MAM
Wow appoints Nikita Jaswaney as head of innovation
Mumbai: Personal care brand Wow Skin Science has announced the appointment of Nikita Jaswaney as head of innovation, in order to strengthen its senior team.
In this role, Jaswaney will be at the helm of product innovation and development for Wow Skin Science, Wow Life Science, and Body Cupid. She will also be responsible for leading the launch of new brands & strategic brand mixes under the parent company, Body Cupid Pvt Ltd, said the company in a statement.
“I am pleased to welcome Nikita Jaswaney to the Wow family,” said Body Cupid Pvt Ltd co-CEO Manish Chowdhary. “An expert at creating innovative product mixes and strategic brand development plans, Nikita brings along with her the experiences that will help us widen our thought processes and have a very focused outreach to reach our goals and objectives for 2022 and ahead.”
Jaswaney has vast experience in product innovation and category development across global personal care brands. With more than a decade of experience in the beauty, grooming and personal care segments both globally and in India with legacy brands and industry leaders such as Unilever and L’oreal, her core competencies are in brand innovation, deep consumer insight-led product development, and strategic brand communication.
In her earlier stints, Jaswaney led many successful new-format launches and renovations in hair-care and makeup. On her last international project on innovation and marketing communication with Garnier Hair Color she launched the disruptive Garnier Men five-minute shampoo color in South Asia and global emerging markets.
“Wow is a super brand, born in India, born in digital and native to today’s consumers across geographies. The pace and action-led culture of innovation and consumer focus of the company are the main reasons I find this role challenging and exciting,” stated Nikita Jaswaney on her role. “Leading the team in this new world where legacy brands are kept fit on the ground with active competition from agile and super innovative D2C brands like WOW. Consumer insights and the velocity of translating those insights into exciting brands drive today’s beauty and personal care spaces and I am looking forward to driving those disruptive strategies at Wow.”
MAM
10 years of UPI: India’s payments system hits 21.7 billion transactions a month
From queues to QR codes, digital push drives inclusion and real-time ease
NEW DELHI: India’s digital payments story has come a long way from queues at bank counters to instant QR code scans, with the Unified Payments Interface now processing a staggering 21.7 billion transactions in a single month, underlining its position as the world’s leading real-time payments system.
Not too long ago, routine transactions meant paperwork, waiting periods and, for many, complete exclusion from the formal financial system. Today, that landscape has been fundamentally reshaped by a digital ecosystem built on scale, simplicity and accessibility.
The shift gained momentum in the early 2000s when the Reserve Bank of India introduced systems such as RTGS and IMPS. While these laid the groundwork for faster payments, their reach remained limited to those already within the banking fold.
A decisive breakthrough came with the JAM trinity, combining the Pradhan Mantri Jan Dhan Yojana, Aadhaar and widespread mobile connectivity. This framework expanded financial access, enabled direct benefit transfers and familiarised millions with digital transactions.
“The JAM Trinity catapulted our banking to a different level altogether,” said Nirmala Sitharaman, highlighting its transformative impact.
Launched in 2016 by the National Payments Corporation of India, UPI simplified money transfers by removing the need for complex bank details. With just a mobile number or UPI ID, users can send and receive money instantly, round the clock.
Its scale has expanded rapidly, with participating banks growing from just over 200 in 2021 to nearly 700 by early 2026. Today, UPI accounts for 81 percent of India’s retail digital transactions and nearly half of global real-time payment volumes, according to global institutions such as the International Monetary Fund and the World Bank.
Beyond convenience, the platform has driven deeper financial inclusion. From street vendors and autorickshaw drivers to rural traders and domestic workers, millions now participate in the formal economy through instant, low-cost transactions. The system has also opened doors to credit, insurance and savings products for previously underserved segments.
New features such as UPI Lite, AutoPay and credit integration are further expanding its scope, turning it into a broader financial platform rather than just a payments tool. At the same time, enhanced security measures like two-factor authentication have strengthened user trust and reduced fraud risks.
India’s payments innovation is also gaining global traction, with UPI-linked systems now operational in multiple countries, enabling seamless cross-border transactions and boosting remittances.
What began as a solution for financial inclusion has evolved into a global benchmark for digital payments. As India continues to move from queues to QR codes, UPI stands as a powerful example of how technology can simplify everyday life while driving economic participation at scale.
