While brick-and-mortar retailers have been the most vocal in their protests, e-tailers do not seem to be in a hurry.
Shine Jacob & Karan Choudhury highlight the red flags raised by the Controller General of Accounts.
Paytm CEO Vijay Shekhar Sharma said on Wednesday that the company's share market performance has been in line with that of global peers in the sector over the past six months due to macroeconomic factors. "Macro factors like quantitative easing, free money due to US monetary policy and other parameters led to a spook in the market in terms of pricing the IPO. "Paytm's shares have received a similar response to that of global peers in the last six months...But that is not a complete reasoning.
While some are relatively new in this business, Vodafone, which has 1.8 million touch points in the country, has been offering basic banking and payment services through its pre-paid mobile digital semi-closed wallet called M-Pesa since 2012.
Meru Cabs, India's largest radio cab service provider has introduced alternative payment facility for their passengers in Hyderabad city.
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
A large number of people using cards at PoS Cards being used more frequently Small-ticket transactions Mastercard South Asia head Porush Singh calls these the three key trends for a cashless future. And post-demonetization India, he believes, is steadily moving towards it.
E-commerce giant Amazon and Infosys co-founder N R Narayana Murthy's Catamaran Ventures have "mutually decided" to not continue their joint venture (JV) beyond the end of its current term. The JV, Prione Business Services, which has been running successfully for the past seven years, was coming up for renewal on May 19, 2022. The JV enabled over 300,000 sellers and entrepreneurs to go online. It also enabled 4 million merchants with digital payment capabilities, providing these small and medium-sized businesses (SMBs) and merchants access to millions of customers across the country.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
According to reports, the deal is estimated to be close to $300 mn.
Telecom operators, including Reliance Jio, have been demanding "same service same rules" regime which means that mobile applications providing calls and messaging services should also be made to comply with set of rules that are mandatory for mobile service providers.
The prime minister initiated the discussion on the move, which was announced last month, with the ministers after the meeting of the Union Cabinet ended in New Delhi.
Sai Manish & N Sundaresha Subramanian offer a fresh perspective on the digital wallet business.
The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
The NITI Aayog may want us to believe this is one of the easiest payment systems in the world, but Tinesh Bhasin decodes the many unanswered queries and concerns involving the United Payments Interface.
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
Every customer, on opening a Payments Bank account, will get a cashback of Rs 250 as soon they bring deposits of Rs 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
Mastercard recently launched an authentication product called Identity Check Express that enables customers to verify transactions on their own.
Indian Sellers Collective (ISC), a trade association of micro and small enterprises and family businesses, on Wednesday urged IT veteran NR Narayana Murthy to cooperate in the Competition Commission of India's antitrust probe against Amazon for alleged anti-competitive practices. In 2014, Murthy's Catamaran and Amazon had formed a joint venture, Prione Business Services. On Monday, the partners announced that they have mutually decided not to continue the JV beyond May 2022. ISC thanked Murthy for deciding to end the joint venture with Amazon.
Absence of comprehensive data protection and privacy laws will be barriers in the government's digitalisation drive.
Paymate, a leading mobile commerce company, is in talks with Indian Railways to implement a system for booking tickets through SMS
The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
In the past decade, Barmer's rural economy has been transformed by two separate energy projects.
Today pay-later services are available for practically anything under the sun. And these include small purchases like clothes, gadgets, movie tickets, and even food.
Like Indira Gandhi, even Narendra Modi seems to be relying on directing public-sector banks through ministry of finance supported by party cadres, says Debashis Basu.
From liquidity, monetary policy operations to financial inclusion, know about RBI monetary policy
A parliamentary panel has recommended replacing the word 'seamen" with 'sea-persons' in the Merchant Shipping Amendment Bill, which aims at governing the welfare of seafarers, to make the legislation gender neutral.
The Alibaba-backed company had introduced the fee on March 8 after it found multiple users using its platform to get free credit by using credit cards to top up their mobile wallets and then transferring the money back to their bank accounts at zero transaction cost.
It is possible that this experiment might see a rise in the Union government's cost incurred on tax concessions, without any increase in the tax base or coverage, says A K Bhattacharya.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
With the arrival of new players such as Amazon Pay, Google Tez and Flipkart's PhonePe, digital money companies are now changing their business pitch.
Terming demonetisation as an 'unplanned and unthought process', Vadra wrote, "The government seems to have reached its levels of desperation to overcome the initial blunder it created."
A committee on digitalisation headed by Andhra Pradesh Chief Minister Chandrababu Naidu had in an interim report recommended taxing cash transactions of at least Rs 50,000 to promote digital payments.
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.
Paytm is just embarking on building a TaoBao like entity in India, it may want to address a challenge that the latter faced a few years after its launch.
The Indian Navy rescued 26 people, including 11 Indians on-board a sinking merchant vessel with the help of an Italian warship after they were released by Somali pirates following a ransom payment. After being in captivity in Somalia since April last year, MV RAK Africana, a ship owned by captain Ajay Kotwal, could not sail out of the Somali coast on March 9 because of engine problems, Navy officials said.
Net1's chief executive and chairman Serge Belamant said the Indian government was interested in the biometric verification technology that the company has been using in South Africa.
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