siliconindia | | May 20178Headquartered in Sharjah, OMA Emirates is one of the world's leading digital payment companies offering niche technology solutions in the areas of Card Personalization, Payment Issuance, and Payment Acquiring Systems, thus delivering a seamless customer experience across the entire life cycle.By Niranj Sangal, Group CEO, OMA Emirates Grouphe payments industry has been experiencing advancement, growth and innovation at a steady rate. Demonetization was a learning curve which gave a push to the payments market. It urged and compelled customers to look beyond traditional cash transactions. We witnessed an increase in the deployment of PoS and mPoS terminals. Simultaneously, the use of wallets and digital transactions increased. As an economy we have been progressing in the right course. The aggressive competition makes companies like OMA Emirates and MobiSwipe to keep innovating to provide the industry with cutting-edge technologies and solutions.In an exclusive interview with siliconindia, Niranj Sangal, Group CEO of OMA Emirates Group, shares his insights about the current digital payments industry in India, the emerging trends, and its impact on technology innovation.Tell us about the latest technologies & trends emerging in field of Digital Payments. We have been experiencing an increasing demand for mPoS with MobiSwipe and OMA Emirates' Mobility range of smart terminals. The technology involved converts a smartphone into a Point of Sales terminal with the add-on of a secure card reader. mPoS solutions like MobiSwipe have been gaining popularity since a year considering it is a flexible, mobile and less expensive solution if compared to regular PoS. It has become a go-to solution for the retail and e-Commerce industry. Besides we also have newer technologies which are being integrated in the existing technologies. Contactless payments using NFC and RFID technology have started to gain popularity. The defining feature of this solution is that transactions are quicker, simple and secure. Solutions with Biometric finger print scanning are also gaining steam. OMA Emirates has been deploying such biometric and contactless terminals in the Middle East and we plan to introduce these in India as well in the near future.Briefly give us a comparison of the Indian payment solutions market pre- and post- demonetization of Rs.500 & Rs.1000 currencies? India had always been a pro-cash economy. According to a TTHE CHANGING SCENARIO OF THE INDIAN DIGITAL PAYMENTS INDUSTRYIN MY OPINION
< Page 7 | Page 9 >