Heena Sharma Blog

Google showcased an innovation for its mobile payments app Google Pay on Wednesday, wherein merchants at stores can initiate payment requests by punching in a customer’s mobile number on their point-of-sale (POS) terminals. With this the California-based firm is taking on PhonePe and Paytm in their own home ground and is also challenging its US rival Amazon. Google also unveiled two other services through which its payments application users can book train tickets and buy gold. “ Digital payments has been a phenomenal story for India,” said Ambarish Kenghe, director, product management, Google Pay, India. “We want to address use cases that are close to our (customer’s) heart.” Unified Payments Interface (UPI) transaction volumes have outpaced all other forms of digital payments including wallets, mobile banking, and credit and debit cards. It has grown 40 times in 18 months, from 17 million transactions in August 2017 to 673 million in February 2019. Read More Article

As we become increasingly dependent on online financial transactions, here are a few ways to help you avoid losing your hard-earned money to fraudsters Technology News : Economic Affairs Secretary Subhash Chandra Garg recently said that India's digital economy was expected to touch the $1-trillion mark by 2022. As the scope of the country’s digital economy widens – as with every technological advancement – the increasing use of digital transactions also brings the high risk of online frauds. Unsurprisingly, therefore, as a recently released survey revealed, nearly one in four Indians has directly experienced fraud at least once while transacting online. The report suggested that greater digital convenience was linked to higher fraud exposure – presenting a problem for both consumers and businesses. Here are a few tips that could help you make safe transactions online: 1. Use smart apps: As reported by Business Standard a few months earlier, fintech players are comi