For people taking part in the survey in the age group of 65 and over, around half of their payments were in cash in both 2016 and 2019. About 78 percent of the people taking part in the survey also held some cash in their wallet or purse, just a slight fall from 80 percent in 2016. Enditem … [Read more...] about Survey shows more Australian consumers prefer to use electronic payment
Vnpt electronic payment joint stock company
By Prashant KumarNew Delhi: In its “Global Economic Prospects” report of June 2020, the World bank said that the world economy was facing its worst recession since World War II and growth was expected to shrink by 5.2 per cent in 2021. Even as several governments across the globe announced relief packages to rescue their economy, many of them will have to face a downturn at least for the short term. For instance, the US economy is slated to shrink by 6.1 per cent in 2020 and that of India by 3.2 per cent in FY21.Yet, this grim reality has escaped stock markets, except for initial blip in March 2020. The Stock Market – argued by some as the daytime adventure serial of the well-to-do - would not be the stock market if it did not have its anti-climax moments or ups and downs. Anyways, the vagaries of stock market may be left out of current topic but what’s in focus is to gauge whether the impact of the pandemic on corporates/businesses is long term or will they … [Read more...] about OPINION: How would Covid-19 impact companies and their financing needs?
By Nitin BhatnagarIn the World Economic Forum of 2020, emphasis on creating a strong cybersecurity culture reiterated the urgent need for business leaders to adapt the right strategies and build effective partnerships to ensure optimal data security and digital trust. As the drive of the fourth industrial revolution towards ubiquitous connectivity and digitalization will continue over the next few years, taking necessary steps to secure the digital payments infrastructure is more vital now than ever before. Here are five key reasons that emphasize why making payment data security should be a top priority for Indian businesses:Since the 2016 Indian banknote demonetization, a vast number of Indian consumers have been adopting digital payment methods such as electronic fund transfers, card payments and mobile banking. In fact, as of November 2019, there are 830.7 million debit cards and 54.4 million credit cards in circulation in India, with over 5 million merchants in India accepting … [Read more...] about Prioritising payments data security: A turning point for all businesses
The CEO of PayQ, Shibabrata Bhaumik is a young first generation entrepreneur, who has developed application programme interfaces (APIs) for India’s ambitious Unified Payments Interface (UPI), it has been an enriching experience. “Working with the government is not so difficult,” he says. “Your credibility depends on your delivery of performance. The payments landscape is going to change fundamentally" … [Read more...] about PayQ founder Shibabrata Bhaumik disrupting payment industry with digital billing & Geo-tagging
Late last week union commerce minister Piyush Goyal exhorted auto companies to reduce their payouts, setting off an alarm in the country’s autobahn. Automakers on their part say that these payments help them to get access to the latest technologies.At present a company does not need shareholders’ to pay up to 5% of net sales as royalty payments. “Royalty payments must be viewed as economic facilitators towards transformative technologies, as long as they are within a reasonable range and globally competitive. In this regard, we must be ready to benchmark comparable royalty payments with leading economies,” said a Toyota Kirloskar Motor spokesman.A study by proxy advisory firm Institutional Investor Advisory Services (IiAS) earlier this year shows that of the 31 companies it covered in the report, royalty payout doubled between 2012 and 2019 to Rs 8300 crore. The top five royalty payers are Maruti Suzuki, Hindustan Unilever, ABB, Nestle and Bosch comprising 70% … [Read more...] about Pressure builds on auto companies over royalty payouts issue