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Demonetisation to power 80% rise in digital payments

Saturday, November 4, 2017, 8:02 AM

Demonetisation to power 80% rise in digital payments

Official statistics indicate an 80% increase in the value of digital transactions in 2017-18, with the total amount expected to touch Rs 1,800 crore in the wake of the impetus provided by demonetization. The value of digital transactions till October this year, at Rs 1,000 crore, was nearly equal to that for the whole of 2016-17, according to the ministry of information technology.

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India Post's payments bank to open 650 branches by April-May

Friday, November 3, 2017, 6:30 PM

India Post's payments bank to open 650 branches by April-May

The government is gearing to open 650 branches of India Post Payments Bank (IPPB) by April-May next year as it looks to facilitate financial inclusion across the country, primarily in rural areas. As per Communications Minister Manoj Sinha, the branches are likely to be functional in all the 650 districts of the country by April-May next year and all the rural post offices will be connected to these branches.

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Not only for payments, you can now use Paytm to chat using its 'Inbox'

Friday, November 3, 2017, 1:26 PM

Not only for payments, you can now use Paytm to chat using its 'Inbox'

In a bid to facilitate social engagement between customers and sellers, digital payments platform, Paytm has now come up with a new messenger. Paytm Inbox could emerge as a competition for the popular messenger, Whatsapp, considering they almost have the same features. Not only can users chat with friends, family and sellers, Paytm Inbox also allows the users to make transactions.

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Aadhaar-verified passengers can book 12 railway tickets a month online

Friday, November 3, 2017, 1:15 PM

Aadhaar-verified passengers can book 12 railway tickets a month online

Indian Railways has increased the monthly cap on tickets booked on the ICRTC portal from six to 12 for Aadhaar-verified passengers, officials said. The move, which came into effect on October 26, is believed to be an innovative way for the railways to encourage passengers to link their Aadhaar numbers to their online booking accounts on IRCTC.

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Paytm launches ‘payments over chat’ feature

Friday, November 3, 2017, 7:56 AM

Paytm launches ‘payments over chat’ feature

Paytm launched a “chat” feature on its payments app that allows users to send and receive payments natively, in a major move towards introducing social payments in India.The latest update will include ‘Paytm Inbox,’ a chat messenger-like interface. It will allow users to send, receive and even send a request for funds from within messenger, besides usual functionalities like texting, media-exchange and location sharing.

News

 
FASTags become mandatory for new cars, trucks, buses from December 1

Friday, November 3, 2017, 7:27 AM

FASTags become mandatory for new cars, trucks, buses from December 1

All new four-wheelers will need to get FASTags fixed on their front windscreens before these come out of factories or from dealers from December 1, the transport ministry notified on Thursday. In the case of vehicles, which have drive-away-chasis including trucks and buses such as trucks and buses, the FASTags will be installed by owners before their registration.

News

 
What is FASTag?

Friday, November 3, 2017, 7:26 AM

What is FASTag?

NHAI has rolled out program for Electronic Toll Collection on Toll Plazas on National Highways to be called FASTag. FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid account linked to it. It is affixed on the windscreen of your vehicle and enables you to drive through toll plazas.

News

 
PayPal's India Pay to open for business in a week

Thursday, November 2, 2017, 9:43 AM

PayPal's India Pay to open for business in a week

Global digital payments pioneer PayPal is set to offer domestic payment services in India from next week, said people aware of the matter, entering a market rapidly overcrowding with domestic and global companies. PayPal, which has established a local subsidiary, would have to battle market leader Paytm as well as Google's Tez, Facebook's WhatsApp, Flipkart-owned Phonepe, and Amazon Pay for a share of India's retail payments pie.

News

 
Google’s Tez captures 67% share of m-payments in Oct

Thursday, November 2, 2017, 7:24 AM

Google’s Tez captures 67% share of m-payments in Oct

Google's entry into the Indian payment space has fired up the Unified Payments Interface (UPI) platform — Bhim app. The UPI-enabled payment app Tez, launched by Google in September 2017, has grabbed 67% market share in terms of transactions for the month of October 2017. According to industry persons, 7.5 million Android users have been making trial transactions sending small amounts to each other.

News

 
PhonePe eyes offline market with low-cost PoS devices

Wednesday, November 1, 2017, 11:29 AM

PhonePe eyes offline market with low-cost PoS devices

Online retailer Flipkart's payments arm PhonePe launched on Tuesday a low-cost point-of-sale device, as part of the company's strategy to tap into the offline market, competing directly with Noida-based rival Paytm, which has a strong offline presence through its QR codes. The device, which is integrated with a bluetooth and doesn't require internet connection, will be piloted with 5,000 merchants in Bengaluru.

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