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PAYMENT DATA LOCALISATION
India must not rewrite its UPI policies under US pressure: GTRIIndia's UPI policies should not be altered due to United States pressure. A think tank advises defending competition and policy autonomy fo...- India's next billion dollars from abroad may depend on easier visasIndia's record remittance boom faces a new long-term challenge as tighter immigration policies in developed economies threaten the pipeline...
- Why Meta’s Cred investment matters for WhatsApp Pay in IndiaMeta's substantial investment in Cred and appointing its founder Kunal Shah as global head of WhatsApp signals a major push into India's fi...
- Yuan or Dollar? Indian businesses explore alternatives as import costs climbIndian businesses, particularly MSMEs, are hesitant to adopt yuan-denominated settlements despite a weakening rupee. They prioritise locali...
- While Europe negotiated FTA, this startup was already hosting India's internet economyA new trade deal between India and Europe opens doors for businesses. However, companies like Hostinger from Lithuania already found succes...
- Amazon adds 10.6 acres to Mumbai data centre campus in Rs 125 crore dealAmazon Data Services India has acquired a significant land parcel near Mumbai. This expansion boosts its data centre capacity in India's la...
- PhonePe eyes South East Asia, Middle East for its global foraySources told us that PhonePe is looking to set up local subsidiaries in these geographies, apply for a payment licence, and offer domestic ...
- WhatsApp Pay awaits SC verdict to launch serviceRivals Google Pay and Walmart-owned PhonePe were given permissions by NPCI, as it is authorised to permit UPI-based payment services.
- Four entities yet to comply with RBI's data localisation norms: Ravi Shankar PrasadLast week, the RBI issued a clarification that all data related to payments must be stored only in India.
- Importance of localising data in payments ecosystemSince then, the government has drafted a similar policy for foreign e-commerce players as well.
- WhatsApp yet to comply with data localisation norms: RBIThis is the first time the central bank has made an official statement on WhatsApp’s payments business and compliance with data localisatio...
- Higher operating costs, frauds worry payment firmsThe biggest challenge to these companies, according to two top executives at global payment companies, lies in managing cyber-attacks in a ...
- Policies restricting data flow 'barriers' to growth of payments market in India: USIBCThe statement comes just a day after the expiry of RBI-imposed deadline on data localisation for payments companies operating in India.
- Domestic payment firms say fully compliant with RBI's data localisation normsThe RBI had issued a circular instructing all payments system providers to ensure that data relating to systems operated by them is stored ...
- RBI sticks to October 15 deadline for data localisationThe US wants to prohibit data localisation to ensure free flow of information across borders.
- Local firms back RBI’s October 15 deadline for data localisationGlobal corporations such as Pay-Pal, Visa and Mastercard along with payment service providers like Google and Amazon have sought more time.
- Data localisation may pinch startups, payments firmsCompanies will have to store financial data here if it’s notified as critical data, a move that will add to their costs.
- Insist on local storage of data, Paytm tells govtPaytm said mirroring of data is not the solution and many countries have disallowed companies from doing so.
- Payment firms wait on RBI clarity on data localisationRegulator’s stand that data be stored “only” in India is the biggest challenge with majority of industry bodies asking it to review or with...
- Data localisation critical for security of India's payment systems: Paytm"No one should be allowed to commercially launch service unless their systems are clearly only and only in India. Data Localisation is crit...
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