Around 30-50 million passengers in the reserved category have switched over to digital payments.
From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquarted company now has multiple offices across the country.
Indian hockey officials hope the time away from home will help the players bond after weeks of controversy.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
'Dear Business Partner, Kindly note and inform your all customers that Digital Cashback has been revised from 0.75 per cent to 0.25 per cent with effect from August 1, 2018 across oil industry for all loyalty customers,' said the text message sent by State-owned oil companies to petrol pump operators.
The company was awaiting clarification from the Reserve Bank of India on data storage before it took a final call on data localisation.
WhatsApp says business profiles verified by it will carry a green badge, similar to how parent Facebook verifies businesses with a blue tick.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
Nandan Nilekani complimented RBI on granting licenses to payments banks, calling it 'a great revolution'.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
In the wake of scrapping of old Rs 500/1,000 banknotes, Niti Aayog has asked National Payments Corporation of India to frame a new scheme to incentivise digital payments.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Tokenisation acts as an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiry date and security code. However, the security level of the app and the customer's mobile itself also needs to be taken into consideration, say experts. Nikhat Hetavkar explains the whole idea of tokenisation, how it is enabled, its impact on card transactions and related security guidelines.
The telecom companies have also been asked to urgently improve their infrastructure, as the government aims to digitise a host of services.
As the government faces a difficult choice in keeping up with the rest of the world in AI development while making sure it does not add to unemployment, it has set up a task force to draw up a policy for the accelerated deployment of AI
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
Handle cards like you would handle cash.
The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
Customers taking small and convenient steps and some degree of care and precaution while paying digitally will ensure safety and security from new threats that emerge every day, says Avinash Luthria
Big retailers are openly talking of plans to harness the power of big data, even reporting those in annual reports as part of a long-term strategy.
Sharad Sharma, co-founder and governing council member at iSPIRT, on Tuesday admitted using anonymous accounts to troll on social media those who raised questions on Aadhaar and its applications by the government.
Since payment alternatives such as UPI, e-wallets and USSD - based mobile banking through different platforms are directly or indirectly linked to the user's bank account one needs to be extra careful to keep hackers at bay, explains Adhil Shetty, CEO, BankBazaar.
Tripti Rai explains the unique features of Bharat Interface for Money (BHIM) app developed by the National Payment Corporation of India.
Compared to a 64 per cent penetration in Brazil (130 million users total) and 53 per cent in China (total 733 million users), India has barely 28 per cent penetration. Of the digital reach, almost 80 per cent are from affluent segments in urban areas. How can this change?
Modi hailed the close defence cooperation between the two countries and welcomed the completion of the logistics agreement between the two navies.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
MCLR-linked loans are more responsive to RBI's rate movements, and rate cuts may be transmitted to borrowers in a manner useful to them.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
The Governor said RBI does not limit itself too much when there is uncertainty.
The Bharat Interface For Money app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform. There have been over 17 million downloads of the BHIM app so far.
The Bansals losing out operational control of Flipkart comes at a time when global rival Amazon, in which Tiger Global holds a minority stake, is stepping up investment in India in an attempt to overtake the Bengaluru-based e-commerce firm.
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
'Malicious files can silently sit in your phone and relay data to hackers without your knowledge.'
New offerings by banks are changing the way you transact.
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