While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
Fraudsters read your mind, weave convincing stories, earn your trust and then vanish with people's savings. Ramalingam Kalirajan reveals five simple tricks that cons use to steal money from you.
The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. "RBI is now planning to go into the interbank borrowing market.
Don't reveal any information to strangers.
E-commerce companies have understood the importance of having their own in-house wallet, explaining their acquisition spree, says Manoranjan Mohapatra.
Ending Paytm's monopoly as the only wallet payment option on Uber, the ride-hailing service has decided to allow payments through Jio Money. Alnoor Peermohamed reports.
'Investors with as little as Rs 1 can start investing in digital gold.'
With a surge in users and transactions in two weeks, payment wallets step up cashbacks to get more users online.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
Customers using mobile wallets, prepaid payments cards, and paper vouchers such as Sodexo have been absolved of liability for fraud if it is reported within three days.
Here's your ultimate concert guide to the Music of the Spheres World Tour at Ahmedabad's Narendra Modi Stadium on January 25 and 26.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
Choosing the right wallet is crucial, alerts Bindisha Sarang.
'For the next three months or so, the market will go down.' 'Traders do not have Rs 100 notes.'
Vatsal Ramaiya draws wisdom from the Bhagvad Gita and correlates it to how you can build a decent corpus to achieve a peaceful retirement.
As Indians scrambled to exchange the banned notes for new currency, Paytm, Sharma's digital payments startup, went on a promotional spree, inviting Indians to start using Paytm's digital wallet to pay for everyday goods and services.
Amazon Pay UPI has crossed 100 million customers, with the online platform used mainly for e-commerce transactions, utility bill payments and mobile recharges, the company announced on Monday.
After a group of young hackers beat companies that claim to spend a bomb on cyber security, Karan Choudhury reports on just how easy it is to exploit digital wallets.
The complaint from the Manager Legal M Sivakumar claimed that the company makes payment for defective products received by a customer and also arranges a reverse pickup of the damaged product which is sent to the merchant.
Everything you need to know about Coldplay's concert at Navi Mumbai's DY Patil Stadium on January 18, 19 and 21.
Digital gold is gold purchased online from various platforms including Paytm or Google Pay and stored in your online account.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars, according to the company. The move is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India's restrictions earlier this year on associate company Paytm Payments Bank Limited (PPBL) in onboarding new UPI users on the Paytm app. In March, the NPCI gave approval to Paytm to participate in UPI as a Third-Party Application Provider (TPAP).
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
Safety standards are thrown to the wind as government urges consumers to use mobile wallets at petrol pumps, Shine Jacob & Karan Choudhury/Business Standard report from New Delhi.
Both firms have made several applications for patents pertaining to digital payments in the country
The discount will be by way of cash back which will be credited to the buyer's account in three days from the transaction
Electronic transactions are rising fast, so are cases of payment failure and delayed settlement. One needs to be proactive.
India Inc is not in the dark about moonlighting employees. According to a forensic accountant, companies can easily turn to experts and deploy digital tools that can be used to check if an employee is doing a second job or not - reaffirming fears of many who are wary of the practice in the context of the recent sacking of moonlighters by IT major Wipro. Arpinder Singh, global markets and India leader, forensic and integrity services, EY, said that EY had been involved with several companies to gauge moonlighting.
Reserve Bank of India on Friday said NPCI has been asked to examine the possibility of it becoming a third party application provider for continued UPI operations of the Paytm app. The central bank has barred Paytm Payments Bank from accepting further credits into its customer accounts and wallets after March 15, 2024.
'Spending by the middle class is limited with a focus on savings. However, there is buoyancy at the top-end.'
'A lot of them are converted to other tokens, and since crypto is dealt with internationally, it can go to any exchange in any country.'
Companies are innovating with tech tools to ensure that you spend less time at the cash counter.
Monthly and seasonal suburban railway tickets purchased through digital mode will get 0.5 per cent discount from January 1
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have intensified their investigations against Gaurav Mehta, a suspect in a Bitcoin Ponzi scam, following allegations that politicians may have been involved in using cryptocurrency to influence Maharashtra assembly polls. The ED searched Mehta's residence in Raipur and seized computers and digital devices. The CBI summoned him to appear before investigators. The ED is probing Mehta's potential links to politicians, politically exposed persons, and bureaucrats as part of its money laundering probe. The allegations came after BJP released purported voice notes suggesting that Congress and NCP leaders were attempting to use cryptocurrency for election campaigning. Both parties denied the claims, calling the voice notes fake.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
