The largest e-commerce entity of China is setting up its first India office -- an indication that it intends to capture a pie of the growing e-commerce market here. Raghavendra Kamath & Alnoor Peermohamed report.
The Unified Payment Interface could propel banking into a new era
The ministry will engage 30 young graduates, postgraduates and PhD-holders in the fields of urban planning, urban design, engineering, information and technology, urban mobility, finance, social sector, and environmental issues.
The discount will be by way of cash back which will be credited to the buyer's account in three days from the transaction
Vijay Shekhar Sharma, head of Paytm, says they'd achieve their 500-million user target by 2018, two years before the earlier aim.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Add to it, associate sponsor companies like Unacademy, Dream11, CRed, Upstox, and Tata Motors, who pay in the range of Rs 120 crore each. Some subsidiary sponsors are also there.
At 4.35 pm, a tweet from the verified Twitter handle of the Aarogya Setu mobile application said the CoWIN portal is working and that there was a minor glitch at 4 pm, which was fixed.
While looking at consumer behaviour in the post demonetisation period, the research found that rural consumers were equally enthusiastic about cashless payments.
Rating agency Icra on Wednesday said while there is some evidence of the economic recovery becoming broad-based in the third quarter of fiscal 2022, it is yet to attain the durability being sought by the Monetary Policy Committee (MPC) as a precursor to policy transmission. The agency expects the real GDP to expand 6-6.5 per cent year-on-year in the third quarter of FY2022 (+8.4 per cent in Q2 FY2022). It also sees the RBI maintaining the status quo in the upcoming monetary policy review to be held in February.
Don't opt for the moratorium unless critical, advises Charlie Lee, founder and CEO, True Balance.
The mobile wallet player plans to add more Chinese sellers to its e-commerce platform and boost technology for its soon-to-be-launched payments bank
The teen, who was with her younger sister when the attack took place at Mohan Garden near Uttam Nagar, has named two persons who could be responsible for the attack.
The firm chooses UP for payments bank launch in February. Karan Choudhury reports.
Facing severe attack in the wake of difficulties thrown up by demonetisation, the government on Thursday night extended till December 15 the facility of using old Rs 500 notes in public utilities
21 banks have launched United Payments Interface application.
Banks have started charging customers for payment of credit card bills through cheque and so paying online makes more sense.
Jio is planning to win over 350 million 2G feature phone users by launching a smartphone at a fraction of the current cost.
After a month long gap, the primary market is heading for a busy time, with five firms including Paytm parent One97 Communications and policybazaar parent PB Fintech have lined up their IPOs in the first half of November to raise over Rs 27,000 crore collectively. The other three firms whose initial share-sales are set to open are Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises and microcrystalline cellulose manufacturer Sigachi Industries. The IPOs of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, and Fino Payments Bank are currently open for public subscription.
Profit of $18 billion was the biggest ever reported by a public company, worldwide.
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.
The Tata group has proposed to acquire more than 60 per cent stake in online grocery platform BigBasket, according to a filing, as the conglomerate seeks to expand in the fast-growing e-commerce space. The group plans to buy up to 64.3 per cent stake in Supermarket Grocery Supplies Pvt Ltd (SGS) through a combination of primary and secondary acquisitions, a filing with the Competition Commission of India (CCI) showed. The parties to the proposed deal are Tata Digital Ltd (TDL), SGS and Innovative Retail Concepts Pvt Ltd (IRC) -- which is engaged in B2C (Business to Consumer) sales through www.bigbasket.com and related mobile applications.
VIL, in which Vodafone holds 45.39 per cent stake, is staring at unpaid statutory dues of Rs 53,038 crore, including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, and has already warned of shutdown if no relief is given.
The country's largest lender State Bank of India has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, chairman Dinesh Khara said. The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said.
The country's largest bank, which has about 25 per cent market share, has also decided to do away with the charges on fund transfer through mobile phones using the IMPS from August 1.
Although the industry is disappointed with the government decision not to lower spectrum prices at a time telcos are saddled with over Rs 4-trillion debt and an estimated Rs 1.43-trillion licence fee dues, the DCC has relaxed the payment structure to offer some relief to the financially stressed sector.
'The money is readily available to the depositors.'
The NCB further said both Rhea Chakraborty and her brother had "abetted and financed" drug transactions.
In significant push towards a less-cash economy, Prime Minister Narendra Modi on Friday announced starting a biometric payment system using Aadhar platform within two weeks even as he exhorted citizens to adopt digital currency from the new year.
Mastercard is keen on being known not as a payments player but a technology company.
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.
'The option to re-open restaurants comes as a big relief to restaurateurs. Although, it is a good development, not all restaurants are geared up to re-open immediately. 'We expect only around 30 per cent of the restaurants to open starting Monday and the rest will re-open gradually through the month,' Hotel and Restaurant Association of Western India (HRAWI) senior vice-president Pradeep Shetty said in a statement.
This is the last lot of payments that telcos will make towards deferred spectrum liabilities, as the Union Cabinet had late last year approved a two-year moratorium on such spectrum payment dues.
India must remain an integral part of the global economy if it has to grow at 9-10 per cent over the next three decades, Niti Aayog CEO Amitabh Kant said on Tuesday. Speaking at the 15th India Digital Summit, Kant said India needs to become a major global exporting nation, without that it will not be possible to become richer and create wealth for its people over the next three decades.
Customers may have to wait three to four weeks to get their hands on Apple Inc's iPhone 6 Plus, after a record number of orders for the company's latest smartphones strained available supply.
As much as Rs 8,000 crore worth of mobile phones in this segment - out of a total of Rs 15,000 crore - come into the country through the grey market. The government imposed the duty on these phones primarily to encourage domestic production but the strategy has failed as the bulk of high end mobile phones are currently imported.
Domino's India data that included sensitive customer information such as their names, phone numbers, and credit card details has allegedly been breached and put on sale on the dark web. According to tweets by Israel-based Co-Founder and Chief Technology Officer of cybercrime intelligence firm Hudson Rock, Alon Gal, the data is worth 13 terabytes (TB). He tweeted on Sunday that the data includes as many as 180 million order details, including 1 million credit card details. The data, said Gal, was up for sale on the dark web. The threat actor, he said, was asking for $550,000 for the data.
Prasad, 80, had shot to fame after a video of him tearfully recounting the desperation of the months since the lockdown was shared widely across social media platforms recently.
