Friday, March 1

Tag: digital payments

PayPal First time introduces ‘OneTouch’ For Indians to enhance User Experience
Tech

PayPal First time introduces ‘OneTouch’ For Indians to enhance User Experience

Paypal India has introduced 'OneTouch' experience using Google Smart Lock for its users in India that will allow them to stay logged onto the digital payments platform in a secure manner. India is the first market where the feature will be integrated with Google Smart Lock, Paypal India said in a statement. Users can register their Android device with PayPal and stay logged into the platform for all subsequent PayPal purchases on that device. This removes the hassle of repeatedly needing to log in and thereby, offering a frictionless payments experience, it added. "Consumers once logged in will still need to go through the two-factor authentication step to complete the transaction as per applicable regulations," it noted. With One Touch, consumers will also not need to retr...
GO-JEK to Bring in 200 Engineers on Board in Bengaluru
News

GO-JEK to Bring in 200 Engineers on Board in Bengaluru

Indonesia-based ride-hailing player called GO-JEK has been planning to appoint 200 engineers in Bengaluru. This is being done to expand the portfolio of products in food delivery, taxi-sharing, logistics and digital payments among others. This step is being taken by the company with an aim to expand its presence across SouthEast Asia. In May, GO-JEK had said it would invest $500 million to enter markets like Philippines, Singapore, Thailand and Vietnam. It was last month that the company forayed into Vietnam's capital of Hanoi under the brand Go-Viet. With this, GO-JEK stated that it would be bringing in key officials across various product segments such as Data Scientists, Full-stack engineers, Data Engineers, Product Managers, UI/UX designers and Backend Engineers. The basic purpos...
Google Pay Updates its Privacy Policy Soon After Paytm’s Complaint
Tech

Google Pay Updates its Privacy Policy Soon After Paytm’s Complaint

Google has reportedly updated the privacy policy of its Indian digital payments application Google Pay, days after the homegrown rival Paytm complained that the tech giant's platform allowed disclosure of customer data for advertising and other purposes. In a letter to the National Payments Corporation of India (NPCI), Paytm complained that Google Pay's privacy policy amounted to "clear disregard for a consumer's need for privacy". Google Pay's privacy policy had stated that it could "collect, store, use and/or disclose" personal data and "any communications made through Google Pay". Further, Google stated that it had updated its privacy policy and dropped the word "disclose" from its privacy clause. Also, it stated that the changes were made to make it easier for customers to unders...
Google Pay Crosses 25 Million Monthly Active Users in India
Tech

Google Pay Crosses 25 Million Monthly Active Users in India

The digital payments platform that was recently rebranded from Tez to Google Pay by the technology giant Google has crossed the milestone of 25 million monthly active users who have in total carried out about 860 million transactions over the past year. Recalling the progressive one year since the launch of Google’s payment offering in India, Caesar Sengupta who is the vice president for payments in the company stated that the app has seen widespread adoption from Kanyakumari in Tamil Nadu to Mandvi in Gujarat and Dimapur in Nagaland. “You are using Google Pay for your bills, your rent, the chaiwallah, the plumber and even your bus rides,” Sengupta said. Google claimed about 1.2 million businesses in India have adopted its payment platform as their preferred mode of payment. Google Pa...
PhonePe Teams Up with IRCTC to Facilitate Digital Payments
News

PhonePe Teams Up with IRCTC to Facilitate Digital Payments

The emerging digital payments player PhonePe which is owned by Flipkart announced that it has teamed up with Indian Railway Catering and Tourism Corporation (IRCTC) to make digital payments easier and smoother through PhonePe on the IRCTC Rail connect Android app. This partnership will ensure the ease of payment with the help of PhonePe as a payment option on the IRCTC Rail connects Android app for their travel bookings. At present, the PhonePe app has options for payments through UPI, credit & debit cards and its own wallet. "We are extremely delighted to partner with IRCTC which has been a trusted platform for India's travel bookings. Through this partnership, we aim to boost digital payments across India. PhonePe offers IRCTC users the choice of using UPI along with all the othe...
Amazon India Offers Cashback to Customers Celebrating Wallet Success
News

Amazon India Offers Cashback to Customers Celebrating Wallet Success

E-commerce giant Amazon is loading cash to its digital wallet for customers in India as it is actively pushing to deepen its footprint in the country battling competition from rivals-Alibaba and Walmart. A letter dated June 5 issued to customers, which also marked the fifth anniversary of launch in India, Jeff Bezos, Amazon founder offered a cashback of Rs 250 to be paid into Amazon pay wallets for customers who shopped online for goods worth Rs 1000 on Wednesday. It is interesting to note that the US retail giant has reported a 126% growth in transactions and 68% growth in unique users in its Indian business operations. Amazon has invested Rs. 700 crore in its Indian digital payment business since 2016 as it is looking forward to boosting its e-wallet and bring in new innovations...
Paytm Will Invest $745 Million in Its Financial Services
News

Paytm Will Invest $745 Million in Its Financial Services

Paytm, the digital payments giant is ready to bring its service to the next level with investment plans of over $745.16 Mn (INR 5,000 crore) in its central business. In an interview with ET, Founder and CEO of Paytm, Vijay Shekhar Sharma announced that the company is targeting to double the amount of transactions it records every quarter to 2 billion by the end of 2018. To achieve this target, Paytm will invest $745.16 Mn in payments and predominantly in the financial services. The focus on financial services is because “customer lifecycle is getting to the next level of maturity.” “It’s a logical extension as we worked on commerce last year like travel and ticketing, where we are just a few notches below market leaders. Our obligation will always remain to increase the market size ...
Sectors Contributing To India’s next $100 Billion Growth
INDIA

Sectors Contributing To India’s next $100 Billion Growth

According to the Boston Consulting Group (BCG)-Google India report, digital consumer spending in India is expected to rise to $100 billion from $40 million by 2020. The report that hit the surface on Thursday, marked the potential of the consumers to spend at a much greater level than they already are. The report suggests, the growth in the upcoming years will be led by the increase in the market size of the following sectors :-  In E-commerce the market size will increase by consumer spending, more on Apparel & Consumer Electronics thus increasing the market size from $18 billion to $ 45 billion by 2020. In  Travel and Hotel, the market size will grow from $ 11 billion to $ 20 billion by 2020, specifically with the increase in the International air Travel. In Financial S...
PayPal Starts Payment Services In India
News

PayPal Starts Payment Services In India

Payment processor PayPal Holdings Inc on Wednesday launched domestic operations in India, a market already dominated by China’s Alibaba-backed PayTM, the country’s leading digital payments firm. PayPal’s entry in the Indian market comes as a push for cashless transactions by the Narendra Modi-led government is seeing more people use e-wallets and card payments. The online payment industry is pegged to grow tenfold to $500 billion by 2020. “India is transitioning away from our biggest competitor – cash – and our digital platform and technology has immense scope to enable this at scale,” Anupam Pahuja, country manager and managing director, PayPal India said. “For us, the marathon has just begun.” Alphabet Inc’s Google launched a localized payments app for India in September, tryi...
Flipkart’s Wallet Phone Pe Launches Calculator Lookalike PoS Device
News

Flipkart’s Wallet Phone Pe Launches Calculator Lookalike PoS Device

Indian e-commerce Unicorn Flipkart's digital wallet Phone Pe has made a bold move to challenge Paytm, by launching a unique PoS(Point of Sale) device- which looks like a small calculator backed with Bluetooth technology as a payments solution for merchants. The device has several features that makes it fit for a Indian merchants. Priced at  $10(around Rs 650), it can run for months, powered on a AA battery and relying on nothing the consumer's smartphone data connection. “It looks and feels and acts like a calculator, it costs less than $10 (nearly ₹650) and it is a plug and play product,” Phone Pe CEO Sameer Nigam told reporters at a conference in Bengaluru, launching the device. “Most payment solutions today do not address the basic problems. Merchants need a durable, cheap and ...