User Defined Transaction Limit for UPI

In recent years, Unified Payments Interface (UPI) has become one of the most popular methods of digital transactions in India. With the increase in the number of UPI transactions, it has become necessary for Indian banks to provide more security features to protect users from frauds and cyber-attacks. One such feature that should be enabled by Indian banks is the option for users to set per transaction limit for UPI.

Overview:
Digital payments have seen exponential growth in India in recent years, with UPI transactions contributing significantly to this growth. According to a report by the National Payments Corporation of India (NPCI), UPI transactions reached an all-time high of 2.73 billion transactions in March 2021. However, with this growth, there has also been an increase in fraud and cyber-attacks related to digital transactions, leading to the need for more security features.

Current Scenario: Currently, users can set a daily transaction limit on their UPI transactions, but there is no option to set a per transaction limit. This means that if a user's UPI credentials are compromised, a fraudster can potentially make multiple transactions in quick succession, leading to significant losses. While some banks have implemented a per transaction limit, it is not yet a widespread practice.

Benefits of Per Transaction Limit:Enabling the option for users to set a per transaction limit for UPI transactions can significantly enhance the security of digital payments. Here are some benefits of having a per transaction limit -

1. Protection from Frauds: With the per transaction limit feature, even if a fraudster gains access to a user's UPI credentials, they can only make transactions up to the set limit, reducing the losses.
2. Customizable Limits: Users can set per transaction limits according to their usage and needs, providing flexibility and control over their transactions.
3. Cost Savings: In case of a fraud or cyber-attack, users would lose only the amount set as the per transaction limit, reducing the financial losses.

Challenges in Implementing Per Transaction Limit
While enabling per transaction limit is an essential feature, there are a few challenges that Indian banks might face during implementation.

1. User Education: Indian banks would need to educate their users about the per transaction limit feature and its importance in enhancing the security of digital transactions.
2. Technological Integration: Banks would need to make necessary technological changes in their systems to enable the per transaction limit feature.
3. Customer Convenience: Enabling the per transaction limit feature should not compromise customer convenience. Banks would need to ensure that the implementation of this feature does not affect the user experience negatively.

In conclusion, Indian banks should enable the option for users to set a per transaction limit for UPI transactions to enhance the security of digital payments. While there might be some challenges in implementation, the benefits of this feature outweigh the challenges. By implementing per transaction limit, Indian banks can provide their users with a more secure and convenient digital payment experience.

Indian Online Shopping Market: Is Duopoly Dominance Hurting Sellers?

Indian online shopping market is mainly dominated by Amazon and Flipkart, creating a duopoly that benefits consumers with a wide range of products, competitive prices, and fast delivery. However, this also puts sellers at a disadvantage with limited options and forced competition based on the terms dictated by these platforms.

• Emergence of the Duopoly: Amazon and Flipkart have been vying for dominance in the Indian online shopping market for several years with hefty discounts on products and bank offers. Both platforms boast a diverse range of products, competitive prices, and rapid delivery, making them the top choice for many customers. 
• Power Struggle: While customers benefit from the duopoly, sellers suffer from a disadvantage. Having only major two major platforms with huge customer base and wider shipping coverage across country, the sellers have limited options and are required to compete on the terms set by both Amazon and Flipkart’s biased sales management team. Having different terms and policies for sellers based on their volume and interest preference from customers. 
• Seller Concerns: Some of the primary concerns for sellers include high sales commission rates, knockoff products with different branding, and the potential for bias towards sellers who advertise more on these platforms. These problems make it difficult for small and medium-sized sellers to compete and succeed on these platforms. 
• Necessity for Change and Competition is good: To alleviate these concerns, greater competition is required in the Indian online shopping market. This could be achieved by introducing new players to the market or improving the services and offerings of existing players. An alternate solution is for the government to regulate the market and enforce fair competition practices. This may include imposing caps on sales commission rates or implementing guidelines for seller rankings and product listings. 

With potential issues like high sales commissions and biased rankings, greater competition and regulation are required to ensure a fair and competitive market for both sellers and consumers. To read more such articles, please feel free to follow articles published in “G R Team Sites” 

Disadvantages of Using WhatsApp Business for Your Business

While WhatsApp business may seem like a convenient tool for businesses to reach out to customers, there are also several disadvantages associated with it while using it as your primary communication platform. In this article, we will discuss the disadvantages of using WhatsApp Business for your business and features that could be introduced for making it effective. 

Limited Functionalities: 

WhatsApp Business is limited in terms of its functionalities that is being offered compared to other business communication tools. It does not have the same level of automation like sending it to contacts and detailed dashboard/analytics reporting for computers that other platforms offer, making it difficult for businesses to effectively manage and respond to customer inquiries. This can result in missed opportunities and lost customers. 

No Integration with other Platforms: 

WhatsApp Business does not integrate with other common communication tools, such as customer relationship management (CRM) software or billing software. This means that businesses must manually transfer customer contacts and customer walk-in insight history between platforms, making it a time-consuming and error-prone process. 

Potential for getting accounts blocked: 

WhatsApp Business does not have the same level of security and spam protection as other business communication tools. This makes it easier for scammers or conflicting customers to mark the account as spam. This can result in a negative business reputation and may even result in account getting blocked. 

My final thoughts: 

In conclusion, while WhatsApp Business may seem like a convenient tool for businesses to communicate with customers, it also has several disadvantages. Limited features, lack of integration with other platforms, and potential for spam blocking and account getting completely blocked are all reasons why it may not be the best option for all businesses. Businesses should consider their specific needs and weigh the advantages and disadvantages before choosing WhatsApp Business as their primary communication platform. For more such insights and information, please feel free to check out the articles published in “G R Team Sites”

Information for Hydraulic flail mower

In recent times, finding reliable and quality agricultural equipment’s in the market have been the most frustrating and difficult process for most farmers across the region. There may be wide range of manufacturers out there promising to offer agricultural and tur maintenance equipment for farmers. However, most equipment manufacturers or their product units lack quality and long-term reliability. Recently I came across an expert in manufacturing agricultural and turf maintenance equipment for farmers with trusted services and reliable products, known as Peruzzo. Peruzzo founded in 1959 is a pioneer in offering innovative, reliable, and highest quality agricultural and turf maintenance equipment across the region, that no other competitor in its class could offer. Peruzzo offers wide range of patented turf maintenance equipment’s ranging from Green Pro flail mower, Line Bio-Mass and Line Zoo-Tech. 

Likewise, if you are looking at reliable manufacturer offering high quality hydraulic flail mower for a long time with proven track record and trusted customer service, then Peruzzo would be the place you need to check out. Peruzzo takes utmost care and innovative practices to address the requirements and concerns from farmers & professional contractors and incorporate them into their equipment manufacturing processes. The heavy-duty hydraulic flail mower equipment from Peruzzo includes various features such as large capacity collector unit to store the high grass cutting and comfortable storing of wood branches. For more information and insights on the features offered by hydraulic flail mower equipment from Peruzzo, please feel free to check out their website of the above link.