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India has witnessed the fastest jump in alternative payment share for <keyword id="21422684" type="General" weightage="100" keywordseo="e-commerce-payments" source="keywords">e-commerce payments</keyword> in the <keyword id="20122305" type="General" weightage="20" keywordseo="Asia-Pacific-region" source="keywords">Asia-pacific region</keyword> from 20.4% in 2018 to 58.1% in 2023 as per a report by GlobalData, a data and analytics company. Options for payment other than traditional cash include <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>, <keyword id="6354770" type="General" weightage="20" keywordseo="debit-cards" source="Orion">debit cards</keyword> and <keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">credit cards</keyword> among others. "This significant uptake of alternative payment solutions can be attributed to the widespread usage of <keyword id="21223853" type="General" weightage="20" keywordseo="mobile-wallets" source="keywords">mobile wallets</keyword>, largely driven by UPI, which facilitates mobile payments in real-time simply by scanning <keyword id="19993724" type="General" weightage="20" keywordseo="QR-codes" source="keywords">QR codes</keyword>," GlobalData report elaborated. The report highlights that in the Asia-Pacific (APAC) region, the payment solutions such as mobile and digital wallets have displaced traditional payment methods like cash and bank transfers for e-commerce payments. The report states that such alternative payments are already immensely popular in countries like <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> and India and are also gaining traction in other APAC markets as well. However, China led the way in 2023, with alternative payments accounting for nearly two-thirds of the total e-commerce payments value in 2023 that took place in the entire Asia Pacific region. However, India is also not far behind, with a significant surge in alternative payment methods since 2018. The e-commerce analytics by the company revealed that even traditionally cash-intensive countries in APAC such as the Philippines, Malaysia, and Indonesia, are witnessing a similar trend. "While most Asian markets are traditionally cash-dominated, the adoption of alternative payment methods for both online and in-store payments is growing across many markets in the region, even outpacing the West. This trend is driven by the rising smartphone and internet accessibility, increasing convenience of electronic payments, and the proliferation of mobile and QR code-based payment solutions" said Shiv Gupta, Senior Banking and Payments Analyst at GlobalData. The report also highlights that within the Asia-Pacific region, China and India have a higher adoption rate of alternative payment methods as compared to their peers. According to the company's 2023 Financial Services Consumer Survey, alternative payment solutions account for more than 65% of the e-commerce transaction value in China, the largest e-commerce market globally. It represents a significant increase from 53.4% in 2018. Other Asian markets like Indonesia, Hong Kong, Singapore, and the Philippines are also seeing higher adoption of alternative payment solutions. "Alternative payment solutions accounts for lion share in e-commerce markets across many APAC countries, supported by rising internet and smartphone penetration, and growing acceptance of digital payments by merchants. With the convenience, speed, and security they offer, coupled with high expected growth in the overall e-commerce market in the region, these payment tools are anticipated to further gain traction and disrupt the consumer payment space in the region" said Gupta.

India's non-cash payments on e-commerce platforms surge to 58.1% in 2023

<ul><li><keyword id="1905050" type="General" weightage="100" keywordseo="solana" source="Orion">Solana</keyword> is a high-performance blockchain assisting builders globally to create crypto apps that scale. </li><li>The crypto wallets on <keyword id="14642640" type="General" weightage="20" keywordseo="solana-phantom" source="Orion">Solana- Phantom</keyword>, Software and Trust Wallet were compromised in a security breach on Thursday. </li><li><keyword id="14640012" type="General" weightage="50" keywordseo="slope-finance" source="Orion">Slope Finance</keyword> admitted that a cohort of <keyword id="4153837" type="General" weightage="80" keywordseo="slope" source="Orion">Slope</keyword> wallets were affected in the breach. </li></ul>The multi-million Solana crypto hack, that drained more than 8,000 wallets worth around $8 million, has been linked to accounts tied with the Slope mobile wallet app. Slope Finance said in a statement that a cohort of Slope wallets were compromised in the breach, advising users to create "a new and unique seed phrase wallet, and transfer all assets to this new wallet." "We have some hypotheses as to the nature of the breach, but nothing is yet firm. We feel the community's pain, and we were not immune. Many of our own staff and founders' wallets were drained," the company said late on Thursday. Solana is a high-performance blockchain supporting builders around the world creating crypto apps that scale. Solana said that after an investigation by developers, ecosystem teams, and security auditors, "it appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications". This exploit was isolated to one wallet on Solana, and hardware wallets used by Slope remain secure. "While the details of exactly how this occurred are still under investigation, private key information was inadvertently transmitted to an application monitoring service," Solana said in a tweet. There is no evidence the Solana protocol or its cryptography was compromised, it added. The attack affected "hot" wallets which are always connected to the internet, allowing people to store and send tokens easily. The attack also compromised other wallets including <keyword id="46483" type="General" weightage="50" keywordseo="phantom" source="Orion">Phantom</keyword>, <keyword id="14642639" type="General" weightage="50" keywordseo="solflare" source="Orion">Solflare</keyword> and <keyword id="14627644" type="General" weightage="50" keywordseo="trustwallet" source="Orion">TrustWallet</keyword>. Phantom, a Solana-based wallet that hit $1.2 billion in valuation earlier this year, said it's "working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem." "At this time, the team does not believe this is a Phantom-specific issue," the wallet developer said. The attack on Solana came as cryptocurrency service <keyword id="799630" type="General" weightage="50" keywordseo="nomad" source="Orion">Nomad</keyword> suffered a "chaotic" attack, with hackers draining almost $200 million in digital funds from the company within a few hours. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/meta-rolls-out-nft-support-on-instagram-to-100-countries/articleshow/93362860.cms">Meta rolls out NFT support on Instagram to 100 countries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ola-electric-may-finally-introduce-its-first-electric-car-on-august-15/articleshow/93362208.cms">Ola Electric may finally introduce its first electric car on August 15</a>

Solana hack that drained $8 million is linked to the Slope mobile wallet

New Delhi, Prime Minister Narendra Modi on Tuesday expressed hope that digital transactions will soon surpass cash with Unified Payments Interface (UPI) increasingly becoming the most preferred payment mechanism in the country. Modi after the launch of the cross-border connectivity between the UPI and PayNow of Singapore said about 74 billion transactions amounting to more than Rs 126 trillion, which is approximately 2 trillion Singapore dollar, was done through UPI in 2022. "Many experts are estimating that very soon India's <keyword id="16596261" type="General" weightage="20" keywordseo="digital-wallet-transactions" source="Orion">digital wallet transactions</keyword> are going to overtake cash transactions," he said. A large number of transactions via UPI demonstrate that this indigenously designed payment system is very secure, he said. Modi along with his Singaporean counterpart Lee Hsien Loong witnessed the launch of cross-border connectivity between the UPI and PayNow of Singapore via video conferencing. The facility was launched through token transactions by Reserve Bank of India Governor Shaktikanta Das and Managing Director of Monetary Authority of Singapore Ravi Menon using the UPI-PayNow linkage. Stressing that the linkage of UPI and PayNow is a new milestone in India-Singapore relations, Modi said, this will help people of both the countries to do cross border transactions through mobile phone in an affordable manner. Singapore is the first country with which cross-border Person-to-Person (P2P) payment facility has been launched, he said, adding, this will help the Indian diaspora in Singapore, especially migrant workers/students and bring the benefits of digitalisation and fintech to the common man through instantaneous and low-cost transfer of money from Singapore to India and vice-versa. Pointing out that the focus of the government is to promote innovation and modernisation, Modi said the Digital India programme of the government has enhanced 'Ease of Living' and 'Ease of Doing Business' and digital connectivity and has pushed financial inclusion. The Digital India programme has brought in significant reforms in governance and public service delivery. The linkage will enable users of the two fast payment systems in either country to make convenient, safe, instant, and cost-effective cross-border fund transfers using their respective mobile apps. Funds held in bank accounts or e-wallets can be transferred to or from India using just the UPI-id, mobile number, or Virtual Payment Address (VPA), the Reserve Bank of India (RBI) said in a statement. To begin with, the statement said State Bank of India, Indian Overseas Bank, Indian Bank and ICICI Bank will facilitate both inward and outward remittances, while Axis Bank and DBS India will facilitate inward remittances. For Singapore users, the service will be made available through DBS-Singapore and Liquid Group (a non-bank financial institution). More banks will be included in the linkage over time. Customers of the above participating banks can undertake cross-border remittances to Singapore using the bank's mobile banking app or internet banking. To begin with, an Indian user can remit up to Rs 60,000 in a day (equivalent to around SGD 1,000). At the time of making the transaction, the system shall dynamically calculate and display the amount in both currencies for the convenience of the user, it said. The UPI-PayNow linkage is the product of extensive collaboration between the RBI, Monetary Authority of Singapore (MAS), and Payment System Operators of both countries viz. NPCI International Payments Limited (NIPL) and Banking Computer Services Pte Ltd (BCS), and participating banks / non-bank financial institutions. This interlinkage aligns with the G20's financial inclusion priorities of driving faster, cheaper and more transparent cross-border payments and will be a significant milestone in the development of infrastructure for cross-border payments between India and Singapore, the statement said. India has emerged as one of the fastest-growing ecosystems for fintech innovation. A key emphasis of the Prime Minister has been on ensuring that the benefits of UPI are not limited to India only but extend to other countries as well. The virtual launch was preceded by a phone call between the two Prime Ministers, wherein discussions were held on areas of mutual interest. Prime Minister Modi thanked Prime Minister Lee for his partnership in taking the India-Singapore relationship forward and looked forward to working with him under India's G20 Presidency.

Digital transactions to soon exceed cash in India: PM Modi

South Korean giant <keyword id="10591" type="General" weightage="20" keywordseo="samsung" source="Orion">Samsung</keyword> will merge its mobile payment solution '<keyword id="2695669" type="General" weightage="20" keywordseo="samsung-pay" source="Orion">Samsung Pay</keyword>' and password management application 'Samsung Pass' into '<keyword id="2437504" type="General" weightage="20" keywordseo="samsung-wallet" source="Orion">Samsung Wallet</keyword>' in India on Tuesday with more exciting features. The tech giant teased from its @SamsungIndia account: "Have you marked your calendar yet? Only 1 day left for Samsung Pay's big transformation! Buckle up and watch this space to know more! T&amp;C apply." According to a video attached to the tweet, the launch of the new payment service is on January 31. 'Samsung Pay gets better, Just 1 day to go," said the tweet. According to Sam Mobile, the company will rename it as Samsung Wallet which is now ready for the Indian market. Earlier this month, the company had revealed that the new app would be launched in the country before the end of January. Samsung Wallet would also be launched in seven other markets. With the help of Samsung Wallet, users can securely store things like boarding passes, credit cards, cryptocurrency, debit cards, digital keys, identification cards, login passwords and even loyalty/membership cards. Samsung Knox, a defence-grade digital security system, protects all the data in the application. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/electronics-export-from-india-to-cross-1-28-lakh-crore-next-fiscal-mos-it/articleshow/97431539.cms">Electronics export from India to cross ₹1.28 lakh crore next fiscal: MoS IT</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms">70-plus Indian startups show exit door to 21K techies, more pink slips coming</a>

'Samsung Pay' to become 'Samsung Wallet' in India on Jan 31

Contactless payments have grown 6x in the last few years. And if there’s one player which has had a major contribution in making this possible, it’s <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword>! Paytm has a solid reach in India. With over 350 million <a href="https://www.statista.com/statistics/1034520/india-digital-payments-user-base-by-company/#:~:text=Paytm%2C%20with%20over%20350%20million,user%20base%20of%20118%20million.">active users</a>, out of which 39 million are <a href="https://findly.in/paytm-users-in-india/">daily active users</a>, the company has established itself as the leading payments company in India. <cmsannotation type="cmsannotation" annotationid="Easy Money Transfer with Paytm Wallet" comment="subhead" text="Easy Money Transfer with Paytm Wallet"><keyword id="14338023" type="General" weightage="50" keywordseo="easy-money-transfer" source="Orion">Easy Money Transfer</keyword> with <keyword id="3032681" type="General" weightage="80" keywordseo="paytm-wallet" source="Orion">Paytm Wallet</keyword></cmsannotation> Paytm offers its users ease of payment and money transfer in a number of ways. One of these is the “Add Money” feature. Instead of transferring money through IMPS, NEFT or RTGS, Paytm lets you make instant payments that reach the receiver’s account immediately. The simple requirement is to have money in the Paytm Wallet. <cmsannotation type="cmsannotation" annotationid="Automatic Money Add to Paytm wallet" comment="subhead" text="Automatic Money Add to Paytm wallet">Automatic Money Add to Paytm wallet</cmsannotation> A big offering of Paytm that makes its user’s life convenient is the ‘<a href="https://paytm.com/paytmmp://cash_wallet?featuretype=money_transfer" data-type="tilCustomLink" target="_blank">automatic add money</a>’ option. This feature enables a user to set a specific amount as a minimum balance in the Paytm wallet. When that minimum amount is reached, the wallet will be automatically recharged with a set amount. The user can also easily set this recharge amount according to their preference. For example, if you want to maintain a minimum balance of Rs. 1000 in your wallet at all times, you can utilise the automatic add money feature to add Rs. 2000 to your wallet. This way, whenever your account balance reaches Rs. 1000, Rs. 2000 will be added to your wallet. With money being added automatically, the user does not need to worry about being short on balance or topping up the Paytm wallet at the time of making the payment. <cmsannotation type="cmsannotation" annotationid="How to set up the “Automatic wallet top-up” feature?" comment="subhead" text="How to set up the “Automatic wallet top-up” feature?">How to set up the “Automatic wallet top-up” feature?</cmsannotation> For Paytm users who make regular money transfers through the app, setting up this feature will be quick and easy. Follow the steps below: <ol><li>Open the Paytm app</li><li>Now, tap on the profile icon in the top left</li><li>Select “Payment settings” option </li><li>Choose the “Automatic Payments &amp; Subscriptions” option</li><li>Select the “Add Money” option present in the middle </li><li>Enter the threshold amount. This would indicate that whenever your Paytm wallet reaches this amount, money will automatically be added to it. </li><li>Click on the amount you want to top up with each time you reach the above threshold amount. </li><li>Tap on the “Proceed” button at the bottom. </li><li>Next, select an option to pay. Choose an option from the many options available. This will be the source from which the amount will be automatically deducted. </li></ol>You’re all done in less than five minutes! <cmsannotation type="cmsannotation" annotationid="Why to Use the Automatic Add Money Feature" comment="subhead" text="Why to Use the Automatic Add Money Feature">Why to Use the Automatic Add Money Feature</cmsannotation> Since the app supports all major payment instruments, you can choose your preferred option for adding money to the Paytm wallet when turning on the automatic money add feature. The money can be added through UPI and <keyword id="3236791" type="General" weightage="50" keywordseo="paytm-payments-bank" source="Orion">Paytm Payments Bank</keyword>. What’s more, no charges are levied for adding money to your wallet from any of these options! The automatic money add feature comes in handy for making monthly recurring payments. Some of these include prepaid mobile phone recharges, gas cylinder bookings, electricity bill, credit card payments, water bill, etc. If you avail this option, your bill will be automatically paid for you as soon as it is generated or within 3 days before the due date. Through the automatic add money feature, you never default on your bill payments, thereby saving money on late fee and default charges. The user is notified of the bill being automatically paid through SMS, email and app notifications. With <a href="https://paytm.com/paytmmp://cash_wallet?featuretype=money_transfer" data-type="tilCustomLink" target="_blank">Paytm Wallet</a> , you can make superfast payments without worrying about running out of money. Paytm maintains the balance for you, and lets you remain carefree! Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Adding money to your Paytm wallet can’t get easier than this

Best Samsung mobile under ₹20000

A <keyword id="11517893" type="UNKNOWN" weightage="20" keywordseo="compact-wallet">compact wallet</keyword> with ample space is all that you need to carry your cards and money safe. <keyword id="727091" type="PERSON" weightage="20" keywordseo="wallets">Wallets</keyword> allow you to keep your <keyword id="515066" type="PERSON" weightage="20" keywordseo="Essentials">essentials</keyword> well-organised and are easy for carrying. Wallets complement your outfits to add grace. They not only offer an appealing appearance but also provide significant functionality. Here are some of the wallets which can help you keep your essentials safe. <bulletContentEmbed name="B071SJBYVW" columns="1"><bulletContentHeading name="B071SJBYVW_head"><div type="image" title="Zip closure" msid="83867514" hostid="261"></div></columnHeadThumb>B071SJBYVW</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B071SJBYVW_body"><bulletContentRow name="B071SJBYVW_3640542686558658"><bulletContentRowHeading><bulletContentRowHead col="1">Elios Long Black PU Leather Wallet for Women</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Upgrade your style and make this wallet complement your outfits. This wallet from Elios claims to be made from PU material with zip closure. It has multiple compartments that should make you carry your essentials in an easy and organized manner. Also, it is said to have slots for keeping cards and photos.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B071SJBYVW_5816447822417812"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The wallet is said to be made of high-quality PU material and should become your favourite choice.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B019ZBVC92" columns="1"><bulletContentHeading name="B019ZBVC92_head"><div type="image" title="Compact Size" msid="83867526" hostid="261"></div></columnHeadThumb>B019ZBVC92</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B019ZBVC92_body"><bulletContentRow name="B019ZBVC92_3878518123600213"><bulletContentRowHeading><bulletContentRowHead col="1">Urban Forest Tina Ladies Leather Wallet</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This wallet from Urban Forest claims to be made by the manifestation of contemporary style and imperishable craftsmanship. It provides you with ample storage sections to keep your essentials safe and organised. The compact design and apt size should allow you to carry and use it with no hassle. The soft and firm touch of premium quality leather should make this wallet durable and a great option to consider.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B019ZBVC92_2900179756839774"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The compact size and lightweight makes it <keyword id="4703131" type="PERSON" weightage="20" keywordseo="easy-to-carry">easy to carry</keyword>.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B01BYIFS6M" columns="1"><bulletContentHeading name="B01BYIFS6M_head"><div type="image" title="Multicoloured Design" msid="83867533" hostid="261"></div></columnHeadThumb>B01BYIFS6M</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B01BYIFS6M_body"><bulletContentRow name="B01BYIFS6M_4194899420523152"><bulletContentRowHeading><bulletContentRowHead col="1">ShopMantra Canvas Vector Tribal Ethnic Pattern Women's Wallet</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This multicoloured wallet by ShopMantra has a tribal ethnic pattern which should make it attractive in look. The size of the wallet should make it easy to keep in a handbag without compromising its utility and style. The wallet features canvas material on the outside and faux leather material on the inside. Its multiple compartments are said to provide ample space to keep your essentials safe.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B01BYIFS6M_0283785273486787"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The wallet helps you keep your essentials well organized.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B01MXTNRK1" columns="1"><bulletContentHeading name="B01MXTNRK1_head"><div type="image" title="Snap Closure" msid="83867551" hostid="261"></div></columnHeadThumb>B01MXTNRK1</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B01MXTNRK1_body"><bulletContentRow name="B01MXTNRK1_3046922614065227"><bulletContentRowHeading><bulletContentRowHead col="1">WOMEN MARKS Cream Polyurethane Women's Wallet</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Carry all your essential cards and money in a minimalistic manner with this wallet by Women Marks. Its beige colour and simple style should allow you to complement your outfits with it. The wallet ensures you with ample space to keep necessary items in it. Compact size and snap closure should make it easy to use and carry.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B01MXTNRK1_4882757726120616"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The wallet helps you complement your outfits and adds grace.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B07JPJTC95" columns="1"><bulletContentHeading name="B07JPJTC95_head"><div type="image" title="Sleek Design" msid="83867586" hostid="261"></div></columnHeadThumb>B07JPJTC95</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07JPJTC95_body"><bulletContentRow name="B07JPJTC95_3377899448103504"><bulletContentRowHeading><bulletContentRowHead col="1">FUR JADEN Women's Leather Stylish Long Ladies Wallet</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This sleek and slim designed wallet by Fur Jaden features multiple compartments and slots to keep your essential items in it. The PU leather material makes it durable and lightweight making it easy to carry. The zipper and button lock feature should ensure the safety of your items. It is said to have a separate compartment to keep your mobile phone.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07JPJTC95_5473068569051471"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The long and slim design makes you carry the wallet in hand with style.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B07R5FXVQD" columns="1"><bulletContentHeading name="B07R5FXVQD_head"><div type="image" title="Two-fold" msid="83867605" hostid="261"></div></columnHeadThumb>B07R5FXVQD</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07R5FXVQD_body"><bulletContentRow name="B07R5FXVQD_8122945985397656"><bulletContentRowHeading><bulletContentRowHead col="1">Fostelo Grey Satin Women's Fold Wallet</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This two-fold wallet by Fostelo should help add sophistication by complementing your clothes with its stylish look. It is made from PU material and stitched borders. The contrasting coloured look with ample storage space and its sleek design should make it a great option to carry it all day.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07R5FXVQD_0960408526394099"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The sleek design makes it convenient to carry all day.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Best wallets for women in India

<ul><li>With Diwali festivities just around the corner, digital payment platforms such as <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, PayTm and Google Pay are luring Indians with smart investment option — <keyword id="4465249" type="PERSON" weightage="20" keywordseo="digital-gold">digital gold</keyword>. </li><li>Mobikwik has launched a festive exchange which will allow converting 1 gram of digital gold in exchange for the gold jewellery. It will also add 1 gm of digital gold in buyer’s account. </li><li>The offer is valid between October 23 and 28, 2019. </li><li>Digital gold can be bought in quantities as low as ₹1.</li></ul>With Diwali festivities around the corner, digital payment platforms such as Mobikwik, PayTm and Google Pay are luring Indians with smart investment options — digital gold. With gold soaring a six year high this Diwali, there isn’t much of a rush to buy gold. Jewellers too are trying to attract buyers with promotional offers. Meanwhile, Mobikwik launched a festive exchange, in partnership with SafeGold. SafeGold is a joint venture between Invent Capital, a private equity firm, and <keyword id="113718" type="ORGANIZATION" weightage="20" keywordseo="World-Gold-Council">World Gold Council</keyword>. The ‘exchange one get one’ offer will allow converting 1 gram of digital gold in exchange for gold jewellery. Additionally, it will add 1 gm of digital gold in buyer’s account. The offer is valid between October 23 and 28, 2019. “Indians have always had a passion for buying gold, particularly on auspicious occasions. Demand for gold is interwoven with culture, tradition, and planning for financial protection in times of crisis,” Upasana Taku, Co-founder, MobiKwik<a href="https://www.zeebiz.com/personal-finance/news-planning-to-buy-gold-on-diwali-this-platform-is-giving-double-than-what-you-pay-for-112891"> told </a>Zee Business. ‘Digital gold’ is the buying and selling of gold via mobile wallets and digital platforms. From gold coins and bars to gold jewellery, the platforms offer gold in digital form. The digital method allows one to buy 99.9% 24 karat gold. And it can be bought in quantities as low as ₹1 or grams digitally — which can be redeemed at a jewellery or gold store. However, the prices of digital gold are highly volatile. So, the price is valid for merely 6 minutes. Users can buy digital gold via online wallets and store it in online accounts — which are linked to Gold Accumulation Plan (GAP). While the <a href="https://www.business-standard.com/article/pf/digital-gold-a-convenient-investment-method-or-a-ponzi-scheme-in-making-119041800720_1.html">prices of gold</a> may vary between 4%-5% on the retail price of gold from the actual price, the price variation on digital gold is said to vary between 1.5% to 2%. It can be kept for a maximum of five years and there is no extra storage cost. Ever since the launch, the digital gold market has seen strong growth. It estimated over 80 million people who had digital accounts as of March 2019. See also: <a href="https://www.businessinsider.in/business/startups/news/diwali-sales-snapdeal-launches-an-online-store-for-dhanteras-will-sell-gold-coins/articleshow/71704385.cms">Snapdeal launches an e-store for Dhanteras – with gold, silver coins and more</a> <a href="https://www.businessinsider.in/google-pays-new-tactic-to-take-on-rivals-paytm-phonepe-in-india-introduces-digital-gold-offerings/articleshow/68609832.cms">Google Pay wants to offer Indians their favourite investment option – gold</a>

Can’t afford gold coins or jewellery this Diwali? You can now buy gold worth ₹1

<ul class="summary-list"><li>I wrote last week about what it was like buying my first NFT on OpenSea.</li><li>It took about seven big steps to finally secure a cartoon pig, which now serves me nothing.</li></ul>Earlier this month, <a href="https://www.businessinsider.com/how-to-buy-nfts-on-opensea-2022-3">I bought an NFT on OpenSea</a>, the largest online marketplace for buying and selling digital assets.I wrote about how arduous the process was and how long it took me when starting from scratch. For the uninitiated, here's a rundown of the steps: 1. Buy ether on Coinbase.2. Set up a digital wallet (I used Coinbase Wallet.)3. Wait a week before I could use the ether outside of Coinbase.4. Connect my Coinbase Wallet to OpenSea.5. Realize you can't buy <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> on OpenSea's mobile app; launch on a laptop.6. Pick out an NFT.7. Buy more ether on Coinbase to cover OpenSea's gas fees; finally buy the NFT.Now to be fair, I'd imagine the majority of users participating in this space already own <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> and have a digital wallet. But not me, meaning that many other ordinary people who are unfamiliar with this space would likely also go through the same thing I did. So why is there so much friction in the NFT market? And how does that bode for them ever reaching mass adoption? I turned to an expert. I told <a href="https://www.linkedin.com/in/nickcasares/">Nick Casares</a> — the head of product at <a href="https://www.polyientx.com/#Learn-more">PolyientX</a>, a company that builds tools for NFT developers —which provides NFT communities with tools — about my experience and asked him if there was an easier way I could have gone about this. He told me no: I took the fastest, most straightforward open market option. "It's not an easy process," Casares told me. "There are too many hurdles for a consumer to go through to pick up an NFT."(There are other platforms that let you buy NFTs directly with a credit card, but that means your ownership of the asset isn't secured on the <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword>, so it's a little different.)Casares said there are a few layers to this, including making crypto and crypto wallets more accessible. That might come with integrating the digital asset in popular apps like PayPal, Stripe, or Shopify. The idea of a digital wallet is a bit counterintuitive and may not make sense to everyone at first. Casares had a good way of explaining it, though: think of it as a gateway to Web3 and a way to interact with NFTs.It's also still a bit hard for the average person to wrap their head around the concept of a digital asset. But that's slowly changing, especially after <a href="https://markets.businessinsider.com/news/currencies/coinbase-super-bowl-qr-code-commercial-website-crash-traffic-crypto-2022-2">crypto ads dominated commercial breaks</a> during Super Bowl and ultra-expensive ones selling at famous auction houses captured headlines last year. But there's a lot of contention swirling.Critics say NFT's are a hyped-up crypto trend with no real value, while proponents say they're a great way to build community and give power to not only creators but also to whoever buys them. (A huge aspect of decentralized tech is giving participants a say in decision-making within a certain project.)It's also worth noting that enthusiasm for cryptocurrency and other Web3 technologies like NFTs don't always go hand-in-hand. I wrote previously about crypto fans like <a href="https://www.businessinsider.com/elon-musk-jack-dorsey-crypto-dont-like-web3-nfts-metaverse-2022-2">Elon Musk and Jack Dorsey's disdain for both NFTs</a> and the future AR and VR-centric evolution of the internet: the metaverse.And even <a href="https://time.com/6158182/vitalik-buterin-ethereum-profile/">Ethereum co-founder Vitalik Buterin told Time</a> that he and many others <a href="https://www.businessinsider.com/ukraine-appeals-for-cryptocurrency-donations-in-tether-ether-bitcoin-2022-2">are donating cryptocurrency to Ukraine </a>as the nation fights an unprovoked attack from Russia. It's a real-world use case for digital currencies that doesn't involve people spending <a href="https://markets.businessinsider.com/news/currencies/bored-ape-yacht-club-nft-sales-1-billion-opensea-bayc-2022-1">a collective $1 billion on cartoons of bored apes.</a>"One silver lining of the situation in the last three weeks is that it has reminded a lot of people in the crypto space that ultimately the goal of crypto is not to play games with million-dollar pictures of monkeys, it's to do things that accomplish meaningful effects in the real world," he said.

It took me 7 steps over the course of a day to buy an NFT, showing just how hard it'll be for the market to go mainstream.

New Delhi May 26 (IANS) The number of transactions done on mobile wallets in Q1 2020 was 1.08 billion and the value of transactions was Rs 429 billion in India, recording about four per cent drop in volume and about six per cent drop in value over Q1 2019, a report said on Tuesday. However, Unified Payments Interface (UPI) recorded a substantial transaction volume of 3.87 billion in Q1 2020, an increase of 81 per cent from a year ago, said the report from payments company Worldline India. In terms of value, UPI facilitated transactions worth Rs 6.45 trillion, up 84 per cent from the previous year, according to the report titled "India Digital Payments Report - Q1 2020". Five banks joined the UPI ecosystem in Q1 bringing the total number of banks providing UPI services to 148 as of March 2020. The data showed that in Q1 2020, there were 4,251.73 million mobile apps based transactions and 811.61 million net banking / Internet browser based transactions. In terms of value, mobile apps based payment channels processed transactions worth Rs 15,674.12 billion and net banking / Internet browser based transactions facilitated transactions worth Rs 94,580.39 billion. It is evident that consumers prefer mobile apps frequently for small ticket size transactions and net banking / browser based channels for high ticket size transactions, said the report. In Q1 2020, the total credit card transactions volume was 553.87 million. The total value of transactions processed through credit cards was Rs 1,792.94 billion. Debit card transactions volume and value in Q1 2020 was 1,273.40 million and Rs 2,300 billion respectively. "As social distancing, work from home, online meetings etc. become part of our daily routine, we will likely see an increase among consumers wanting to spend cashless," said Deepak Chandnani, Managing Director, Worldline South Asia &amp; Middle East. "With over 886 million cards, 5 million POS terminals and solutions like UPI, FASTags etc. gaining momentum, our country has the potential to empower consumers with contactless solutions." Worldline India said the report is based on analysis of transactions available in public databases as well as transactions processed by the company in the January-March period of this year. --IANS gb/na

Mobile wallets Q1 transactions volume drops 4% in India: Report

Popular <keyword id="6358921" type="ORGANIZATION" weightage="20" keywordseo="upi">UPI</keyword> and <keyword id="490792" type="PERSON" weightage="20" keywordseo="Mobile-wallet">mobile wallet</keyword> app PhonePe was launched in 2016 and has come a long way since then. It is no longer only a wallet app and now offers several functions including ordering food, fee payment,<a href="https://www.businessinsider.in/tech/apps/how-to/buy-sell-gold-phonepe/articleshow/73520605.cms"> gold purchase</a> and more. PhonePe recently added a new feature that will allow users to withdraw cash from their bank accounts without using a card. The <keyword id="8639344" type="UNKNOWN" weightage="20" keywordseo="phonepe-atm">PhonePe ATM</keyword> is a digital ATM wherein the company has partnered with merchants to allow users to withdraw cash. The PhonePe ATM feature was introduced earlier this month and is still being rolled out. It is to be noted that this service is completely free, and the user will not be charged anything for using this service. The withdrawal limit will depend on the limit set by your respective bank. How to withdraw cash from PhonePe ATM 
 
 
 
 <div type="image" title="PhonePe ATM cash" msid="73904470" hostid="261"></div>









 <ul><li>Open the PhonePe app on your device.</li><li>At the bottom, click on the ‘Stores’ tab.</li><li>Now, click on the ‘PhonePe ATM’ icon.</li><li>Then, click on ‘Withdraw now’.</li><li>Select a store from the available stores’ and then click on ‘Withdraw Cash’.</li><li>Now, in the currency box, enter the amount you want to withdraw.</li><li> Select the bank account from which you want to debit or withdraw the money.</li><li>Now, click on ‘Pay to Withdraw’ and enter your PIN.</li><li>Now, go to the store that you had selected and collect the cash.</li></ul>Commenting on the launch of the PhonePe ATM service, Vivek Lohcheb, head of offline business development, PhonePe said, “The PhonePe ATM allows customers to withdraw cash without any hassle through our trusted merchant partners. It also helps merchants avoid the hassle of storing cash and making multiple trips to the bank branch to deposit their extra cash.” According to<a href="https://www.businessinsider.in/advertising/brands/article/phonepe-is-looking-at-bharat-for-its-next-phase-of-growth/articleshow/72295764.cms"> a press release</a>, PhonePe has over 9 million registered partners across 300 cities in India. It also has over 185 million registered users, out of which 66 million are<a href="https://www.businessinsider.com/google-pay-adds-features-to-court-indian-merchants-2019-9"> reported</a>ly active. With widespread acceptance across merchants, PhonePe ATM has the potential to become a bridge between users as well as the merchants who wish to save a visit to the bank for cash deposits. Increased footfalls in merchant stores could also help them generate sales from PhonePe ATM users, making it a win-win for all the parties involved. See also: <a href="https://www.businessinsider.in/tech/how-to/recharge-fastag-phonepe-google-pay-bhim/articleshow/73485125.cms">How to recharge your FASTag using PhonePe, Google Pay and BHIM</a> <a href="https://www.businessinsider.in/tech/apps/how-to/buy-sell-gold-phonepe/articleshow/73520605.cms">How to buy and sell gold on PhonePe</a>

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