On The Web

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Global

Identity Devices launches Biometric Privacy Platform to Safeguard Aadhaar User s Privacy and Data

February 4 2019

• in
• Authentication
• India

“Biometric Privacy Platform (BPP) consists of authentication hardware and software for the Aadhaar ecosystem, preserving convenience while increasing personal privacy and data security and putting the resident in charge of the use of their Aadhaar data including picture, name, address, mobile number and more.”

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Domains

E-commerce marketplaces face three major challenges

January 15 2019

• in
• India
• Remote Commerce

“The department of industrial policy and promotion recently released Press Note 2 of 2018, wherein it has reviewed and clarified the foreign direct investment policy for e-commerce. The changes are set to come into effect from 1 February. The question that plagues the industry is what will be the impact on the sector. Here’s a […]

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Global

RBI issues consumer protection rules for mobile wallets: Users liability limited

January 8 2019

• in
• India

“As per the guidelines, Prepaid Payment Instrument (PPI) issuers will be required to provide a contact number and/or email ID in the transaction alert SMS through which consumers can report the unauthorised transactions or notify objections. If an unauthorised transaction takes place from the customer’s mobile wallet due to the negligence of PPI issuer, then in […]

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Global

Paytm Payments Bank resumes KYC for bank, wallet customers

January 2 2019

• in
• India

“Paytm Payments Bank Ltd (PPBL) has said it has resumed Know Your Customer (KYC) process as well as onboarding new customers after receiving a formal nod from the Reserve Bank of India (RBI). PPBL in June last year was asked to stop adding new customers after an audit by the RBI that made some observations about the […]

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Global

Advantage UPI as eMerchants get a handle on Sarkari Pay

February 12 2019

• in
• India

“Instant inter-bank payment mechanism Unified Payments Interface (UPI) seems to be making big strides with a number of marque internet merchants like Amazon Pay, Ola, Uber and Samsung Pay issuing their own UPI handles.”

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Global

Who Wins and Who Loses if India’s Draft E-commerce Rules are Implemented

February 25 2019

• in
• India

“Some of the measures, such as asking the big players to share their data with the smaller ones and fighting counterfeit products require huge investments, but experts think it’s about time the firms cooperate with the government’s asks. “

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Deals

India’s Mswipe Raises $30M to Grow Its Smart Point-of-sale Terminal Business

April 2 2019

• in
• India
• POS

“Mswipe, an Indian fintech company that develops point-of-sale terminals for merchants, has pulled $30 million in new funding as it bids to triple its reach to 1.5 million merchants over the next year.”

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Global

Exclusive: Tencent Is Launching UPI-powered Payments App WeChat Pay in India

March 25 2019

• in
• India

“Ever since its launch in April 2016, Unified Payment Interface (UPI) has been growing quickly and reached a milestone of Rs 1 trillion worth monthly transactions in December 2018. Sensing the opportunity in digital payments space, several global behemoths including Google, Amazon, WhatsApp and Xiaomi jumped to UPI bandwagon. Following the footprints of above four […]

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Global

Xiaomi Introduces Own Mobile Payment Service in India

March 20 2019

• in
• India
• Mobile wallets

“Chinese smartphone maker Xiaomi has launched its own mobile payment service Mi Pay in India. The Chinese firm received regulatory approval to introduce the service in December last year. The Unified Payments Interface (UPI)-based payments application will enable Xiaomi users to send money to any UPI address and bank account in the country.   Furthermore, […]

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Global

Amazon Pay Makes an Offline Push With ‘scan and Pay’ Service

April 2 2019

• in
• India

“Amazon Pay, the online payments service owned by the world’s biggest online retailer, is planning to introduce “scan and pay” service at neighbourhood stores, said three people familiar with the matter, requesting anonymity. Amazon has already introduced the payments service in department store chain Shoppers Stop, in which the online retailer owns a 5% stake, […]