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ETtech Explainer: Winzo founders' arrests, centre’s fraud charges a moment of reckoning for Indian gaming - The Economic Times

Economic Times

Economic Times · 1d ago

ETtech Explainer: Winzo founders' arrests, centre’s fraud charges a moment of reckoning for Indian gaming - The Economic Times

The founders of gaming company Winzo have been arrested on money laundering charges, as the Indian government cracks down on real money gaming. The Enforcement Directorate has accused Winzo of bot fraud, withholding funds, and capital flight. These actions coincide with the government's defense of a ban on real money gaming, citing concerns over financial fraud, terror financing, and social costs. This situation highlights increased scrutiny and challenges for the Indian online gaming industry.

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ETtech Explainer: What is Flipkart’s ‘advertise now, pay later’ all about? - The Economic Times

Economic Times

Economic Times · 4m ago

ETtech Explainer: What is Flipkart’s ‘advertise now, pay later’ all about? - The Economic Times

Flipkart has launched the 'Advertise Now, Pay Later' (ANPL) feature, allowing sellers to run ad campaigns without upfront payments. Targeted at small businesses and new brands, this initiative removes financial barriers by using sellers' existing earnings as collateral. Over 24,000 sellers have joined, benefiting from increased visibility and growth opportunities. This model contrasts with Amazon and Meesho's approaches, streamlining the process without credit checks or hidden charges.

ETtech Explainer: Why are ecomm, food delivery firms hiking platform fees ahead of festive season? - The Economic Times

Economic Times

Economic Times · 2m ago

ETtech Explainer: Why are ecomm, food delivery firms hiking platform fees ahead of festive season? - The Economic Times

Swiggy, Zomato, and Myntra have increased platform fees ahead of the festive season to counter rising operational costs and enhance profit margins. Swiggy's fee is now Rs 15, Zomato's is Rs 12, and Myntra's is Rs 25. These hikes align with periods of higher consumer spending when users are less likely to resist additional charges. The increased fees help these companies manage seasonal costs and bolster profitability during peak demand times.

Indonesia arrests over 100 Taiwanese for alleged cyber fraud

Economic Times

Economic Times · 1y ago

Indonesia arrests over 100 Taiwanese for alleged cyber fraud

Indonesian police have apprehended over 100 Taiwanese individuals at a villa in Bali for suspected cyber fraud. These arrests highlight the growing concern surrounding cyber fraud groups in Southeast Asia, with authorities in China, Indonesia, and Malaysia intensifying their efforts to combat them. The group was found with numerous electronic devices and is accused of conducting online scams targeting Malaysians. While authorities cannot bring charges against them due to jurisdictional issues, they plan to work closely with relevant agencies, including those in Malaysia. The individuals will be deported after further questioning. Indonesia previously confronted international cyber fraud networks with the help of Chinese authorities.

Online betting: ED raids WinZO, Gamezkraft premises - The Economic Times

Economic Times

Economic Times · 10d ago

Online betting: ED raids WinZO, Gamezkraft premises - The Economic Times

The Enforcement Directorate recently conducted raids at premises linked to online gaming platforms WinZO and Gamezkraft as part of a money laundering investigation. Searches were carried out at multiple locations in Bengaluru, Delhi, and Gurugram. The investigation focuses on alleged manipulation of gaming algorithms and suspected laundering activities through cryptocurrencies. This action follows the Indian government's recent ban on real money online gaming. The gaming companies have yet to respond to the raids.

ETtech Explainer: Why are Indian startups up in arms against Google Billing?

Economic Times

Economic Times · 1y ago

ETtech Explainer: Why are Indian startups up in arms against Google Billing?

Indian app developers have been raising concerns over Google's billing policies, claiming that they will affect their revenue. Apps like Shaadi.com and BharatMatrimony.com were delisted for not complying with Google's billing system but were later restored without in-app payment options. Startups argue that Google's near monopoly in the app publishing industry allows them to impose exorbitant fees. Google charges between 15% and 30% per transaction, while other payment aggregators charge almost zero to 4%. Startups are considering building their own app stores to avoid Google's high rates. The Payments Council of India suggests enacting laws to prevent such fees.

ED widens net globally against online gaming - The Economic Times

Economic Times

Economic Times · 22h ago

ED widens net globally against online gaming - The Economic Times

India's Enforcement Directorate is investigating online gaming firms Winzo and Gameskraft for allegedly moving money and operations abroad through foreign units, suspecting violations of FEMA. It plans to issue Letters Rogatory to international authorities to obtain information on purported proceeds of crime and gaming activities. The investigation suggests funds were diverted under the guise of investments, possibly involving shell companies, with user data potentially transferred illegally to foreign jurisdictions.

ED freezes deposits worth Rs 523 crore in probe against online gaming platforms WinZo, Gameskraft - The Economic Times

Economic Times

Economic Times · 4d ago

ED freezes deposits worth Rs 523 crore in probe against online gaming platforms WinZo, Gameskraft - The Economic Times

The Enforcement Directorate has frozen Rs 523 crore of deposits from online gaming platforms WinZO and Gameskraft. These companies allegedly kept player funds after India banned real-money gaming. The ED conducted searches and accused the companies of engaging in unscrupulous practices, which included making players compete against algorithms unknowingly. Funds have been frozen under the Prevention of Money Laundering Act, and investigations revealed diverted funds to overseas accounts.

Real-money gaming apps see sharp decline in downloads, begin layoffs - The Economic Times

Economic Times

Economic Times · 2m ago

Real-money gaming apps see sharp decline in downloads, begin layoffs - The Economic Times

The introduction of the Online Gaming Bill, 2025, has caused a significant decline in downloads for real-money gaming apps like MPL, Winzo, and Zupee, with a drop between 60% to 95%. Dream11 managed to double its downloads despite the ban. Many companies, including MPL, are pivoting to free-to-play models and facing layoffs due to lost revenues. The ban has led to legal challenges from players like A23, who contested the law in Karnataka High Court.

ETtech Explainer: All you need to know about OpenAI’s rival Mistral AI

Economic Times

Economic Times · 1y ago

ETtech Explainer: All you need to know about OpenAI’s rival Mistral AI

Microsoft has partnered with French AI startup Mistral AI, allowing Mistral's AI models to run on Microsoft's Azure cloud platform. Microsoft will acquire a minority stake in Mistral AI. Mistral AI's latest model, Mistral Large, will be made available to Azure customers. The company has previously signed similar deals with Google and Amazon to distribute its models. Mistral AI's Mixtral 8x7B model claims to outperform competitors on performance benchmarks while using a cost-efficient methodology. Mistral AI recently raised $415 million in a funding round, bringing its valuation to around €2 billion. The startup is led by CEO Arthur Mensch and co-founders Guillaume Lample and Timothee Lacroix.

ETtech Explainer: Why did Google delist popular Indian apps like Naukri, Shaadi, others?

Economic Times

Economic Times · 1y ago

ETtech Explainer: Why did Google delist popular Indian apps like Naukri, Shaadi, others?

Google recently removed several popular apps by ten Indian developers from its Play Store due to non-compliance with billing policies. This move has sparked a dispute between Google and Indian developers over what they perceive as unfair policies. However, some of the apps have since been reinstated after they began complying with Google's billing norms. The Indian internet founders are calling for government intervention, while Google maintains that developers had ample time to prepare for the enforcement of its payment policy. The Indian government has summoned Google and affected startups for a meeting to discuss the issue.

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