The app itself is being rebranded to Google Pay — bringing it in line with Google’s global payment service, which is available in 20 countries — but there are more tangible updates on their way.Most notably, Google is plotting to turn Tez Google Pay into an all-encompassing payment app for India.The service started out in bank-based payments before adding bill and utility payments and messaging, but now Google is planning an extended push into retail, both online and offline.The service already supports payments with some 2,000 apps and websites, including Goibibo and RedBus, but it is adding to that number and planning ‘deep’ integration with partners such as Uber and ticketing service BookMyshow.Google is also focusing on offline, and it said it is in the process of adding in-store payment support with a range of retail brands that will include Big Bazaar, e-Zone, and FBB.Tez competes with dedicated payment services like Paytm and Mobikwik, and also WhatsApp — the Facebook-owned service that is India’s top messaging app but has struggled to win approval to launch an upcoming payment service due to concerns around its lack of a local office.
The recent biggest ATM security data breach in India is an alarming situation where banks need to focus on safeguarding their systems to avoid similar breach in future.What is the Current Scenario?3.2 million debit cards in India were “compromised” due to a major security breach, termed as India’s biggest ATM security breach.The banks denied responsibility for the huge mishap in the Indian banking sector.Banks floated out SMSes to their customers to change their ATM PINs (Personal Identification Number) and even blocked ATM cards, to avoid further damage.This episode came to light when banking customers raised complaints about unauthorized usage of their money from locations of China and US.About 2.6 million cards on Visa and Mastercard platform while 6 lakhs on RuPay, asper the reports.Of all the banks that suffered a hit, SBI, HDFC Bank, ICICI Bank, YES Bank and Axis Bank had the worst.How ATM security breach Happened?Hitachi provides ATM, POS (point of sale) and other services to white collar banks.
WhatsApp might launch their peer-to-peer payment feature as early as next week.A report from BloombergQuint suggests that the UPI-based in-app payment services will be taken off from its current beta phase and will be rolled out for all the users.The report states that WhatsApp is partnering with HDFC Bank, ICICI Bank and Axis Bank to process payments, and SBI will join the list later once the service is in place.As of now, the service is available for the Beta testers on Android.As per the reports, the messaging giant was preparing to launch the service officially once they have at least four banking partners, but has now decided to speed up the process as it believes “their rivals were racing ahead”.Leveraging its large user base, WhatsApp can pose as a serious competitor to the popular digital wallets and payment apps like Paytm, Google Tez, PhonePe and so on.
Flipkart has announced the Big Shopping Days sale with offers across a range of categories like smartphones, audio devices, laptops, smartwatches, fitness bands and more.The Flipkart Big Shopping Days sale is slated to be held from 13 May to 16 May and will include discounts, exchange offers and offers on EMIs too.Flipkart Big Shopping Days sale detailsGiving a sneak peek into the offers during its Big Shopping Days sale, Flipkart revealed that the Google Pixel 2 can be purchased for as low as Rs 34,999.The device was available for Rs 61,000 when launched in India, the Pixel 2 is currently available for purchase at effectively Rs 44,999 – after a discount of Rs 8,001 and a cashback of Rs 8,000 for HDFC Bank credit/debit card users.Apart from the Pixel 2 offer, buyers can also look forward to deals on the Pixel 2 XL, Samsung Galaxy On Nxt and more.
The season of love is almost here and to celebrate it, Apple has announced a slew of offers on its iPhones and iPads.Under the Apple Valentine’s Day offer, buyers can get a cashback of up to Rs 10,000 on a range of iPhones and iPads.With this offer, you can buy an iPad or the iPhone SE for as low as Rs 15,000.Apple Valentine’s Day offer explainedAs a part of Apple Valentine’s Day offer, customers using HDFC Bank EasyEMI option will get a cashback of Rs 7,000 on the iPhone 6 and the iPhone SE.Additionally, the company is offering a cashback of Rs 10,000 on the iPad, iPad Mini 4 and iPad Pro.
WhatsApp has begun testing a new payments feature in India that will allow people to send money to other WhatsApp users, excluding merchant accounts.The feature is currently in beta, according to sources familiar with the company’s plans, but hasn’t been publicly announced because it’s not widely available at this time.The company has been working on support for a payments feature for some time, which would take advantage of UPI (Unified Payments Interface) and include support by a number of Indian banks, including State Bank of India, ICICI Bank, HDFC Bank, and Axis Bank.Beta testers have now found that this functionality is live, with a large list of supported banks displayed in the WhatsApp user interface.According to screenshots posted to Twitter and elsewhere, including this post from the blog iPhoneHacks, those who have gained access to the new functionality will see a payments feature appear in their WhatsApp Settings menu.Users must then configure the feature by first verifying their phone number via SMS and choosing a bank.
Today, Oppo in collaboration with Flipkart launched the 6GB RAM variant of Oppo F3 Plus in India.Starting from Thursday, 16th of November, Oppo F3 Plus will go on sale in the country with a price tag of Rs.The lower version (4GB RAM) of this smartphone debuted in March this year with a Rs.There have been a substantial cut in the price of this higher version and many customers will probably take advantage of it.In addition, Flipkart who is exclusively selling this smartphone for now is offering some additional bonus.A 5% discount awaits those who uses HDFC Bank debit and credit card to purchase this smartphone.
Google has jumped into the crowded and fiercely competitive digital payments space in India, and launched a new digital payments app – Tez.Tez, which means ‘fast’ in Hindi, is a UPI-based app that can be used for online transactions, as well as paying offline at stores.UPI (Unified Payments Interface) was launched by National Payments Corporation of India, an umbrella organization for all retail payment systems in India.While NPCI is a private entity, it is regulated by the country’s central bank – Reserve Bank of India.According to the company, all transactions on Tez are secured by ‘Tez Shield’ that detects fraud, prevents hacking, and verifies identity.The company has partnered with HDFC Bank, ICICI Bank, Axis Bank, and State Bank of India for the backend.
After several weeks of speculation and leaked details, today Google officially unveiled its first big foray into mobile payments in Asia.The Android and search giant has launched Tez, a new mobile wallet in India that will let users link up their phones to their bank accounts to pay for goods securely in physical stores and online, and for person-to-person money transfers.“Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala.Make all payments big or small, directly from your bank account with Tez, Google’s new digital payment app for India,” Google notes in its information portal.The app is launching today on iOS and Android in the country and will see Google linking up with several major banks in the country by way of UPI (Unified Payments Interface) — a payment standard and system backed by the government in its push to bring more integrated banking services into a very fragmented market.Supported banks include Axis, HDFC Bank, ICICI and State Bank of India and others that support UPI.
HDFC is named as the most valuable Indian brand as an increase in demand for local products continues to benefit the local brands, according to Brandz top 50 most valuable Indian brands.Followed by HDFC is Airtel, State Bank of India, Asian Paints, ICICI bank, Kotak Mahindra bank, Maruti Suzuki, Bajaj Auto, Hero and Axis Bank.HDFC current value stands at $17,965m value after a 24% increase year-on-year in the annual report by WPP and Kantar Millward Brown.It falls in line a report from The Drum last year about how Indian FMCG brand Patanjali is beating global giants by empowering local confidence.It doesn't spell doom and gloom for global business, however, particularly those that are keeping abreast of local trends.Colgate, ranked 28, saw an increase of 2% and launched a toothpaste with ayurvedic properties to meet the local demand.
In a bid to capture Indian digital payments market and combat homegrown rival Ola, Uber announced Unified Payments Interface (UPI) integration to unlock the potential of fintech innovations.Uber has partnered with National Payments Corporation of India (NPCI) , Axis Bank and HDFC Bank.Digital Payments, AI and VR are to power the Indian economy in future and this is a strategic move by Uber to benefit by pushing government's Digital India initiative.It is also tied to its own initiative UberSHAAN - an effort is to rapidly scale India’s entrepreneurial base and generate 1 million livelihood opportunities on the Uber platform by 2018.The Indian government estimates the digital economy to surpass $1.115tn by 2024-25, according to India's digital minister Ravi Shankar Prasad.At the launch, he said: "India’s digital economy will become a $1tn economy in the next five years.
The march of chatbots and personal assistants into conversational commerce (defined as the intersection of messaging apps and shopping) is now a thing, and it looks like it is here to stay.“AI is changing the way we interact with technologies across multiple industries.In a fast-growing market such as India, AI helps making technology-based companies more efficient,” says Sachin Jaiswal, cofounder of Niki.ai.This AI startup has recently launched the chatbot SDK to help brands deliver the “conversational” experience consumers are demanding on mobile and web apps.HDFC Bank, Oxigen Wallet, Intex Smartphones and booking service Ticketgoose are some of the early adopters of its chatbot service.Two years ago, Niki.ai started out by developing chatbot programmed to respond to the chat requests of users for services such as cab ordering, food delivery and phone credit top-ups, and has now served over 50 million interactions.
A suspected security breach has led banks in India to warn 3.25 million customers to replace their debit cards or change the PINs.National Payments Corporation of India NCPI , the umbrella organization for the nation's retail IT systems, said customers at 19 banks were affected.We're told 641 people have been defrauded – approximately $200,000 has been taken, largely from cloned cards used in Chinese and US ATMs."Necessary corrective actions already have been taken and hence there is no reason for bank customers to panic," said NPCI CEO Mr Abhaya Hota."Advisory issued by NPCI to banks for re-cardification is more as a preventive exercise."The recall of RuPay, Visa and MasterCard debit cards has hit a slew of banks: State Bank of India, HDFC Bank, ICICI Bank, Yes Bank and Axis Bank.
An Indian bank is planning to get a robot to greet its walk-in customers.Call it giving your service, um, a robotic touch.The robot, which is being piloted by India's second largest private bank by assets, HDFC Bank, will assist customers with common tasks like withdrawing or transferring money or just finding the relevant department to get their task done.The robot is reportedly a part of the bank's "Project AI" program.The unnamed humanoid will come equipped with a touchscreen display which customers could use to input their query.The bank will soon beta test the robot at one of its Mumbai branches.