50p reading list #26 – 19 April
Here’s what’s new this week.
Paytm and PayPal now fight it out in the remittances space
Paytm is now looking to set its foot in the foreign exchange and cross-border remittance space under Paytm Payments Bank. According to a report, Paytm has already received the license along with Airtel, Fino and Jio Payments bank.
RBI orders leave Indian crypto enthusiasts worried
The orders issued by the RBI on April 5th, barring banks and financial institutions from dealing in digital currencies is causing crypto enthusiasts in India to worry. Crypto-companies now might look to move to countries which have more friendly regulations regarding trading cryptocurrencies.
Facebook Messenger might start supporting payments in India; Starts with recharge
Facebook may be quietly exploring adding payments to its platform. This would be independent of WhatsApp payments and will allow peer-to-peer and peer-to-merchant payments
Data storage norm splits digital payments industry
The RBI has mandated all payment companies – global and local to setup data storage facilities in India within six months. The move is to ensure RBI has “unfettered supervisory access” to transaction data.
Indian Post to Payments Banks seeks RBI nod to being operations
The Government is seeking approval from the RBI to commence operations for the India Post Payments Bank. The Payments Bank is currently running pilot services in Raipur and Ranchi.
WhatsApp Beta gets updated to support request payments
The latest Beta version of the WhatsApp app now supports payment requests. This allows the app user to request money from other users in the chat itself.
