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Real-Time Payments Projected to Boost India GDP by $76.5 Billion, Bring Banking Access to 25.5 Million Indians by 2028 – ACI Worldwide Report

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India is one of the top three countries globally for financial inclusion uplift.

MUMBAI, India, Dec. 19, 2024 /PRNewswire/ — Real-time payments boosted India’s GDP by $50 billion in 2023, making it the world’s largest market in terms of GDP growth, according to the Real-Time Payments: Economic Impact and Financial Inclusion report published by ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, in collaboration with The Centre for Economics and Business Research (Cebr). This is equivalent to the output of approximately 6.8 million workers.

The report leverages data from 40 countries and reveals—for the first time—an empirical link between real-time payments and financial inclusion. According to the report, real-time payments are forecast to contribute $76.5 billion of additional GDP to India’s economy by 2028, equivalent to 1.5% of GDP, or the output of 8.0 million workers. India is on track to become the world’s third-largest economy by 2030–31, according to S&P Global. Real-time payments play a pivotal role in supporting this trajectory, driving unparalleled economic efficiency and growth.

Real-time payments are driving unprecedented growth in enabling financial access for unbanked and underserved communities, accelerating remittance flows and creating opportunities for economic participation. The phenomenal surge in real-time payments and the resulting rise in financial inclusion present a significant growth opportunity for banks. The report reveals that by 2028, real-time payments are expected to add 25.5 million new bank account holders. The projected growth in new account holders presents a $24.6 billion profit opportunity for financial institutions, derived from the typical customer lifetime value estimated at $963.

India dominates the global real-time payments market, with 129.3 billion transactions in 2023. The rise of real-time payments in India has revolutionized banking access, bringing millions of Indians into the formal financial system and empowering them with fast and seamless transactions. As India leads the charge in real-time payments adoption, banks and financial institutions have a unique opportunity to align profitability with purpose, fostering inclusion while capturing untapped growth,” said Santhosh Rao, Senior Vice President, Sales – MEASA, ACI Worldwide.

Globally, real-time payments are expected to contribute $285.8 billion in additional GDP growth—a 74.2% increase over five years—and create more than 167 million new bank account holders by 2028. The report highlights how real-time payments create a win-win scenario, driving benefits not only for the financial sector but also for the broader economy. India has emerged as a shining example of how real-time payments can drive global connectivity and inclusion, setting a benchmark for building a more integrated and empowered world.

About ACI Worldwide

ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With nearly 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities.

© Copyright ACI Worldwide, Inc. 2024

ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay, and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries, or both. Other parties’ trademarks referenced are the property of their respective owners.

 

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French antitrust proceedings concluded

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STOCKHOLM, Dec. 19, 2024 /PRNewswire/ — The French Competition Authority (FCA) has completed the previously communicated second investigation regarding alleged breaches of antitrust rules in France by Electrolux Group and various other parties within the home appliance sector during 2009 to 2014.

The FCA has decided on a fine of EUR 44.5m, which is covered by the provision set by Electrolux Group and reported as a non-recurring item in the second quarter of 2023. This decision follows a settlement that was reached in 2023 between the FCA and Electrolux Group.

For further information, please contact Electrolux Press Hotline, +46 8 657 65 07.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/electrolux-group/r/french-antitrust-proceedings-concluded,c4084732

The following files are available for download:

https://mb.cision.com/Main/1853/4084732/3182902.pdf

241219 Press release – French antitrust proceedings concluded final ENG

 

View original content:https://www.prnewswire.co.uk/news-releases/french-antitrust-proceedings-concluded-302335955.html

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Inaugural “State of CX Malaysia” Research Reveals Opportunities in Customer Experience for Malaysia

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KUALA LUMPUR, Malaysia, Dec. 19, 2024 /PRNewswire/ — CX Malaysia, in collaboration with Twimbit, MDEC (Malaysia Digital Economy Corporation) and CCAM (Contact Centre Association of Malaysia), released the “State of CX Malaysia 2024” report, the first comprehensive study benchmarking customer experience excellence across Malaysian enterprises.

This first-of-its-kind research and report evaluates 100 brands and companies in the Malaysian consumer space using the Twimbit CX Stars Methodology. The consolidated scores provide a baseline standard for the Malaysia CX Index which will set a barometer for continuous transformation in CX excellence. 

Key Findings:

The Malaysia CX Index stands at 3.61 out of 5.0, showcasing a strong foundation in customer experience deliveryDigital e-commerce (4.03), Digital Banks & Financial Services (3.80), and Property Development (3.73) sectors emerge as industry leadersTop performers include Petronas, Shopee, Grab, DHL, FedEx, AIA Malaysia, Gamuda Land, Maybank, Etiqa Insurance, Tune Protect and Touch’nGo Digital, setting new benchmarks in customer experience excellenceThe study identifies significant investment in digital transformation, with leading companies leveraging AI and personalization to enhance customer experiences

Vigneswaran Sivalingam, President of CCAM (Contact Centre Association of Malaysia), emphasized the importance of this milestone: “As we advance towards the nation’s vision of a civilized, skilled, and inclusive society, excellence in customer experience becomes not just an advantage, but a necessity. Our businesses must evolve from being merely digital to being experience-centric in the digital age.”

Manoj Menon, Founder & CEO of Twimbit, highlighted: “The report’s findings demonstrate Malaysia’s strong foundation in customer experience. With an average score of 3.61, Malaysian companies are showing remarkable progress in transforming customer interactions across digital and traditional channels.”

The “State of CX in Malaysia” research and report is based on a comprehensive benchmarking framework evaluating companies over 60 parameters across four key dimensions which include Digital Experience, Service Experience, Brand Experience and Employee Experience.

The report also outlines a Vision 2030 and future outlook for Malaysia’s CX leadership, emphasizing the critical areas of opportunities. Some of the key points include integration of AI and machine learning in customer service, enhanced personalization across all customer engagement touchpoints and strengthened employee experience as a driver of customer experience. This research and report is designed to be CX Malaysia’s effort to create a baseline reference for the Customer Experience transformation in the country through the measurements in the Malaysian CX index. 

The complete report is available upon request from the CCAM Secretariat. CX Malaysia, a chapter of CCAM will organise a tour of the State of CX in Malaysia research through monthly roundtables. These sessions will provide best practice sharing and dialogues to help elevate the customer experience standards here in Malaysia.

About CX Malaysia: CX Malaysia is a newly minted body that is a chapter of the Contact Centre Association of Malaysia (CCAM). The objective of CX Malaysia is to advance customer experience excellence in Malaysia through leaders, experts and practitioners across multiple verticals that includes Service, Strategy, Technology, Marketing and Human Resources.

About Twimbit: Twimbit is a research and advisory firm specializing in digital transformation and customer experience, known for its innovative methodologies and actionable insights.

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SOURCE Contact Centre Association of Malaysia (ccam)

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Dstny Strengthens Its European UCaaS Leadership with Fourth Consecutive Top Placement on Frost & Sullivan’s 2024 Frost Radar™

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BRUSSELS, Dec. 19, 2024 /PRNewswire/ — Dstny, a leading European provider of cloud-based business communications, has once again secured a top position on the Frost & Sullivan UCaaS Frost Radar™ 2024. This marks the fourth consecutive year that Dstny has been recognized by Frost & Sullivan for its ongoing innovation, strategic growth, and commitment to delivering world-class UCaaS solutions (Unified Communications as a Service).

 

“Dstny has risen to rank among the top European UCaaS leaders,” said Robert Arnold, Industry Director, Information & Communications Technology at Frost & Sullivan. “Its multifaceted approach enables a differentiated market presence compared with many providers. Moreover, Dstny’s ability to deliver native mobile UCaaS is a key differentiator and growth catalyst as European businesses adapt to distributed, remote, and hybrid workforces.”

Dstny continues to innovate its leading SME-focused mobile-first UCaaS. To date, Dstny delivers market-leading Teams voice integration through Call2Teams and offers Multi-UCaaS capability with its BYOC offering – Carrier Automate.

“Our strengthened position on the 2024 Frost & Sullivan Radar reaffirms our commitment to enabling businesses to communicate and collaborate seamlessly. We continue to push the boundaries of innovation to deliver solutions that empower organizations to stay agile, connected, and productive in today’s dynamic marketplace. And we are excited to launch our highly anticipated Dstny Converge solution in early 2025 – helping Service Providers leverage FMC easier than ever,” said Neil Greenwood, VP of Product at Dstny.

Download the Full Report: www.dstny.com

For Further Information:
Christian Hed – CMO, Dstny
Email: Christian.hed@dstny.com
Tel: +46707187603

 

About Dstny
Dstny is a leading European provider of cloud-based business communications, delivered both directly to businesses and through partners and service providers. The company aims to simplify the daily lives of its more than 3.5 million users: its interactive business communication tools are delivered as-a-service and connect employees and customers through all possible communication channels (voice, video, chat, and others).

Dstny’s tools are mobile-first, locally customizable, user-friendly and easy to integrate. By combining innovative technology with close relationships with partners and service providers, as well as strong local teams, Dstny can provide the best possible user experience and make the latest applications accessible to companies across Europe.

Headquartered in Zaventem, Dstny has more than 1,000 employees in 7 European countries (Belgium, Netherlands, France, Germany, Sweden, Denmark, UK).  More information: www.dstny.com

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Logo – https://mma.prnewswire.com/media/2489523/Dstny_Logo.jpg

 

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SOURCE Dstny

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