Enter the challengers
Payments banks will penetrate the remotest villages - possibly with a lot of help from the mobile phone. Their success will depend on how they approach the market and their value propositions.
- Feb 6, 2016,
- Updated Feb 6, 2016 4:01 PM IST
A new breed of banks is entering the banking and financial services industry with the promise to transform banking transactions. To the unbanked, the move will give access to bank accounts. And to those who longed to get into the banking industry, it will offer the benefits (and prestige) of a bank. Whether these banks will be financially successful or not, however, is another matter.
A new breed of banks is entering the banking and financial services industry with the promise to transform banking transactions. To the unbanked, the move will give access to bank accounts. And to those who longed to get into the banking industry, it will offer the benefits (and prestige) of a bank. Whether these banks will be financially successful or not, however, is another matter.