Key Points
Card payments company Visa has paused its single-click checkout service for online transactions in India, amid the Reserve Bank of India (RBI) tightening the security net around the digital payments industry...
It is difficult to pinpoint how many would be there with Blinkit now because the company has been signing on new delivery workers as well in the last one week, a source said.. Quick recap: Blinkits delivery executives went on strike against its new pay structure, which moved from a flat charge of Rs 25 per delivery (plus Rs 7 per delivery during peak hours) to a minimum of Rs 15 per delivery with a distance-based component..
As uncertainty in the market cuts down discretionary spending, Indias third largest software services firm HCLTech will, in the short term, chase deals driven by cost optimisation and vendor consolidation, chief executive and managing director C Vijayakumar told us in an interview...
Business pivot: To counter the slowdown, SaaS companies, which cornered large rounds at high valuations from investors during the funding peaks of 2021 and 2022, are actively looking at pivoting, in terms of product and demographic of customers, looking to sell to global markets such as the US and Southeast Asia.. . CFO nod must: Decisions regarding software spends now have moved to finance teams, with chief financial officers (CFOs) giving the final sign-offs, instead of concerned business heads...
Many of them are ponzi, the apps on which we are working with the Ministry concerned, the Ministry of Electronics & Information Technology (MeitY) and with the Reserve Bank and clamping down on them like never before, Sitharaman said.. FMs word of caution on finfluencers: Clarifying that the government does not have proposals before it to regulate financial influencers as of now, FM Sitharaman advised investors to be prudent with their hard-earned money..
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Card-based business payments violated Payment and Settlement Systems Act, 2007: RBI
16, Feb, 24On February 14, ET wrote that fintech startups like EnKash, Paymate and others have been instructed by card network Visa to stop offering business payment services through their commercial cards. The central bank mentioned that only one card network offers this service currently, without naming them.
Stop card-based commercial payments: Central bank to Visa
19, Feb, 24The Reserve Bank on Thursday asked card network Visa to stop making payments through intermediaries to entities which do not accept card payments, saying...
RBI asks Visa, Mastercard to stop business payments via commercial cards: Report
14, Feb, 24Industry sources said that the central bank is concerned about the flow of money through the card route toward non-KYC-ed merchants.