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Issues related to data privacy and rising <keyword id="20127272" type="General" weightage="20" keywordseo="online-frauds" source="keywords">online frauds</keyword> are emerging as significant hurdles in the growth of e-commerce in India, said the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Citing third-party data, the survey said that the e-commerce industry in India is expected to cross USD 350 billion by 2030 and called for the need to educate users on the safe use of e-commerce platforms. "The rise of e-commerce is constrained by inadequate skills required for online selling, such as cataloguing. <keyword id="22505774" type="General" weightage="20" keywordseo="data-privacy-issues" source="keywords">Data privacy issues</keyword> and increasing online fraud have turned out to be the most significant hurdle in the growth of e-commerce in India. It becomes imperative to educate users on the safe use of e-commerce platforms," the survey said. The survey mentioned that India's e-commerce market has gained significant momentum during the past few years, owing to technological advancements, evolving new-age business models coupled with government initiatives like the Digital India program, UPI, One District - One Product (ODOP), Open Network for Digital Commerce (ONDC), new foreign trade policy, easing of FDI limits and Consumer Protection (E-Commerce) (Amendment) Rules 2021. It has identified data privacy and <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">cybersecurity</keyword> as critical concerns in the <keyword id="22505776" type="General" weightage="20" keywordseo="digitisation-of-services" source="keywords">digitisation of services</keyword> in the country and called for adopting strong security measures, compliance with privacy regulations, and innovation, among others. "Data privacy and cybersecurity have become critical concerns with the increasing digitisation of services," according to the survey. It said that the government is spearheading data protection laws and cybersecurity policies to safeguard consumer data and strengthen cybersecurity measures in the services sector. "To further embrace technology with confidence, ensuring the adoption of strong security measures, compliance with privacy regulations, and fostering innovation in security technologies are essential," the survey noted. It said the future of e-commerce is built on the enhanced <keyword id="20290101" type="General" weightage="20" keywordseo="user-experience" source="keywords">user experience</keyword> through <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>, seamless <keyword id="21332958" type="General" weightage="20" keywordseo="digital-payment-methods" source="keywords">digital payment methods</keyword>, innovations like UPI, and business engineering data analytics for business operations and enhancements. The survey mentioned that the buyer ecosystem in India is evolving at a very sharp rate, and business models will need to innovate to serve the needs of a diverse shopper base regarding service expectations, price sensitivity and language requirements. "Local language platforms are needed as the shopper base expands to tier-2 and tier-3 cities. Growing startups and innovative social media platforms provide an opportunity to test unique business models that might be targeted to specific demographic cohorts," the survey said.

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

With <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> adoption fast gaining currency, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is likely to see <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> double to USD 7 trillion by 2030 from current levels, a study by Kearney and <keyword id="19942875" type="General" weightage="20" keywordseo="Amazon-Pay" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon Pay" meta.hostid="153" meta.entityid="Amazon Pay">Amazon Pay</keyword> said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in <keyword id="21056201" type="General" weightage="20" keywordseo="online-purchases" source="keywords">online purchases</keyword> has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. "<keyword id="19955338" type="General" weightage="20" keywordseo="millennials" source="keywords">Millennials</keyword> and Gen X are leading in the adoption of all types of digital payment instruments," it said. "Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity." The research was based on an online survey of over 6,000 consumers along with more than 1,000 merchants through offline and online methods across 120 cities with representation from various regions, income groups, city categories, age brackets and genders. India has seen a surge in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, with the market valued at USD 75 billion to USD 80 billion in 2022 and expected to grow at a 21 per cent CAGR until 2030. "In line with India's digital journey, retail digital payments have grown dramatically over the past five years - from USD 300 billion in FY18 to USD 3.6 trillion in FY24. By FY30, they are likely to double to USD 7 trillion," the report said. The Unified Payments Interface (<keyword id="19900911" type="General" weightage="100" keywordseo="UPI" source="keywords">UPI</keyword>) has been a key driver of this growth, demonstrating a CAGR of 138 per cent in its volumes during FY18-24. Other instruments such as cards and digital wallets are also gaining in popularity, contributing 10 per cent of digital transaction value today. "With such dynamic developments, it is no wonder that India is a global frontrunner in the digital payment landscape, accounting for a stellar 46 per cent of the global digital transaction volumes in 2022," it said. Digital payments have penetrated small towns, with respondents in these areas highlighting that 65 per cent of their transactions are digital, while respondents in larger cities cited this ratio to be 75 per cent. "There is a strong correlation between a city's average DDPU and its retail potential, as measured by the Kearney India Retail Index, with the top six metros displaying both high DDPU and high retail potential," the report said. DDPU surpasses retail potential in some cities such as Lucknow, Patna, Bhopal, Jaipur, Bhubaneswar, Indore, Ahmedabad and Pune, which have a high DDPU nearly matching that of larger metropolitan cities despite having a lower retail potential than the top six metros. The report said co-branded credit cards are gaining momentum. "Emerging methods such as buy now, pay later (BNPL), wearable payments and voice assistant-based payments are also starting to make inroads." Digital modes of payment constitute around 69 per cent of the total transaction volumes for the Indian merchants that were surveyed. Even street vendors such as paan shops, fruit and flower sellers, food stalls, and kirana stores are joining the digital payment brigade. "Challenges for merchant adoption mirror consumer concerns, emphasizing issues of financial fraud, limited connectivity and trust," it said. The report said the next wave of growth in digital payments will be fueled by increasing penetration in segments with lower DDPU, such as consumers in lower-income groups and smaller towns, along with enhancing the value of spending via digital modes of payment in the higher DDPU segments by addressing their concerns. "All key stakeholders across the digital payments' ecosystem, including payment providers, the government, and value-added services players, will need to play a part in expanding digital payment adoption," it said. The focus areas should be empowering communities with financial education by launching target programmes to boost awareness of digital payments and new methods such as UPI Lite and UPI Lite X, especially for aspiring consumer segments, women in small towns, and street commerce merchants, to encourage higher adoption. Also, there is a need to create user-friendly consumer journeys by streamlining documentation and know-your-customer (<keyword id="19910870" type="General" weightage="20" keywordseo="kyc" source="keywords">KYC</keyword>) processes, optimising user interfaces, and establishing responsive customer complaint resolution mechanisms, it said adding also there is a need to enhance digital infrastructure by addressing systems and network issues and exploring innovations such as UPI Lite X for areas with limited internet. Also, the risk of fraud has to be minimised and access to credit-based payment methods expanded by using alternate data for underwriting risk, developing innovative credit products and promoting credit education for financial health. "These areas can help India overcome challenges in the digital payment ecosystem by fostering a more inclusive, secure, and user-friendly environment, thereby enhancing the adoption of digital payments among consumers and merchants in India," it added.

India to see retail digital payments to double to USD 7 tn by 2030: Report

The e-commerce market in India is projected to increase significantly to over USD 300 billion by 2030 as the country's <keyword id="20107419" type="General" weightage="20" keywordseo="digital-economy" source="keywords">digital economy</keyword> is set to reach a whopping USD 1 billion by the same year. According to <keyword id="19918506" type="General" weightage="20" keywordseo="Invest-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Invest India" meta.hostid="261" meta.entityid="Invest India">Invest India</keyword>, India's online shopper base will be the 2nd largest globally by 2030, with nearly 500-600 Mn shoppers. Even now, India has the 2nd largest Internet user-base globally with 881 million users. India is moving towards becoming a dominant force in global e-commerce by 2030, driven by a growing digital economy and an expanding internet user base. The data from the investment promotion and facilitation agency Invest India from shows India taking the lead in <keyword id="19957108" type="General" weightage="20" keywordseo="online-shopping" source="keywords">online shopping</keyword>, the e-commerce sector in India is valued at USD 70 billion at present. This makes up for just around 7 percent of the total retail market in the country. However, several factors are likely to contribute a bright future outlook for the sector. <cmsannotation type="cmsannotation" annotationid="Growing internet penetration and digital economy" comment="subhead" text="Growing internet penetration and digital economy">Growing <keyword id="20707509" type="General" weightage="20" keywordseo="internet-penetration" source="keywords">internet penetration</keyword> and digital economy</cmsannotation> Internet penetration across has seen substantial growth, with over 60% of the Indian population (918 million) using the internet by September 2023. Further, an estimated 87 percent of Indian households are projected to have internet access as early as 2025. The time spent accessing the internet via mobile devices has also increased by 21 percent compared to 2019. The affordability of data prices in India is a key factor, with one gigabyte of data priced at around USD 0.17 (Rs 13.5), encouraging a large portion of the population to go online. <keyword id="21457667" type="General" weightage="20" keywordseo="mobile-data-traffic" source="keywords">Mobile data traffic</keyword> has tripled from 2018 to 2023, demonstrating the growing dependence on <keyword id="19979951" type="General" weightage="20" keywordseo="digital-platforms" source="keywords">digital platforms</keyword> for diverse requirements. It is projected that by 2026, 1.18 billion people across the country will have access to smartphones, over 80% of India's population. The increasing number of smartphone users along with higher average data consumption per user, boosts the digital economy. The Unified Payments Interface (UPI) has become a major player in digital payments, handling transactions worth USD 1.5 trillion in 2022. There has been a significant increase in the availability of local language and mobile-first content, with about 73 percent of India's internet users utilizing Indian languages. As a result, there is an estimated regional language user base of 540 million, creating a market worth USD 53 billion. Digital infrastructure like UPI, eKYC, and Aadhaar has cut down the consumer onboarding time by 80 percent, enhancing the digital experience. The Open Network for Digital Commerce (ONDC) is another notable initiative by the Government of India, launched in 2022. It aims to provide equal opportunities to MSMEs to thrive in digital commerce and democratize e-commerce. <cmsannotation type="cmsannotation" annotationid="A transition along with growth" comment="subhead" text="A transition along with growth">A transition along with growth</cmsannotation> In FY 2022-23, Government e-marketplace (GeM) registered its highest ever Gross Merchandise Value of $2011 Bn, shows data from Invest India. The projected growth in online shoppers in India is substantial, with a compound annual growth rate (CAGR) of 22 percent to 88 million in rural India and 15 percent to 263 million in urban India from 2019 to 2026. There is a notable transition towards rural-focused value e-commerce, with more than 60 percent of demand anticipated to come from tier 2-4 towns and rural India by 2026. Government programs such as the National Logistics Policy are designed to streamline deliveries to remote areas, improving the efficiency and cost-effectiveness of logistics. The quick commerce market in India's hyperlocal mobility sector is also projected to grow exponentially to achieve a market size of USD 5.5 billion by 2025. Leading companies like Swiggy and Zomato are at the forefront of the market, while startups like Zepto are also gaining substantial market share. <keyword id="20873923" type="General" weightage="20" keywordseo="social-commerce" source="keywords">Social commerce</keyword>, a new trend that uses social networks and digital media to connect buyers and sellers, is also projected to achieve a market size of USD 70 billion by 2030, with small video applications gaining significant popularity. Significant mergers and acquisitions have been observed in the e-commerce sector, with companies such as Zomato and PhonePe making strategic decisions to enhance their positions. Government schemes like Jan Dhan Yojana, BharatNet Project, and the implementation of Goods &amp; Service Tax (GST) have been instrumental in shaping India's digital economy. (With inputs from ANI)

India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030

The long-promised <a target="_blank" href="https://www.businessinsider.com/club-penguin-died-disney-and-money-destroyed-a-community-2020-1">digital apocalypse</a> has finally arrived, and it was heralded by a blog post.Published on July 18, the post's headline sounded pretty arcane. "Google URL Shortener links will no longer be available," it declared. I know, I know — not exactly an <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-cybertruck-apocalypse-inequality-2023-12">attack of alien zombies</a> from the death dimension. But the news nevertheless freaked me out. It means another swath of the web is <a target="_blank" href="https://www.businessinsider.com/millennials-childhood-internet-gone-club-penguin-neopets-webkinz-nostalgia-2024-8">about to disappear</a>.Here's the gist: <a target="_blank" href="https://www.businessinsider.com/why-google-killed-google-reader-2013-6">Google used to have an online service</a> that generated pithy, user-friendly versions of long, commercially unwieldy uniform resource locators — the key addresses that identify everything on the web. Shorter URLs are easier to track and better for online commerce. Google stopped shortening addresses back in 2019, but the concise URLs it had already created kept right on doing their job. Click on one and it would take you to the right webpage, <a target="_blank" href="https://www.businessinsider.com/how-internet-works-infrastructure-photos-2018-5#in-the-most-basic-sense-the-internets-job-is-to-carry-information-from-point-a-to-point-b-1">the way it's supposed to</a>.No more. In the <a target="_blank" href="https://developers.googleblog.com/en/google-url-shortener-links-will-no-longer-be-available/">blog post</a>, Google announced that as of next year, all of the existing shortened URLs are getting turned off. Poof. And on the web, if your URL doesn't work, you might as well not exist. You are unreachable. Without laborious renaming, everything behind those links — billions of them, a decade of digital content — will become inaccessible. Gone. Ask not for whom the <a target="_blank" href="https://www.businessinsider.com/guides/tech/what-is-a-404-error">404 message</a> tolls.Now, rendering a bunch of web content invisible isn't the end of days. Not by itself. The problem is, this kind of thing keeps happening. And it's getting worse. <a target="_blank" href="https://www.businessinsider.com/social-media-dead-instagram-tiktok-bereal-replaced-group-chats-messaging-2023-8">Social networks</a> go bankrupt. <a target="_blank" href="https://www.businessinsider.com/gen-z-most-trusted-news-source-online-comment-sections-google-2024-6">Digital journalism sites</a> close up shop. Companies pull their online products. Links rot. Files get not found. The cloud, as wags have noted, is really just "someone else's computers." And when clouds get turned off, not even the silver lining is left to tell the tale.Maybe none of this matters much right now. But it will. The internet has become the default archive of our history and culture. And the whole thing is burning down before our eyes, like the Library of Alexandria — only worse. For the first time since people started carving letters into rocks, we're making a time with no history. We're about to enter the Digital Dark Ages.Attempts to quantify the scope of the problem are heartbreaking. <a target="_blank" href="https://harvardlawreview.org/forum/vol-127/perma-scoping-and-addressing-the-problem-of-link-and-reference-rot-in-legal-citations/">Half of links in US Supreme Court decisions</a> no longer lead to the information being cited. A report in 2021 found that <a target="_blank" href="https://ssrn.com/abstract=3833133">a full quarter of the more than 2.2 million hyperlinks</a> on The New York Times website were broken. Even worse, the Pew Research Center estimates that <a target="_blank" href="https://www.pewresearch.org/data-labs/2024/05/17/when-online-content-disappears/">a quarter of everything put on the web</a> from 2013 to 2023 is inaccessible — meaning almost 40% of the web as it existed in 2013 is simply not there today, a decade later.The degradation of those links wouldn't panic me so much if they hadn't replaced what came before them — if museum storerooms and dusty library stacks still served as the warehouses of our collective memory. It's not that I miss the days of wrangling with old newspapers preserved on microfiche, or trying to sweet-talk a librarian into an international interlibrary loan. I'm glad lots of old movies are streaming and many out-of-print books are only a few clicks away. But archives and databases are more than places to keep old stuff; what we save defines who we are. Today, so much of everything is only digital that when it disappears, it leaves a hole in our shared culture.Gawker is gone. So is the archive of The Awl, the beloved culture-criticism site. You can go to a library and read the entire output of long-dead newspapers like the Los Angeles Herald Examiner or New York Newsday, but God help you if you want to read old Vice articles. Shenanigans over the ownership of what used to be Paramount have resulted in the deletion of decades' worth of shows on MTV and Comedy Central.The <a target="_blank" href="https://slate.com/technology/2024/08/david-zaslav-warner-bros-discovery-culture-deleting-movies-tv-shows.html">Cartoon Network archive</a> is gone. So are <a target="_blank" href="https://www.washingtonpost.com/technology/2019/12/11/these-crusaders-want-preserve-human-culture-online-their-latest-target-yahoo-groups/">Yahoo Groups</a>, <a target="_blank" href="https://cinema.usc.edu/spectator/43.1/01_Rudenshiold.pdf">Yahoo Answers</a>, <a target="_blank" href="https://www.engadget.com/imgur-to-ban-explicit-images-and-delete-uploads-not-tied-to-an-account-122537118.html">big chunks of the Imgur photo service</a>, the <a target="_blank" href="https://www.eff.org/deeplinks/2018/12/dear-tumblr-banning-adult-content-wont-make-your-site-better-it-will-harm-sex">spicy parts of Tumblr</a> that got zapped in a porn purge, everything that ever happened on Friendster and the other pre-Facebook social networks, Club Penguin, Neopets, Geocities, AOL, and Prodigy. Vast swaths of video games made for obsolete systems are unplayable memories.Hard drives have a finite lifespan, and the ones the <a target="_blank" href="https://arstechnica.com/gadgets/2024/09/music-industrys-1990s-hard-drives-like-all-hdds-are-dying/">music industry used for storage</a> in the 1990s ahead of the transition to digital are crumbling. The Department of Veterans Affairs is legally required to <a target="_blank" href="https://www.businessinsider.com/oracle-cerner-health-larry-ellison-28-billion-deadly-gamble-veterans-2024-5">preserve all medical records</a> for 75 years after the death of a vet — but it's having problems, in part because of a balky digital records system. And that's not to mention things like personal photographs, most of which now exist only on your phone, and nowhere else. Every email you sent or received in your last job, or anything a deceased relative had on their now-unusable computer? These are the things that make us us. Yet <a target="_blank" href="https://www.businessinsider.com/search-web-email-google-streaming-online-shopping-broken-2022-4">I dare you to find them</a>.There are always brave souls out there who try to rescue scrolls from a burning library. But it's hard to rescue something that exists only in the ether. "If a library burns down, it's a tragedy, but most of the books survive elsewhere," says Mark Graham, a leading internet archivist. "But the digital world is inherently fragile and potentially ephemeral."Graham is director of the Wayback Machine, a decades-old project that seeks to collect and save digital copies of web pages, for posterity. Gawker? Yeah, they got most of it. And that Pew study I mentioned, which showed that more than a third of the recent internet had vanished? "When we redid their study using their data, we found that about two-thirds of that material was safely stored on the Wayback Machine," Graham says. "So really only a ninth is gone." The Wayback Machine automatically archives more than a billion URLs every day. It also performs constant maintenance on the hundreds of millions of links across all 320 language editions of Wikipedia, which are atrophying at a rate of 10,000 URLs a day. Most recently, Graham worked on preserving 5,000 videos from a YouTube channel run by Rohingya activists, whose people were subjected to genocide in 2017. "They asked us to archive it because YouTube regularly deletes videos from their platform," Graham says. "They don't even leave metadata up, so you don't know what was deleted." He says he got all of the videos except one, which was age-restricted.Usually, the Wayback Machine's biggest obstacle is paywalls. Most of the articles in the world's scientific journals, for example, are widely available to anyone with a university affiliation. But the articles are prohibitively expensive for the rest of us — even if our tax dollars paid for the research they describe. An archive isn't really an archive if no one can afford the entry fee.But now there's a new threat to archiving our lives: artificial intelligence. When websites don't want to let AI slurp up their content, they block a certain kind of digital crawler-bot — the same species of critter the Wayback Machine uses. "That's happened almost overnight," Graham says. AI, with its insatiable hunger for training data, can't access the sites. But neither can the preservationists. In the wake of artificial intelligence, more intelligence is going to vanish.Let's be clear: This is about more than just losing a few <a target="_blank" href="https://www.niemanlab.org/2024/07/to-preserve-their-work-and-drafts-of-history-journalists-take-archiving-into-their-own-hands/">news articles</a> or clips from your favorite Adult Swim cartoon. What <a target="_blank" href="http://hdl.handle.net/1721.1/71216">an archive</a> is able to save, down to what formats fit in its file cabinets or data banks, literally determines what gets remembered. If you preserve, say, bank records from the 18th century but not sewing patterns, your annals are going to leave out a lot of people. Similarly, if your digital archive retains only the records of profitable businesses — because the ones that go bust wind up nuking their servers — you lose the memory of everything those deceased companies labored for. And what gets remembered about the past determines what we're able to do in the present. "Society is memory," says Marlene Manoff, who served as a senior collection strategist at MIT Libraries. "When you lose that memory, what does that mean?"Unreadable hard drives and vanishing links aren't the only threats to the historical record. Consider the selfie. Fifteen years ago, a researcher from the Scripps Institution of Oceanography named Loren McClenachan wanted to know whether commercial overfishing and environmental changes were making fish smaller. So she looked at five decades' worth of <a target="_blank" href="https://conbio.onlinelibrary.wiley.com/doi/10.1111/j.1523-1739.2008.01152.x">pictures of winning sportfishing catches</a> off Key West, Florida. The fishing boat company that ran the competitions, it turned out, had kept all the physical photographs, most of which had the date handwritten on the back.Armed with those artifacts, McClenachan was able to show that over the prior half-century, the sizes of prize-winning catches had declined by more than 50%. None of that data would have been available if all the fishers had kept the records of their catches on their phones. Instead we'd be subject to what's known as "<a target="_blank" href="https://www.wired.com/story/subtle-weather-shifts-might-make-climate-change-hard-to-see/">shifting baseline syndrome</a>" — the common assumption that whatever's normal today was the norm in the past, too.As the internet vanishes and we store our lives on our devices, we're actively choosing to punch huge gaps in our historical record. It's self-inflicted cultural amnesia, made worse by the fact that most of the web is in the hands of large corporations that place little value on preservation. "Over the long term, you can't preserve a digital object in its original form," says Manoff, the former MIT librarian. "But in the case of corporate ownership, the likelihood of responsible long-term stewardship of digital content in any form becomes increasingly unlikely."The Dark Ages, as historians used to call the early centuries of medieval Europe, lasted for 500 years. Our digital version may never end. A postliterate society leaves exactly as much of a mark on the world as a preliterate one. Which is to say, not much of a mark at all.<a target="_blank" class="" href="https://www.businessinsider.com/author/adam-rogers">Adam Rogers</a> is a senior correspondent at Business Insider.

We're about to enter the Digital Dark Ages

New Delhi: <keyword id="19904868" type="General" weightage="100" keywordseo="Ecom-Express" source="keywords">Ecom Express</keyword> Ltd has filed draft papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> to garner Rs 2,600 crore through an initial share-sale. The company's <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) comprises a fresh issue of equity shares worth Rs 1,284.50 crore and an Offer for Sale (OFS) of shares valued Rs 1,315.50 crore by promoters and other shareholders, according to the draft red herring prospectus (DRHP). Proceeds from the fresh capital to the tune of Rs 387.44 crore will be used for setting up new processing centres with automation and new fulfilment centres, Rs 73.71 crore for computers and IT equipment, Rs 239.23 crore for enhancing technology, data science capabilities, and cloud infrastructure, and Rs 87.92 crore for payment of debt. Also, the remaining funds will be used for general corporate purposes and potential acquisitions, according to the draft papers filed on Wednesday. The company may consider raising Rs 257 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Ecom Express operates a pan-India express logistics network that handles first-mile pick-up, mid-mile transportation, last-mile delivery, returns, and warehousing services. By offering essential logistics infrastructure and using technology, the company connect digital retailers and <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> platforms with consumers across the country. According to RedSeer report, the <keyword id="22803827" type="General" weightage="20" keywordseo="Indian-e-commerce-market" source="keywords">Indian e-commerce market</keyword> is projected to grow significantly, with a compound annual growth rate (CAGR) of 21 per cent over the next five years. It is expected to increase from Rs 5.1 lakh crore in 2024 to Rs 12.5-13.5 lakh crore by 2029. Growth is notably strong in Tier 2+ regions, which are expected to account for 70-80 per cent of B2C e-commerce shipments by 2029, up from 62 per cent in 2024, the report added. Axis Capital Ltd, IIFL Securities Ltd, Kotak Mahindra Capital Company Ltd and UBS Securities India Private Ltd are the book running lead managers to the company's public issue.

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

As India gears up for its vibrant festive season, a notable surge in <keyword id="23052492" type="General" weightage="20" keywordseo="seasonal-hiring" source="keywords">seasonal hiring</keyword> is taking place across various industries, with gig roles leading the charge. According to data from job site Indeed, seasonal hiring is projected to rise by 20% this year compared to last, driven primarily by <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, logistics, and retail sectors, as companies prepare for heightened consumer demand. Sashi Kumar, Head of Sales at Indeed India, emphasised, "The festive season is a crucial period for businesses across India, and we're seeing a significant uptick in hiring for seasonal roles as companies prepare to meet heightened consumer demand." <h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">What is gig work?</h3>Gig work refers to flexible, short-term, or freelance employment often facilitated by digital platforms. Unlike traditional full-time jobs, gig workers are hired on a project basis, allowing them to work for multiple employers or companies as needed. These roles are popular in industries like food delivery, transportation, and logistics. During India's <keyword id="21015356" type="General" weightage="20" keywordseo="festival-season" source="keywords">festival season</keyword>, when businesses experience a spike in demand, gig workers play an essential role in ensuring smooth operations across sectors like retail and e-commerce. <h3>Gig labour during festival season</h3>The festive season in India, spanning from September to December, is one of the busiest times of the year for businesses. As a result, companies ramp up hiring to cope with increased sales and customer demand. Seasonal roles in delivery, logistics, warehouse operations, and customer support see the highest demand, as businesses focus on timely deliveries, inventory management, and customer satisfaction. Indeed's data reveals that the top gig roles witnessing a rise in hiring this season include <keyword id="21462485" type="General" weightage="20" keywordseo="delivery-executives" source="keywords">delivery executives</keyword>, <keyword id="22103182" type="General" weightage="20" keywordseo="warehouse-workers" source="keywords">warehouse workers</keyword>, <keyword id="23052493" type="General" weightage="20" keywordseo="logistics-coordinators" source="keywords">logistics coordinators</keyword>, <keyword id="23052494" type="General" weightage="20" keywordseo="in-store-sales-executives" source="keywords">in-store sales executives</keyword>, and customer care executives. While major cities like Mumbai, Bengaluru, and Delhi see a steady increase in demand for gig workers (18-20%), tier-2 and tier-3 cities like Nagpur, Jaipur, and Vadodara are emerging as key contributors, witnessing a hiring surge of 22-25%. <div type="Article" hostid="261" msid="112999246" title="As fast as some jobs are growing, others are losing steam" mstype="2" mssubtype="0"></div><h3><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> major contributor</h3>One of the standout examples this festive season is Meesho, a leading e-commerce marketplace in India. According to sources, the platform has enabled around 8.5 lakh seasonal job opportunities, representing a 70% increase from last year. Of these, 5 lakh jobs were created within Meesho's seller network, while another 3.5 lakh jobs emerged in the logistics sector. Sourabh Pandey, CXO of Fulfilment and Experience at Meesho, shared, "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers, and logistics providers to scale their business is resulting in meaningful economic opportunities that are driving financial inclusion in these regions." Meesho has reportedly also partnered with prominent third-party logistics providers such as Delhivery, Ecom Express, and Shadowfax to meet the increased demands of the festive season. These collaborations have not only expanded logistics capacity but also helped generate gig opportunities in first-mile, middle-mile, and delivery associate roles. Abhishek Bansal, CEO &amp; Co-founder of Shadowfax, commented, "We are particularly excited to nearly double our capacity across several value-added services, such as Reverse Quality Check-Based Pickups and Hand-to-Hand Doorstep Exchange. These efforts ensure smooth deliveries and returns during the festive rush." <div type="Article" hostid="261" msid="112720685" title="If you want to find a job, it&amp;#39;s time to specialize" mstype="2" mssubtype="0"></div><h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">The future of gig work in India</h3>The rapid rise in <keyword id="23052491" type="General" weightage="100" keywordseo="gig-hiring" source="keywords">gig hiring</keyword> reflects the evolving needs of today's consumers, particularly during high-demand periods like the festive season. The e-commerce industry, which saw a 35% rise in demand for seasonal workers, is expected to continue driving this trend, with logistics and retail sectors close behind. "The industries that are growing — e-commerce, logistics, quick commerce — are doing so because they're aligned with the needs and behaviours of today's consumers,” Sashi Kumar explains. “This is where the future of India's <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword> could be heading". With a flurry of companies contributing significantly to job creation, particularly in tier-3 and tier-4 cities, gig work is becoming a vital source of employment across the country. As India's job market evolves, gig work is likely to play an even larger role in shaping the future of work, offering flexibility and economic opportunity to millions of workers. (With inputs from agencies)

E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

In an astonishing breakthrough, scientists in India have <keyword id="23249685" type="General" weightage="20" keywordseo="genetically-engineered-bacteria" source="keywords">genetically engineered bacteria</keyword> capable of performing <keyword id="23249686" type="General" weightage="20" keywordseo="mathematical-operations" source="keywords">mathematical operations</keyword>. Researchers from the <keyword id="23249687" type="General" weightage="20" keywordseo="Saha-Institute-of-Nuclear-Physics" source="keywords" meta.keywordsubtype="org" meta.entityname="Saha Institute of Nuclear Physics" meta.hostid="261" meta.entityid="Saha Institute of Nuclear Physics">Saha Institute of Nuclear Physics</keyword> (SINP) in Kolkata have demonstrated that clusters of bacterial cells can add, subtract, and even identify prime numbers between 0 and 9. This accomplishment marks a crucial step toward the development of biocomputers—computational devices made from <keyword id="23206086" type="General" weightage="20" keywordseo="living-cells" source="keywords">living cells</keyword> that could revolutionise how we think about computing in the future. <h2>A history of <keyword id="23249688" type="General" weightage="20" keywordseo="biological-computing" source="keywords">biological computing</keyword> </h2>The concept of using living cells for computation is not entirely new. Over the past two decades, researchers worldwide have explored the potential of biological systems to perform computational tasks. The first major breakthroughs came in the early 2000s when scientists developed synthetic biology techniques to engineer cells with logic gates—the fundamental components of digital computers. These biological logic gates allowed simple operations such as "AND," "OR," and "NOT," mimicking the operations seen in silicon-based processors. Following this, scientists advanced by using various microbes, such as <keyword id="22608696" type="General" weightage="20" keywordseo="E-coli" source="keywords">E. coli</keyword> and yeast, to perform basic mathematical operations like addition and subtraction. Researchers were able to construct networks of genes and proteins within the cells, programming them to respond to specific chemical inputs. While these early studies were promising, the computational tasks performed by cells were relatively simple and far from rivalling the capabilities of modern microprocessors. However, SINP's latest research takes a significant step forward by using a more sophisticated approach. The integration of artificial neural network concepts with genetic engineering enabled these bacterial cells to solve more complex and abstract problems, such as identifying prime numbers — tasks traditionally considered the domain of human brains or advanced computers. <div type="Article" hostid="261" msid="103532224" title="Scientist engineered bacteria to generate electricity from wastewater" mstype="2" mssubtype="0"></div> <h2>Turning <keyword id="6376020" type="General" weightage="20" keywordseo="bacteria" source="Orion">bacteria</keyword> into living machines </h2>The research team modified the E. coli genomes, incorporating 14 distinct genetic circuits, to create different bacterial types. These bacteria can be combined and arranged in liquid environments to execute various computational functions. In one set of experiments, the scientists were able to get them to add, subtract, and solve ten different computational problems, including determining prime numbers between 0 and 9. The bacteria's ability to answer yes-or-no questions, like "Is 4 a prime number?" or "Is 7 a prime number?" was particularly astonishing. When the bacteria were questioned chemically, they responded by secreting proteins that indicated their answers — green for "yes" and red for "no." This development underscores their capacity to function as living computers. The implications of this research are immense, not only for computational science but also for fundamental biology. “Mammalian cells make decisions all the time, and we currently have very little understanding of this decision-making process,” said Mohit Kumar Jolly, assistant professor at the Indian Institute of Science, Bangalore. This study offers fresh insights into biological decision-making and could open new avenues for understanding how living organisms process information. As scientists continue to explore the computational power of living cells, the possibilities are endless. Bacteria, once considered simple organisms, may well hold the key to the future of computing. <div type="Article" hostid="261" msid="110909568" title="A living computer? This AI made from interconnected &amp;quot;mini-brains&amp;quot; requires a million times less power than ChatGPT!" mstype="2" mssubtype="0"></div>

Did you know that genetically engineered bacteria can do math?

In a major move to enhance the <keyword id="23342045" type="General" weightage="20" keywordseo="tourism-experience" source="keywords">tourism experience</keyword> across India, the <keyword id="20246604" type="General" weightage="20" keywordseo="Ministry-of-Tourism" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Tourism" meta.hostid="261" meta.entityid="Ministry of Tourism">Ministry of Tourism</keyword> has launched an ambitious initiative titled '<keyword id="23342044" type="General" weightage="20" keywordseo="Paryatan-Mitra" source="keywords">Paryatan Mitra</keyword>' and 'Paryatan Didi' on the occasion of World Tourism Day. The initiative is designed to foster responsible tourism and create local ambassadors who will serve as guides and hosts, enriching the travel experience for visitors while promoting <keyword id="20467200" type="General" weightage="20" keywordseo="sustainable-tourism" source="keywords">sustainable tourism</keyword> practices. The program, which was launched as part of Prime Minister Narendra Modi’s broader vision of using tourism for social inclusion, employment generation, and economic progress, is aimed at empowering locals in some of India’s most visited destinations. The Ministry of Tourism is seeking to build a network of <keyword id="22391259" type="General" weightage="20" keywordseo="tourism-ambassadors" source="keywords">tourism ambassadors</keyword>, rooted within <keyword id="21350228" type="General" weightage="20" keywordseo="local-communities" source="keywords">local communities</keyword>, to act as proud custodians of their regions. Initially piloted in six diverse tourist hotspots — Orchha (Madhya Pradesh), Gandikota (Andhra Pradesh), Bodh Gaya (Bihar), Aizawl (Mizoram), Jodhpur (Rajasthan), and Sri Vijaya Puram (Andaman &amp; Nicobar Islands) — the program has already begun training locals in these areas. By August 15, over 3,000 individuals had undergone training, becoming official Paryatan Mitras, dedicated to offering tourists a more informed, friendly, and memorable experience. <h2>Enhancing hospitality and local storytelling</h2>The key objective of this initiative is to make tourism a vehicle for local pride and storytelling. By offering specialised training to those who frequently interact with tourists — such as cab drivers, hotel staff, restaurant workers, tour guides, street vendors, and even police personnel — the Ministry hopes to elevate the tourist experience to new heights. The training program emphasises the importance of cleanliness, safety, sustainability, and top-quality hospitality, all aligned with India’s age-old philosophy of 'Athithi Devo Bhava', meaning “The guest is equivalent to God.” This initiative goes beyond mere hospitality training. Each participant is also educated about their destination's hidden gems, historical significance, and <keyword id="19911712" type="General" weightage="20" keywordseo="cultural-heritage" source="keywords">cultural heritage</keyword>, turning every local into a knowledgeable storyteller. This not only improves the quality of the tourist experience but also helps locals take pride in their heritage and contribute meaningfully to the country’s tourism ecosystem. <h2><keyword id="20646064" type="General" weightage="20" keywordseo="empowering-women" source="keywords">Empowering women</keyword> and youth</h2>One of the most remarkable aspects of the Paryatan Mitra and Paryatan Didi programs is their focus on empowering women and young people. By training them to offer new tourism experiences such as heritage walks, food tours, craft experiences, and nature treks, the initiative opens up exciting employment opportunities. Many of these individuals are also trained to become homestay operators, tour guides, and food and culture experience providers, allowing them to monetize their skills and knowledge in tourism-driven local economies. In a nod to modern technology, the initiative also incorporates <keyword id="20055241" type="General" weightage="20" keywordseo="digital-literacy" source="keywords">digital literacy</keyword> training, equipping locals with the tools to make their tourism offerings more discoverable to both national and international visitors. By leveraging digital platforms, trained individuals can now market their homestays, tours, and cultural experiences online, allowing for a broader reach and better economic opportunities. At its core, this program reflects the Ministry of Tourism’s commitment to creating a collaborative tourism experience that benefits both visitors and locals. The initiative is not just about training individuals to work in tourism but is also about fostering a sense of community and ownership over the tourism experience, which in turn helps preserve cultural and natural heritage. As more individuals join the program, tourism in India could see a shift toward more sustainable practices, with local communities playing a crucial role in shaping how tourists experience their destinations. By connecting visitors to trained locals with a passion for their culture and environment, the Ministry of Tourism is taking a major step toward creating memorable, responsible, and sustainable tourism across the country. (With inputs from ANI)

To promote healthy tourism, new govt initiative will connect tourists to trained locals to improve their travel experience in India

In today's digital age, <keyword id="20114750" type="General" weightage="20" keywordseo="screen-time" source="keywords">screen time</keyword> is an integral part of life for people of all ages. However, recent preliminary research published in JAMA Network Open raises concerns about the impact of touch-screen <keyword id="22616884" type="General" weightage="20" keywordseo="tablet-games" source="keywords">tablet games</keyword> on <keyword id="20092400" type="General" weightage="20" keywordseo="toddlers" source="keywords">toddlers</keyword>, suggesting that frequent use may inhibit crucial interactions with their parents! The study highlights that early screen time is associated with delays in communication and problem-solving skills among toddlers. This aligns with a growing concern among parents regarding <keyword id="20083225" type="General" weightage="20" keywordseo="childrens-health" source="keywords">children's health</keyword>, with screen time topping recent polls as a significant issue. <div type="Article" hostid="261" msid="112016000" title="I run a preschool and see how gentle parenting has made parents less engaged with their kids. It&amp;#39;s time to ditch parenting scripts." mstype="2" mssubtype="0"></div>Dimitri A. Christakis, MD, MPH, director of the Center for Child Health, Behavior, and Development at Seattle Children's Research Institute, emphasised the importance of understanding <keyword id="21062651" type="General" weightage="20" keywordseo="digital-addiction" source="keywords">digital addiction</keyword>'s roots. “Compulsive use of screens appears to start in toddlerhood,” Christakis stated, highlighting a gap in current research focused on such young children. The researchers recruited 63 neurotypical toddlers aged 18 to 32 months to observe how they interacted with various stimuli and responded to attention bids from adults. The study involved providing toddlers with a farm toy, a tablet showing a child playing with the farm toy, a tablet with a farm-themed puzzle, a tablet with a farm-themed game, and a tablet with their favourite app. After one minute of exposure to each item, researchers and caregivers alternated attempts to capture the toddlers' attention. At the end, the researcher asked for the toy or tablet back. <h2>Evils of high screen time in children</h2>The findings revealed that toddlers were less responsive to prompts while playing the farm-themed game, which involved activities like shearing sheep. This effect was more pronounced as the children aged, and it was particularly significant among male toddlers, who took longer than female toddlers to acknowledge requests for behaviour changes. Additionally, toddlers with higher media usage at home were more likely to ignore prompts during the study. The study offers insights into the underlying mechanisms of delayed <keyword id="20607306" type="General" weightage="20" keywordseo="language-development" source="keywords">language development</keyword> linked to early screen use. Christakis explained, “early screen use deprives toddlers of opportunities to reciprocally engage with caregivers, which is a critical way children learn language and social skills.” The lack of joint attention during play with traditional toys, which is associated with better language skills, underscores the importance of human back-and-forth interaction for cognitive and social development. <div type="Article" hostid="261" msid="111816796" title="I&amp;#39;m a teacher and a parent. I support banning cellphones in classrooms." mstype="2" mssubtype="0"></div>While the study is preliminary, it sheds light on the need for further research to identify high-risk children and develop interventions promoting healthy screen use in early childhood. Christakis advocates for more comprehensive studies to understand better and mitigate the impact of screen time on young children's development. In conclusion, while touch-screen tablet games offer convenience and entertainment, their use should be balanced with traditional play and <keyword id="22616885" type="General" weightage="20" keywordseo="parent-child-interactions" source="keywords">parent-child interactions</keyword> to support <keyword id="22616886" type="General" weightage="20" keywordseo="healthy-development" source="keywords">healthy development</keyword> in toddlers. As research continues to evolve, it is crucial for parents and caregivers to stay informed and mindful of the potential long-term effects of early screen exposure.

“iPad kids” are less inclined to interact with their parents and show delays in problem-solving: Study

<ul><li>The <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> is looking to foray into the <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> and payments segments in India.</li><li><keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> is India’s second richest man, with just <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> ahead of him.</li><li><keyword id="19898586" type="General" weightage="20" keywordseo="adani" source="keywords">Adani</keyword> Group is reportedly planning on offering <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword> and e-commerce services through the Adani One app.</li></ul> Gautam Adani-led Adani Group has a diverse portfolio, from ports to energy and more. The conglomerate is now reportedly looking to enter the e-commerce and payments segments as the group diversifies. According to a report by Financial Times, the Adani Group is in talks to enter the e-commerce and payments segments as it wants to expand its digital business to take on Mukesh Ambani’s <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> and Google in India. While the Adani Group has a stake in several businesses, it has yet to make its presence felt in consumer-facing segments. <cmsannotation type="cmsannotation" annotationid="Talks on for payments license, credit card" comment="subhead" text="Talks on for payments license, credit card">Talks on for payments license, credit card</cmsannotation> The Adani Group is reportedly considering applying for a license to operate on the country’s public digital payments network, the Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers. <cmsannotation type="cmsannotation" annotationid="Push for ONDC" comment="subhead" text="Push for ONDC">Push for <keyword id="19987599" type="General" weightage="20" keywordseo="ONDC" source="keywords">ONDC</keyword></cmsannotation> The Adani Group is also reported to be in negotiations to enter the e-commerce segment through the government-backed Open Network for Digital Commerce (ONDC). With ONDC’s interoperable networks, companies do not have to invest in developing their own e-commerce platforms or payment systems. The ONDC services will reportedly be available on the company’s Adani One app, which was launched in 2022. The Adani One app currently offers travel services such as flight and hotel bookings. The services will initially be aimed at the company’s gas and electricity customers, offering them incentives to use their app in the form of cashback and discounts. <cmsannotation type="cmsannotation" annotationid="To take on Mukesh Ambani" comment="subhead" text="To take on Mukesh Ambani">To take on Mukesh Ambani</cmsannotation> Mukesh Ambani and Gautam Adani, who are the top two<a href="https://www.businessinsider.in/india/news/top-25-richest-people-in-india-in-2024/articleshow/110149894.cms"> richest people in India</a> have been competing for the top spot, with Adani occupying the top spot for a while. Gautam Adani’s net worth took a hit after a sharp decline in Adani Group shares during the Hindenburg saga. US-based research firm Hindenburg had released a report on the Gautam Adani-owned companies in late January in 2023, alleging stock manipulation among others. Adani Group’s<a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-mukesh-ambani-to-become-indias-richest-man/articleshow/106564235.cms"> shares rallied</a> after the country’s Apex Court passed a<a href="https://www.businessinsider.in/stock-market/news/adani-hindenburg-sc-verdict-sees-pack-rally-with-adani-energy-solutions-in-the-lead/articleshow/106505824.cms"> verdict</a> in favour of the group. Adani even went on to emerge as India’s richest man by adding $7.67 billion to his net worth in a short span. While Mukesh Ambani reclaimed the top spot, the gap is once again narrowing. According to the Bloomberg Billionaire’s Index, Gautam Adani’s net worth has now surged to $109 billion, just behind Mukesh Ambani who is valued at $114 billion, bringing down the gap to $5 billion. In the last year, Adani’s wealth has surged by $25 billion, while Ambani’s wealth has surged by $17.3 billion. Despite this surge, Adani’s wealth is yet to reach its peak of $119 billion. Adani’s new ventures will take on Mukesh Ambani’s JioMart and JioFinance, which is expected to soon begin offering payment services. Additionally, it will also take on Google Pay, one of India’s most popular UPI platforms. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/jiocinema-launches-new-annual-ad-free-subscription-plan-at-a-discount/articleshow/110486706.cms">JioCinema launches new annual ad-free subscription plan at a discount</a> <a href="https://www.businessinsider.in/sports/webstories/ipl-2024-award-winners-orange-cap-to-emerging-player-of-the-season-here-are-the-winners/slidelist/110454525.cms">IPL 2024 award winners – Orange cap to emerging player of the season, here are the winners</a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a>

Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google

<ul class="summary-list"><li>PayPal is set to launch an ad business, starting in the US.</li><li>The company intends to offer ads across its own properties, as well as other retailers.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/category/paypal">PayPal</a> is set to announce the official launch of PayPal Ads on Thursday. This new advertising business looks to help marketers tap into data on the billions of transactions that take place across its payments platforms.Starting this year, brands and agencies in the US will be able to run ads across properties, including PayPal, the person-to-person payment service <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/venmo-review">Venmo</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/paypal-acquired-honey-in-hopes-of-expanding-its-services-reach-2019-11">Honey</a>, its coupon and cash-back tool.Next year, PayPal also intends to let these advertisers purchase ads across the more than 30 million merchants that use its payment systems, opening up a much broader commerce-media ad network.Mark Grether, SVP and general manager of PayPal Ads, who <a target="_blank" class="" href="https://www.wsj.com/articles/paypal-is-planning-an-ad-business-using-data-on-its-millions-of-shoppers-cc5e0625">joined</a> the company this year after leading <a target="_blank" class="" href="https://www.businessinsider.com/uber-ads-reaches-1-billion-annual-revenue-run-rate-2024-8">Uber's now-$1-billion ad business</a>, will make the announcement at the Advertising Week New York trade show later on Thursday.In an interview with Business Insider, Grether said the company is looking to address a key pain point in the <a target="_blank" class="" href="https://www.businessinsider.com/retail-media-advertising-surges-challenging-google-traditional-channels-2023-9">fast-growing retail media ad space</a>. An avalanche of retailers, apps, and businesses have launched advertising businesses in recent months, but marketers typically can't buy campaigns across multiple sites and instead must deal with each company individually."With our cross-merchant data we are in a prime position to help the market to rationalize," Grether said.Around $1 in every $7 US ad dollars is expected to be devoted to the retail media space this year, according to <a target="_blank" class="" href="https://www.emarketer.com/content/retail-media-ad-spending-forecast-h1-2024">Emarketer</a>. Advertisers are particularly attracted to the space because they can get in front of consumers just as they're about to make a purchase and retailers can offer unique data about whether their advertising led to a sale. That means it's a high-margin business for the sellers of retail media ads because they can charge higher rates than the average web display ad."The newest offering from PayPal underscores the importance of incrementality: While data and signals tied to consumer purchasing are not necessarily new, the opportunity to infuse incremental moments of influence throughout shoppers' journeys opens up real-time engagement for advertisers," said JiYoung Kim, chief operating officer, of the the media investment company GroupM.PayPal had 429 million active accounts as of June 30, a larger potential audience than most individual retailers — bar the likes of Amazon and Walmart, which are the leaders in the retail media space.Grether said PayPal will also be able to offer advertisers insights, such as the market share of their products across various retailers compared to their competitors."It's really powerful not only for the CMO but also for the CFO, to see how a retail marketing campaign actually influences market share," Grether said.Users can opt-out of their data being shared with advertisers, PayPal said.PayPal's other plans for next year include expanding from display ads to video, working on self-service ad software for its clients, and offering PayPal Ads in more territories, such as the UK and Germany. PayPal said the current ad stack has been built using a mixture of third-party software and its own in-house tech.PayPal made its first foray into ads earlier this year, launching non-targeted in-app offers from brands like Nordstrom, Lyft, and Ticketmaster. It's also recently launched a marketing push that aims to position PayPal and Venmo as rewarding payment methods.PayPal's advertising expansion follows the company's appointment of CEO Alex Chriss, who has sought to make the company more <a target="_blank" href="https://finance.yahoo.com/news/how-paypals-new-ceo-is-reinventing-the-firm-as-it-goes-beyond-payments-141126940.html">nimble</a>. Under Chriss, PayPal overhauled its leadership team, including hiring former Verizon chief marketing officer Diego Scotti, who Grether reports to.Robert Webster, the founder of the consultancy TAU Marketing Solutions, said PayPal's transaction data puts the company in a prime position to launch an advertising service. But he said it will need to tread carefully in order not to alienate and bombard customers. Plus, it's launching late into an already crowded market."Mastercard already has a data business," Webster said. "They will be somewhat also competing with other data vendors like Lotame, Dunn and Bradstreet, Experian, as well as potentially competing with retail media networks."

You Searched For "Open Network for Digital Commerce" and got 11 results

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

PTI

India to see retail digital payments to double to USD 7 tn by 2030: Report

PTI

India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030

BI India Bureau

We're about to enter the Digital Dark Ages

Adam Rogers

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

PTI

E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

BI India Bureau

Did you know that genetically engineered bacteria can do math?

BI India Bureau

To promote healthy tourism, new govt initiative will connect tourists to trained locals to improve their travel experience in India

BI India Bureau

“iPad kids” are less inclined to interact with their parents and show delays in problem-solving: Study

Ashmita Gupta

Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google

Sourabh Jain

PayPal just opened a new ad business. The exec leading it unpacks the plan to link advertisers with its trove of transaction data.

Lara O'Reilly

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You Searched For "Open Network for Digital Commerce" and got 11 results

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

PTI

India to see retail digital payments to double to USD 7 tn by 2030: Report

PTI

India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030

BI India Bureau

We're about to enter the Digital Dark Ages

Adam Rogers

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

PTI

E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

BI India Bureau

Did you know that genetically engineered bacteria can do math?

BI India Bureau

To promote healthy tourism, new govt initiative will connect tourists to trained locals to improve their travel experience in India

BI India Bureau

“iPad kids” are less inclined to interact with their parents and show delays in problem-solving: Study

Ashmita Gupta

Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google

Sourabh Jain

PayPal just opened a new ad business. The exec leading it unpacks the plan to link advertisers with its trove of transaction data.

Lara O&apos;Reilly

Popular Keywords

Buying Guides

Lara O'Reilly