Digital payments company Amazon Pay has received Rs 300 crore in fresh funding from its e-commerce parent entity Amazon, according to filings with the Register of Companies accessed by ET. The latest funds come after four previous capital infusions in 2018, amounting to Rs 1,250 crore. The new investment comes in the wake of increased […]
Social media giants plan push-back on India’s new regulations: Sources
Global social media and technology giants are gearing up to fight sweeping new rules proposed by the Indian government that would require them to actively regulate content in one of the world’s biggest Internet markets, sources close to the matter told Reuters. The rules, proposed by the Information Technology ministry on Christmas Eve, would compel […]
After Paytm, Amazon starts physical KYC verification
Deep-pocketed financial technology players are setting up physical infrastructure to provide know-your-customer (KYC) services for users, following the Supreme Court verdict restricting Aadhaar usage by private entities. Paytm has done it: It put a number of executives on-ground to nudge users to complete their KYC process after the verdict. Now, Amazon has started rolling out […]
Real marker for a business is the money it makes: Snapdeal’s Kunal Bahl
By Kunal Bahl, Snapdeal Last month, during a dinner with business leaders from traditional sectors like cement, textiles, hospitality, etc, the discussion veered towards the soaring losses of digital businesses and whether this was on account of “spray & pray” optimism about a fortune to be made down the road. In the preceding weeks, a […]
Reliance Jio takes first big step into fintech, enters PoS business
Fintech seems to be the next segment that Mukesh Ambani’s Reliance is aiming to disrupt. Payments bank was just the start. After acquiring over 200 million subscriber base, Reliance Jio is now eyeing the merchant community by entering the point-of-sale (PoS) segment. If an industry source is to be believed then the company has already […]
Indian elections top priority for Zuckerberg and Facebook: Katie Harbath
With just four months to go for general elections, Facebook is looking to “ramp up its integrity efforts” in India. This will include “imminent appointment of key personnel, increased advertising transparency, and implementing its learnings from the recently concluded elections in Brazil, the United States (Congress and Senate midterms), Bangladesh, and India (state elections). In […]
Zerodha replaces biggies as largest broker in India
New-age stock brokers which are offering trading services at near-zero costs, are changing the old order at a fast pace, on the back of the rapid adoption of technology in India’s banking and financial services space. Bangalore-based tech-driven, low-cost brokerage house Zerodha, started by a former trader nearly eight years ago, has replaced giants like […]
Ahead of elections, Facebook to ramp up ‘integrity efforts’ in India
With just four months left for India to go for general elections, Facebook is looking to “ramp up its integrity efforts” in the country. This will include imminent appointment of key personnel, increased advertising transparency, and implementing its learnings from the recently concluded elections in Brazil, the United States (Congress and Senate midterms), Bangladesh, and […]
RBI’s new directive likely to ease and secure card payments
The Reserve Bank of India’s latest directive on tokenisation services for card payments could open a new frontier for digital payments, expand ease of use and make card payments safer, said industry executives. On Tuesday, the central bank had said that card companies would be allowed to offer tokenisation services to third-party service providers as […]
Telcos, Paytm & Sharechat for lawful interception of messages on OTT services
India’s top telecom operators, including Reliance Jio Infocomm, and startups such as Paytm and ShareChat favour the lawful interception of messages on internet applications and services, saying it is critical for investigating criminal, anti-national and anti-social activities. Responding to the telecom regulator’s consultation paper on regulating over-the-top (OTT) service providers such as WhatsApp, Jio and […]