Category — Information Technology

Paypal Starts India Operations

After offering cross-border payments in India for a decade, global digital payments major PayPal announced the launch of its India operations.

PayPal Holdings, Inc., said, “Merchants offering PayPal will be able to process both local and global payments through PayPal, getting access to PayPal’s 218 million customers around the world and in India through a single integration.”

The Government of India’s recent push towards digital payments led PayPal to partner with government and state-owned banks on a number of initiatives, such as digital financial literacy programs and eTourist Visa (eTV), reports the Economic Times.

PayPal Logo

“India is transitioning away from our biggest competitor – cash – and our digital platform and technology has immense scope to enable this at scale. For us, the marathon has just begun,” Anupam Pahuja, Country Manager and Managing Director, PayPal India said.

India’s digital payments journey is on a high growth trajectory and we are proud to be a part of it. We are excited about our prospects in a market that is highly inspirational and aspirational,” Rohan Mahadevan, CEO PayPal Private Limited and senior vice president, General Manager, APAC said.

 

November 9, 2017   No Comments

Google Cloud Platform Launched in India

Google announced that its first Google Cloud Platform region in Mumbai, India, is now live. It offers several services including computing, big data, storage, and networking. Customers will be able to pay in Indian currency for the services. The launch marks Google’s entry into this domain in India where it trails Amazon and Microsoft.

Google Cloud Platform’s product manager Dave Stiver said that hosting applications in the new region can improve latency from 20-90 percent for end users in Chennai, Hyderabad, Bangalore and of course Mumbai, compared to hosting them in the other closest region, Singapore. Other cloud regions in Asia Pacific are hosted from Taiwan, Sydney and Tokyo, reports the Economic Times.
Google India Logo
Google said  it will have three such centers across the country, without spelling out the investment, though it has earmarked $30 billion of investments for the cloud offerings. Forbes says Google’s entry heats up the competition while opening up additional opportunities for the local ecosystem. The company can now join its competitors to bid for government projects. Many state governments and large public-sector enterprises are considering their move to the cloud.

November 9, 2017   No Comments

Microsoft Collaborates with Indian Institute of Technology

Microsoft is working with professors at the Indian Institute of Technology at Kharagpur to develop a search engine that will assist users looking for subjective information and trusted opinions. While current search engine algorithms work well with fact-based queries and can provide structured answers, queries based on human experiences and personal opinions are difficult for a standard search engine to understand. Questions such as “How to make small talk with new friends,” or “How does it feel to immigrate to a new country?” do not elicit satisfactory answers.

The Economic Times reports that Microsoft’s Senior Applied Researcher Manish Gupta partnered with professors from the Indian Institute of Technology, Kharagpur to conduct a study on extracting meaningful information from social conversations to help search engines answer social list queries better by deploying artificial intelligence and machine learning.image representing artificial intelligence

The study eventually proved that, by analyzing multi-word hashtags such as #foreveralone, and #childhoodfeels for example, search engines can now scour social networks and detect valuable insights from public conversations, using a highly effective and precise algorithm.

November 4, 2017   No Comments

Ebix to Invest $200 Million on Acquisitions in India

Atlanta, GA-based Ebix Inc., that provides solutions on infrastructure exchanges, enterprise systems and risk compliance in insurance, healthcare and financial services, among others, plans to spend an additional $200 million for acquisitions in India.

Ebix first purchase in India was an 80% stake in ItzCash for $124 million  from the Essel Group and other shareholders in May this year. This investment launched Ebix in the prepaid cards, bill payments and remittances platforms. The company will now look for acquisitions in newer segments such as travel and lending, reports Mint.

ebix logo

Robin Raina, chief executive of Ebix Inc. said, “In India, you have one company doing wallets, one on insurance, some other focusing on remittance, and others focused on travel. However, the consumer remains the same; the same consumer is saying he wants to travel, or buy insurance, or send/receive money. By consolidating all these needs on one platform and using the same last-mile connectivity, you bring ease for the consumer, efficiency of doing the business as back-end costs reduce, and merchants or distributors on your network can also now offer multiple services to their customers.”

 

 

November 1, 2017   No Comments

WhatsApp Partners with eTailers in India

With a 200 million plus user base that communicates in 10 Indian languages to generate 50 billion messages a day, Facebook-owned WhatsApp is turning toward businesses in India to monetize the platform. It has already partnered with travel portals  MakeMyTrip and Goibibo, and is now planning to add Flipkart, utility agencies, movie houses, and telecom players too. Users will be able to access the services offered and make payments on WhatsApp itself via a new WhatsApp wallet.

WhatsApp Logo

In February this year, WhatsApp co-founder, Brian Acton, met India’s minister for Information Technology Ravi Shankar Prasad to discuss ways the company could contribute to India’s digital commerce initiatives, reports the Business Standard.

 

October 31, 2017   No Comments