Google Pay

Google claims that the move will bring the convenience of a card in a smartphone

Small scale pilots are being run across retail stores in India

Flipkart’s PhonePe is also experimenting with offline payments

Unified Payments Interface (UPI) is an instant real time payment system

This is just 0.3% rise from January where UPI recorded 672 Mn transactions

The value of the transaction for February stood at 1.06 Lakh Cr

Amazon which recently began testing its UPI platform has now gone live

Users can now complete the transaction process by using their own unique UPI IDs

UPI had recorded a total of 672.75 Mn transactions in January

Paytm recorded 221 Mn transactions in January 2019

PhonePe and Google Pay clocked nearly 220 Mn transactions each in January 2019

Further, the average ticket size of a UPI transaction is about INR 1,600

Two separate letters were sent to the internet companies seeking clarity on their plans

WhatsApp had earlier claimed to have set up a system to comply with the ruling

Google who supported the move had sought an extension for complying with the directive

The US-companies have also written a letter to the Finance Minister, expressing their objection over the presence of iSPIRT members during the meeting

All payments companies that are operating in India need to store their data locally, latest by October 15

Around 16 out of 80 companies have not complied with the RBI directive yet

Paytm claims to have registered over 137 Mn UPI transactions in September 2018

20% of all payments on Paytm App are through BHIM UPI

UPI surpasses credit card and netbanking for on-app and offline payments

Google storefront will display its branded hardware products

At present users can search retailers selling the listed products using the pre-launch version of storefront

After launch of the actual version, users will be redirected to partners page where they can pay and buy the product

Paytm has raised concerns that Google is sharing the payments data of Indian consumers with affiliate companies and third-party users

In a letter to the NPCI chief Dilip Abse, Paytm said that WhatsApp was directed to stop sharing users’ data with its parent company, Facebook

A Google spokesperson said the company doesn't use any individual UPI transactions data for monetisation purposes like advertisements

The Indian Ministry of Civil Aviation has released Drone Regulations 1.0

The Commerce and Industry Ministry will be setting up three task forces including the new age and future technology task force

Google Tez Becomes Google Pay, UIDAI suspends services of banks for mis-performing and more

• Google has also partnered with four Indian banks in order to offer instant, pre-approved loans to customers
• It has added new features such as an increased number of places for payments to the Google Pay to ensure a seamless experience for users
• As a part of the rebranding, Google Pay will enable UPI-based payments on Play Store as well

Google is consolidating payments across Asia and wants to use a global name — Google Pay— to avoid confusion

Once a user selects UPI as a payment mode, he/she will be prompted by the UPI app for a payment request, which will then need to be authorised

Google Tez claims to have processed over 250 Mn transactions since September 2017