Paytm’s regulatory troubles appear to have pushed Indian consumers to Walmart and Google-owned payments operations. Data released Wednesday (March 5) by the National Payments Council of India (NPCI) showed that the value of Paytm payments made using the country’s Unified Payments Interface (UPI) system fell 14% between January and February. Meanwhile, PhonePe, owned by Walmart and Google’s GPay, saw a respective 7% and 6% …
Indian digital payments provider Paytm has announced that it will be cutting back on its business ties with its banking affiliate, Paytm Payments Bank. The company said in a Friday (March 1) filing with the National Stock Exchange of India that its board of directors has “approved the discontinuation of various inter-company agreements with its …
Embattled Indian FinTech Paytm is reportedly turning to a group of banks for help. The company is likely to work with Aix Bank, HDFC, Yes Bank and the State Bank of India to process transactions though India’s popular unified payments interface (UPI), Reuters reported Monday (Feb. 26), citing two sources familiar with the matter. The news comes as …
Making instant payments in the European Union (EU) just became much easier. The European Council on Monday (Feb. 26) adopted a regulation making instant payments available in euros to consumers and businesses in the EU and European Economic Area nations. “The new rules will improve the strategic autonomy of the European economic and financial sector as they will help …
There’s a global race going on with artificial intelligence at its center. It isn’t just a race between multibillion-dollar, or trillion-dollar, private enterprises looking to commercialize and scale their AI systems and product innovations. Rather, this race at least, is increasingly between governments and their regulators, as nations around the world seek to become the …
On Sunday’s episode of The Excerpt podcast: The unleashing of powerful Artificial Intelligence into the world, with little to any regulation or guardrails, has put many people on edge. It holds tremendous promise in all sorts of fields from healthcare to law enforcement, but it also poses many risks. How worried should we be? To …