India is on a fast-track to becoming a digital powerhouse and the adoption of mobile payments has crossed new milestones. Fintech giant <keyword id="6357120" type="General" weightage="40" keywordseo="paytm" source="Orion">Paytm</keyword> has a pivotal role in India’s digital transformation through its innovative and easy-to-use solutions. Paytm pioneered QR Codes that have changed the entire payments landscape, teaching ‘scan and pay’ to millions of users. With the launch of <keyword id="9418617" type="General" weightage="100" keywordseo="paytm-soundbox" source="Orion">Paytm Soundbox</keyword> in 2019, in-store payments got a complete overhaul. Paytm became the first company to introduce audio payment alerts through its iconic Soundbox. This portable device has become a common sight across the country with its audio alerts becoming synonymous with successful transactions. According to Paytm’s Annual Report for FY23, over 13.72 billion online payment transactions were processed through its Soundbox devices in the last one year (April 2022 - March 2023). This is a testament of how Paytm’s innovative device continues to be the leading in-store payment solution in the country. It is also a sustainable business solution as it has helped save paper slips worth 12.07 million pounds in FY23. <cmsannotation type="cmsannotation" annotationid="Paytm Soundbox - The Sound of India’s Growing Economy" comment="subhead" text="Paytm Soundbox - The Sound of India’s Growing Economy">Paytm Soundbox - The Sound of India’s Growing Economy</cmsannotation> Paytm All-In-One Soundbox has created a wave among merchants in the country being the first-ever device that enabled them to easily keep track of payments received from customers through audio payment confirmations. The first-of-its-kind IoT device supports 11 regional languages - English, Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi and Odia. Paytm Soundbox has significantly reduced customer fraud and risks of false confirmations and building trust between merchants and customers through its devices. Taking its innovations a step further, Paytm recently launched two new 100% indigenous devices – Paytm Music Soundbox and Paytm Pocket Soundbox, further strengthening its payment monetisation. The convenience offered by Paytm Soundbox has taken over the country’s imagination, providing a seamless, instant, and secure payment experience to users. Driving flexibility for users, Paytm Soundbox enables merchants to accept multiple payment methods such Paytm Wallet, Paytm Postpaid (BNPL), Paytm UPI, Paytm UPI Lite, net banking &amp; cards. Paytm Soundbox continues to be the most preferred choice for merchants in the country empowering them with unique offerings such as credit facility, 4G connectivity and cashbacks. Paytm continues to be the market leader in in-store payments, with 82 lakh devices like Paytm Soundbox and Card Machines, deployed at the end of July 2023. The company has added 3.8 lakh devices, crossing a new milestone in in-store payments. As India’s leading payments and financial services company, Paytm ground-breaking innovations have emerged as a disrupter in the mobile payments ecosystem, playing an instrumental role in setting the benchmark for in-store payments in the country. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Paytm Soundbox achieves 13.72 billion transactions in FY23 – reinforcing in-store payments dominance

<ul><li><keyword id="149865" type="PERSON" weightage="20" keywordseo="Chinese-hackers">Chinese hackers</keyword> are increasingly targeting Indian <keyword id="4112095" type="PERSON" weightage="20" keywordseo="Unicorn-Startups">unicorn startups</keyword> like Swiggy, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, Ola and Byju’s to steal sensitive information. </li><li>The motivation is no longer to cause harm to their reputation but to get away with as much user insight as possible without causing too much noise. </li><li>“They are hunting those companies because they have a lot of data,” Kumar Ritesh, the CEO of Singapore-based cybersecurity firm Cyfirma told Business Insider in an interview. </li></ul>Hackers usually follow the money but now they have now set their sights on a new pot of gold at the end of the rainbow — data. And, their newest targets are unicorn startups in India. <div type="Article" hostid="261" msid="76528261" title="Top 20 Indian organisations under threat of attack from Chinese hackers to “teach India a lesson” amid border tension" mstype="2" mssubtype="0"></div> The geopolitical tensions between India and China have led to a surge in cybercriminals trying to infiltrate companies like Swiggy, Paytm, Ola, Byju’s and OYO among others. Singapore-based cybersecurity company Cyfirma has a new platform called DeCYFIR which can spot threats before an attack occurs by analysing conversations across the dark web and hacker forums. Traditionally, cybercriminals have honed in on telecom companies. Jio, in particular, is a crowd favourite. Right now, the names of <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> have started popping up in these hidden corners of the world wide web. And, the frequency only seems to be increasing. Data hungry hackers Cyberattacks on Indian firms by state-sponsored Chinese hackers were primarily driven by the idea of causing damage to the company’s reputation. However, over the last three months, it’s no longer about creating noise. Instead, it’s about getting behind the defensive walls of companies in order to exfiltrate personal, sensitive, and financial information. “A lot of young companies that started five to ten years ago and have grown to become unicorns — who do a lot of customer services, who collect personal information and financial information, and are supplying you with food, education or other things — and they [cybercriminals] are hunting those companies because they have a lot of data,” Kumar Ritesh, the CEO of Singapore-based cybersecurity firm Cyfirma told Business Insider in an interview. Unicorn startups, in particular, are powerhouses of data and intellectual property. Getting access to that data has a wider impact than just taking down their website. Ritesh cited the example of Chinese hackers stealing data from a popular Japanese cosmetics company. They were able to get away with the IP of the company's signature face cream. The cream soon resurfaced under a Chinese brand name — made using the same formula — undercutting the price of the Japanese company by 30%. The uncertainty around Huawei, the ban on Chinese apps in the Indian market along with the investment restrictions are pushing China out of the loop when it comes to data from Indian users. Ritesh believes that the uptake in attacks is not temporary and won’t die down after the coronavirus pandemic. New players are entering the field of cyber warfare, and the digital world is all set to get more combative. SEE ALSO: <a href="https://www.businessinsider.in/science/research/news/red-bricks-dont-just-make-walls-they-can-now-power-your-house-too/articleshow/77486542.cms">Walls can be power banks for houses as red bricks turn into energy-storing batteries</a> <a href="https://www.businessinsider.in/careers/news/it-and-media-employees-are-in-no-hurry-to-get-back-to-office-not-until-there-are-proper-policies-in-place/articleshow/77486082.cms">IT and media employees are in no hurry to get back to office — not until there are proper policies in place</a> <a href="https://www.businessinsider.in/defense/news/india-approves-another-1-2-billion-for-defence-over-and-above-the-5-5-billion-last-month/articleshow/77487432.cms">HAL's share price jumps 4% after India approves defence projects worth $1.2 billion</a>

After Jio, India's unicorn startups are the top target for Chinese hackers trying to get their hands on Indian users' data

<keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Chairman <keyword id="3820" type="General" weightage="80" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> said that <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> is poised for an "unprecedented explosion in economic growth and opportunities" during the Amrit Kaal and will grow from a USD 3 trillion economy to USD 40 trillion economy by 2047 to rank among the top three economies of the world. Addressing the convocation of Pandit Deendayal Energy University (PDEU) here on Tuesday, Mukesh <keyword id="10924" type="General" weightage="20" keywordseo="ambani" source="Orion">Ambani</keyword> said three game-changing revolutions will govern India's growth in the decades ahead - the Clean Energy Revolution, the Bio-Energy Revolution and the Digital Revolution. "Together, they will transform lives in ways unimagined. While the Clean Energy Revolution and the Bio-Energy Revolution will produce energy sustainably, the Digital Revolution will enable us to consume energy efficiently. All three revolutions will together help India and the world save our beautiful planet from the Climate Crisis," he said. "I am confident that you, the students of PDEU, along with lakhs of other bright young minds from across the nation, will leverage these revolutions to enable India meet its energy goals," he added. Mukesh Ambani, who is President, Board of Governors of PDEU, said he was excited about the convocation ceremony. "This batch of PDEU is graduating during a year that marks the beginning of India's Amrit Kaal. In our tradition, Amrit Kaal is regarded as the most auspicious time to start anything new. And each of you are starting your professional journey in this period. As the Amrit Kaal unfolds, India will witness an unprecedented explosion in economic growth and opportunities," he said. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world in your working life. In other words, a bright future beckons you. Be ready to step out confidently when opportunity knocks on your door," he added. Mukesh Ambani said the university has made the students future-ready, because it researches and teaches "energy with a very comprehensive perspective". He also had a word of advice for students, saying that in era of 4G and 5G, there is no 'G' greater than "MataG amd PitaG". "Today is your day. The arc lights are on you. But standing in the wings are your parents and elders... it's a very special day for them too. They have waited eagerly to see you walk up to the stage and receive your graduation certificate. It has been their lifelong dream," Mukesh Ambani said. "Don't ever forget the struggles they underwent and the sacrifices they made to bring you here. Their contribution to your success is immeasurable. Let me tell you something in your own lingo - the language of the youth. Nowadays, every youngster is excited about 4G and now 5G. But there is no 'G' in this world greater than Mata G and Pita G. They were, are, and will always remain your most dependable pillars of strength and support," he added. He said PDEU students were "bubbling with energy and enthusiasm", "brimming with creativity and ideas" and "bristling with entrepreneurial spirit" and were equipped with the knowledge and the skill-set needed to design breakthrough energy solutions for 1.4 billion Indians. "You have all the necessary ingredients to be the leaders India needs...And as leaders of India's future, you should ensure our nation leads the global clean and green energy revolution. It is a goal each one of you should pursue in mission mode," he said. The leading industrialist shared three mantras with students to help them achieve success in this mission: "One, Think Big. Be an audacious dreamer. Every great thing ever built in this world was once a dream thought to be impossible. You have to own your dream with courage, nurture it with conviction and realise it with bold and disciplined action. It is the only way you can make the impossible possible. "Two, Think Green. The Clean Energy movement is about adopting a green mindset. It is about being sensitive to Mother Nature. It is about inventing means to harvest its energy without harming it. It is about ensuring that we leave behind a better and healthier planet for future generations. "And three, Think Digital. In your mission of making India a clean energy leader, digitisation will play the role of a force multiplier. Technologies such as AI, Robotics and IoT are powerful enablers of change. Use them to your advantage. These three mantras will be your astras in your mission of making India a global clean energy leader," he said. Referring to challenges posed by COVID-19, he said the period "was a trial by fire for each of you....indeed, for all of humanity" "But remember, the finest sword is forged in raging fire," he said. Mukesh Ambani said the experiences in the past couple of years are "invaluable lessons no institution could have taught you". "They have shaped you into better professionals. They have made you tougher from within. They have filled you with the spirit of care and empathy. "And they have taught you the importance of service to humanity with honesty and integrity. With these learnings in your kitty, no mountain will be too high to climb; no river will be too wide to cross. So roll up your sleeves and move ahead," he said. Referring to Tata Group chairperson N Chandrasekar, who was the chief guest for the event, Mukesh Ambani said he "is a true inspiration to the business community and the youth of India". "Through his vision, conviction and rich hands-on experience, he has scripted Tata Group's spectacular growth in recent years. He has also led its forays into the businesses of the future," he said. Mukesh Ambani said he is particularly inspired by "the gigantic steps" the group has taken in the field of renewable energy under his leadership. "If India has to become a renewable energy powerhouse, it is possible through the combined will and initiatives of many leading business groups working with the ethos of a national coalition," he said. Referring to Hasmukh Adhia, chairman of the Standing Committee of the University, Mukesh Ambani said he is "one of the finest financial minds India has produced". "The banking and fiscal reforms he formulated as Finance Secretary have changed the face of our financial system. Under his chairmanship, PDEU has become the first private university in Gujarat to be awarded the A++ grade by NAAC. The credit for this achievement also goes to the excellent faculty and staff of PDEU," he said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indias-benchmark-indices-snap-3-day-losing-streak-easy-trip-planners-extends-gains-paytm-tanks-11/articleshow/95688559.cms">India’s benchmark indices snap 3-day losing streak – Easy Trip Planners extends gains, Paytm tanks 11%</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-pour-11452-crore-in-financial-services-in-the-first-half-of-november/articleshow/95681904.cms">FPIs pour ₹11,452 crore in financial services in the first half of November</a> <a href="https://www.businessinsider.in/finance/news/visa-platinum-prepaid-card-users-will-soon-be-able-to-make-their-payments-with-wearables-like-band-rings-jackets-watch-straps/articleshow/95690253.cms">Wear it, tap it and get going: Visa Platinum prepaid card users will soon be able to make their payments with wearables like band, rings, jackets, watch straps</a>

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Paytm Soundbox achieves 13.72 billion transactions in FY23 – reinforcing in-store payments dominance

Insider Studios

After Jio, India's unicorn startups are the top target for Chinese hackers trying to get their hands on Indian users' data

Prabhjote Gill

Mukesh Ambani says India will become a $40 trillion economy by 2047

ANI