Nearly 300 from 125+ Banks, Insurance, Business Schools, IT Cos participate in Banknet's Sixth Annual Conference on Payment Systems on 22nd Jan'10, at Mumbai. This was the first major conference to focus on "RBI’s Vision for Payments Systems in India for 2009-12".Banknet Master Class was also conducted at the conference. Conference also feature a Technology Exhibition.

Seventh Edition of Payments Conference will be organised in January 2011.

India is an immense and extremely unique market with a nascent payments industry that seems solidly poised for dramatic growth. With total payment flows approaching $9 trillion, India’s payments industry has revenues of nearly $14 billion. Effective functioning of financial system as well as effective transmission of monetary policy signals requires a safe and efficient payment and settlement system. If managed through a clear, coherent strategy, payments can be a real source of competitive advantage and consistent profitability for banks.

The rapid advancements in the field of information technology (IT) have contributed to emergence of new products as well as methods of payment and settlement. In recent years, the use of electronic payments has witnessed manifold increase, partly reflecting increased adoption of technology.

Safety, security, soundness and efficiency of the payment systems assume critical importance from the angle of systemic stability. Smooth functioning of payment systems becomes vital in the light of inter-linkages they have with other financial systems.

Conference will deliberate on- RBI's Vision for Payment Systems, RTGS, NEFT, NECS, Cheque Truncation Systems, Clearing & Settlement Systems, Financial Inclusion, Customer Service, Financial Frauds, Cyber Security, Internet Banking, Mobile Banking & Payments, M commerce, ATMs, Card Payments etc.

Conference will have three informative & interactive sessions to discuss and review issues, developments & trends in payment systems & alternate channels. Speaker Presentations in each session will be followed by a Panel Discussion & Interactive Q & A.