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Top 10 stories of the week: September 18th to 24th September 2017

In no particular order, here are MediaNama’s top 10 stories of the week ended 24th September 2017

MediaNama would like to thank its sponsors: Info Edge, ESPN, & E2E, for their support.

ICICI Bank to introduce a “pay later” option for e-commerce similar to payday loans

ICICI Bank will be introducing a “pay later” option on e-commerce websites and this will be made available to the non-customers of the bank as well, reports the Times of India. However, the bank’s “pay later” option is different from other products such as PayU’s LazyPay and Simpl. Read it here

It’s official, WeChat shares private user data with the Chinese government

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Finally they have let the cat out of the bag. While updating to Tencent-owned messaging app WeChat’s latest version users are greeted with a new privacy policy statement that confirms what has been suspected for sometime now: WeChat shares private user data with the Chinese government. Read it here

As Zomato turns profitable, it slashes delivery commission for some restaurants

Zomato is slashing commission for food orders placed through it for partner restaurants as the restaurant listing and food delivery platform has turned profitable throughout the 24 countries it operates, across all its businesses, Zomato announced in a blogpost. Read it here

Mobile Wallet transactions had grown by 14.6M in July 2017

For the month ending July 2017, number of transactions using Prepaid Payment Instruments (Mobile Wallets and PPI Cards combined) increased by 6% to 270.2 million as compared to 255.65 million in June 2017, and grew 247% compared to 77.85 million in July 2016, according to data from the Reserve Bank of India. Read it here

ICICI Bank’s iMobile app enables Android fingerprint login

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ICICI Bank’s mobile banking application iMobile has quietly enabled fingerprint login for Android devices, MediaNama had learnt from reliable sources. With this, customers can log into the app without entering a username or password. Read it here

#NAMAPrivacy: Rights-based approach vs rules-based approach to data collection

A significant part of our #NAMAprivacy session on data collection was dedicated to the kind of approach businesses should take if there was data misuse and the implications of the same. Mrinal Sinha, chief operating officer at MobiKwik, wanted harsh punitive action on companies which cause harm due to data misuse. Read it here

PayPal reduces fees for FIRC certificates for merchants in India

In a move to boost business from Indian merchants, PayPal has reduced its Foreign Inward Remittance Certificate (FIRC) from Rs 2000 to Rs 1000 per transaction for up to 20 transactions. For more than 20 transactions, bulk FIRC fees will be Rs 2000. Read it here

UPI transactions grow 43% in August 2017; Rs 4,127 cr transacted

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The Unified Payment Interface (UPI) saw a 43% growth in the total transaction volumes taking place between July and August 2017, according to data published by the National Payments Corporation of India (NPCI). Read it here

Razorpay upgrades with four new products for merchants

Razopay has a new product suite which will help customers manage marketplaces, collect payments through NEFT, RTGS and IMPS, recurring payments and products to generate invoices and payment links. Read it here

Airtel Payments Bank reportedly opened bank accounts without customer consent

Airtel Payments Bank has reportedly opened bank accounts without informed consent from its customers and has received a notice from the UIDAI, reports the Press Trust of India. Read it here

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