Payments

  • What Apple Pay is attempting now, the Japanese did that 10 years ago Yesterday

    Tokyo: Apple's proud announcement that its new iPhone could be used to buy goods in a single swipe left customers non-plussed 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? 2 days ago

    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 e-commerce 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 no-contact 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 small-ticket 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 ex-gratia 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 ex-gratia 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 third-party 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 e-payment system project in panchayats February 6, 2014

    The Jharkhand government is working to simplify the e-payment system project in panchayats of the state. "Jharkhand chief secretary R.S. Sharma Wednesday directed for simplifying the system of e-payment in the Panchayati Raj Department. He was speaking at a meeting with information technology officers with regard to implementing the e-payment 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 'inter-agency 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 ""inter-agency 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. ...
  • Devyani Khobragade - A doctor turned diplomat December 17, 2013

    New Delhi: Devyani Khobragade, who is caught in the line of fire, is the daughter of a retired IAS officer of Maharashtra cadre Uttam Khobragade. Born and brought up in Mumbai, she went to Mount Carmel school. Later she did MBBS from Seth GS medical college and KEM hospital in...
  • Indian Consular's father claims allegations against her 'uncalled for' December 14, 2013

    New Delhi: Father of Indian Consular Devyani Khobragade has denied allegations of visa fraud and ill-treatment of domestic help, calling it simply bullying and harassment. In a major diplomatic embarrassment to India, 39-year-old Devyani, a 1999-batch IFS officer, was taken into custody on Thursday as she was dropping her daughter to...
  • Indian diplomat Devyani Khobragade does not enjoy immunity: US December 14, 2013

    New Delhi: The US State Department has made it clear that Indian Deputy Counsel General Devyani Khobragade does not enjoy immunity from US laws. A state department spokesperson has said that the Vienna convention allows for immunity only with respect to acts performed in the exercise of consular functions. The...
  • Google brings Wallet to the iPhone, challenges Apple's Passbook September 20, 2013

    San Francisco: Google is bringing its digital wallet to the iPhone in its latest attempt to upstage Apple on its own popular device. Thursday's release of the Google Wallet app represents a challenge to the Passbook program that Apple has built into the iPhone's operating system. Both Google Wallet and Passbook allow...
  • Facebook to test mobile payments service August 16, 2013

    New York: Facebook plans to test a mobile payments service that lets users make purchases inside mobile applications using payment information they have added to their account on the social network. Facebook Inc. said Thursday that it is working on a "very small test" and the company says there is no...
  • Juventus top UEFA Champions League payments table July 23, 2013

    Nyon: Juventus got the biggest UEFA payment from the 2012-13 Champions League, collecting more than 65.3 million euros ($86.3 million) despite losing in the quarter-finals to eventual winner Bayern Munich. UEFA published figures on Tuesday showing that Bayern got 55 million euros ($77.7 million) in prize money and bonuses, edging beaten...
  • Finnish firm launches payment system with face recognition July 21, 2013

    Helsinki: Finnish company Uniqul has developed the world's first payment system which recognises customers' faces and helps them pay without having a wallet, credit card or mobile phone. The company is getting ready for deployment of the system in Helsinki, news website goodnewsfinland.com reported. The company said its patent pending technology allows...
  • Three senior Kingfisher Airlines executives quit June 2, 2013

    Mumbai: Three more senior executives of Kingfisher Airlines, including its chief information officer, have quit the grounded carrier even as a section of its pilots are set to revive their agitation over non-payment of salaries. "The airlines' chief information officer Saurav Sinha, flight operations head Capt Ronald Nagar and cabin...