For the first time a seminar was organized for both I year and II year students together by
The speaker for the seminar was Mr. Deepak Jain, Alumni of SJIM from batch 2013-15.
worked as a Market Development Manager at Cimplyfive and presently working as a
relationship manager at Induslnd Bank.
The topic for discussion was “Indian Payment Services Industry” and It covered the
1. History of Payments
2. Modern Payment Systems
3. Prepaid instruments
The session enhanced students how the transactions are carried through barter system,
Livestock, metal coins, paper money, charge cards and Gold-Backed US dollar.
Students gained valuable insights on Modern payment system structure, prepaid payment
Instruments usage, credit cards and debit cards, mobile wallets, Aadhaar enabled payment
systems, Bharat Bill Payment system and RuPay card.
The regulations which covers the above:
The Board for Regulation and Supervision of Payment and Settlement Systems (BPSS)
The payment and settlement systems are regulated by the Payment and Settlement
Systems Act, 2007 (PSS Act)
National Payment Corporation of India (NPCI)
Conclusion of the entire session
By 2020, the size of the digital payments industry in India will be $500 billion & will
contribute 15 percent of India’s GDP
Students were interactive and asked a lot of questions about evolution, growth and trends
in the Industry.