ONLINE PAYMENT PLATFORM
New RBI credit card rule: Check if your credit card issuer bank is live on BBPS platform; full list of Bharat Bill Payment System billers
New RBI credit card rule:Bharat BillPay is a unified ecosystem that links banks and non-banks in the bill aggregation industry, as well as billers, payment service providers, and retail bill outlets. Below is a list of credit card billers currently active on BBPS as of July 15, 2024.
Karnataka aims to ensure proposed gig workers bill is ‘win-win for all’
The Karnataka government is planning to extend social security benefits to platform-based gig workers in Bengaluru. Tech firms have raised concerns, leading to a wider consultation. The proposed bill may include a fee on online transactions to fund welfare expenditure. The initiative follows discussions with various platforms and aims to protect workers' rights.
'Your online order will be cancelled if you don't update address': Latest India Post delivery scam here, how it works, how to avoid
Online order delivery scam: A new scam has been in regard to delivering online orders in your address. What happens if fraudsters first send a SMS saying that your online order could not be delivered due to incomplete address, so here's a link to update it. When you click on the link it asks for your debit card or credit card details.
Koo calls it a day; Paytm Bank, auditor lock horns
Once touted as India’s response to Twitter, it’s curtains for homegrown microblogging app Koo. Details on this and more in today’s ETtech Top 5.
CAMS aims to be both payment aggregator & gateway, expand into education: MD
CAMS looking to now expand into education as one potential, extra niche that could scale up the business. They are moving forward to be both a payment aggregator and payment gateway and there will be some build-out of opportunity in the education space as well, says MD & CEO Anuj Kumar.
High taxes, selective bans drive 30% growth in illegal online gambling in India, says study
The illegal betting market, already thriving in India, is expected to grow by 30% in the coming years, as per a new study. Inadequate legal frameworks, selective banning, and high taxation on legitimate online gaming platforms seem to be key factors contributing to this trend.
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Hitachi Payment Services receives RBI nod for payment aggregator
Hitachi Payment Services has received RBI's final authorization to operate as an Online Payment Aggregator under the Payments and Settlement Systems Act, 2007. This authorization allows Hitachi to expand its digital services, offering comprehensive payment solutions such as UPI, Netbanking, and BNPL. The company processes over 2.5 billion digital transactions annually and aims to boost digital payment adoption and innovation across India.
A report shows, India's non-cash payments on ecommerce platforms surge to 58.1% from 20.4% six years ago
India has seen the fastest jump in alternative payment share for ecommerce payments in the Asia Pacific region from 20.4% in 2018 to 58.1% in 2023 says a report by GlobalData, a data and analytics company. The report showed that such alternative payments are already popular in countries like China and India and are gaining traction in other APAC markets.
RBI strikes against UPI, digital payment fraud, plans to set up a digital payment intelligence platform
Fight against digital payment frauds: The RBI proposes a digital payments intelligence platform to combat a surge in digital payment frauds. Fraud cases reported to the RBI jumped 300% to 36,000 in FY23 compared to FY22, highlighting the need for a system-wide approach. The central bank forms a committee that will examine setting up this infrastructure to facilitate real-time data sharing across the digital payments ecosystem.
Surprise poll results impact startups' plans, and other top stories this week
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
Jobs that vanish: Stay away from ghost jobs to save time and money
Online job platforms have simplified job searches, but fake or ghost jobs persist, wasting time and effort. Applicants must spot and avoid phantom job postings to prevent demotivation and financial loss.
RBI sets up panel to track online payment frauds; AP Hota to head committee
Along with Hota, representatives of NPCI, State Bank of India, HDFC Bank and ICICI Bank have been made members of the committee. The platform will establish operational guidelines for the proposed processes, determining the extent of data to be provided by reporting entities such as banks and fintechs. The committee will be responsible for defining these guidelines.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed these stories.
Adani Group wants a slice of India's payments and e-commerce pie: Report
India's Adani Group is seeking a licence to operate on the public digital payments network and is in talks with banks for a co-branded credit card. The conglomerate also plans to offer online shopping via the govt-backed Open Network for Digital Commerce (ONDC), according to the Financial Times.
What holiday plans? Indians tripping on last-minute rush
Indian travellers are increasingly opting for last-minute bookings for both domestic and international destinations due to factors like more visa-free options, lower average age of travellers, rising disposable incomes and availability of spontaneous booking choices.
Bitcoin Pizza Day and the rise of crypto commerce
Bitcoin Pizza Day celebrates the first real-world Bitcoin transaction in 2010 when Laszlo Hanyecz, a programmer, paid 10,000 Bitcoins for two Papa John's pizzas. This event marked the rise of crypto commerce, as highlighted by Mr. CEO & Co-founder of Mudrex, a Global Crypto Investment Platform.
Online platforms take to gamification to boost user engagement
For instance, Linkedin says 72% of its surveyed users said playing games such as Pinpoint, Crossclimb, Queens etc. Zomato on the other hand seems to have perfected the art of customer conversions with its Zomato Premier League (ZPL). The gamification strategy is where hyper-casual, tap-and-play games are used to engage customers, speed up sales and enhance revenue.
How to choose the best eCommerce platform for your online store
Selecting the right eCommerce platform is vital for online stores. Consider factors like performance, scalability, transparent pricing, security features, ease of use, and 24/7 technical support. Hostinger's Managed WooCommerce Hosting offers optimised performance, enhanced security, and dedicated support for seamless operations.
The tech mahadasha: Stars align for India's online astrology market
Astrology, once a traditional practice, has transformed into a booming online business. With astrologers now accessible online, the industry is experiencing rapid growth. The pandemic further accelerated this trend, leading to a surge in consultations and subscriptions. The online astrology market in India is projected to grow significantly, driven by tech advancements and changing consumer behavior.
As part of 100-day plan, Govt to launch app to target deceptive methods used by cos to trick consumers: Sources
Within the upcoming two months, the government is set to unveil a mobile application aimed at notifying consumers about deceptive techniques, commonly referred to as dark patterns, employed by online platforms. This initiative, disclosed by a senior official from the department of consumer affairs, forms a crucial component of the department's agenda within the initial 100 days following the formation of the forthcoming government.
Pine Labs ties up with largest bank in Dubai, set to offer payment solution
Emirates NBD will offer Pine Labs' newly launched credit issuing platform to deliver merchant acquiring solutions for its corporate and institutional clients, initially in the United Arab Emirates, then across the Kingdom of Saudi Arabia and Egypt.
Freelancer’s guide to the galaxy of danger zones in recruitment platforms
The gig economy is booming globally, with India seeing a surge in freelancers seeking work opportunities. While challenges exist in finding the right projects, online platforms are playing a crucial role in connecting freelancers with relevant opportunities. To succeed in this competitive landscape, freelancers need to showcase their skills, work with quality clients, and constantly upskill. However, they must also be cautious of red flags.
‘Digitalisation of Schengen Visa application will be a game changer’
Teodora Marinska, COO and Head of Public Affairs at the European Travel Commission, highlighted the benefits of digitizing the Schengen visa application process, making it easier for foreigners to access the bloc. The move aims to address challenges such as limited appointment slots and visa applications due to ease of procedures in certain embassies. Digitalization promises a seamless process with automated appointment allocation.
Shiprocket expands services to boost revenue beyond shipping
Shiprocket, an ecommerce logistics startup, expands revenue streams beyond shipping to include marketing, sourcing, payments, and lending services. Praful Poddar, the chief product officer, outlines the company's revenue sources and growth strategies in detail.
Lightning-fast bill payments with PayZapp: Know how you can pay electricity bills with a single swipe
PayZapp by HDFC Bank simplifies bill payments with digital banking, multiple bill management, one-swipe feature, promo code savings, and versatile payment options. Enjoy efficient bill payments with added benefits across Android and iOS devices.
Groww and Worldline ePayments secure online payment aggregator licence from RBI
The PA licence will allow Bengaluru-based Groww to process online payments by itself. The licence was issued in the name of the company's subsidiary payment business Groww Pay.
Cross-border payments platform BriskPe raises $5 million seed funding from PayU
Fintech Briskpe will use the capital to strengthen its product and service offerings, build up its team, and scale its reach to enable more Indian businesses to set off on their global journey with seamless cross-border payments.
Zomato gets service tax demand and penalty order of Rs 184 crore
The demand order has been received for non-payment of service tax for the period October 2014 to June 2017 determined on the basis of certain sales made by the foreign subsidiaries and branches of the company to its customers located outside India, the company said in a late night regulatory filing.
China central bank approves Tencent's Tenpay capital boost to $2.1 billion
The approval will make Tenpay the non-bank payment institution with the highest registered capital in China, Chinese state-backed media outlet The Paper said.
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