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    The Times of India

    News about The Times of India.

    India’s Mobikwik aims to triple user base in 2017

    February 23rd, 2017

    Indian mobile wallet MobiKwik is to invest Rs 3bn (US$45m) to triple its user base and raise the total volume of transactions on its platform to $10bn in 2017, The Times of India reports. “MobiKwik said the investment will help it triple its user base to 150m and drive up annual gross merchandise value by year end from the current $2bn,” the report says.

    India to equip half a million ration shops for Aadhaar payments

    February 13th, 2017

    All 558,000 ration shops across India will be enabled to accept Aadhaar-based payments by June 30 this year, The Times of India reports, with all those in Gujarat, Andhra Pradesh and Rajasthan states already Aadhar-enabled. The government wants to bring all citizens under the biometrics-based ID system within the same timeframe, adding it will “not force it on people”, the report adds.

    India Budget: New measures to promote mobile payments

    February 1st, 2017

    The Indian government has unveiled new measures to promote a digital economy during its 2017 Budget speech, including “the imminent launch of Aadhaar Pay, a merchant version of the Aadhaar-enabled payment system”, The Times of India reports. Two new schemes will be launched to promote the use of the BHIM mobile payments app, while “the government decided to remove all duties on point-of-sale devices, fingerprint readers and similar devices” to promote cashless transactions.

    Indian bank unveils AI-powered robot helper

    November 14th, 2016

    India’s first artificial intelligence banking robot has made its debut in a branch of City Union Bank in Chennai, The Times of India reports. Lakshmi is said to be able to voice intelligent and informal answers on more than 125 banking subjects. Sensitive financial information like account details are displayed on the robot’s screen and not voiced. The bank has plans for 25 to 30 robots at key branches by the end of the year if Lakshmi proves a hit with customers.

    India’s Paytm moves into banking

    November 12th, 2015

    Indian mobile wallet provider Paytm is to hire 3,000 people to roll out its payments bank services by the first quarter of next year. “The structure of the executive committee for the payments bank is being given shape, while Paytm awaits a final nod from the Reserve Bank of India,” The Times of India reports. The company agreed a “strategic investment” from Alibaba and its affiliate Ant Financial in September.

    Reserve Bank of India asked to increase mobile wallet limit

    July 17th, 2015

    One97 Communications, owner of mobile payment platform Paytm, has asked Reserve Bank of India (RBI) to increase the limit on money that can be kept in a mobile wallet to Rs 25,000 (US$393) from Rs 10,000 (US$157). “One97 Communications, which has investment from the Alibaba group, is also building a mobile marketplace and aims to have half a billion Indians on the Paytm platform before 2020,” Times of India reports.

    Madhya Pradesh to offer NFC info

    April 29th, 2013

    Madhya Pradesh Tourism Development Corporation is to use NFC and QR codes to provide tourists with information at heritage centres, The Times of India reports. By tapping a tag or scanning a code at the popular Khajuraho and Orchha tourist destinations, visitors who download the mobile app will be able to access detailed information, videos and pictures on their mobile phone in Hindi, English, Japanese, French and Mandarin.

    Facebook moves to the point-of-sale

    April 19th, 2012

    Facebook has acquired Tagtile, a startup founded by two US-based graduates of the Indian Institute of Technology (IIT), as it begins to roll out its Facebook Offers service. In an interview with the Times of India, Tagtile co-founder… More

    Delhi Metro tests NFC

    March 6th, 2012

    Indian mass transportation operator Delhi Metro Railway Corporation has “started experimenting with NFC-enabled cell phones” for ticketing, reports The Times of India. 1.6 million commuters ride the Delhi Metro’s 190km network every day.