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News on Medial
Google Pay Announces Pan-India Roll Out Of SoundPods Amid Rumblings At Paytm
Inc42
·
1y ago
Medial
Google Pay is set to launch SoundPods, an audio device that enables merchants to track QR code payments through audio notifications. The device will compete directly with Paytm's Soundbox. Google Pay has received positive feedback from merchants who participated in the limited pilot of SoundPods. The product will be offered to merchants through a daily subscription plan at INR 5 per day for 25 days a month, or an annual plan for INR 1,499. This move puts Google Pay in line with Paytm, PhonePe, and BharatPe, who have already launched similar devices for merchants. The launch coincides with regulatory troubles for Paytm Payments Bank, which has been barred from conducting deposits or credit transactions until March 15.
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Related News
Google launches Google Pay SoundPod for small businesses; Know the pricing
IndianStartupNews
·
1y ago
Medial
Google Pay has introduced SoundPod, an audio device designed to improve the digital payment experience for merchants in India. The device provides real-time audio alerts for QR code payments, reducing checkout times. SoundPods are currently available in a limited pilot phase, receiving positive feedback, and will be made accessible to small merchants in the coming months. This announcement comes in response to recent action against Paytm Payments Bank by the Reserve Bank of India. Google Pay is offering various subscription options and a cashback incentive to encourage merchant adoption.
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Google to debut credit in India, announces a slew of AI-powered launches
Economic Times
·
1y ago
Medial
Google is set to launch a new service called 'Google Pay for Business' in India, allowing merchants to accept digital payments. The company also announced the debut of 'Google Pay Later', a digital credit platform that will provide users with convenient payment options. Additionally, Google introduced several AI-powered features, including Smart Scan, Spots, and Read Out Loud, further enhancing user experience.
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Following YouTube, Meta announces crackdown on 'unoriginal' Facebook content | TechCrunch
TechCrunch
·
25d ago
Medial
Meta is intensifying its efforts to curb unoriginal Facebook content by taking action against accounts repeatedly reposting others' material. This move follows YouTube's similar policy update. Meta targets spammy and impersonating accounts, focusing on reducing content distribution and monetization opportunities. Amid criticism over automated enforcement errors, Meta encourages authentic storytelling and warns against unauthorized reuse, including AI-generated content. These changes will roll out gradually, allowing creators time to adjust and access new insights on content distribution.
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Google Pay takes its QR sound-box to small merchants in India after trial run
TechCrunch
·
1y ago
Medial
Google is set to expand the rollout of its portable payment validation speaker, known as the SoundPod, to small merchants in India. The device, which provides audio confirmation of successful payments, aims to reduce checkout times and has received positive feedback during limited testing. India is a key market for Google Pay, and the expansion comes amid the company's winding down of some payment apps in the US. Other companies, such as Paytm and PhonePe, have already gained wide adoption for their similar portable payment devices in India.
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Government announces ₹1,435 crore PAN 2.0 Project
Internet
·
8m ago
Medial
The government has launched the ₹1,435 crore PAN 2.0 Project to modernize taxpayer registration services and use the Permanent Account Number (PAN) as a common business identifier across specified government agencies. Approved by the Cabinet Committee on Economic Affairs, this initiative aligns with the Digital India vision, emphasizing data consistency, eco-friendly processes, and cost optimization. It integrates and upgrades the existing PAN/TAN ecosystem for enhanced digital services, offering faster and more accessible taxpayer experiences. The project includes advanced PAN validation services, consolidating core and non-core functionalities. Currently, India has issued 78 crore PANs, with 98% belonging to individuals. This e-governance effort aims to improve efficiency, security, and infrastructure agility.
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PhonePe Tops UPI Chart With 6.5 Bn Transactions In April
Inc42
·
1y ago
Medial
PhonePe continues to dominate the UPI ecosystem in India with a market share of 48.87%, processing 6.5 billion transactions out of a total of 13.3 billion in April. Google Pay and Paytm retained their second and third positions with a market share of 37.5% and 8.3% respectively. CRED secured the fourth spot, while Amazon Pay, Fampay, and BHIM also made notable transaction numbers. Despite a slight decline in transaction volume and value, PhonePe remains a strong player due to its continued investments in subsidiaries. Paytm, however, has experienced a decline in transactions since regulatory measures were imposed on its payments bank.
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Government announces Rs 1,435 Cr PAN 2.0 Project
YourStory
·
8m ago
Medial
The Indian government has announced the PAN 2.0 Project, with a budget of Rs 1,435 crore, to transform the permanent account number (PAN) into a common business identifier for all government digital systems. This project aims to improve taxpayer registration services by providing easier access and faster service delivery. Additionally, it will ensure data consistency, cost optimization, and enhanced security. The PAN 2.0 Project aligns with the Digital India vision, allowing PAN to be used as a common identifier across specified government agencies' digital systems. Currently, there are 78 crore PANs issued, with 98% being allotted to individuals.
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Mukesh Ambani's Jio Soundbox is all set to give tough competition to Sharma's Paytm
IndianStartupNews
·
1y ago
Medial
Mukesh Ambani's Jio is entering the UPI payment market with the introduction of Jio Soundbox. It will compete against Paytm, Google Pay, and PhonePe. The Jio Soundbox utilizes existing Jio Pay app and is currently in its trial phase. This move comes at a time when competitors such as Paytm are facing setbacks. Jio plans to offer incentives to shop owners to promote the adoption of Jio Soundbox. This initiative is part of Jio's strategy to diversify and dominate the digital payment ecosystem in India.
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Paytm UPI payments drop in February following RBI action
Economic Times
·
1y ago
Medial
India's Paytm, one of the leading players in the Unified Payments Interface (UPI) market, experienced a 7.6% drop in transactions in February due to regulatory action against its subsidiary, Paytm Payments Bank. In comparison, competitors PhonePe and Google Pay saw an increase in transactions. PhonePe reported 6.1 billion transactions, while Google Pay reported 4.7 billion. This decline highlights a trend of customers moving away from Paytm towards its rivals in the UPI payments space. The regulatory action by the Reserve Bank of India only affected Paytm's UPI business, allowing it to continue as a third-party payment application.
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Google realized Google Pay and Google Wallet are the same thing, so it’s getting rid of one of them
The Verge
·
1y ago
Medial
Google Pay, which replaced Google Wallet and Android Pay, will be phased out and Google Wallet will make a comeback as the primary money transfer platform on Android. Google Pay initially served as a tap-to-pay service, while Google Wallet transformed into a rival to Cash App and Venmo. Despite multiple changes and rebranding efforts, Google Pay has become redundant and will be discontinued after June 4th, 2024, in the US. Users are advised to withdraw their funds before then. Overall, this transition is less chaotic compared to Google's numerous attempts at messaging apps.
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