Facebook-owned instant messaging platform WhatsApp has received permission from the National Payments Corporation of India to expand its pilot United Payment Interface (UPI) services to 10 million users, according to Nandan Nilekani, the architect of unique identity database Aadhaar and UPI. Nikelani was speaking at an IIT Industry Conclave event on Friday. WhatsApp’s payment feature, […]

A database containing more than 450,000 payment card details of Indian banks has been uploaded on to the darknet, Singapore-based cybersecurity company Group-IB has revealed. The entire database has 461,976 payment card records, of which 98% belong to large Indian banks, the firm said, and was uploaded on to card shop website Joker’s Stash, used […]

By Scott Deveau and Sarah McBride Legendary activist investor Paul Singer is taking on one of his most high-profile targets yet: Masayoshi Son. Singer’s Elliott Management Corp. has built a stake of close to $3 billion in SoftBank Group Corp., according to people familiar with the matter. The New York-based hedge fund believes SoftBank is […]

By Lizette Chapman Uber Technologies Inc. said it will deliver a first-ever quarterly profit by the end of the year, signaling that cost-cutting measures are exceeding even the company’s own recent expectations. The company will become profitable, on an adjusted basis, by the fourth quarter of 2020, Dara Khosrowshahi, the chief executive officer, said on […]

The government has added a clause to the proposed IT intermediary guidelines, making social media companies responsible for all nonuser generated content — including sponsored content — published on their platforms, according to senior government officials. The change is in line with practices in the US and Europe, and will impact platforms such as Twitter, […]

The Reserve Bank of India (RBI) will issue periodic scores to assess the performance of the digital payments industry on key operating parameters such as rural penetration and innovation in existing modes and channels. Called the Digital Payments Index (DPI), the ‘composite’ scoring system will allow both consumers and stakeholders to better gauge local area […]

Speaking at IAMAI’s 14th India Digital Summit, Amazon India head Amit Agarwal talked about various factors that are helping India achieve the $5 trillion economy. His address veered to many topics from digital literacy, to the growth of Artificial Intelligence in the country. He lauded the ‘Bharat Bhasha’ project that IAMAI is working on, which […]

Commerce and industry minister Piyush Goyal on Wednesday said the government is examining representations regarding allegations about some ecommerce companies engaging in predatory pricing and excessive discounts. “Representations have been received in this department (DPIIT) alleging that some ecommerce platforms are engaged in predatory pricing and are providing excessive discounts….These representations are under examination,” Goyal […]

Tatas have started direct selling to consumers through Tata Cliq in the ecommerce marketplace, converting it into an entity which will become a seller holding inventory, and not just a marketplace. The group has also invested over ₹300 crore into this entity — its highest ever — to support this expansion of role, two industry […]

India’s eHealth market, led by the online pharmacy category, is pegged to touch $16 billion over the next five years, from its current market size of $1.2 billion, according to market watcher RedSeer Consulting. The growth will be driven by a massive influx of customers availing of online healthcare services, according to the report titled […]