Uber, this week finally complied with the RBIs 2FA norm, however the company called this requirement as unnecessary and burdensome. With this, a number of cab operators has now urged the RBI to do away with two-factor authentication for small taxi fares of INR 500-1,000.
The week filled with a number of activities including Freecharge launching speak to recharge feature, MartMobi partnering with Shopify to bring compelling mobile experiences to its merchants and online fan merchandise startup Bluegape shutting its business with the comeback plans.
Lets have a look at the 6 important news of the week.
Uber complies with 2fa, hits out at burdensome regulations
Uber this week complied with the RBI August 22, 2014 circular requiring every credit card transaction made with an Indian credit card to include two-factor authentication. The company had tied up with Paytm to offer the services of a semi-closed wallet last month. However, in a blogpost Uber has called this requirement an “antiquated solution that is cumbersome for consumers and stifling for businesses across India” as well as“unnecessary” and “burdensome.”
MatMobi partners with Shopify
Hyderabad based MartMobi Technologies Inc. which provides mcommerce platform for ecommerce sites has partnered with Shopify, a do-it-yourself (DIY) ecommerce platform to bring compelling mobile experiences to its merchants. With this pre-built integration, merchants can acquire an immediate presence on smartphones and tablets. The MartMobi platform provides both mobile sites and native Android and iOS apps.
Cab Operators urges RBI to bring simpler norms
A new appeal has been made to RBI by the cab operators for easier digital payment norms for taxi commuters who typically pay small amounts. They have urged RBI to do away with two-factor authentication for small taxi fares of INR 500-1,000. “We have suggested to RBI to let us start and operate semi-closed wallets which can then be used to buy other things as well,” said Siddharth Pahwa, CEO and founder of Meru Cabs.