Payment Apps

RBI says firm can continue with its online payment aggregation business while it awaits Centre's nod for investments from its parent firm One97 Communication into Paytm Payments Services Ltd

Digital financial services firm One97 Communications, which owns the Paytm brand, on Friday announced the launch of its new technology platform built on 100 per cent indigenously developed technology. The company said the new platform can handle 10 times more payments traffic compared to its older platform. "Today by making sure that every component of our technology is made in-house, we have proved that India can build world-class technology software of scale. We have built a new operational risk system and fraud management from the ground up, catering to India's payments growth. "This platform will be able to scale to the next up to 10X payments in India. We are here to serve India with a technology made in India," Paytm founder and CEO Vijay Shekhar Sharma said in a statement.

To take on Google Pay, PhonePe with new PayZapp

PayTM Payments Services and PayU Payments Private Limited are the entities whose application to continue as payment aggregators has been returned by the RBI

Open-source Aadhaar and UPI will be two top digital public goods offered; govt trying to take QR-based authentication and payment services global following success of DBT, payment digitisation

Verification involves manual interventions that can be quite complex

Payment service provider NTT DATA Payment Services India, earlier Atom Technologies, said it has received an in-principle approval from the RBI for the Payment Aggregator license

Joins companies allowed to manage and process merchants' online transactions

Tech giant Apple on Thursday said that the developers in South Korea can now use a third-party payment system, with certain riders.

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc

PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them

Meta-owned Facebook Messenger is also introducing voice message recording controls and a mode for sending disappearing messages

In Dec last year, PhonePe launched a program to allot ESOPs to its 2,200 employees starting at a minimum of Rs 3.5 lakh, cumulatively worth Rs 1,500 crore

Going ahead, experts see the fintech landscape changing rapidly in India as digitisation of customers and merchants opens up new possibilities for players to provide financial services

National Payment Council of India chairman says, 'If the networks charge heavily the entire system will fail'

In the long run, you must migrate to standard life, accident, and health policies

With AllTap, small merchants who aren't ready to invest in a traditional point-of-sale terminal can immediately start accepting digital payments on their NFC-enabled smartphone

Vijay Shekhar Sharma said the crisis had forced more merchants to use PayTM's platforms as businesses were forced to accept digital payments

The group will suggest steps to regulate digital lending including online lending platform and mobile lending

However, traditional channels of distribution such as agents, brokers, and insurance aggregators remain primary channels for insurance-related information searches in India