In no particular order, here are MediaNama’s top 10 stories of the week ended 13th November 2016
MediaNama would like to thank its sponsors: Akamai, Fortumo, Info Edge, MapmyIndia, Microsoft, Times Internet, Xapads and E2E for their support.
Unocoin releases APIs for bitcoin wallets and merchants transactions
Bitcoin startup Unocoin has released an application programming interface (API) which will allow individuals and companies to generate bitcoin wallets and buy, sell, send and receive bitcoins and allow merchants to accept and request payments through bitcoins.
They will also allow give real-time or historical price information of bitcoins and get notifications when payments arrive. The company mentioned that its API is being used by Paycase, a Canadian remittance application which allows for money transfer from Canada to India. Read it here
Gati’s ecomm revenues up 3.3% with increase in smaller weight segments
Logistics company Gati has posted total consolidated revenues of Rs 425.64 crore for the quarter ended 30 September 2016 (Q2FY17). This was an increase of 5% year-on-year from Rs 404.94 crore in the same quarter last year. On a sequential basis, total revenues remained near constant from Rs 425.54 crore. Read it here
Google search to prioritize ranking based on mobile website
Google is making a big change to its search algorithm – it is experimenting with making its search index mobile-first. According to the company, this will solve the problem where the mobile page tends to have less content that its desktop counterpart, because “our algorithms are not evaluating the actual page that is seen by a mobile searcher.” Read it here
Idea added 9M new devices mostly from big towns in Q2 FY17
Idea added over 9 million new devices to its network during Q2 FY17, which is significantly higher than the 6.5 million devices that it added in the preceding quarter (Q1 FY17). During an analyst call, the company’s CEO Himanshu Kapania said that the growth in device additions is due to consumers moving on to buy new 4G enabled smartphones in the market. He added that the earlier Idea added only “2 million to 3 million device” every quarter. Read it here
Update: Ecommerce companies are suspending COD orders awaiting clarity
Update: Amazon and Snapdeal sent the following statements:
“We welcome the Government’s move. We understand that there will be a temporary impact on customers’ day to day payment transactions. Currently, we have temporarily stopped cash as a payment option for new orders.
All Snapdeal users who have already placed Cash on Delivery orders can pay for their deliveries using any currency notes except the Rs 500 & Rs 1000 notes discontinued by RBI. Users also have the option to defer the delivery by a few days till new currency notes become easily available. Read it here
What will happen to cash remittance using wallets with demonetization?
With Rs 500 and Rs 1000 notes being phased out by the government, there is still no clarity from the Reserve Bank of India (RBI) regarding cash loading with these denominations in digital wallets and wallets which offer remittance service. MediaNama contacted Paytm, MobiKwik, Oxigen, FINO Paytech and ItzCash and they said that they are still awaiting instructions from the RBI about cash pickups and money transfer service. Read it here
The “Fair Usage Policy” and data caps for broadband in India must go
How would you define “unlimited”? In response to a consultation from the Indian telecom regulator TRAI in 2010, Bharti Airtel, India’s largest telecom operator and private ISP, said that while “a strict definition of the word ‘Unlimited’ would mean ‘without any limits’, we beg to differ with the use of the word ‘Unlimited’ in tariff advertisements being termed as misleading”…”The word “Unlimited” has to also be seen from the perspective of the conditions imposed.” Read it here
Live blog: As demonetization kicks in, here is how India is reacting
In an attempt to crack down on black money, Prime minister Narendra Modi has phased out two major currency denominations – Rs 1000 and Rs 500 notes. While this may prove a major boost for people to use digital means of transactions, there are a lot more ramifications for the larger public. Here we try to catalogue what has been happening with the currencies being phased out: Read it here
Wallet usage soars following demonetization as ATM queues lengthen
Usage of mobile and digital wallets soared following the phasing out of Rs 500 and Rs 1000 notes from circulation. Paytm saw a surge of usage across all its metrics.
Here are Paytm’s numbers on day 2 of the demonetization:
Traffic Increase: 7x increase in traffic
App Downloads: 3x increase in new App installs overall Read it here
State’s online cab aggregator rules stay: Karnataka High Court
The Karnataka High Court has upheld the state government’s rights to frame the Karnataka On-demand Transportation Technology Aggregators Rule, 2016 under the Union government’s Motor Vehicle Act, 1988, reports Mint. Online cab aggregator Uber had contested the state’s authority to frame the rules and the legality of the rules. Read it here