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How UPI Is Enabling A Cashless Economy
For a cashless economy to thrive, transactions must be affordable. Unlike credit card transactions that incur fees for merchants, UPI payments are either free or have minimal charges, making them much more accessible to small and medium-sized busines
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Alibaba Faces US Lawsuit Over Selling Fake "Squishmallows"
A US judge on Wednesday rejected Alibaba's bid to dismiss a lawsuit over the alleged sale by various merchants of counterfeit versions of the popular children's toy Squishmallows on its online platforms.
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Paytm's Big Revamp: Younger Users, 50,000-Plus Salesforce, Smaller Cities
Paytm plans to revamp its online wealth management services and hire more than 15,000 contract salespeople to get more merchants on its network, aiming to hit profitability sooner than targeted.
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E-Rupee Worth Over Rs. 130 Crore in Circulation, Says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman said on Monday that Digital or e-rupee worth over Rs 130 crore was in circulation on a pilot basis as of February 28. "As on February 28, 2023, the total digital rupee - Retail (e₹-R) and digital rupee - wholesale (e₹-W) in circulation is Rs 4.14 crore and Rs 126.27 crore, respectively," Sitharaman said in a ...
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Amazon Is Taking Half Of Each Sale From Its Merchants
Grappling with slowing sales growth and rising costs, Amazon.com Inc. is squeezing more money from the nearly 2 million small businesses that sell products on its sprawling online marketplace.
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Amazon 'Buy With Prime' to Roll Out to US Merchants on January 31 to Compete With Shopify Pay
Amazon has announced that it will roll out its 'Buy With Prime' button to allow merchants to sell products using its payment and delivery services outside it's shopping platform. The invite-only launch that was made available in April last year will be widely available to merchants in the US by January 31, according to the e-commerce firm.
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Paytm to Resubmit Application for Authorisation of Payment Aggregator Services
Paytm has shared an update with the exchanges about its 100 per cent subsidiary, Paytm Payments Services. The company can now resubmit the application within 120 calendar days for the payment aggregator services. Ahead of that, the company will seek necessary approval for past downward investment from Paytm into its subsidiary.
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Paytm Denies Links With Chinese Loan Merchants After ED Raids on Firms Including Razorpay, CashFree
Paytm on Sunday issued a statement claiming that none of the funds frozen by the Enforcement Directorate (ED) in the Chinese loan app case belongs to it or any of its group firms. The ED earlier conducted raids at premises of online payment gateways over the alleged irregularities in instant app-based loans "controlled" by Chinese persons.
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Pine Labs Sets Target of Up to $5 Billion in Monthly Payments Volume From Plural Service in Two Years
Pine Labs, the company that provides point-of-sale machines to offline merchants for card payments, said it is targeting up to $5 billion (roughly Rs. 39,600 crore) in monthly transactions within two years, for its online payments business, Plural. The firm also expects online payments to contribute 20 percent of revenue. Plural was launched last y...
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Shopify Partners With YouTube to Tap Into Growing Pool of Content Creators
Shopify has announced a new partnership with YouTube that allows merchants on the company’s platform to sell via the Alphabet-owned video service. Merchants will be able to integrate their online stores with YouTube, allowing them to reach YouTube’s 2 billion strong monthly active users.
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RBI Extends Deadline to Comply With Card Tokenisation Norms Till September 30
The Reserve Bank of India (RBI) has extended the card-on-file (CoF) tokenisation deadline by three months, changing it from June 30 to September 30. This date has been pushed due to requests received from industry bodies. Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions.
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Shopify Lets Users Set Up NFT-Gated Online Stores to Add a Sprinkle of Exclusivity
Shopify has unveiled a range of new features which includes the ability for online merchants to create “tokengated” stores designed to incentivize fans to hold brand tokens.
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Shopify Collaborates With Twitter to Help Merchants With Online Sale, Unveils 100 New Tools
Shopify has announced its collaboration with Twitter to shore up sales to counter a post-pandemic slowdown in online shopping. In addition, the company also unveiled over 100 news tools.
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Amazon's New Buy With Prime Service Extends Prime Subscription Benefits to Merchant Stores
Amazon is extending the benefits of its Prime subscription to online merchant stores beyond its own site with new service called Buy With Prime. It'll be initially available by invitation for merchants and only in the US.
-
Tencent to Reduce Transaction Fees on WeChat Payments for SMEs
Tencent will reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10 percent, the company said in a statement.
-
How UPI Is Enabling A Cashless Economy
For a cashless economy to thrive, transactions must be affordable. Unlike credit card transactions that incur fees for merchants, UPI payments are either free or have minimal charges, making them much more accessible to small and medium-sized busines
-
Alibaba Faces US Lawsuit Over Selling Fake "Squishmallows"
A US judge on Wednesday rejected Alibaba's bid to dismiss a lawsuit over the alleged sale by various merchants of counterfeit versions of the popular children's toy Squishmallows on its online platforms.
-
Paytm's Big Revamp: Younger Users, 50,000-Plus Salesforce, Smaller Cities
Paytm plans to revamp its online wealth management services and hire more than 15,000 contract salespeople to get more merchants on its network, aiming to hit profitability sooner than targeted.
-
E-Rupee Worth Over Rs. 130 Crore in Circulation, Says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman said on Monday that Digital or e-rupee worth over Rs 130 crore was in circulation on a pilot basis as of February 28. "As on February 28, 2023, the total digital rupee - Retail (e₹-R) and digital rupee - wholesale (e₹-W) in circulation is Rs 4.14 crore and Rs 126.27 crore, respectively," Sitharaman said in a ...
-
Amazon Is Taking Half Of Each Sale From Its Merchants
Grappling with slowing sales growth and rising costs, Amazon.com Inc. is squeezing more money from the nearly 2 million small businesses that sell products on its sprawling online marketplace.
-
Amazon 'Buy With Prime' to Roll Out to US Merchants on January 31 to Compete With Shopify Pay
Amazon has announced that it will roll out its 'Buy With Prime' button to allow merchants to sell products using its payment and delivery services outside it's shopping platform. The invite-only launch that was made available in April last year will be widely available to merchants in the US by January 31, according to the e-commerce firm.
-
Paytm to Resubmit Application for Authorisation of Payment Aggregator Services
Paytm has shared an update with the exchanges about its 100 per cent subsidiary, Paytm Payments Services. The company can now resubmit the application within 120 calendar days for the payment aggregator services. Ahead of that, the company will seek necessary approval for past downward investment from Paytm into its subsidiary.
-
Paytm Denies Links With Chinese Loan Merchants After ED Raids on Firms Including Razorpay, CashFree
Paytm on Sunday issued a statement claiming that none of the funds frozen by the Enforcement Directorate (ED) in the Chinese loan app case belongs to it or any of its group firms. The ED earlier conducted raids at premises of online payment gateways over the alleged irregularities in instant app-based loans "controlled" by Chinese persons.
-
Pine Labs Sets Target of Up to $5 Billion in Monthly Payments Volume From Plural Service in Two Years
Pine Labs, the company that provides point-of-sale machines to offline merchants for card payments, said it is targeting up to $5 billion (roughly Rs. 39,600 crore) in monthly transactions within two years, for its online payments business, Plural. The firm also expects online payments to contribute 20 percent of revenue. Plural was launched last y...
-
Shopify Partners With YouTube to Tap Into Growing Pool of Content Creators
Shopify has announced a new partnership with YouTube that allows merchants on the company’s platform to sell via the Alphabet-owned video service. Merchants will be able to integrate their online stores with YouTube, allowing them to reach YouTube’s 2 billion strong monthly active users.
-
RBI Extends Deadline to Comply With Card Tokenisation Norms Till September 30
The Reserve Bank of India (RBI) has extended the card-on-file (CoF) tokenisation deadline by three months, changing it from June 30 to September 30. This date has been pushed due to requests received from industry bodies. Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions.
-
Shopify Lets Users Set Up NFT-Gated Online Stores to Add a Sprinkle of Exclusivity
Shopify has unveiled a range of new features which includes the ability for online merchants to create “tokengated” stores designed to incentivize fans to hold brand tokens.
-
Shopify Collaborates With Twitter to Help Merchants With Online Sale, Unveils 100 New Tools
Shopify has announced its collaboration with Twitter to shore up sales to counter a post-pandemic slowdown in online shopping. In addition, the company also unveiled over 100 news tools.
-
Amazon's New Buy With Prime Service Extends Prime Subscription Benefits to Merchant Stores
Amazon is extending the benefits of its Prime subscription to online merchant stores beyond its own site with new service called Buy With Prime. It'll be initially available by invitation for merchants and only in the US.
-
Tencent to Reduce Transaction Fees on WeChat Payments for SMEs
Tencent will reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10 percent, the company said in a statement.
