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Paytm to invest ₹250 crore to expand Paytm QR
Publication- Livemint
Edition- Online
Date- 12 June, 2019
Digital payments major Paytm Wednesday said it will invest ₹250 crore this year for the expansion of Paytm QR in tier IV and V towns. "With this investment, Paytm expects to reach more than 20 million merchants across India by the end of this fiscal," it said in a statement. Paytm had introduced QR code-based payments to enable merchants, irrespective of the size of their business, to receive money directly into their bank account. "More than 1.2 crore merchants across the country already accept payments through Paytm QR. However, the majority of these are based in larger towns and cities. We are aiming to reach merchants in smallest of towns across India such as Ajmer, Bekgaon, Kurnool, Rohtak, and Latur," Paytm Senior Vice President Deepak Abbot said. Paytm said the cost of on-boarding a merchant in a small town is at least three to four times more compared to larger cities.
The company is focussing on getting more than 60 per cent of merchants on-boarded from these tier IV and V towns. "In the long run, we want to reach all of the 26-30 million merchants across every nook and corner of the country. We are progressing to enable financial inclusion in the remotest part of our country; and therefore, the Paytm QR accepts all digital payment instruments such as UPI, wallets, credit cards, debit cards, and net banking," Abbot said. In a separate statement, Paytm Money - a wholly-owned subsidiary of One97 Communications that owns Paytm - said it has received the approval from the Pension Fund Regulatory and Development Authority (PFRDA) to offer National Pension System (NPS) on its platform.
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Ericsson raises forecasts for 5G subscriptions to 1.9 billion by 2024
Publication- Gadgets Now
Edition- Online
Date- 12 June, 2019
Sweden's Ericsson has raised its forecast for 5G subscriptions by 27 percent to 1.9 billion by 2024, with network coverage offering access to 45 percent of the world's population, it said on Tuesday. Strong commitment is required from chipset and device vendors as the next-generation networks go live and 5G devices become more readily available, the telecoms network equipment maker said in its biannual Mobility Report.
Ericsson, which competes with China's Huawei and Finnish rival Nokia, said that North America is expected to lead the 5G uptake with 63 percent of anticipated mobile subscriptions in its region in five years, followed by North
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Industry News
Move to ban cryptocurrency has Indian blockchain firms worried
Publication- The Economic Times
Edition- Online
Date- 12 June, 2019
An industry report on the Indian blockchain sector has raised concerns around a draft proposal by the government to ban cryptocurrency and regulate digital currencies, echoing previous criticism by industry stakeholders and entrepreneurs. According to the yet-to-be-released report compiled by Blockchained India, illegitimate transactions, evasion of taxes and lack of talent are some of the other critical problems plaguing the cryptocurrency and blockchain industry, primarily due to a lack of regulations.
A government official told ET in April that the draft of the ‘Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019’ has been circulated to relevant departments. Last week, media reports suggested that holding, selling or dealing in cryptocurrencies such as bitcoin could entail 10 years in jail. A Right to Information query filed by blockchain lawyer Varun Sethi, however, showed that the Reserve Bank of India had not issued any such circular. It also had not received any communication from the government with regard to such a draft.
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Celebrating Blockchain
Publication- Millennium Post
Edition- Online
Date- 12 June, 2019
Technology is always going to attract investors and developers. That said, India should actively promote technological conclaves so that Modi's flagship 'Make in India' gets the boost it lacked in his first term. Technological conclaves for one aid in attracting a pool of investors to a platform populated by developers and techno-enthusiasts. A similar event in the form of India Dapp Fest 2019 is being held in Bengaluru by Blockchained India – a network of this fintech's champions – from June 11-15. Boasting a huge one-of-its-kind in Asia gathering, this fest is set to attract techno-enthusiasts, technocrats as well as investors who will experience a showcase of the wide spectrum of applications that utilise this new technology.
In a massive upgrade from the India Blockchain Week in September 2017 which had a dismal footfall, India Dapp fest envisages huge participation both from foreign as well as the native audience. In two years, Blockchain has grown making a global presence whereby research papers suggest how it could be a revolution in the banking systems across the world. But here our curiosity piques as to what exactly is Blockchain and why is it making such ruckus in the techno-world. Simply put, blockchain is a vast networked database.
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Edureka partners with NIT Rourkela to build future workforce in big data
Publication- CRN
Edition- Online
Date- 12 June, 2019
Edureka, an e-learning platform for trending technologies, has announced a partnership with NIT Rourkela to bridge the divide between big data roles and industry talent. Stemming from the growing need of the IT industry for qualified engineers who can harness the potential of big data, Edureka and NIT Rourkela have introduced a post graduate program in Big Data Engineering.
The comprehensive curriculum will nurture learners into Big Data Engineering experts through training, exposure to practical projects, placement assistance, an opportunity to network with industry veterans and offer mentorship from NIT Rourkela faculty. The interest to build a career in Big Data cuts across IT professionals from metros as well as Tier 2 Indian cities, non-resident Indians and foreign nationals. Therefore, the program has been designed to cater to learners from both Indian and global markets.
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Salesforce announces acquisition of Big Data Firm Tableau for $15.7 Billion
Publication- The Indian Wire
Edition- Online
Date- 12 June, 2019
On Monday, Salesforce CRM announced that it would buy Tableau Software Inc. DATA, a big data business analytics software company, for $15.7 billion in stock, fueling a 34% jump in the shares of Tableau. This deal came through just days after Alphabet Inc.’s Google said it would be spending $2.6 billion in cash to buy Looker, a startup business-analytics company.
Tableau uses self-service analytics to help people with any skill level work with data. Among the companies that use Tableau’s services are Charles Schwab, Verizon and Netflix. Once the transaction closes, Tableau will operate independently and stay headquartered in Seattle. “Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data,” Tableau President and CEO Adam Selipsky said in a prepared statement.
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