American Express, the US based Banking & financial products company, is in talks with Mukesh Ambani owned Reliance Industries Limited (RIL) to launch a JV in India that will offer financial services, including a payment gateway, according to a report in The Economic Times. The report cites unnamed sources saying that a payment gateway solution is high on RIL's priority list, since it plans to launch broadband services. The spokespersons of both companies have reportedly not commented. Remember that RIL had bought 95% in wireless broadband auction winner Infotel, for Rs 4800 crore. Why - Telecom operators like Airtel, RCOM, Vodafone and Tata Tele etc offer primarily pre-paid services, and payments are automatically deducted from consumer accounts. They typically do not have standardized billing terms and conditions, and the reach of their billing services is limited to a few value added services companies. We've written about this issue before. RIL may be looking to tap a larger, merchant ecosystem, to open up commerce external on mobile and broadband. Remember that this approach appears to be similar to what InMobi is attempting with its SmartPay solution, offering developers alternative billing services. - RIL is planning to launch LTE, which - according to industry rumors - is probably going to serve two functions - as a backhaul for 3G services (since existing mobile operators have limited spectrum), and mobile broadband services. An independent payment gateway solution will give it a broader playing field, taking it beyond just its mobile broadband services. - Why AmEx?…
- Event Announcement: Reworking the Data Protection Bill, Delhi, 8th Dec #Ad November 29, 2022
- Telegram Discloses Names, Numbers, IP Addresses of Alleged Copyright Infringers to Delhi HC November 29, 2022
- Nashik residents question the linking of Aadhaar with Voter ID November 29, 2022
- What can we learn about crypto scams from WazirX’s latest transparency report? November 29, 2022
- Platforms No Longer Have to Remove “Harmful” Legal Content Under the UK’s Online Safety Bill November 29, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...