- 2FA (Two-factor authentication), mandated by the RBI, deployed since Aug 09 seems to be a success. The timing of this deployment is helping increase the size of the ecommerce pie in the nascent Indian market, at just the right time. Early indicators are that both merchants and issuers are seeing reduced fraud.
- Stung by the credit defaults during the [temporary] recession of 2008-09, card issuers are offering credit backed by a card holder's asset (e.g., a fixed deposit / CD)
What are the implications of the above trend/development as we step into 2010?
- Aggressively pursue new markets [in India] to get credit cards into more hands?
- Migrate to EMV [finally]?
- Any other suggestions?
Though the above post has focused on the online payments space, the dynamics of the F2F / payments at stores are similar leading to the same conclusion.
This is to wish all a wonderful holiday season and a great 2010