SBI Research deems the withdrawal of Rs 2,000 notes a non-event, as India's digital payments ecosystem is robust.

SBI Research stated in its most recent Ecowrap that the withdrawal of Rs 2,000 banknotes is likely to be a non-event because India has adopted digital payments on a massive scale.

India has been experiencing new milestones in digital payments, both in terms of value and volume, which de...

New laws for digital wallets like Google pay, Apple pay and WeChat Pay by the Australian government

Highlights

• These digital wallets have become hugely popular in the recent years
• Digital wallets have grown from 2% in 2016 to 8% in 2019

Tech giants like Apple and alphabet’s Google are facing new rules and regulations by the A...

JAPAN GOVT. TO ALLOW COMPANIES TO PAY SALARIES DIGITALLY

Highlights –

• Japan govt. to allow companies to pay salaries digitally.
• The labor ministry has proposed the plan during a meeting.
• The ministry will identify who among the digital salary payment service providers can transmit the funds...

AMAZON ACQUIRES PERPULE

HIGHLIGHTS

• Amazon has acquired Indian startup Perpule that is helps offline stores go online.
• Amazon is trying to increase its presence in India as majority sales in India still happen in physical stores.

Amazon has acquired Indian s...

PAYPAL TO HIRE 1000 ENGINEERS ACROSS INDIA

HIGHLIGHTS

• This year, PayPal is going to hire 1000 engineers for development centers in India.
• Outside USA, India has largest technology centers in India.

Digital payments giant PayPal is going to hire more than 1000 engineers this y...

AMBANI TO PARTNER WITH FACEBOOK AND GOOGLE

HIGHLIGHTS

• Mukesh Ambani is going to forge a partnership with Facebook and Google.
• Three partners seek to obtain a license to enter India’s digital payments business.

Reliance Industries Ltd., led by Asia’s richest man Mu...

UBS MAY INVEST $400 MILLION IN INDIA'S PAYTM

HIGHLIGHTS

• UBS Group might be planning to invest $400 million in Paytm.
• Paytm is owned by Ant Group of India.

According to some media reports, UBS Group may invest $400 million in Paytm, which is owned by India-based Ant Group. With ...

GOOGLE PLAY STORE REMOVES PAYTM AND PAYTM FIRST GAMES APPS

HIGHLIGHTS

• Google has removed the Paytm and Paytm First Games apps from Google Play store.
• Apps already installed in some phones of your users are not being supported by Android operating system.

In a surprise move, Google Play Store...

Bakong: The Easy Way to Bank in Cambodia!

Bakong is the new cryptocurrency launched by the National Bank of Cambodia [ NBC] that will be available to the users of 11 banks that NBC has listed to be partnered with for this national digital payments gateway. The digital currency is expected to hit the market by the end of this financial qu...

Businesses over 50 crore to have an electronic payment mode from November 1: CBDT

On Friday, the Central Board of Direct Taxes announced that businesses with a turnover of more than 50 crore will “mandatorily” have to make arrangements via electronic modes from November 1.

Based on the reports by the income tax department, no bank system shall “impo...