMS was limited in terms of personalization, accessibility, the application process, transaction limits, alert notification, and security. However, with the advancements in technology and changing customer expectations, modern DCMS has transformed the banking experience.</p><p class="text-node" id="zm52pizyu">Modern DCMS offers a greater degree of personalization with options to choose card designs, transaction limits, and even reward programs that suit the needs of customers. Additionally, they offer more accessibility via mobile apps and online platforms, allowing customers to easily manage their accounts and track their expenses.</p><h2 class="heading-node" id="j61fjxrw3"><strong>Modern debit card platform: Introducing M2P DCMS</strong></h2><p class="text-node" id="bia48nlei">M2P DCMS is a 360<strong><em>°</em></strong> card management solution that offers fast, scalable, and customizable debit card capabilities, including product setup, card issuance, inventory management, EFT switch, and card management services.</p><img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/05/banner-3.webp" alt="M2P Fintech" title="" id="fu8fkz06u" width="100%" height="203"><h3 class="heading-node" id="mnpwao2m5"><strong>Key features</strong></h3><ul class="list-node" id="irafdwc04"><li><p class="text-node" id="g2c6fvnsu">Robust API for platform integration</p></li><li><p class="text-node" id="u7g66jdke">Seamless onboarding</p></li><li><p class="text-node" id="q7c2q2h7e">Personalized rewards program</p></li><li><p class="text-node" id="i8nl1bls8">Effective Personal Finance Management (PFM)</p></li><li><p class="text-node" id="vsg68sk4r">Hassle-free reconciliation &amp; settlement</p></li><li><p class="text-node" id="mk7gdnc2l">Intelligent Access Control Server (ACS) System</p></li><li><p class="text-node" id="uw5tec7xm">Inclusive set of inbuilt reports &amp; dashboards</p></li><li><p class="text-node" id="a903f6dot">Inbuilt security &amp; compliance</p></li></ul><h3 class="heading-node" id="bez8ah3y3"><strong>Seamless API integrations</strong></h3><p class="text-node" id="mb4ov3xrq">Our API-driven DCMS offers a flexible and scalable platform for banks to innovate and adapt to changing customer needs and market conditions.&nbsp; Seamless API integration and communication enable easy integration with third-party services, namely Personal Financial Management (PFM) tools, fraud detection software, and loyalty programs. API integration plays a vital role in enabling the following.</p><ul class="list-node" id="1mln0fnna"><li><p class="text-node" id="9timicefz">Real-time data exchange</p></li><li><p class="text-node" id="3vvmqcagw">Automated workflows</p></li><li><p class="text-node" id="ewkys4b6e">Streamlined processes</p></li><li><p class="text-node" id="wl5xrk7vf">Improved data accuracy</p></li><li><p class="text-node" id="jjmqx7fsv">Better customer experience</p></li></ul><p class="text-node" id="xcb5fdiyv">With API integration, customers can access their account data and perform transactions via different modes, namely online portals, and mobile apps. They can also receive real-time notifications of their account activity, namely purchases, withdrawals, and balance updates. Banks are allowed to enhance their offerings and create more personalized experiences for their customers.</p><h3 class="heading-node" id="8s9tdho6k"><strong>Hyper-personalization</strong></h3><p class="text-node" id="tjzigkh2n">Tailoring offers and services to customers based on individual preferences, spending patterns, and other relevant data is very important. It allows banks to create a more personalized customer experience which in turn improves customer satisfaction, loyalty, and engagement. This helps banks to detect and prevent potential security threats and fraudulent activity in real-time. With modern DCMS, banks can take proactive measures to prevent fraud and ensure the security and safety of customer funds.</p><h3 class="heading-node" id="1xgxx92xc"><strong>Security</strong></h3><p class="text-node" id="mxqr3xx50">To deliver differentiated card programs with the utmost security, banks need an advanced DCMS.&nbsp; The security features must be sophisticated to thwart fraud and cyber-attacks. This is where modern DCMS comes in, offering a range of advanced security features such as the following.</p><ul class="list-node" id="rr9fxmt9h"><li><p class="text-node" id="cvjif5gey">Multi-factor authentication</p></li><li><p class="text-node" id="6eud23kcp">Encryption</p></li><li><p class="text-node" id="fbhusaggn">Tokenization</p></li><li><p class="text-node" id="9zib3x6c4">Real-time fraud detection</p></li><li><p class="text-node" id="spe349kbc">AI/ML algorithms</p></li></ul><p class="text-node" id="7dszvv3uh">These systems give users more control over their accounts and enable them to set up alerts and notifications for any suspicious activity, further enhancing the security of their transactions.</p><h3 class="heading-node" id="3d66b1ndk"><strong>Scalability</strong></h3><p class="text-node" id="vpff0clmu">As the number of debit card users continues to grow, it’s important for the system to keep up with the increasing volume of transactions. Modern DCMS offers a highly scalable solution that can easily adapt to accommodate the growth in users and transactions. Advanced technology and architecture such as cloud computing, microservices, and distributed systems are efficient and reliable even as the number of users rises. This scalability ensures that customers can perform transactions without experiencing delays or system downtime, resulting in a seamless and satisfactory user experience.</p><h3 class="heading-node" id="hqqr6bwsj"><strong>Launching multiple products with quick TAT</strong></h3><p class="text-node" id="p7bvwktzx">CMS offers banks and financial institutions faster turnaround time (TAT) for launching new debit card products with innovative features and benefits. Through advanced technology and flexible APIs, DCMS can integrate new products and services into their systems quickly, helping banks to cater to their customer’s evolving needs effectively. This not only keeps banks ahead of the competition but also ensures that customers have access to a wide number of debit card options resulting in faster TAT and greater loyalty and satisfaction.</p><h2 class="heading-node" id="lbq5vn0ay"><strong>Why M2P Debit Card platform?</strong></h2><p class="text-node" id="t55vdir4v">With market-winning features and benefits, M2P DCMS is designed to enhance customer experience and operations for banks. &nbsp;Our agile, cloud-agnostic, cutting-edge platform comes with a modular event-driven architecture for maximum impact.</p><img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/05/banner-4-1.webp" alt="M2P Fintech" title="" width="100%" height="314"><h3 class="heading-node" id="sls36a9b0"><strong>Integration</strong></h3><p class="text-node" id="z79mlkmxu">M2P offers an API-first technology stack that ensures seamless integration across all apps and web portals. Our aim is to offer a fully customizable solution that meets the unique needs of each client.</p><h3 class="heading-node" id="9x0ejowps"><strong>Time-to-Market</strong></h3><p class="text-node" id="40r7x3hgf">We offer end-to-end solutions and in-house capabilities to help you launch your debit card program 5x faster than the competitors. Our streamlined process ensures minimal dependencies, which allows to get your product to market quickly and efficiently.</p><h3 class="heading-node" id="o9mo79wcc"><strong>Cloud Agnostic</strong></h3><p class="text-node" id="yo9la4zzo">Our platform is designed with a cloud-native and cloud-agnostic approach, utilizing the latest micro-services architecture and low code development to ensure a modern and future-proof solution for our clients.</p><h3 class="heading-node" id="7v6i0oki1"><strong>Modular Event-driven Architecture</strong></h3><p class="text-node" id="ck8ftjmgy">Our composable architecture enables banks to run multiple programs concurrently. With this architecture, banks can efficiently manage and scale various programs while ensuring data privacy and security for all parties involved.</p><p class="text-node" id="ydmcbbe9l">Want to know more about deploying a Debit Card Management Solution?</p><p class="text-node" id="oez0so0mz">Reach out to us at <a class="link" href="mailto:business@m2pfintech.com">business@m2pfintech.com</a>.</p><p class="text-node" id="tbpdo2vo7"><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://m2pfintech.com/newsletter/" target="_blank" rel="noreferrer noopener"><strong><em>Subscribe</em></strong></a><strong><em>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.</em></strong></p><p class="text-node" id="hzgh23hky"><strong><em>Follow us on&nbsp;</em></strong><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://www.linkedin.com/company/m2pfintech/mycompany/" target="_blank" rel="noreferrer noopener"><strong><em>LinkedIn</em></strong></a><strong><em>&nbsp;and&nbsp;</em></strong><a class="link fui-Link ___1idfs5o f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh ftqa4ok f2hkw1w fhgqx19 f1olyrje f1p93eir f1h8hb77 f1x7u7e9 f10aw75t fsle3fq f17ae5zn" href="https://twitter.com/m2pfintech" target="_blank" rel="noreferrer noopener"><strong><em>Twitter</em></strong></a><strong><em> for insightful fintech bytes curated for curious minds like you.</em></strong> &nbsp; &nbsp; &nbsp;</p>

Simplify Debit Card Management with M2P's Revolutionary Platform

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/02/Cracking-Tokenization-for-Tabby-Blog-Banner-V3_Fintech-trends-banner-1.webp" alt="M2P Fintech" title="" width="100%" height="253"><p class="text-node" id="97zzqpemu" style="text-align: left">Buy Now, Pay Later (BNPL) has taken the e-commerce world by storm in the past few years. Driving a 30% increase in conversions and an 85% rise in average order value, BNPL has earned merchant confidence and customer trust.</p><p class="text-node" id="0p0dvfzok" style="text-align: left">With 97% smartphone penetration, the UAE is one of the avid adopters of BNPL and contactless payments in the Middle East. Tabby Pay is a leading BNPL platform in the UAE that caters to over two million buyers and 4000 top brands and small businesses. Tabby issues virtual cards that customers can activate and use on the Tabby app for free. Shoppers can add the card to their favorite digital wallet and tap at the POS terminal to divide their payments into installments.&nbsp;</p><p class="text-node" id="yogs32kzz" style="text-align: left">But one key issue plagued Tabby’s operation.</p><p class="text-node" id="8q2f4ygmp" style="text-align: left"><strong><em>It was card data security</em></strong>.</p><p class="text-node" id="8ift4pb1d" style="text-align: left">Let us quickly give you more context on the challenge.&nbsp;&nbsp;</p><p class="text-node" id="2k557df1j" style="text-align: left">As a tech-savvy population, the UAE residents are not fans of using physical cards while shopping. Contactless cards and mobile wallets like Apple Pay are preferred options for a frictionless payment experience.</p><p class="text-node" id="gaqb5n2s7" style="text-align: left">In fact, over 80% of consumers in the UAE prefer using iPhones and other Apple services and gadgets over Google and Android. So, when they receive a new card from Tabby, they add it to the Apple wallet on their iPhones to tap and pay using NFC.&nbsp;</p><p class="text-node" id="im8kinggc" style="text-align: left">Now, security is a critical concern in this digital era. Even though contactless payments have one of the lowest fraud instances, there is still a fair possibility of card data and sensitive information getting stolen and misused. Data breaches could cost companies millions and billions in losses.&nbsp;&nbsp;</p><p class="text-node" id="a22vib5pj" style="text-align: left">To avoid these vulnerabilities and to keep cardholder data safe, Tabby&nbsp;enabled tokenization for Google, Android, and Apple wallets. Now Tabby’s payments run on M2P prepaid stack. And we also handled the responsibility of tokenization for the BNPL player.&nbsp;</p><h2 class="heading-node" id="4yxyxvp76" style="text-align: left">What is Tokenization?</h2><p class="text-node" id="ktxdghv5p" style="text-align: left">Tokenization is a security process that helps protect&nbsp;card data by masking the card account number with a single use randomized alphanumeric character of the same length called a token. Associated with a card, platform, or device, the payment tokens are issued in real-time and used during payment, after which they are discarded. To know more about payment tokenization, <a class="link" href="https://m2pfintech.com/blog/how-does-payment-tokenization-work/">click here.</a>&nbsp;</p><p class="text-node" id="jpz3nybzm" style="text-align: left">In mobile wallets, a single card can have multiple unique tokens associated with specific shopping channels and issuing banks. Token Service Providers (TSPs) play a significant role in managing the lifecycle of a token via statuses such as requested, active, inactive, suspended, and ended.&nbsp;</p><h2 class="heading-node" id="n5xh14nzp" style="text-align: left">How M2P Cracked Tokenization for Apple Wallet?</h2><p class="text-node" id="zmz7jlx4y" style="text-align: left">M2P acted as the Issuer Token Service Provider (ITSP) and processed the authentication layer for Tabby, which included demographic checks, card authentication, and issuer configuration. Our ITSP solution has been designed to do all the heavy lifting of the tokenization process and makes life simpler for the issuer when it comes to program management, technology, security, compliance, reporting, and token Life cycle management, among many others. Even the rules were made configurable as per issuer convenience.</p><p class="text-node" id="q6bacr81u" style="text-align: left">Handling tokenization protocols for Google and Android wallets is simpler when compared to Apple wallets. The Apple wallet tokenization process is complex and challenging as there are multiple stringent protocols that are difficult to understand and comply with.&nbsp;</p><p class="text-node" id="mbcpfwdh8" style="text-align: left">To activate tokenization for prepaid cards, we had to enable seamless integration between the card payment network - Visa, BNPL player - Tabby, and the digital wallet provider - Apple/Google/Samsung. As backend integrations are our stronghold, we managed the process without hassles. Our existing Visa certification gave us further edge in managing tokenization with ease.&nbsp;</p><p class="text-node" id="jkwudupst" style="text-align: left">Here is a glimpse into how tokenization would happen every time a customer adds the Tabby Card to the Pay wallet.&nbsp;</p><ul class="list-node" id="05pae3esr"><li><p class="text-node" id="6w7hz6xv0" style="text-align: left">When a customer adds a Tabby card to their Apple/Google/Samsung wallet, the request is sent from Visa’s in-app SDK in the Tabby Mobile Application to the Visa network. For this, all the secure data required for the request is sent as a secure message from M2P to Tabby with a unique message identifier.&nbsp;</p></li><li><p class="text-node" id="6dosyrx2o" style="text-align: left">Visa, the Token Service Provider, identifies the Bank Identification Number (BIN) from the payload (through their Visa SDK) and sends it to the issuer processor.&nbsp;</p></li><li><p class="text-node" id="zoj20c9ly" style="text-align: left">M2P is the Issuer processor (also, a token service provider) that authenticates the card details along with the identity of the cardholder.&nbsp;</p></li><li><p class="text-node" id="2b1145z3e" style="text-align: left">Then, M2P instructs Visa to issue or not issue tokens. Visa acts in accordance to the instructions and sends the token information to the digital wallet to store&nbsp;</p></li><li><p class="text-node" id="sqqwy2h64" style="text-align: left">M2P keeps Tabby updated on everything (every step involved in the token creation process as a notification) happening throughout the process.&nbsp;</p></li><li><p class="text-node" id="43v8oytpa" style="text-align: left">The tokenized cards can now be used by cardholders without their card information getting exposed.&nbsp;</p></li></ul><p class="text-node" id="zcv3613ag" style="text-align: left">The process is done only for the first time when the customer adds the card to any digital wallet/ wearables. Once complete, the cardholder can use the card for any purpose with total and seamless control over the card.&nbsp;</p><p class="text-node" id="ahu12weqj" style="text-align: left">M2P ITSP solution not only makes the tokenization process simpler but also helps Tabby provide the necessary reports to Apple and Visa on all the required information by the latter.&nbsp;</p><p class="text-node" id="j4uot78x9" style="text-align: left">If you want to know more about tokenization, and how it can help your business?&nbsp;</p><p class="text-node" id="qy5tgneo1" style="text-align: left">Write to us at <a class="link" href="mailto:business@m2pfintech.com">business@m2pfintech.com</a>.&nbsp;</p><p class="text-node" id="w2agoql0c" style="text-align: left"><a class="link" href="https://m2pfintech.com/newsletter/" target="_blank" rel="noopener"><strong><em>Subscribe</em></strong></a><strong><em>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.</em></strong></p><p class="text-node" id="zt79jfon9" style="text-align: left"><strong><em>Follow us on&nbsp;</em></strong><a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/" target="_blank" rel="noopener"><strong><em>LinkedIn</em></strong></a><strong><em>&nbsp;and&nbsp;</em></strong><a class="link" href="https://twitter.com/m2pfintech" target="_blank" rel="noopener"><strong><em>Twitter</em></strong></a><strong><em>&nbsp;for insightful fintech tales curated for curious minds like you.</em></strong></p>

Cracking Tokenization for BNPL Player Tabby

<p class="text-node" id="54ceow2cj"><img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/01/Medium-2.webp" alt="M2P Fintech" title="" id="il8fa0frb" width="100%" height="763"></p><p class="text-node" id="3hnhgqxeb">Businesses record revenues and expenses every day. Ever wondered why it is important to accurately document these transactions?</p><p class="text-node" id="p9qq2eojx">Maintaining accurate financial records is critical to the success of any business. It helps the management make informed accounting decisions and ensures a strong base for growth and operations. Payment reconciliation secures the financial health of a business.</p><p class="text-node" id="qzf87lmer">In the next few minutes, you will learn what payment reconciliation is all about, why it matters, its benefits, M2P’s Recon360, why it is a game changer, and how it works.</p><p class="text-node" id="ac449hygj">Let’s dive in!</p><h2 class="heading-node" id="c692iadj7"><strong>What is Payment Reconciliation? Why does it Matter?</strong></h2><p class="text-node" id="6psagb4f4">Payment reconciliation is a process that ensures the accuracy of financial records by matching them with bank statements and world-leading interchanges, viz., transaction processing switches and core banking solutions. It is essential for businesses to ensure that every transaction is properly recorded and up-to-date. In today's age of digital payments, businesses are handling multiple payment gateways, interchange reports, settlement vouchers, and bank financial postings across different partners and touchpoints. Thus, it is imperative to keep track of all income and expenses for sound financial health.</p><p class="text-node" id="mmhn01kjo">Businesses must balance their payments on a cycle and time zone-based reconciliation. It is a vital aspect of bookkeeping that ensures the integrity of financial records. This process must be performed regularly for data accuracy and compliance with financial regulations.</p><h2 class="heading-node" id="kqn6ucejv"><strong>Benefits of Payment Reconciliation</strong></h2><p class="text-node" id="toeav27w7">Frequent, regular, and automated payment reconciliation offers the following benefits.</p><ul class="list-node" id="tf6p5m0yi"><li><p class="text-node" id="057h7qd6r">Identifies and resolves errors in financial records</p></li><li><p class="text-node" id="ghelq5ysm">Tracks late or unpaid invoices</p></li><li><p class="text-node" id="hawp4ugzy">Helps maintain accurate financial records</p></li></ul><h3 class="heading-node" id="imxff9564"><strong>Identifies and resolves errors in financial records</strong></h3><p class="text-node" id="7ka3cvxcx">Payment reconciliation detects bookkeeping errors and unauthorized payments. By comparing internal and external records, businesses can identify discrepancies early on and quickly resolve issues related to cash flow or security breaches. This prevents fraud and ensures the financial stability and health of a business.</p><h3 class="heading-node" id="j617aalc8"><strong>Tracks late or unpaid invoices</strong></h3><p class="text-node" id="swooabwwv">Reconciling payments on a regular basis helps businesses stay on top of late or unpaid invoices. Businesses can identify missed or delayed payments by comparing internal and external records and take action to follow up and collect them. The process not only saves effort and time but also prevents financial stress.</p><h3 class="heading-node" id="7bbllei6z"><strong>Helps maintain accurate financial records&nbsp;</strong></h3><p class="text-node" id="nwvbtnmza">To make data-driven decisions, accurate financial records are a must-have. By reconciling payments regularly, businesses ensure that their financial records are accurate and up-to-date. Reconciliation demonstrates financial stability when there is a need to secure investments or loans. It also supports regulatory compliance and prevents legal repercussions.</p><h2 class="heading-node" id="nh8rexmnu"><strong>How Payment Reconciliation Works?</strong></h2><p class="text-node" id="obk25hkvp">Payment reconciliation involves matching financial records with those from a bank, internet banking, NEFT, RTGS, and AEPS, for thoroughness and accuracy. By using a bank feed, the finance team can easily compare and verify payments made against accounts, thus maintaining accurate financial records. Payment reconciliation comprises two processes, viz., internal and external.</p><h3 class="heading-node" id="ln5z8t7hn"><strong>Internal Reconciliation</strong></h3><p class="text-node" id="43hieztr2">Maintaining accurate records of transactions can be done using internal sources such as accounting software, spreadsheets, and other record maintenance systems. Some businesses keep physical copies of receipts, invoices, and billing paperwork as a means of maintaining records. However, this physical method could be prone to human error and may not be as reliable as digital record-keeping. Choosing the right internal reconciliation method is crucial, as it could involve harmonizing physical and digital records.</p><h3 class="heading-node" id="evguoznb2"><strong>External Reconciliation</strong></h3><p class="text-node" id="5i4a9f3t8">External reconciliation relies on transaction data coming in from external sources like bank statements that hold details of incoming and outgoing cash flow. As these statements are digitally generated and contain critical data pertaining to payments, they are reliable for accounting and reconciliation needs.</p><h3 class="heading-node" id="3xqe1i26g"><strong>Matching Internal with External</strong></h3><p class="text-node" id="1p91yynn6">As an ideal practice, businesses must match and cross-check internal and external records to reconcile the transactions. Entries in internal reconciliation should match those from external reconciliation. If there are discrepancies, businesses must get to the root of it to identify and resolve errors or breaches, if any.</p><h2 class="heading-node" id="emp5l9908"><strong>Types of Payment Reconciliation</strong></h2><p class="text-node" id="oy36bsuas">Depending on the complexity and transaction type, the payment reconciliation process can differ from one business to another. Here are common types of payment reconciliation companies follow.</p><h3 class="heading-node" id="cf0nbifgi"><strong>Rule-based reconciliation</strong></h3><p class="text-node" id="9h4q69yl3">The rule-based reconciliation process is automated and uses predefined criteria or rules to match transactions between different accounts. These rules are programmed into the system, and the software automatically verifies matches and exceptions based on these rules. This method is highly efficient, saves time, and reduces errors compared to manual reconciliation methods. It can be customized to fit specific business needs, as the rules can be modified and updated as needed. One flexible approach to rule-based reconciliation is relaxed matching. Instead of deploying strict rules, it allows for some level of deviation or tolerance in certain parameters such as date and amount. This approach is less accurate, much faster, and needs less manual intervention. It is often used in high-volume and low-value transactions where speed and efficiency are prioritized over absolute accuracy.</p><h3 class="heading-node" id="pothdb3so"><strong>Card reconciliation</strong></h3><p class="text-node" id="mco0hl14a">Accountants use the card reconciliation method to compare credit or debit card statements to General Ledger (GL) accounts. It must be ensured that the information on a credit card bill and the information represented on the GL are consistent, as every business transaction is recorded within the GL and vice versa.</p><h3 class="heading-node" id="30lrzycdj"><strong>Cash reconciliation</strong></h3><p class="text-node" id="8tza546bf">Cash reconciliation is used to verify the usage of cash from the register. The purpose of cash reconciliation is to ensure that the recorded cash balances and the bank statements match up. The cash reconciliation method enables businesses to detect inconsistencies and pinpoint the areas where the ledger and statement do not match up.</p><h3 class="heading-node" id="smzbl80w6"><strong>Digital wallet reconciliation</strong></h3><p class="text-node" id="4icfo6ifd">The process of digital wallet reconciliation is similar to credit card reconciliation. The only difference is the mode of payment. It is recommended to report payments received via digital wallets separately. That way they can be compared with the necessary merchant reports to ensure that records are accurate and the numbers on statements make sense<strong>.</strong></p><h3 class="heading-node" id="6lm630sk5"><strong>Real-time automatic payment reconciliation</strong></h3><p class="text-node" id="byciq1kxf">Automated payment reconciliation can accelerate month-end accounting close, reduce errors, and improve cash flow control. The ability to handle live transaction data is provided by real-time reconciliation for banks and other financial institutions.</p><h2 class="heading-node" id="kkee8uxpt"><strong>Challenges in Payment Reconciliation</strong></h2><p class="text-node" id="ncrffwb4z">Payment reconciliation is imperative for any business. However, it comes with its own set of challenges. These challenges range from simple errors to more complex issues that can cause significant financial losses.</p><h3 class="heading-node" id="3d5w4wo5a"><strong>Manual processes</strong></h3><p class="text-node" id="115b8q3hm">Manual processes are prone to errors and time-consuming, thereby slowing down the reconciliation process. When transactions are recorded and reconciled manually, there is a greater risk of incorrect dates, transposed numbers, and other inaccuracies. Manual processes also make it difficult to keep up with the volume of transactions and identify discrepancies.</p><h3 class="heading-node" id="wr6ruhh5h"><strong>Data discrepancies</strong></h3><p class="text-node" id="6b2fu812o">With multiple payment partners and different types of financial transactions, it can be difficult to ensure that all the data received is consistent and in a similar format. When data from disparate sources are not consistent, it can be difficult to match transactions between different accounts. Inconsistent data that lacks standardization can lead to processing delays, inaccurate reporting, and erroneous reconciling. It can also cause difficulty in achieving compliance and identifying frauds and breaches.</p><h3 class="heading-node" id="gfcp9fiht"><strong>Lack of visibility and control</strong></h3><p class="text-node" id="i83knif3c">In today's fast-paced business environment, real-time data visibility and transparency in financial reporting are must-haves. However, several businesses still depend on manual spreadsheet-based processes for reconciliation, which results in inaccuracies, lack of control, and visibility. This negatively impacts credibility, strategic decisions, and long-term success.</p><p class="text-node" id="cw8osenru">To resolve the challenges explained above, several businesses are turning to automation and the use of best-in-class account or payment reconciliation software.</p><h2 class="heading-node" id="k69bej3lp"><strong>How can businesses choose the best Payment Reconciliation solution?</strong></h2><p class="text-node" id="ufg4rv7so">Before choosing a reconciling solution, businesses must answer 3 crucial questions.</p><ol class="list-node" id="l9gin5cmh"><li><p class="text-node" id="annztiisj"><em>Is it platform agnostic?</em></p></li><li><p class="text-node" id="i0q5c17ck"><em>Does it track and monitor real-time transactions?</em></p></li><li><p class="text-node" id="2e5p3zv3u"><em>Does it offer best-in-class data security measures?</em></p></li></ol><p class="text-node" id="wl24dwj0j">M2P’s Recon360 offers all this and more!</p><h2 class="heading-node" id="6f41len3j"><strong>RECON360 – Redefining Payment Reconciliation</strong></h2><p class="text-node" id="by1tjhh74">Recon360 is a complete solution for reconciling payments using automated data matching and instant monitoring of multiple transactions. The solution maintains financial records accurately and can be deployed seamlessly.</p><h3 class="heading-node" id="m3t0mpf4o"><strong>Key Features</strong></h3><ul class="list-node" id="08uahal9i"><li><p class="text-node" id="3f6dyen6i">Automated, flexible, with extended data matching</p></li><li><p class="text-node" id="2fq6n1xyr">Cloud &amp; dataset agnostic</p></li><li><p class="text-node" id="xdtw4lv3n">Seamless deployment</p></li><li><p class="text-node" id="y9edwnzwx">Data qualification &amp; insight</p></li><li><p class="text-node" id="9tsutzl29">Multi behavior system</p></li><li><p class="text-node" id="juybppoxx">Automatic exception management</p></li><li><p class="text-node" id="koyn05iui">Dynamic reporting engine</p></li><li><p class="text-node" id="lrs56h1ws">Instant regulatory compliance</p></li></ul><p class="text-node" id="0e87keufd">We also offer best-in-class features for business end users, that includes a dynamic reporting engine, dispute resolution, and exception handling to cut operating costs and achieve business goals.</p><p class="text-node" id="egh2n45z5">Want to make payment reconciliation work for you? Recon360 is the answer!</p><p class="text-node" id="zhm1h7zwr">Write to us at <a class="link" href="mailto:business@m2pfintech.com">business@m2pfintech.com</a> to get started!</p><p class="text-node" id="a26w3qolk"><a class="link" href="https://m2pfintech.com/newsletter/" target="_blank" rel="noopener"><strong><em>Subscribe</em></strong></a><strong><em>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.</em></strong></p><p class="text-node" id="wzvf7lkzh"><strong><em>Follow us on&nbsp;</em></strong><a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/" target="_blank" rel="noopener"><strong><em>LinkedIn</em></strong></a><strong><em>&nbsp;and&nbsp;</em></strong><a class="link" href="https://twitter.com/m2pfintech" target="_blank" rel="noopener"><strong><em>Twitter</em></strong></a><strong><em>&nbsp;for insightful fintech tales curated for curious minds like you.</em></strong></p>

Recon360 - Redefining Payment Reconciliation

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2023/01/Fintech-trends-banner-2.webp" alt="M2P Fintech" title="" width="100%" height="358"><p class="text-node" id="uoco8pqmf" style="text-align: justify"></p><p class="text-node" id="qbial28je" style="text-align: justify">2022 was a rollercoaster for the fintech industry. Macroeconomic upheavals, intensifying competition, and regulatory headwinds contributed to the great fintech reset. However, with advances in technology innovation, increasing digital adoption, and improving public infrastructure, the industry overcame hurdles and emerged stronger. Swimming against the tide with turnaround strategies and course corrections, fintech businesses collaborated, consolidated, and diversified to enable sustainable and accessible financial solutions without compromising on people, compliance, and growth. </p><p class="text-node" id="2o08dpbhv" style="text-align: justify">Now, the future of fintech is bright. Blurring boundaries and transforming the way people transact, fintech has been a beacon of hope to many. People across all walks of life and in remote corners without access to fancy smartphones and devices have been able to access digital banking and financial services just by using biometrics and other fintech-led payments. Fintech companies have played a phenomenal role in facilitating this financial inclusion without greater emphasis on security, speed, or convenience. </p><p class="text-node" id="l0jjofqnb" style="text-align: justify">Valued at around $132 billion in 2022,&nbsp;the fintech industry is estimated to grow at 25% CAGR to reach <a class="link" href="https://www.marketdataforecast.com/market-reports/fintech-market">$324 billion</a> in 2027. The ability to improve accessibility, drive inclusion, enhance customer experience, and reduce costs are key drivers behind the growth projection.&nbsp;&nbsp;<a class="link" href="https://m2pfintech.com/blog/future-of-core-banking-systems/">Core Banking</a>, <a class="link" href="https://m2pfintech.com/blog/rbis-new-digital-lending-guidelines-will-it-be-a-game-changer/">Digital Lending</a>, <a class="link" href="https://m2pfintech.com/blog/factors-and-psychology-behind-the-great-bnpl-allure/">Buy Now Pay Later</a> (BNPL), <a class="link" href="https://m2pfintech.com/blog/upi-the-driver-of-economic-growth-and-inclusion/">Unified Payments Interface (UPI),</a> Credit Cards, and other <a class="link" href="https://m2pfintech.com/blog/ready-to-sneak-peek-into-global-cashless-societies/">Cashless</a> Payment modes dominated markets, while Blockchain emerged resilient with RBI adopting the technology for CBDC. Collaborations, consolidations, and platformizations last year set a great tone for 2023.</p><h2 class="heading-node" id="qp5iitvs9" style="text-align: justify"><strong>Trends we can expect in 2023</strong></h2><p class="text-node" id="8nygqq1xc" style="text-align: justify">Consistent customer-centric innovations, partnerships between banks and fintechs, regulatory interventions, and better accessibility - all point towards a promising future for fintech. </p><p class="text-node" id="fdjm34ap3" style="text-align: justify">Here are a few trends we can expect to see in 2023.</p><ul class="list-node" id="jxu8ecnrq"><li><p class="text-node" id="nl0ml75x2" style="text-align: justify"><a class="link" href="#embeddedfinance">Embedded Finance</a></p></li><li><p class="text-node" id="wprf1gznt" style="text-align: justify"><a class="link" href="#sf">Sustainable Fintech</a></p></li><li><p class="text-node" id="rlbwh7dbl" style="text-align: justify"><a class="link" href="#af">Alternative Financing</a></p></li><li><p class="text-node" id="y6udj85ak" style="text-align: justify"><a class="link" href="#sa">Super Apps</a></p></li><li><p class="text-node" id="f185edn4d" style="text-align: justify"><a class="link" href="#ai">Artificial Intelligence</a></p></li><li><p class="text-node" id="nvk5fweg4" style="text-align: justify"><a class="link" href="#cp">Contactless Payments</a></p></li><li><p class="text-node" id="99008uhmk" style="text-align: justify"><a class="link" href="#bc">Blockchain</a></p></li><li><p class="text-node" id="d2v00g8a2" style="text-align: justify"><a class="link" href="#mv">Metaverse</a></p></li></ul><h3 class="heading-node" id="embeddedfinance" style="text-align: justify"><strong>1. Embedded Finance &nbsp;</strong></h3><p class="text-node" id="k2n6f8td4" style="text-align: justify"><a class="link" href="https://m2pfintech.com/blog/embedded-finance-101-the-bridge-connecting-tech-and-financial-services/">Embedded finance</a> will see exponential growth in 2023 with emerging models that will help businesses thrive. Valued at over <a class="link" href="https://www.simon-torrance.com/blog/EmbeddedFinance1#:~:text=Embedded%20Finance%20offers%20one%20of%20the%20most%20exciting,value%20of%20the%20world%E2%80%99s%20top%20thirty%20banks%20today.">7 trillion-dollar</a>, embedded finance enables smooth integration of financial services into non-financial platforms or applications. Subsets of embedded finance viz., embedded credit, embedded payments, embedded insurance, and embedded banking will majorly benefit SMEs, MSMEs, and other app-based businesses by helping them scale product offerings and customer lifetime value while monetizing their customer base. As the embedded finance space grows, businesses will have the leeway to lower expenses, increase revenue streams, and innovate to deliver personalized, customer-centric products and services, while fintechs handle the heavy lifting on technology, compliance, and delivery.</p><h3 class="heading-node" id="sf" style="text-align: justify"><strong>2. Sustainable Fintech</strong></h3><p class="text-node" id="eaom2irc9" style="text-align: justify">As the world heads towards net-zero and decarbonization by 2030, fintechs need to take sustainability seriously. In 2023, financial health, <a class="link" href="https://m2pfintech.com/blog/how-m2p-maps-sustainability-with-finance/">sustainable practices,</a> and environmental well-being will be deeply interconnected. A recent Eurogroup survey shows us that 67% of consumers demand sustainability engagement from their bank. &nbsp;And according to a study by Cornerstone Advisors, 70% of Gen-Z and Millennial consumers wanted to track their carbon footprint. Customers are eager to understand how their spending habits affect climate change and if their financial service provider invests in businesses that harm the environment. Being transparent with sustainability practices, incentivizing sustainable engagement, and introducing metrics to track climate impact, could be starting steps to transform businesses into <a class="link" href="https://m2pfintech.com/blog/climate-fintech-fintechs-leading-the-green-tech/">green powerhouses</a>.</p><h3 class="heading-node" id="af" style="text-align: justify"><strong>3. Alternative Financing &nbsp;</strong></h3><p class="text-node" id="xk9br1ebd" style="text-align: justify">There was a time when traditional financial players dominated the lending industry. But those times are changing now. Secure alternative financing options from non-banking fintech companies are emerging rapidly. In fact, the alternative financing industry is valued at <a class="link" href="https://www.grandviewresearch.com/industry-analysis/alternative-financing-market-report">$6.62 billion</a> and is expected to grow at 20% in 2023. The lending industry is democratized with co-lending business models to serve versatile customers, SMEs, MSMEs, and businesses across size and scale.&nbsp;With more core lending players entering the game, evolving regulatory frameworks, and a vast consumer base in need and with access to equitable financial instruments, the alternative financing market is ripe for the taking.</p><h3 class="heading-node" id="sa" style="text-align: justify"><strong>4. Super Apps&nbsp;</strong></h3><p class="text-node" id="x9uyts2wb" style="text-align: justify">2023 will the year for <a class="link" href="https://m2pfintech.com/blog/super-apps-in-consumer-banking-what-role-does-open-banking-play/">super apps</a>. It will be the swiss army knife for businesses as it consolidates multiple applications and eliminates the need for customers and employees to toggle between disparate applications. Just one super app will be able to provide enhanced mobile-first experiences across an aggregated range of services for the growing digital-native generation. Gartner predicts that by 2027, more than 50% of the global population will be active users of super apps. So, it's high time financial businesses leverage the first-mover advantage and develop super apps that fuses the beneficial attributes of an app, platform and digital ecosystem.</p><h3 class="heading-node" id="ai" style="text-align: justify"><strong>5. Artificial Intelligence (AI)</strong></h3><p class="text-node" id="p66059sbz" style="text-align: justify">High on data and customer experience, fintech industry will rely heavily on AI for analytics, decision-making, and customer support. Facilitating seamless onboarding, compliance, product customizations, and payments, AI will be the game changer that reduces overhead cost and operational risk along with improving security, and sorting legacy issues. Valued at <a class="link" href="https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-in-fintech-market-report">$9.4 bn</a>, <a class="link" href="https://m2pfintech.com/blog/how-is-ai-changing-the-financial-industry-top-6-use-cases-in-fintech-and-banking/">AI in fintech</a> holds a 16.5% growth potential. And Machine Learning (ML)-based models have been adopted by companies in the financial space to ace real-time target marketing and risk management. </p><p class="text-node" id="pxw3bk3s3" style="text-align: justify">But here’s the billion-dollar question. Will AI ever replace humans in fintech? </p><p class="text-node" id="wre5ujp5p" style="text-align: justify">We don’t think so. &nbsp;Complement yes. But not replace.</p><h3 class="heading-node" id="cp" style="text-align: justify"><strong>6. Contactless Payments</strong></h3><p class="text-node" id="innnwkzhi" style="text-align: justify">The pandemic made contactless payments and shopping the new norm. And there’s no turning back from there.&nbsp; Offering immense speed, security, hygiene, and convenience, technologies like NFC, RFID, and QR codes have simplified checkouts and have taken the payments industry by storm. Valued at $2.2 bn, the contactless payments market is expected to grow at 20% CAGR to reach <a class="link" href="https://www.businesswire.com/news/home/20220106005590/en/The-Worldwide-Contactless-Payment-Industry-is-Expected-to-Reach-12.6-Billion-by-2030---ResearchAndMarkets.com">$12 bn</a> by 2030. As research firms predict exponential growth in wearables, smart devices and contactless cards, fintechs must keep up with the demand for contactless payments.</p><h3 class="heading-node" id="bc" style="text-align: justify"><strong>7. Blockchain</strong></h3><p class="text-node" id="r1r1i00ei" style="text-align: justify">The future of <a class="link" href="https://m2pfintech.com/blog/blockchain-and-fintech-use-cases-and-applications/">blockchain</a> is solid despite setbacks like the crypto crash. Its inherent strength in security, transparency, speed, cost efficiency, and efficient storage will play out as Web3 and <a class="link" href="https://m2pfintech.com/blog/central-bank-digital-currency-cbdc-101-a-primer/">CBDC</a> adoption increases. Blockchain-based data sharing, smart contracts, payment tracking, peer-to-peer lending, encryptions, decentralized architectures and ecosystems, and cybersecurity will be key emerging trends in 2023. The fintech blockchain market size is expected to hit <a class="link" href="https://www.marketsandmarkets.com/Market-Reports/fintech-blockchain-market-38566589.html#:~:text=The%20FinTech%20blockchain%20market%20is%20expected%20to%20grow,Rate%20%28CAGR%29%20of%2075.9%25%20during%20the%20forecast%20period.">$6.2 mn</a> by the end of 2023. So, it's high time fintechs give blockchain some mndspace.</p><h3 class="heading-node" id="mv" style="text-align: justify"><strong>8. Metaverse</strong></h3><p class="text-node" id="22x7l8o21" style="text-align: justify">Sparking some of the hottest tech discussions, metaverse shook the world with its decentralized, community-owned, virtual utopia. &nbsp;Though in the early developmental stages, metaverse is considered to be the next big evolution in the world of fintech, with the potential to transform how people work, shop, live, and transact. According to a recent Goldman Sachs research, metaverse could give rise to a <a class="link" href="https://newseu.cgtn.com/news/2022-06-13/Metaverse-valued-at-12-trillion-a-year-to-the-global-economy-1aKNYwIjyp2/index.html">$12 trillion</a> virtual economy with intense activity around cross-border payments, financial assets creation, safekeeping and trading. Leveraging Virtual Reality (VR) and Augmented Reality (AR), this virtual phenomenon enables fun and personalized banking and transactions. But the flipside of metaverse is the security concerns that may arise, which if addressed will hold massive promises for the fintech industry. </p><p class="text-node" id="s7h19v7i1" style="text-align: justify">With this we conclude our fintech trends for 2023. While it is challenging to predict exactly how fintech will unfold, we can say with reasonable certainty that 2023 will be an interesting one for the industry, India, and the world. </p><p class="text-node" id="ieov78zod" style="text-align: justify">What do you think of these trends? Let us know in the comments! </p><p class="text-node" id="8qbcuyb1z" style="text-align: justify">Have a great 2023! Stay connected for the latest fintech news, views, updates, and more.</p><p class="text-node" id="dtuevldkt" style="text-align: justify"><a class="link" href="https://m2pfintech.com/newsletter/"><strong><em>Subscribe</em></strong></a><strong><em>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.</em></strong> </p><p class="text-node" id="rqu7h2ojt" style="text-align: justify"><strong><em>Follow us on&nbsp;</em></strong><a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/"><strong><em>LinkedIn</em></strong></a><strong><em>&nbsp;and&nbsp;</em></strong><a class="link" href="https://twitter.com/m2pfintech"><strong><em>Twitter</em></strong></a><strong><em>&nbsp;for insightful fintech tales curated for curious minds like you.</em></strong></p>

8 Fintech Trends to Look Out for in 2023

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/11/BNPL-Issuer-Th.webp" alt="M2P Fintech" title="" width="100%" height="296"><p class="text-node" id="jo1or6lja">The global ecommerce payments industry is constantly evolving to adapt to the ever-changing needs of the customer. With the pandemic fueling digital commerce, flexible payment options have become an element of convenience in online shopping. What started with basic debit/credit card payments now includes internet banking, e-wallets, Buy Now Pay Later (BNPL), EMI, and more. Among these, <a class="link" href="https://m2pfintech.com/blog/factors-and-psychology-behind-the-great-bnpl-allure/" target="_blank" rel="noopener">BNPL</a> is one of the most popular payment choices as it enhances the customers’ purchasing power.</p><h2 class="heading-node" id="vhq15h9fq"><strong>BNPL Footprint in India</strong></h2><p class="text-node" id="aqhfr5l7f">India is a budget-driven country, and BNPL is where financial inclusion meets budgeting. The country’s association with <a class="link" href="https://m2pfintech.com/blog/bnpl-the-rising-fintech-star/" target="_blank" rel="noopener">BNPL</a> has been on an upward trajectory since 2021, owing to the rising adoption of ecommerce platforms among the country’s large youth demographic. Currently, India has around 20–25 million BNPL users, and it is likely to reach 100 million by 2026, given the magnitude of its demand and inclusivity.&nbsp;</p><h2 class="heading-node" id="8dowitkj2"><strong>Challenges for BNPL Issuers</strong></h2><p class="text-node" id="i4lwu4wa8">In recent years, competition in the BNPL space has intensified, with incumbents going beyond their horizons to develop new, sustainable business models and traditional payments companies deploying their own models to stay relevant in the market. This not only unlocked the purchasing power and helped customers manage their finances by accessing affordable and low-cost credit, but also expanded the market for BNPL products. </p><p class="text-node" id="byg4xzcre">On the other hand, the vying put significant pressure on the <a class="link" href="https://m2pfintech.com/blog/six-profitable-bnpl-business-models-to-unlock-infinite-value/" target="_blank" rel="noopener">BNPL</a> companies to scale quickly. The role of BNPL lenders does not stop with just issuing credit lines to consumers. They ought to partner with fitting merchants and large aggregators to offer appropriate payment plans, empowering smooth transactions and superior customer experience. </p><p class="text-node" id="9eb0lsg3i">Let’s look at the challenges that every <a class="link" href="https://m2pfintech.com/blog/how-can-lenders-overcome-challenges-in-deploying-bnpl-solutions/" target="_blank" rel="noopener">BNPL</a> issuer must manage/address immediately.</p><ul class="list-node" id="8qvy9xw6r"><li><p class="text-node" id="ju2ofxk2o">Onboarding of multiple merchants and aggregators</p></li><li><p class="text-node" id="jsquove5h">Customizing solutions for each merchant based on ticket size and lending rules</p></li><li><p class="text-node" id="tgts7ckpm">Managing end-to-end transactions such as billing, settlements, and refunds</p></li><li><p class="text-node" id="x1rlghi2i">Understanding the payment flow to increase the success rate</p></li><li><p class="text-node" id="lzuv7l9d8">Handling schemes, promotions, and subventions</p></li><li><p class="text-node" id="j8wamkr8h">Analyzing and managing risks</p></li><li><p class="text-node" id="wqf64nhub">Integrating multiple stakeholders to enable a number of checkout options</p></li></ul><p class="text-node" id="8ol0cxoec">Partnering and working with a fintech that has a deep understanding of the market can help BNPL issuers set up the right mix of merchants and aggregators, which is the key to make BNPL work at checkout.</p><p class="text-node" id="79tqzlhag">Keeping this in mind, we at <a class="link" href="https://m2pfintech.com/buy-now-pay-later/" target="_blank" rel="noopener">M2P</a> built a robust Merchant Acquiring &amp; Payment Processing Platform. The platform is an exemplification of features that help improve checkout financing, boost merchant experience, promote sustainable growth, and amplify the acceptance rate of BNPL at checkout.</p><h2 class="heading-node" id="ub1c3819a"><strong>Merchant Acquiring &amp; Payments Platform</strong></h2><p class="text-node" id="8du08nos3">Our Merchant Acquiring &amp; Payments platform comes integrated with our BNPL stack that allows issuers to onboard merchants (online or offline) and payment aggregators instantly and integrate on checkout flow to go live in minutes. The platform is designed to scale with the best payment flows for higher customer acceptance and to support end-to-end checkout experience for all types of BNPL products like checkout EMIs and one-click payments. In addition, it offers complete transparency and control to the issuers in the merchant acquiring and payment processes.&nbsp;Thus, creating a win-win situation for all.&nbsp; </p><p class="text-node" id="jz82tczgd">Here is a quick overview of what our platform can do.</p><ol class="list-node" id="hj8oxq8fg"><li><p class="text-node" id="8k5f6mh2j"><strong>Frictionless and Instant Onboarding:</strong> The platform enables automated DIY onboarding with built-in validations and operations that comply with the maker-checker workflows to establish frictionless, real-time onboarding. It facilitates instant DIY and assists onboarding for all types of merchants (online or offline) and Payment Aggregators. This allows merchants across geographies to do business on a single platform.</p></li><li><p class="text-node" id="hg6l2vsb3">&nbsp;<strong>Supports all credit products: </strong>The platform supports all credit products on merchant checkout, like low-ticket convenience spends and EMI. This creates a robust interoperable shopping environment that renders flexible and smooth checkout experience, thereby augmenting customer loyalty, resulting in lesser cart abandonment, improved average order value (AOV) and transaction size, and increased sales. Such interoperability will significantly increase profits by creating new revenue channels for all parties involved. &nbsp;</p></li><li><p class="text-node" id="k0bshfyyf">&nbsp;<strong>Easy developer integration:</strong> Developer friendly <a class="link" href="https://m2pfintech.com/blog/api-the-power-that-drives-new-age-banking-ecosystems/" target="_blank" rel="noopener">APIs</a>, SDKs and plugins with a dedicated test environment to ensure merchants go live in minutes with minimal development effort. &nbsp;</p></li><li><p class="text-node" id="gwgdaxk1g">&nbsp;<strong>Feature packed merchant dashboard:</strong> The platform empowers merchants to manage transactions, refunds, settlements, reconciliations, disputes, and much more from one single dashboard. This substantially improves operational efficiency and supports easy reconciliation.&nbsp;</p></li><li><p class="text-node" id="sqwdzjyw1">&nbsp;<strong>Secure &amp; Compliant:</strong> The platform is <a class="link" href="https://m2pfintech.com/blog/pci-dss-a-quick-guide-to-its-levels/" target="_blank" rel="noopener">PCI DSS</a> Level 1 Compliant and regular internal security audits are carried out to ensure that the systems are compliant, and data is safe. It has an in-built fraud and risk management module to protect your business and customers from fraudulent activities.&nbsp;</p></li><li><p class="text-node" id="x55h50ijj">&nbsp;<strong>Reduces cost and time:</strong> Traditionally, reports are manually generated, involving extensive manpower, time, effort, and money. Our platform’s automated billing, settlement reports, and reconciliation reports will reduce the operational cost and time consumed in monitoring and generating the reports. In addition, it also radically reduces the cost and a resource drain entailed in integrating payment methods into a merchant’s checkout. &nbsp;</p></li></ol><h2 class="heading-node" id="lat8t529s"><strong>What differentiates M2P's BNPL solution from others?</strong></h2><p class="text-node" id="iedhusmha">Our BNPL stack comes with an in-built Merchant Acquiring &amp; Payment Processing system. It is a meld of seamless onboarding and merchant management system, integrated payments, refund processing, and risk governance. It facilitates multiple merchant or payment aggregator onboarding, merchant KYC, approval, and bank account addition workflow to assist in settlement and reconciliation. </p><p class="text-node" id="2lxftobku">In addition, it enables merchants to run campaigns, cashback and rewards integrations for each transaction, dispute management and refunds management, and merchant plug-ins. Our transaction risk management runs a dynamic MCC/MID check for each transaction, limit management per merchant, and velocity checks for transactions. It also provides a comprehensive fund settlement and report module to generate T+1 settlement with merchants and detailed MIS reports and analytics based on the user behavior. </p><p class="text-node" id="wk1ur1oii">In retrospect, with only 4% of the total population opting the pay later option, India's BNPL journey has a long way to go. Nevertheless, given the flexibility and inclusivity, the sector is steadily gaining ground in the country's financial ecosystem. It gives merchants of all sizes a chance to expand their customer bases to increase their average order values and sales. </p><p class="text-node" id="a9ex2xcjs">Want to be a market leader in BNPL? Write to us at <a class="link" href="mailto:business@m2pfintech.com">business@m2pfintech.com</a></p><p class="text-node" id="2tgnq3lw7"><a class="link" href="https://m2pfintech.com/newsletter/" target="_blank" rel="noopener">Subscribe</a> to our newsletter and get the latest fintech news, views, and insights directly to your inbox. &nbsp; </p><p class="text-node" id="spea281ud">Follow us on <a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a> and <a class="link" href="https://twitter.com/m2pfintech">Twitter</a> for insightful fintech tales curated for curious minds like you.</p>

Simplifying Acquisitions and Payments for BNPL Issuers

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/11/Fleet-Drive-Blog-2-01.webp" alt="M2P Fintech" title="" width="100%" height="447"><p class="text-node" id="tb9dk9tzv" style="text-align: justify">Logistics is the backbone of any growing economy. In India, the sector is valued at $250 billion and is expected to grow at 8% YoY to reach $330 billion by 2025. </p><p class="text-node" id="831bi9x9d" style="text-align: justify">The road-based fleet industry, holding over <a class="link" href="https://rmi.org/insight/fast-tracking-freight-in-india-a-roadmap-for-clean-and-cost-effective-goods-transport/" target="_blank" rel="noopener">70% overall share</a> in freight transportation, is a synergy of about 15 million operational commercial vehicles that employ 20 million personnel. The upswing in technological innovations and government policies drive the fleet industry on the road toward digitalization.</p><h2 class="heading-node" id="m5ns2cs4k" style="text-align: justify"><strong>Growth and modernization of fleet industry</strong></h2><p class="text-node" id="0hizsxqo2" style="text-align: justify">Fleet businesses experienced significant revenue growth in the past few years for two primary reasons. One, the evolution of fleet management systems that enabled digital solutions like telematics-based route optimizations and the emergence of fleet aggregators. Fleet management systems have radically disrupted the rather traditional fleet industry by integrating modern technologies and services into the value chain. </p><p class="text-node" id="4z3blqyq2" style="text-align: justify">According to recent reports, fleet management systems as an industry is estimated to grow 14% yearly to 6.8 million units in 2025. As the current market penetration is hanging around 10% for the entire commercial vehicle industry, the growth potential is tremendous. The emergence of fleet aggregators has enabled seamless order and demand management and has generated great opportunities to stabilize and monitor productivity leading to sustainable profitability and growth. </p><p class="text-node" id="oy15j5v4e" style="text-align: justify">And two, the government of India had initiated several digital policies such as FASTag-based toll collection, digital e-way bills, and compulsory installation of GPS devices in commercial vehicles to tap into the day-to-day fleet operations data.</p><h2 class="heading-node" id="19bv0yegi" style="text-align: justify"><strong>Key operational challenges</strong></h2><p class="text-node" id="ufnx1mkl4" style="text-align: justify">In spite of the brisk progression in digital adoption, the fleet industry grapples with operational inefficiencies and ineffectual resource utilization. Not all fleet operators have access to technology that helps them control costs and enhance operational excellence, productivity, and profitability. </p><p class="text-node" id="vwm71lpsl" style="text-align: justify">In this article, let's review the top challenges of fleet businesses and how we can help resolve the pain points. </p><h3 class="heading-node" id="1tw7390n0" style="text-align: justify"><strong>Truck owner&nbsp;fragmentation</strong> </h3><p class="text-node" id="qoomf8m2s" style="text-align: justify">80% of the trucks running in the country are owned by small vendors with a maximum fleet of five or fewer trucks. These small fleet owners are outside the purview of digital tools and analytics. They lack a&nbsp;centralized platform for evaluating trip data to optimize cost and make better decisions to promote overall development and profitability. </p><h3 class="heading-node" id="gc9jqny5b" style="text-align: justify"><strong>Multiple stakeholders</strong> </h3><p class="text-node" id="6slyysuee" style="text-align: justify">The mandates of the Indian government and ongoing digitization efforts have detangled some of the essential knots for the fleet business. However, onboarding and managing the fleet system is still a hassle. For example, FASTag wallet, fuel payments, <a class="link" href="https://m2pfintech.com/kyc-suite/" target="_blank" rel="noopener">KYC</a> of drivers, and vehicle registration on the Telematics Platform are arduous tasks involving multiple stakeholders such as Fleet Aggregators, Transporters, Oil Marketing Companies (OMCs), Banks, and National Electronic Toll Collection (NETC).</p><p class="text-node" id="fqechbyrs" style="text-align: justify">Further, though the fleet payments ecosystem renders numerous digital payment solutions, they are essentially decentralized. This makes it impossible for the fleet operators to view or manage such payments/expenses under one roof. For instance, payment cards for fuel, toll booth payments via FASTag, and other miscellaneous expenses paid (via diverse modes) ought to be handled individually. </p><h3 class="heading-node" id="tr3d1qtao" style="text-align: justify"><strong>Capital allocation</strong> </h3><p class="text-node" id="o7xmxiku3" style="text-align: justify">India has the largest road network covering about 98,000 km of National Highways, which is just 2% of the overall road network in the country. But 40% of the total traffic is concentrated on these highways. Nevertheless, the Indian commercial vehicle covers 300 km a day, which is relatively low compared to the global average of 500-800 km a day. A sizeable portion of this journey (~40%) is dead miles, implying trucks travel without load yet have some capital allocated for the return trip. This is done in anticipation of new orders during the return journey; otherwise, they risk missing out on orders due to a longer lead time in getting the capital allocated and the ideal vehicle at the pickup location. Due to the dynamic nature of freight orders, the capital allocated to a vehicle is not in line with the capital required for optimal utility. </p><h3 class="heading-node" id="bsbf6muja" style="text-align: justify"><strong>Limited access to credit&nbsp;</strong> </h3><p class="text-node" id="b7hdgeqo0" style="text-align: justify">There is a momentous improvement in the fleet industry due to the private sector participation in fleet aggregation and telematics services and government initiatives. However, lenders don't have complete access to payments and cashflows handled by the fleet owners. This results in inefficient credit decisions. For example, lenders have limited or no visibility to real-time reports in terms of daily distance covered, transactions on fuel &amp; FASTag, etc., per vehicle. This leaves lenders with inadequate information on vehicle capital utilization,&nbsp;which in turn results in inefficient credit decisions and low participation in providing working capital for fleet operations.</p><h2 class="heading-node" id="gjsxze3ag" style="text-align: justify"><strong>How can our centralized fleet platform help?</strong></h2><p class="text-node" id="cr7f38jb7" style="text-align: justify"><a class="link" href="https://m2pfintech.com/fleet-drive/" target="_blank" rel="noopener">M2P'</a>s Fleet Drive serves as a centralized fleet payments management platform for the end-to-end business needs of the fleet operators, the telematics sector, and the lenders. Our platform serves as a one-stop solution for all fleet challenges by enabling harmonized payment management across trips and cohesive access to the capital for fleet operations. Our cutting-edge <a class="link" href="https://m2pfintech.com/blog/api-the-power-that-drives-new-age-banking-ecosystems/" target="_blank" rel="noopener">API</a>-driven technology stack ensures seamless integration of the stakeholders such as NETC, OMCs, lenders, telematics, and fleet aggregators, and provides the following benefit to the fleet industry. </p><h3 class="heading-node" id="p4pd974mg" style="text-align: justify"><strong>Seamless onboarding and integration</strong>&nbsp; </h3><p class="text-node" id="kse7nkp9k" style="text-align: justify">M2P's API-driven Fleet Drive Platform fosters frictionless onboarding of vehicles and drivers. It also enables hassle-free, digital, and secure integration with stakeholders such as OMCs, NETC, fuel retailers, banks providing <a class="link" href="https://m2pfintech.com/blog/how-to-implement-the-best-prepaid-payment-instrument-ppi-for-your-business/" target="_blank" rel="noopener">PPI</a> wallets, and Enterprise Resource Planning (ERP) of fleet aggregators for trip payments management.&nbsp; </p><h3 class="heading-node" id="e22ukte1x" style="text-align: justify"><strong>Single wallet to manage all payments</strong> </h3><p class="text-node" id="suzazcoig" style="text-align: justify">The platform allows fleet owners to manage payments across FASTag, fuel, and ATM expenses throughout the trip. It also empowers the fleet owners to switch unused funds across the driver FASTag and fuel account back to the master wallet, enabling real-time capital allocation.&nbsp; </p><h3 class="heading-node" id="9uinlnwb5" style="text-align: justify"><strong>Real-time control and visibility</strong>&nbsp; </h3><p class="text-node" id="3dmwc6tlk" style="text-align: justify">Our Fleet Drive Platform has a centralized dashboard that provides comprehensive visibility to all on-trip operations. Fleet owners can track active vehicles, driver location, wallet balance, limit management, and capital allocation across the fleet.&nbsp; </p><h3 class="heading-node" id="z6ppg8kcw" style="text-align: justify"><strong>Partnership with major Oil Marketing Companies (OMCs)</strong>&nbsp; </h3><p class="text-node" id="6h7hwfeih" style="text-align: justify">The platform facilitates stakeholders with cross-functional opportunities like fuel cashback/rewards with no surcharge on fuel payments across partner OMCs. Our API-driven technology stack supports OMCs in onboarding transporters, integrating with payment wallets, generating statements and reconciliation.&nbsp; </p><h3 class="heading-node" id="x498k680b" style="text-align: justify"><strong>Add value with fintech layer</strong>&nbsp; </h3><p class="text-node" id="z1a5td35n" style="text-align: justify">Fleet Drive Platform provides real-time reports and insights for lenders to make accurate credit decisions. With its end-to-end integration across the fleet payments ecosystem, the platform makes sure the transactions are recorded and verified for each vehicle across the entire fleet. This ensures lenders have complete visibility of the capital utilization by each fleet operator and their vehicles. They are empowered to manage risk effectively based on their Business Rule Engine (BRE) and provide credit. For Fleet Operators, adding a fintech layer to the fleet operations value chain will help in handling cash flow management based on demand and route optimizations and getting credit access from lenders.</p><h2 class="heading-node" id="uwglbh6eq" style="text-align: justify"><strong>360-degree Fleet Payments Management</strong></h2><p class="text-node" id="uum17jnzh" style="text-align: justify">Despite the numerous advantages of the modern fleet management system, its market penetration in the fleet industry is comparatively low and lacks the finance layer to enable efficacious and secure operations. It is imperative to amalgamate the data generated by telematics &amp; fleet aggregators with the fleet payments in order to render better insights and improve the decision-making ability of the fleet operators and lenders. </p><p class="text-node" id="cj6sfvn2n" style="text-align: justify">M2P's Fleet Drive Platform employs an API-driven technology stack to seamlessly integrate all the stakeholders to create an efficient 360-degree Fleet Payments Management. </p><p class="text-node" id="d0dhq4dfk" style="text-align: justify">For more information on our Fleet Drive Platform, write to us at <a class="link" href="mailto:business@m2pfintech.com">business@m2pfintech.com</a>.&nbsp; </p><p class="text-node" id="xawszjss9" style="text-align: justify"><a class="link" href="https://m2pfintech.com/newsletter/" target="_blank" rel="noopener"><strong><em>Subscribe</em></strong></a><strong><em> to our newsletter and get the latest fintech news, views, and insights directly to your inbox.</em>&nbsp;</strong> </p><p class="text-node" id="yaml3l259" style="text-align: justify"><strong><em>Follow us on </em></strong><a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/"><strong><em>LinkedIn</em></strong></a><strong><em> and </em></strong><a class="link" href="https://twitter.com/m2pfintech"><strong><em>Twitter</em></strong></a><strong><em> for insightful fintech tales curated for curious minds like you.</em>&nbsp;</strong></p>

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