Wednesday, April 24

News

Indias Leading Ecommerce Company Saves Rs 3 Crore Per Month Using Anti-Fraud Policy
28Mar By Press Trust of IndiaNo Comments
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Indias Leading Ecommerce Company Saves Rs 3 Crore Per Month Using Anti-Fraud Policy

E-commerce firm Snapdeal today said various anti-fraud measures taken by it have resulted in savings of Rs 3 crore per month for the online platform. "From checks on bogus or fake sellers to identifying fake user accounts, to deploying sophisticated algorithms that identify any suspicious trends, Snapdeal has consistently been working on enhancing security and transparency across the entire ecosystem. "The initiatives have resulted in the company saving close to Rs 3 crore per month," Snapdeal said in a statement today. Snapdeal said that range of initiatives launched at curbing fraudulent online transactions using analytics are accruing massive cost savings for the company. "For instance, based on purchase patterns and past behaviours, the system can identify whether a seller ...
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This is Why India’s EVMs Best in World; Secure, Robust, Tamper Proof
27Mar By PriyankaNo Comments
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This is Why India’s EVMs Best in World; Secure, Robust, Tamper Proof

New Delhi: All of a sudden this month the nifty Indian invention, the unique electronic voting machines that were hailed to be the harbingers of free and fair elections in India, are being made out to be the villains of the piece. So have the machines suddenly become fallible and has anybody ever hacked into them? The machines are the same and nobody has ever hacked them, the problem could lie elsewhere in depleting political values. The independent Election Commission of India (ECI) says "it completely reaffirms its faith in the infallibility of the EVMs these are fully tramper-proof as ever". It adds "baseless, speculative and wild allegations are being made which deserve to be rejected". There is an old saying the "winner takes it all and the loser cries foul"! The stunning resul...
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PayU plans Digibank, aims to generate $100 mn revenue by next FY
26Mar By RishabhNo Comments
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PayU plans Digibank, aims to generate $100 mn revenue by next FY

Financial technology firm PayU is planning to set up a Digibank service in the next 12-18 months and expects to clock revenues of USD 100 million (Rs 654 crore approx) by March 2018. "Our long-term plan is to set up Digibank which will look at easing account opening for youth and provide banking services to those who are unbanked and have no access to credit. We plan to set this bank in next 12-18 months," PayU CEO B Amrish Rau. He said that the company will not require to set up a brick and mortar structure for the Digibank. PayU at present provides financial technology to merchants for facilitating online payments. Rau said that PayU witnessed transactions worth Rs 6,000 crore on its platform in January which the company expects to double over the next one year. "We have over 3 ...
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Amid Stayzilla Controversy, Karnataka IT Minister Said No Startups, Vendors Are Above The Law
26Mar By AnkitaNo Comments
INDIA, News

Amid Stayzilla Controversy, Karnataka IT Minister Said No Startups, Vendors Are Above The Law

Amid the raging Stayzilla controversy, Karnataka IT Minister Priyank Kharge today said no industry, including startups and vendors, are above law and should function within the parameters and anybody raising money should pay up. Yogendra Vasupal, co-founder of Stayzilla, was arrested on March 14 for alleged cheating and criminal intimidation. "Stayzilla controversy has been blown out of proportion. However the advise I would give in this whole episode is that there are rules and regulations for everyone - whether it is for SMEs, startups or big corporations."If you have raised or taken money, you have to pay up. You cannot say I will not pay," Minister told Pixr8. Asked whether advertising firm Jigsaw alone should be blamed for the entire Stayzilla episode, as alleged by Vasupal, ...
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Amazon, Grofers, Big Basket May Invest $695 Million in Food Retail
26Mar By AdityaNo Comments
News

Amazon, Grofers, Big Basket May Invest $695 Million in Food Retail

The government has received investment proposals from three companies, including Amazon and Grofers, worth USD 695 million for retail of food products in India under the new FDI policy. "Three companies Super Market Groceries Supplies (Big Basket), Grofers India and Amazon Corporate Holdings have submitted their proposals for seeking permission to make investment of USD 695 million over a period of time," an official statement said today. The government had last year allowed 100 per cent FDI for marketing, including through e-commerce, of food products manufactured and produced in India. Earlier in the day, Food Processing Minister Harsimrat Kaur Badal announced that Amazon has decided to invest about USD 500 million in e-retail of food. "We allowed 100 per cent FDI in trading ...
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Digital Content Industry Confident of Finding Place in Market
26Mar By Press Trust of IndiaNo Comments
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Digital Content Industry Confident of Finding Place in Market

The digital content industry is confident of finding its place in the market soon, with the advertisers rising interest in it and the Broadcast Audience Research Council planning a measuring tool for the segment. The largely advertising driven and free subscription based over-the-top (OTT) platform is in a nascent stage in the domestic market with a dozen or so players. Being digital, it offers higher addressability and measurability of both the ads as well as the content. "Digital (market) is taking baby steps now to create content for the discerning people who want original content. Give this industry a year or two and you will see a big change," Viacom18 Digital Ventures Chief Operating Officer Gaurav Gandhi said over the weekend here. The YouTube, which is an ad-funded and use...
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Uber Stalls India Leasing Scheme as Driver Incomes Drop – Sources
25Mar By reutersNo Comments
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Uber Stalls India Leasing Scheme as Driver Incomes Drop – Sources

Global ride-hailing firm Uber Technologies is rethinking its car leasing strategy in India, its second-biggest market, as drivers have returned dozens of leased cars early after the company cut incentives, people familiar with the matter told Reuters. Uber had planned to buy 15,000 new cars last year and lease them out in a bid to attract more drivers - a strategy it has used in other markets - but it suspended the scheme for a while in December after leasing just a third of that total. After burning through millions of dollars over three years in a battle for market share with local rival Ola, backed by Japan's Softbank , Uber has cut the incentives it gives to drivers and raised the fares it charges passengers. The incentives - from free smartphones to cash bonuses worth as much...
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App Usage Grows 43℅ in India And Few Categories Lead in It
24Mar By AdityaNo Comments
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App Usage Grows 43℅ in India And Few Categories Lead in It

43 per cent in 2016, with entertainment and finance categories witnessing highest traction, as per a study by Yahoos Flurry Analytics. "Indias app usage grew 43 per cent year on year. The India app usage grew at 92 per cent during the same period last year (2015)," the State of the App Nation in India study said. Messaging and social apps remain one of the most engaged categories in Asia and India. Time spent on messaging and social apps grew by an impressive 52 per cent in India compared to 44 per cent globally. Globally, app usage grew by only 11 per cent, it said. "The decelerating rate of global growth could signal market maturity, saturation or simply the end of the app gold rush. "Going back to Indias six-month mobile trend delay, theres no better time for local develo...
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Musafir.com Launch It’s Technology Center in Pune
24Mar By AdityaNo Comments
News

Musafir.com Launch It’s Technology Center in Pune

Musafir.com, one of the leading OTAs in India, today announced the launch of its third technology center in Pune. Musafir.com is looking to double its technology team by the end of the year. The Pune center will complement the technology and product teams that are already operating out of centers in Mumbai and UAE. Technology is at the heart of the aggressive business strategy being pursued by Musafir.com. "Musafir.com was founded with the promise of a stellar user experience backed by the best technology. The establishment of our third technology center in Pune reinforces our commitment to this promise. Our aim is to double the strength of our engineering team by the end of the year, and herald a new generation of innovative user experiences for our travellers," said Albert Dia...
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Airtel Hits Back After Jio Allegation Over Ookla backing
22Mar By AdityaNo Comments
News

Airtel Hits Back After Jio Allegation Over Ookla backing

Bharti Airtel today lashed out at Reliance Jios allegations around its fastest network ad campaign, saying the complaint is a deliberate attempt to "malign the brand" and "misguide customers". Further, mobile internet speed testing firm Ookla has stood by the finding that Airtel had the fastest broadband network in the country, a claim which has been challenged by Reliance Jio. "Ookla fully stands behind Airtel being named India?s Fastest Mobile Network," Speedtest (Ooklas app) COO Jamie Steven said in a statement. Ookla has named Airtel as the "Fastest Mobile Network" in India based on data from Q3 and Q4 of 2016 which has been challenged by Reliance Jio. Jio has approached advertisement sector watchdog ASCI against Bharti Airtel, saying the latters claim of being "officially ...
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Nokia’s Mobile Networks Head Quits, to Split Business
19Mar By NitishNo Comments
News

Nokia’s Mobile Networks Head Quits, to Split Business

Nokia's head of mobile networks, the division which accounted for more than half of the Finnish telecom network equipment maker's sales last year, is leaving the company. Nokia said on Friday it would break out services as a distinct business group from mobile networks following the departure of Samih Elhage, who joined the company in 2012 and helped to turn around its network business at a time when it was a troubled joint venture with Siemens. Services were growing in importance because of the weak global outlook, Nokia said. The global networks market is expected to fall this year as telecom operators' demand for faster 4G mobile broadband equipment has peaked, and upgrades to next-generation 5G equipment are still years away. "He has been a close friend and advisor... I fully su...
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