PAYMENTS

  • Apple Pay, Google Wallet, PayPal: Pros and cons of mobile payment systems November 12, 2014

    New York: Wireless? Bar codes? What's the best way to pay with your phone? Apple Pay, Google Wallet and a few other services use a wireless technology called near-field communication, or NFC. With Apple Pay, the phone unlocks automatically when you hold it near the NFC reader on the merchant's payment...
  • Oxigen: Creating a national payment ecosystem November 8, 2014

    Oxigen offers recharge services for the masses. The Oxigen wallet helps money transfer, recharges and bill payments. It at the same time creates a national payment ecosystem. Oxigen has been pioneering mobile payments for the last ten years. ...
  • Apple Pay fails to unify fragmented market November 2, 2014

    Washington: Apple Pay, meant to inject momentum into a fragmented market for the emerging mobile payments sector, has instead highlighted the squabbles between retailers and the banking and payments industry. Since Apple Pay made its debut October 20 for US customers with the iPhone 6, several major retailers have said they...
  • Alibaba's Jack Ma says open to working with Apple on mobile payments October 28, 2014

    Laguna Beach: Alibaba Group Holdings Ltd executive chairman Jack Ma said he's open to working with Apple on mobile payments, as China's richest person prepares to call on Hollywood this week in search of media partners. Alibaba affiliate Alipay is China's largest payments service, while Apple just this month debuted its...
  • Where all you can use Apple Pay October 22, 2014

    More than 2,00,000 payment locations in the US are equipped to accept so-called contactless payments, including Apple Pay. Smaller merchants tend to be among the several millions that don't have the required equipment yet. Apple said it has worked with several retailers to make sure most of their stores, if not...
  • Pay by phone or just keep using plastic? Here's everything you need to know October 2, 2014

    New York: PayPal, Apple and others are betting on billions in mobile payments. But so far, trying to use my phone to pay at restaurants and retailers has been frustrating. It's easier just to pull out my plastic credit card than to figure out which card works with which app and...
  • MasterCard aims to replace cash with e-payments September 25, 2014

    Singapore: Financial service provider MasterCard is focused on finding new ways to replace cash with electronic ways of paying using innovation, the company's CEO has said. "MasterCard is focused on finding ways for people to interact in simple, smart ways with the ecosystem to be able to replace cash with electronic...
  • Dos and don'ts: 5 ways to protect yourself from data breaches September 20, 2014

    New York: Data breaches at retailers aren't going away but there are ways consumers can protect themselves from future heists of their payment card information. Home Depot said Thursday that malicious software lurking in its checkout terminals between April and September affected 56 million debit and credit cards that customers swiped...
  • What Apple Pay is attempting now, the Japanese did that 10 years ago September 15, 2014

    Tokyo: Apple's proud announcement that its new iPhone could be used to buy goods in a single swipe left customers nonplussed in Japan, where mobile contactless payments have been normal fare for a decade. A type of Near Field Communication (NFC) chip, known in Japan as FeliCa, was introduced to the...
  • Will Apple Pay kill the card swipe? September 14, 2014

    New York: Apple wants the plastic credit card to become as rare as the paper cheque. On Tuesday, the company announced Apple Pay, a digital payment system that lets people pay for retail store purchases using their phones rather than cash or credit cards. The service, which will work both with...
  • Flipkart to shut down its payment gateway PayZippy August 31, 2014

    New Delhi: Indian online retailer Flipkart, reportedly, is closing down its payment gateway PayZippy, as it failed to perform the way the ecommerce giant had expected. The company had launched the product last year in July, under a separate firm Flipkart Payment Gateway Services (FPGS) Pvt Ltd, and started with...
  • London Underground train network set for contactless bank card payments July 28, 2014

    London: Travellers on the London Underground train network will be able to use nocontact bank cards at the gates to pay for their journeys from September, the transport group said on Friday. The contactless payment scheme will be launched on the Tube on September 16 following a successful trial of 3,000...
  • RBI issues draft guidelines for setting up small, payment banks July 17, 2014

    New Delhi: A week after Budget announcement, the Reserve Bank on Thursday issued draft guidelines for setting up of 'local feel' small banks, which will disburse smallticket loans to farmers and businesses. The central bank also issued draft guidelines for setting up of payment banks, which will cater to marginalised sections...
  • Visa launches new Visa Checkout service to make online payments simpler July 17, 2014

    New York: Payment processor Visa is launching a new service called Visa Checkout that eliminates a few steps in online payment. The company and its retailing partners, including Neiman Marcus, Pizza Hut, Staples and others, hope a quicker payout will lead to fewer abandoned shopping carts online. As more customers shop...
  • Gold swaps to cut imports, ease payment pressure July 4, 2014

    Mumbai: A plan by the Reserve Bank of India (RBI) to swap old gold in its vaults for purer metal abroad that it could pledge or sell would have the added benefits of reducing gold imports and easing pressure on the balance of payments. The RBI would sell relatively impure gold...
  • AP CM announces exgratia payments to heat wave victims June 15, 2014

    Hyderabad: With the heat wave claiming as many as 169 lives in Andhra Pardesh, Chief Minister N Chandrababu Naidu has decided to grant Rs 1 lakh exgratia to family members of victims, it was officially announced on Sunday. AP Deputy Chief Minister K E Krishnamurthy, who held a review meeting...
  • Amazon adds subscriptions to its payment service June 10, 2014

    New York: Amazon announced plans to extend its recently launched payments service for subscriptions at thirdparty services, stepping up its challenge to eBay's PayPal. An Amazon spokeswoman said the new feature allows people to use their Amazon accounts for automatic payments of fixed or variable amounts. "Automatic payments helps businesses that rely...
  • Change India: Ideas on setting up new 'Payments Banks' May 31, 2014

    In this episode of the 'Change India: Experiments with Big Ideas' series, we discuss the idea of setting up new 'Payments Banks' which is a joint venture of Aadhaar and India Post. ...
  • India's get its own payment gateway 'RuPay' May 8, 2014

    New Delhi: India on Thursday launched its own payment gateway 'RuPay', equivalent of Visa and Mastercard, which will work on ATMs and mechant outlets and help in reducing cash transactions. President Pranab Mukherjee unveiled the indigenous card at a function in Rashtrapati Bhavan. Dedicating it to the nation, Mukherjee said India...
  • Facebook plans to provide mobile payment services: Report April 15, 2014

    Bangalore: Facebook Inc is preparing to join the mobile-payments race with remittances and electronic-money services on the social network, the Financial Times reported on Sunday, citing several people involved in the process. The company is close to obtaining approval from the Central Bank of Ireland to start a service that would...
  • Sri Lanka cricketers refuse to sign new contracts March 6, 2014

    Colombo: Sri Lankan players have refused to sign the new payment contracts as their demands of a share from the income derived through ICC events haven't been met by the cricket board (SLC). "The national players have refused to sign the contracts forwarded to them in Bangladesh," reported Daily Mirror quoting...
  • No decision on setting up of 'Payments Banks' yet: Raghuram Rajan February 12, 2014

    A decision on setting up 'Payments Banks' or specialised banks to provide services to small businesses will be taken only after looking into various aspects including arbitrage issues, RBI Governor Raghuram Rajan said on Wednesday. "At this point there is no decision to move forward. We will look at it in...
  • State to simplify epayment system project in panchayats February 6, 2014

    The Jharkhand government is working to simplify the epayment system project in panchayats of the state. "Jharkhand chief secretary R.S. Sharma Wednesday directed for simplifying the system of epayment in the Panchayati Raj Department. He was speaking at a meeting with information technology officers with regard to implementing the epayment system...
  • Devyani Khobragade's claim of immunity challenged by US prosecutors February 1, 2014

    New York: Devyani Khobragade, the Indian diplomat whose December arrest led to a major international dispute, holds no immunity from US prosecution and should continue to faces charges of visa fraud, Manhattan federal prosecutors said in court papers filed Friday. Khobragade was arrested on December 12 on charges that she lied...
  • SC directs Sahara to provide details of source of payment to investors January 9, 2014

    New Delhi: More trouble brewing is for the Sahara group as Supreme Court has directed the business group to reveal the source of Rs 20,000 crore which the company returned to its investors. The apex court rapped the Sahara group asking it to provide the details of all the funds it...
  • Devyani case: US launches 'interagency review' December 30, 2013

    Washington: India's tough stand against the arrest of its diplomat Devyani Khobragade has forced the United States of America to initiate an ""interagency review" to look into lapses. The department being reviewed include National Security Council of the White House, the State Department and the Justice Department. In a tacit...
  • Devyani case: US had sought Indian inquiry into maid's allegations December 20, 2013

    Washington: Admitting to differences in interpretation of law, the US on Friday said India had not acceded to demands for providing details of the inquiry into allegations made by diplomat Devyani Khobragade's domestic maid or make her available for discussing charges. It also said that the two governments have been...
  • Devyani case: BJP demands apology from US, Khurshid says talks on December 20, 2013

    New Delhi: The Bharatiya Janata Party (BJP) reiterated its demand for an apology from the United States of America and said entire case is cooked up. "The foreign policy of US is being determined by its state department, the over zealous Preet Bharara who have own agenda and ambition. The...
  • Devyani case: US must apologise, action unacceptable, says Kamal Nath December 20, 2013

    New Delhi: Maintaining a tough stand against the United States of America over the arrest of Indian diplomat Devyani Khobragade, Parliamentary Affairs Minister Kamal Nath said that they must apologise as the action taken against her is totally unacceptable. "India will not accept anything less than an apology. America should drop...
  • India acts tough against US, withdraws diplomatic privileges December 17, 2013

    The Indian government has hit out at the US diplomats based in India announcing a slew of measures against them until the US apologises or rethinks its decision to arrest and humiliate Indian diplomat Deeyani Khobragade. ...