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Global

India moves towards interoperable mobile wallets

“The Reserve Bank of India (RBI), the country’s central bank, has issued the final set of guidelines for new rules designed to enable mobile wallet users to easily make payments and transfer funds to users of competing mobile wallet services. Reserve Bank of IndiaThe new rules are set out in Prepaid Payment Instruments (PPIs) — Guidelines […]
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Global

Here’s the hard truth about e-commerce sales in India

““The myth that brands indulge in deeper discounting during [the] sales period as compared to [the] non-sales period is not really true,” Ace Turtle, which gathered data across one million products sold by more than 30 fashion brands to over 20,000 postcodes, found.”
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Global

RBI sticking with plan to force payments firms to store data locally

“The RBI in April said all payments data should within six months be stored only in the country for “unfettered supervisory access”. The deadline for the companies to adhere is 15th October. The directive is part of a wider push by India to ask companies to store more of their data locally at a time when […]
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Global

Use single e-wallet account for all your digital payments soon

“Those who do not use Paytm, and use MobiKwik or Oxigen instead, end up withdrawing cash from a nearby ATM to pay their share, or do a bank transfer. This was because you cannot transfer money from one e-wallet to another as of now. This is set to change soon. The Reserve Bank of India has issued guidelines on […]
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