2020 was a tumultuous year for every vertical. Payments was no exception. As a consequence of the economic slowdown accompanied by the global health crisis of COVID-19, the payments sector experienced its first revenue contraction in 11 years. Simultaneously, the persistence digitization of consumer and commercial transactions resulted in far greater upward momentum than expected. All-in-all, the payments industry proved exceptionally resilient to extreme economic changes even as many economies spent considerable portions of the year in lockdown.

In 2022, an array of the primary drivers will influence the payments revenue trajectory. This includes a return to global economic growth and continued cash displacement, accelerating existing upward trends in  number and share of electronic transactions. However, the interest margins will remain muffled. By 2025, the payment industry is expected to reach roughly $2.5 trillion. The innovation, breakthroughs, and contractions = adjacent opportunities as big as the principal payments revenue pool. This has triggered the need for deeper partnerships between tech players and ecosystem competitors, focusing on the payments value chain elements.

These combined forces will unevenly influence incumbent players dependent on traditional revenue streams. This include consumer deposit balances, banks holding notable commercial, and card issuers. Hence, spurring a dire need to redefine payments revenue models and determine alternative paths to value.

TechCircle, in association with HPE, is organizing – “Pay-IT Conclave – Embedded Payments Imperatives” - a digital summit that will bring together industry experts and torchbearers to deliberate on the future of the payments ecosystem, the role of key industry players, challenges, and solutions, thus carving a roadmap for the future.


1:00 PM onwards
  • 1:00 PM – 2:00 PM

    Registration & Networking

  • 2:00 PM – 2:15 PM

    Welcome by TechCircle: Introductions and Context Setting

  • 2:15 PM – 2:30 PM

    Opening Keynote by Guest Speaker

    By Dilipkumar Khandelwal, CIO Corporate Functions, Global Head of Technology Centres and CEO, Deutsche India, Deutsche Bank Group

  • 2:30 PM – 3:05 PM

    Panel Discussion 1: Embedded Payments Imperatives

    Whether an individual or a family or a small business— achieving the best financial life is a big challenge for most customers. The journey entails innumerable small decisions over decades to lead you to a better outcome. As long as there’s friction, complexity, and lags, a lot of folks simply aren’t going to do it. But if you do that for small businesses, it completely changes the game for consumers. There are still a lot of opportunities to reduce friction in the system.

    Thanks to embedded finance, food delivery apps such as Zomato and Swiggy enable consumers to make payments in a fraction of seconds without switching between apps or entering bank details. API is a science behind these integrations, enabling frictionless, faster, simpler, and more convenient experiences when and where they need them.

  • 3:05 PM – 3:25 PM

    Fireside Chat on Transparency a Tripartite Collaboration

    The key is to be incredibly transparent with consumers about what is being shared for the particular use case they want to pursue. Outcomes regarding how long and what type of data we share are linked to what consumers want from the use case they’re pursuing. It’s the consumer’s data, so the consumer should have the choice to share that data for the use cases they want to pursue, as opposed to it being the bank’s data. It ultimately has to be in the best interest of the consumer. That said, the institutions are a crucial part of the overall ecosystem. It’s a three-sided ecosystem that has consumers, developers, and then the institutions.

    The payments industry now encompasses the end-to-end money-movement process, including the services and platforms enabling this commerce journey. Apple, Google, Facebook, and Amazon are real-life examples of large tech companies that trust embedded finance in services like Apple Pay, Google Pay, Facebook Pay, and Amazon Pay. Technology acts as a data enabler and helps transport information securely between the solution providers and showcase platforms using SDKs, APIs, and connectivity as part of their technological infrastructure.

  • 3:25 PM – 3:40 PM

    Tech Talk: Technology-Led Shifts Broadening Payments Horizon

    Payment behaviour is enduring shifts—declining cash usage, adoption of instant payments, and migration from in-store to online commerce. Driven by frictionless, real-time, always-on features and integration, these shifts are changing spending patterns, creating new opportunities, and adding impetus to growth. ‘Tap to pay’ adoption is an early success story in Australia. In just a year, digital-wallet transactions grew by 90 percent. Real-time functionality is another shift that has fuelled mobile wallet adoption. In 2020, India registered 25.6 billion transactions alone ( 70% + increase as compared to 2019).

    Lending services—Buy Now Pay Later, is another factor helping earn revenue in interest payments form. It is expected—by 2030, embedded finance companies, including those who pivot into this trend = $ 7.2 trillion approx market capitalization, globally. Technology helps develop plug-and-play solutions and embed them onto online platforms to improve focus on customer segments and loyalty.

    By Upasana Taku, Co-founder & Chief Operating Officer, MobiKwik

  • 3:40 PM – 4:15 PM

    Panel Discussion 2: Tapping into Greener Pastures

    India MSMEs is approx 6.3 crore. 30,00,822 are Udyam Registration portal registered as per the MSME Ministry data. Registered micro-enterprises = ~ 28 lakh (93%). Small enterprises = 1.78 lakh (6%). Mid-sized enterprises = 24,657(1%). The Indian MSMEs sector contributes about 29% towards the GDP via both national and international.

    However, the outbreak has pushed businesses to reorient their payments operations and customer interactions. Small and medium-sized enterprises (SMEs) are increasingly aware of the available payment solutions. They are motivated to encourage the use of those that best serve their needs and their customers. However, while old tenets still hold true—scale still matters, and “owning” the customer relationship remains essential. For instance—sticking to them is no longer sufficient to ensure success. The absorption of payments into the full commercial/consumer purchase-to-pay journey has given rise to ecosystems demanding new, more robust services, for example, commerce facilitation rather than a discrete payment experience.

    Anand Kumar Bajaj
    , Founder, MD & CEO, PayNearby

  • 4:15 PM – 4:30 PM

    Keynote Address: Monetising the Money Value of Time

    Today's journey is from the Time Value of Money to the Money Value Time. Digital transformation by default= redefining the institution's operations through the lens of customer journeys. Most players have built road maps spanning next five to six years to plan digital transformation. There are many use cases where consumers increasingly expect a financial services experience to be tightly integrated, if not fully embedded. It provides significant benefits to the companies. It's a way to monetize. It's a different business model for many of these players. You could potentially offer your core products for free or at a discount because you're monetizing them through the integration of financial services.

    It isn't just about the distribution model reshaping, and it's about assigning new roles to the technology enterprise, enabling a frictionless buying experience for the end customer. Saveo, a B2B e-commerce platform is a classic example. Saveo embraces embedded banking to offer credit to its retailers and eventually helps pharmacies collect working capital. Consequently, pharmacies don't need to wait for regular settlements; they can directly improve their business flows.

  • 4:30 PM – 4:50 PM

    Closing Keynote address by Special Guest Speaker

    By Shailesh Paul, Vice President/Head, Merchant sales & Acquiring and CyberSource, India and South Asia, Visa

  • 4:50 PM – 5:00 PM

    Closing Remarks

    By Shalil Gupta, Chief Business Officer, Mosaic Digital

Speakers 2022


Anand Kumar Bajaj

Founder, MD & CEO, PayNearby

Dilipkumar Khandelwal

CIO Corporate Functions, Global Head of Technology Centres and CEO, Deutsche India, Deutsche Bank Group

Jaideep Mehta

CEO, Mosaic Digital & Head - Mint

Shailesh Paul

Vice President/Head, Merchant sales & Acquiring and CyberSource, India and South Asia, Visa

Shalil Gupta

CBO, Mosaic Digital

Sumedha Bose

Assistant General Manager - Research & Solutions, Mosaic Digital, an HT Media Group Company

Upasana Taku

Co-founder & Chief Operating Officer, MobiKwik

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