50p weekly reading list #14–10 Jan 2018

Here’s what’s new this week.

Telegram is planning to launch its own cryptocurrency

According to reports from the TechCrunch, Telegram is planning to launch its own cryptocurrency and blockchain platform to power payments and more features on its chat app. The report comes after it was rumoured that Telegram would launch an ICO soon.

Google researcher finds vulnerability in a popular wallet

A researcher at Google, Tavis Ormandy reported a critical bug in the Electrum wallet, which would allow any website to steal the cryptocurrencies held in that wallet. Electrum immediately patched the bug and issued an update fixing the glitch.

NPCI plans to launch UPI 2.0, introducing mandates and Aadhaar based payments

The National Payments Corporation of India is exploring the launch of an upgraded version of the UPI platform in UPI 2.0. The upgrade will bring in the ability to make payments through Aadhaar based biometrics and also allows mandates/recurring payment authorisation. The upgrade will make it easier for services which use a subscription or a recurring billing scheme to collect from users directly from their bank accounts without requiring paperwork.

Banks are warning exchanges to stop accepting transfers through NEFT, IMPS and RTGS

Banks in India are now tightening the grip on cryptocurrency exchanges in India after pressure from the RBI. The RBI has issued a few warnings and notifications about cryptocurrencies not being legal tender in India. A similar warning has also been issued to holders of Citibank credit cards.

PhonePe partners with Freecharge to expand acceptance in offline and online locations

PhonePe is looking to expand its reach by partnering with Freecharge. The partnership will allow Freecharge wallet holders to pay at locations where PhonePe is accepted as well as allow them to link their wallets on PhonePe.

Cooperative banks prefer Rupay to Mastercard or Visa

According to a survey conducted in Gujarat during a digital payments workshop, cooperative banks are increasingly preferring Rupay to Mastercard and Visa. The indigenous solution seems to have a better reach among smaller banks and merchants compared to the big players like MasterCard and Visa.

Ola and ICICI Bank partner to offer more services to cab riders

Soon, ICICI Bank customers will be able to pay with Pockets or iMobile for their cab rides. Ola is also introducing instant credit facility for cab riders based on ICICI’s real time credit assessment. Ola drivers will also be given a card from ICICI, where they can get their settlements every day. The card can also be used for transactions at retail locations.


50p by HasGeek focuses on conversations surrounding technology, policy and regulations in the Indian digital payments ecosystem. The third edition of conference is scheduled on Feb 8,9 in Bangalore. Head over to https://50p.in/2018/ to get your tickets now!

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