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|In: Digital|Last Updated: | 0 Comments

National Payments Corporation of India (NPCI), the umbrella organization for all retail payments system in India launched the pilot project for Bharat Bill Payment System (BBPS) with 26 Bharat Bill Payment Operating Units (BBPOUs).

In the first phase, BBPS will cover repetitive payments for everyday utility services such as electricity, water, gas, telephone and Direct-to-Home (DTH).

A. P. Hota, MD & CEO, NPCI said

BBPS, in due course of time would link all major billers in the country with all their consumers which will simplify bill presentment and bill payments electronically. Currently the volume of bills being paid by cash is so large that even if 25 percent of the bills get paid electronically, impact would be visibly enormous.

BBPS is the Reserve Bank of India (RBI) mandated system which will provide inter-operable bill payment services to customers. It is an integrated platform connecting banks and non-bank entities in bill aggregation business like billers, payment service providers, retail bill outlets etc.

As on date 62 entities have received in-principle approval from RBI to function as Operating Units (OU), out of which 52 are Banking entities and 10 are Non-Banking entities.

NPCI functions as the authorized Bharat Bill Payment Central Unit (BBPCU) which will undertake clearing and settlement activities related to transactions routed through BBPS. The RBI authorized BBPOUs will on-board billers, aggregators and payment gateways. They would also set up agent network and customer touch points to handle bill payments through different delivery channels including self-service, assisted, electronic and manual modes.

Pilot Participants BBPOUs

Bank BBPOUs – AP Mahesh Co-operative Urban Bank, Axis Bank, Gopinath Patil Parsik Janata Sahakari Bank, HDFC Bank, ICICI Bank, IDBI Bank, Indian Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab & Maharashtra Co-operative Bank, Punjab National Bank, RBL Bank, State Bank of India, The Saraswat Co-Op Bank, TJSB Sahakari Bank and YES Bank.

Non-Bank BBPOUs – Avenues India Pvt. Ltd, Common Service Centre, Euronet Services India Pvt. Ltd, IndiaIdeas.com (Billdesk), ITZ Cash Card Ltd, One97 Communications Ltd (Paytm), Oxigen Services India Pvt. Ltd, PayU Payments Pvt. Ltd, Spice Digital Ltd and TechProcess Payment Services Ltd.

About NPCI

National Payments Corporation of India (NPCI) was set up in 2009 as the central infrastructure for various retail payment systems in India and was envisaged by the Reserve Bank of India as the payment utility for all banks in the country. During the last six years, the organisation has grown multi-fold from 2 million transactions a day to 25 million transactions now. For more information, please visit http://www.npci.org.in/

|In: Digital|Last Updated: | 2 Comments

National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments system in India is pleased to announce that Unified Payments Interface (UPI) is going live for customers with 21 banks.

On April 11, 2016, the soft-launch of UPI was announced by Dr. Raghuram Rajan. For the last few months it was under pilot run mainly with employee-customers. The purpose of ‘pilot run’ was to ensure that technical glitches, if any, are fixed and the product gives a smooth experience for immediate ‘Pay’ and ‘Collect’ with Virtual Payment Address (VPA).

A. P. Hota, MD & CEO, NPCI said

This is a success of enormous significance. Real-time sending and receiving money through a mobile application at such a scale on inter-operable basis had not been attempted anywhere else in the world. Now the UPI App will be made available on Google Play Store by banks.

After assessing the success of pilot run, RBI had accorded their final approval for public launch of the product. NPCI had decided that only the banks with 1000 pilot customers, 5000 transactions and success rate of around 80 percent would be permitted to go live. Such a threshold criteria helped banks to refine their systems and procedure.

The UPI app of 19 banks will be available on the Google Play Store in next two to three working days for the customers to download and start using. The relevant details of the service would be available on the website of 21 banks.

List of Banks which are going live with UPI

Banks providing UPI enabled mobile app on Google Play Store:

  • Andhra Bank, Axis Bank
  • Bank of Maharashtra
  • Bhartiya Mahila Bank
  • Canara Bank, Catholic Syrian Bank
  • DCB Bank
  • Federal Bank
  • ICICI Bank
  • TJSB Sahakari Bank
  • Oriental Bank of Commerce
  • Karnataka Bank
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Punjab National Bank
  • South Indian Bank
  • Vijaya Bank &
  • YES Bank.

 

Issuers

  • IDBI Bank and RBL Bank are on-boarded as issuers. It enables their customers to download any UPI enabled Apps mentioned above and link their account.

 

About UPI

UPI is a unique payment solution which empowers a recipient to initiate the payment request from a smartphone. It facilitates ‘virtual payment address’ as a payment identifier for sending and collecting money and works on single click 2 factor authentication. It also provides an option for scheduling push and pull transactions for various purposes like sharing bills among peers. One can use UPI app instead of paying cash on delivery on receipt of product from online shopping websites and can pay for miscellaneous expenses like paying utility bills, over the counter payments, barcode (scan and pay) based payments, donations, school fees and other such unique and innovative use cases. For more information, please visit http://www.npci.org.in/UPI_Documents.aspx

About NPCI

National Payments Corporation of India (NPCI) was set up in 2009 as the central infrastructure for various retail payment systems in India and was envisaged by the Reserve Bank of India as the payment utility for all banks in the country. During the last six years, the organisation has grown multi-fold from 2 million transactions a day to 25 million transactions now. For more information, please visit http://www.npci.org.in/

|In: Technology|Last Updated: | 0 Comments

The National Association of Software & Services Companies [NASSCOM] launched The Future of Internet in India report in partnership with Akamai Technologies. The study was researched and created by YourStory in collaboration with Nasscom and with supporting data from Akamai and other sources. The report, launched by R Chandrashekhar, President, NASSCOM and Dr. Tom Leighton, Co-founder, CEO Akamai Technologies, aims to understand the impact of the Internet on the way we live, learn, work, shop and connect and focuses on the future trends that will change the landscape of India by 2020.

Speaking at the launch, R Chandrashekhar, President, NASSCOM stated that

India’s Internet consumption has already exceeded USA to become No. 2 globally. Keeping into consideration the massive impact that the Internet is creating across sectors, it has become the greatest disruptor of our age by changing the way we work, interact socially and live life in general. By 2020, the Internet is expected to penetrate deeper in the hinterlands of the country, helping to create more opportunities for everyone.

The rapid growth of the Internet and its expansion into verticals including e-Commerce, Travel and Hospitality, Public Sector, Financial Technology and Media is a clear indication of the state of things to come.

According to the report, India’s Internet user base is the second largest after China. Globally, the number of Internet users is expected to touch 4170 million by 2020 [Source – DazeInfo]. The growth of the Internet has successfully created a strong ecosystem for new businesses to tap into growing markets and create solutions to address their demands.

Sidharth Malik, Vice President and Managing Director, India, Akamai Technologies said

The start-up ecosystem in India, coupled with the government’s initiatives make the Internet accessible to every citizen across the country, is helping India set the stage to enable large numbers of ‘netizens’ to reap the benefits of the Internet. With the rise of digital natives and the increased adoption of smartphones, Internet penetration in India will stretch beyond the large cities, as more services and devices come online. This is also a great opportunity for enterprises to harness the power of the Internet to innovate and scale operations.

Online shopping will account for two-thirds of the total e-Commerce market, edging out travel

According to the report, the overall e-Commerce market in India was valued $17 billion in FY 2016, and by 2020, India will have an estimated 702 million smart phones in use and mobile phones will emerge as the preferred device for shopping, accounting for 70% of total online shopping. The fashion and lifestyle segment will emerge as the largest e-tailing category with a 35% contribution to e-Commerce GMV by 2020, overtaking the consumer electronics segment which dominates the sales of Indian e-Commerce industry at present.

50% of travel transactions to be online by 2020

Travel across India, for social visits, leisure, shopping and holidays is all set to increase and more people will be booking online, taking advantage of competitive pricing offered by online travel agents [OTAs] and aggregators. An increasing amount of user-generated content online [views on social media, reviews on websites, etc.] is driving aspirational travel, tipping the scales in favour of trips that were once only contemplated, never undertaken.

Media and OTT – All moving online, one app at a time

The availability of affordable smartphones and tablets has encouraged the second screen phenomenon. With the rapid adoption of smartphones and next generation networks, content consumption patterns and consumer engagement channels are rapidly evolving. Even in its nascent phase, the video-on-demand [VOD] market is highly competitive in India.

Financial technology – Disrupting the way India pays online

Fintech is disrupting financial services and is likely to have far more widespread impact on society and the Indian economy, both directly and indirectly. The fintech software market within this was pegged at $1.2 billion [13-15%, Source – NASSCOM Fintech Report].

The remaining 87% focus on services, primarily in payments [60% of the market, including ATM/Point of Sale] and core banking services. Overall, according to the report, India’s fintech market is expected to grow 1.7x between 2015 and 2020. While cash-on-delivery may remain the preferred mode of payment for newer users, keep in mind that use of mobile banking and e-wallets is surging.

Conclusion – The future is bright but there is a greater need to collaborate

In times to come, while mobile will be a key access device, larger devices will continue to be important in areas like education and business. Multiple stakeholders will need to work in tandem to bring the next generation of Internet users [rural based, mobile centric, local language focused] online in India.

Further, with digital connectivity, the risk of cyber-crimes also increases. With multitudes of people using e-Commerce and transacting online, there is a huge need for technologies that can prevent data theft. India is witnessing a huge demand for security professionals [technologists and analysts, alike]. In line with these growing demands, security has become one of the key focus areas for NASSCOM Sector Skills Council, working towards creating the right cyber-security skill sets for Indian IT professionals.

|In: Technology|Last Updated: | 0 Comments

Today’s progressive digital age has brought about an obvious need to shift towards innovation and technology. Capitalising on this shift, Navneet Education Ltd., being a pioneer in the stationery industry, has gone a step further and launched YOUVA Smartbooks. A perfect combination of Navneet’s core products and advanced technology, YOUVA Smartbooks have been designed to portray the beauty of Augmented Reality that work in sync with the YOUVA app [iOS, Android].

The YOUVA app lets you enter the virtual space and at the same time brings you very close to the real world environment. This is the foremost offline Augmented Reality application in this segment designed keeping in mind the inclinations of the youth.

Just a few weeks ago, the company launched a new brand of stationery ‘YOUVA’ which caters to the young audience. The advent of ‘YOUVA Smartbooks’ aims at striking the much needed balance between tradition and technology. A revolution in the Indian world of everyday stationery, the YOUVA app will provide users a way to experience Long-books in a way they would have never ever imagined. With the launch of YOUVA smart-books, the brand aims to introduce innovative products that cater to the demands of the young generation inclined towards the digital space.  The product acts as a stress buster, power booster & also relieves the study anxiety to some extent.

YOUVA Smartbooks are no ordinary Long-books. With the new YOUVA app, one can turn their Smart-book into a 3D game in front of their eyes, anywhere they want! After scanning the design on the book you can play the game through the mobile application. The six different designs will have different circuits with little changes in the difficulty of playing the game.

This brings in infotainment in the best possible way for a generation of youth that is extremely passionate about gaming. Not just that, this YOUVA app will be the gateway to many more interactive games and surprises with every new series. The first in the YOUVA Smartbooks series is an A4 size Long-book, 140 page Smart-book. There are six variants of race cars that include Formula 1, Nascar Racing, Buggy Racing, American Muscle, Monster Truck & Sports Car that come alive when scanned through the YOUVA app.

How to run your YOUVA Smartbook into a 3D game

  • Download the YOUVA App from App Store/Google Play
  • Open YOUVA App and create one time login via Facebook/Google Plus
  • Follow the instructions on the app and scan the front cover of the YOUVA Smartbook
  • Get, Set, Game!!!

Commenting on the launch of YOUVA Smartbooks, Shailendra Gala, Director-Stationery Division, Navneet Education Limited said

Navneet has always worked towards empowering the youth in achieving their goals. With YOUVA Smartbooks, we have introduced a creative approach and a whole new experience to Long-books that also serve as a stress buster. This product series promises innovation, learning and entertainment. We are positive that this product will appeal immensely to a generation of youth that are technologically savvy and inclined towards gaming.

And if this sounds exciting, let us tell you, this is just the tip of the appberg. With the YOUVA app, you can trust Navneet to bring to your desk the latest in stationery and technology with every new series of Smartbooks.

About Navneet Education Ltd

Navneet Education Limited (formerly known as Navneet Publication India Limited) was established in 1959, is an educational syllabus based content provider in print & digital medium, manufacturer of scholastic Paper stationery, publisher of general & children books and also has a wide range of Scholastic Non-Paper Stationary products. Over the decades, Navneet has emerged as the preferred brand for Educational Products among teachers and students in India. Its products are sold under the brands ‘Navneet’, ‘Vikas’, ‘Gala’, ‘Grafalco’, ‘FfUuNn’ and ‘Boss’. For more information, please visit Navneet Education Limited

|In: Digital|Last Updated: | 1 Comment

Reiterating its commitment to Digital India, Intel India have announced the launch of Intel Education Digital Wellness Program in Assam, including the release of an Assamese version of Digital Wellness curriculum for students and teachers in government schools.

As part of this initiative, Intel India will closely work with the education ecosystem in Assam to enable a safe cyberspace for the students and youth. The announcement comes as the latest in a series of engagements that Intel has been running in the state since 2006.

The Intel Education Digital Wellness Program, developed by Intel Security Group, is an empowerment program for students and youth to make them aware of the possible risks of using the Internet and equip them with the necessary knowledge and skills to avoid such risks and stay safe and secure while on the Internet. The Intel Education Digital Wellness Curriculum is designed to be delivered through training modules, created especially for children and administered by the school’s teachers and master trainers.

Speaking at the launch, Kumud Srinivasan, President, Intel India, said

Intel has long been committed to the vision of Digital India. It is important for us to enable a robust and safe digital environment for everyone, particularly young citizens to be able to appropriately use the benefits of digital world. We believe the Intel Education Digital Wellness Curriculum is a key step in that direction and it will contribute to accelerating innovation and technology adoption in Assam.

As a part of the Intel Education Digital Wellness Program in Assam, Intel India will collaborate with the Department of Education, Government of Assam to impart training to 35,000 faculty and students in government schools on Digital Wellness and related initiatives, this year. In the last academic year, this Program was successfully implemented in Karnataka and Haryana, reaching out to 1,10,000 students & teachers.