Spice Money: Industry Monitoring 23 to 25 March 2019
- Priyanka Kanodia
- Mar 27, 2019
- 3 min read
Spice Money
Industry News
Google Pay listed as payment option on eBay
Publication- BGR
Edition- Online
Date- 23 March, 2019
Keeping up with the online-purchasing habits of the millennials and Gen Z, US-based e-commerce platform eBay has added Google Pay as a payment option to its Android app to further increase customer choice in its new “managed payments” plan. The “managed payments” plan from eBay allows users to check out without leaving the platform, using the payment method of their choice. The integration would let Google Pay users to complete purchases on eBay via the app, mobile web and on desktop from sellers participating in managed payments, regardless of the operating system (OS) or device, eBay wrote in a blog post on Thursday.
“Offering Google Pay as a form of payment is another significant step toward providing our customers with more choice in their payment options, and creating an experience that is tailored to personal preferences,” said Alyssa Cutright, Vice President of Global Payments, Billing and Risk at eBay. Google Pay would be made available to Android users in early April as the newest payment option, joining Apple Pay. “Both the payment options are currently only accessible when buying from sellers enrolled in eBay’s new payments experience, and will be increasingly available to shoppers as the programme grows to process more volume in additional geographies,” the post said.
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WeChat Pay to reportedly take on Google Pay and Paytm in India later this year
Publication- Quirs
Edition- Online
Date- 24 March, 2019
Chinese tech giant Tencent is looking to enter India‘s payment market with a UPI-based (Unified Payments Interface) WeChat Pay app, according to Entrackr. The report notes Tencent execs met with the National Payment Corporation of India (NPCI) three weeks ago to discuss obtaining a license, with plans to launch the service in May or June.Hövding wants to save cyclists that are too cool for helmets The Hövding is an airbag-style bicycle helmet designed in Sweden that aims to be unobtrusive, while offering superior protection compared to traditional equipment. The question is: do the Dutch public care? We took the Hövding to the streets of Amsterdam to find out.
In the already saturated UPI payments market in India, WeChat Pay will compete against BHIM, PhonePe, Paytm, and Google Pay. According to NCPI’s website, monthly UPI transaction volumes consistently exceeded Rs. 1 trillion ($14.49 billion) in December, January, and February; WeChat will certainly be tempted to get a slice of that pie.
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China's Tencent to launch UPI-enabled payments app WeChat Pay in India: report
Publication- CNBC TV 18
Edition- Online
Date- 25 March, 2019
Chinese technology giant Tencent is set to join its major global peers Google, Amazon, WhatsApp and Xiaomi with a launch of its own UPI-enabled payments app ‘WeChat Pay’ in India, Entrackr reported, citing sources familiar with the matter. Tencent, which will operate only under the UPI ecosystem, has already partnered with Axis Bank, HDFC Bank and ICICI Bank to have it's own UPI handle (@wechat), adding that the app would be launched by the end of May-June, the report added. Senior officials from the company met officials from the National Payment Corporation of India (NPCI) three weeks ago for obtaining a license for full-fledged payments app, the report said.
In China, Tencent’s WeChat Pay is the second most popular payments app after Alipay, according to Entrackr. Last year it crossed more active users than Alipay’s 520 million in early 2018. Tencent’s plan to launch an UPI-powered payments app in India has come at a time when its game PUBG has been gaining quick popularity in the country, Entrackr said.
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