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Developments in the digital ecosystem today and what some of them mean

A quick lowdown of the developments in the Indian and international tech and digital ecosystem.

PhonePe has partnered with Dream11, a fantasy sports platform, to offer direct UPI payments on the latter.

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Oyo is 112% more booked out for 14 February 2019, than it was on the same day last year, Oyo said in a statement. It expects the bookings to cross an increase of 150% as V-Day approaches.

  • 63% of bookings from couples (Goa, Delhi, Bangalore) (Single bookings in Delhi)
  • 22% from friends and family

In Malaysia, Oyo saw a 613% increase in bookings compared to last year. Most of these were couple bookings.

What it means: Exactly what it means. Stop reading into it!

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Zomato deliveries will now take place on bicycles – both mechanical and electric, along with its current delivery method of the motorbike, it said in a statement. It has tied up with Mobycy, e-HIRAN, TNT, Yulu and Zoomcar PEDL to offer deliveries which are in a 2.5 km radius. (Take a photo for us the next time you see one!)

Zomato said this will be better for the environment, create additional jobs (unclear how), deal with traffic and parking issues “especially in thinner lanes of the country, where cycles would be able to navigate better.”

  • It claims to have 5,000 cyclists doing deliveries across 12 cities, primarily in Delhi NCR.
  • Mohit Gupta, CEO, Food Delivery business, said that Zomato aims to convert 40% of its fleet to power-assisted bikes within the next two years.
  • Zomato claims that the cycle fleet does over 1 million trips of 4.4 million kms everyday. It also claims to train the bike rider on road safety and provides them an “ergonomic delivery bag.”

What this means: Zomato’s smaller city and town deliveries are picking up rapidly. The fact that it has employed cycles for deliveries goes to show that not only are people ordering within close proximity of the restaurants, but also that there is a heavy demand, leading to longer delivery times. Zomato is smart to address this problem with cycles. However, readers would like to note that just like the last mile deliveries through motorbikes, the lack of regulations in this space allows Zomato to experiment with the delivery business. Questions about cyclist safety, whether they have insurance coverage and what decides their pay (India doesn’t have a minimum wage policy) remain unanswered.

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Cashfree has launched Virtual UPI IDs for automated UPI transfers for businesses. These can be generated during signing up for a UPI app. With Cashfree, businesses can generate bulk UPI IDs against individual customers or invoices, the company said. Businesses can also use their own accounting software with Cashfree for automated updates on incoming payments. Currently, Cashfree’s UPI service is available on Google Pay, WhatsApp, PhonePe and other apps.

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People have invested Rs 2,000 crore in mutual funds through ETMONEY. The platform claims to add over Rs 150 crores of new investment transaction value every month from 1,200 cities. ETMONEY also added that it saw an increase in investments after it allowed users to switch to direct mutual funds for free last October. Mukesh Kalra, Founder and CEO of ETMONEY said that the company is looking to gain Rs 5,000 crore worth MF transactions in the next 12-18 months. ETMONEY claims to have 50 lakh Indian users.

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LinkedIn has started a live video streaming feature to broadcast to groups or the public, reports TechCrunch. As of now, the product is invite-only and only available in the US in the beta stage. LinkedIn will use parent company Microsoft’s Azure Media Services for this feature.

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In Facebook updates:

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© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ