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After Hike and Truecaller, now Whatsapp is gearing up to implement <keyword id="4267107" type="UNKNOWN" weightage="20" keywordseo="united-payments-interface">United Payments Interface</keyword> (UPI) on its platform, making payments easier for the users. To facilitate instant transfer, Whatsapp is in talks with Indian banks and other institutions such as the State Bank of India, the National Payments Corporation of India, etc. "Due to the complexity of the architecture, WhatsApp is in discussions with the State Bank of India, NPCI and few other banks to devise ways to integrate their systems with the bank and with NPCI,” a senior SBI official told ET. In the past, Truecaller has worked with <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> to implement UPI-based payments. Recently, Hike Messenger launched its UPI-based payments in collaboration with Yes Bank.

After Hike, you’ll be able to transfer money via WhatsApp soon

<ul><li>With the <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> asking its personnel to delete 89 apps, Swedish caller identification app <keyword id="1106616" type="PERSON" weightage="20" keywordseo="TrueCaller">Truecaller</keyword> on Thursday termed its inclusion in the list of the prohibited applications as "unfair" and "unjust".</li><li>The list not only includes Chinese apps like <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword> that have already been banned by the government, but also has popular platforms like Facebook, Instagram, <keyword id="6358096" type="DEFINITION" weightage="20" keywordseo="snapchat">Snapchat</keyword>, Zoom and Reddit, among others.</li><li>The Indian Army wants its personnel to delete these apps over national security concerns.</li></ul> With the Indian Army asking its personnel to delete 89 apps, Swedish caller identification app Truecaller on Thursday termed its inclusion in the list of the prohibited applications as "unfair" and "unjust". The list not only includes Chinese apps like TikTok that have already been banned by the government, but also has popular platforms like Facebook, Instagram, Snapchat, Zoom and Reddit, among others. The Indian Army wants its personnel to delete these apps over national security concerns. "It is disappointing and saddening to learn that Truecaller is among the list of 89 apps being banned by the Indian Armed Forces for their personnel. Truecaller is an app of Swedish origin that considers India its home," a Truecaller spokesperson said in a statement. Headquartered in Stockholm, Truecaller provides a suite of services such as a dialer that offers caller ID, spam detection, messaging and more. "We would like to reiterate that Truecaller remains safe to use, both for our citizens and for our esteemed armed forces personnel. We see no reason for Truecaller to be on this list and will investigate the matter further," added the statement. "Truecaller provides a vital service for over 170 million people in India, identifying and blocking hundreds of millions of spam calls and SMS every single day," it added. Saying its inclusion in the list "unfair" and "unjust", Truecaller added that it stores all user data in India and all app features are permission-based and disabled by default. Moreover, a majority of Truecaller employees globally are Indian and the platform does not upload phonebooks or sell user data, it claimed. In 2019, in a nightmare for thousands of Truecaller users in India, a so-called bug automatically created their Unified Payments Interface (UPI) accounts with <keyword id="196021" type="COMPANY" weightage="20" keywordseo="The-ICICI-Bank">the ICICI Bank</keyword> without their consent, triggering panic and hacking fears. Truecaller later apologized to the users who were affected by the bug. SEE ALSO: <a href="https://www.businessinsider.in/india/news/photographer-of-the-viral-black-panther-images-from-india-shares-his-story/articleshow/76830618.cms">INTERVIEW: Shaaz Jung opens up about the blood, sweat and years behind the viral images of a rare black panther</a> <a href="https://www.businessinsider.in/politics/world/news/harvard-and-mit-are-suing-ice-to-block-its-order-forcing-international-students-to-leave-the-us-if-their-course-is-online-only/articleshow/76856699.cms">Harvard, MIT, and Northeastern University are suing ICE to block its order forcing international students to leave the US if their course is online-only</a> <a href="https://www.businessinsider.in/tech/enterprise/news/russian-scammers-are-conning-senior-executives-into-giving-away-2-7-million-by-impersonating-real-ceos-and-lawyers/articleshow/76849870.cms">Russian scammers are conning senior executives into giving away $2.7 million by impersonating real CEOs and lawyers</a>

Truecaller says ban by Indian Army 'unjust'

<ul><li><keyword id="1106616" type="PERSON" weightage="20" keywordseo="TrueCaller">Truecaller</keyword> has 150 million users in India and a total of 200 million worldwide. </li><li>The Swedish app’s revenue jumped 70% in the last four months and turned profitable. </li><li>It also said that its premium subscription service has a million users. </li><li>The company believes that its paying users will grow by 50% in the coming months.</li></ul>As much as 75% of total users of Truecaller are from India. According to a press release by the company, users from Indian market make up for 150 million monthly active users, of its total 200 million worldwide. All this is due to excessive spam calls that Indian customers are trying to block. According to data <a>revealed</a> by the company, India ranks fifth globally when it comes to spam calls and over 10% of these calls come from financial service providers. Truecaller also declared that it has turned profitable over the last four months, after a sharp revenue jump. “We are thrilled and humbled that we have been profitable for the last several months while simultaneously growing revenues at over 70% annually,” said Sandeep Patil, managing director of Truecaller. The app recently expanded its service offerings to include voice and messaging, UPI payments and more. Truecaller also said that its premium subscription service now has a million users. And it’s gunning for more. The company believes that its paying users will grow by 50% in the coming months. Truecaller to offer <keyword id="5012940" type="PERSON" weightage="20" keywordseo="digital-credit">digital credit</keyword> lending services soon The Swedish app also wants to enter new business areas that can boost its revenues. It’s sector of choice is digital lending services. Several tech companies are choosing to enter Indian fintech space like smartphone makers <a href="https://www.businessinsider.in/business/news/xiaomi-launches-mi-credit-in-india/articleshow/72350148.cms">Xiaomi</a> and <a href="https://www.businessinsider.in/tech/news/smartphone-makers-realme-and-xiaomi-will-compete-in-the-financial-services-market-too/articleshow/72832681.cms">Realme</a>. Paytm founder Vijay Shekhar Sharma even <a href="https://www.businessinsider.in/business/startups/news/decoding-vijay-shekhar-sharmas-latest-tweet-on-2020-being-the-year-of-lending/articleshow/73924710.cms?src=hp_latest">took to Twitter</a> earlier today to claim “2020 will be the year of lending, globally”. Getting ready for an IPO This sudden interest in raking up revenue has long-term plans. Patil said that Truecaller is getting ready for an initial public offering (IPO). “This is a concrete milestone on our path to build a financially-sustainable independent company that will be ready for IPO in three years,” he added. So far, the 10 year old company <a href="https://www.crunchbase.com/organization/true-software-scandinavia#section-overview">raised</a> $98.5 million from Sequoia Capital and Kleiner Perkins, among others. Revamping business products It is also expanding its portfolio with Truecaller for Business, aimed at small and medium enterprises and businesses. This FourSquare-like service will help businesses discover users nearby. Currently, Truecaller for Business is offered for free. Business owners can create their profiles with information like address, website, email and opening business hours. These features are similar to what we find in Google Maps. It is also revamping its Truecaller Priority service to distinguish between businesses from spam calls. See also: <a href="https://www.businessinsider.com/truecaller-expands-fintech-efforts-in-india-2019-12?IR=T">Truecaller expands further into fintech in India by providing credit to small businesses</a> <a href="https://www.businessinsider.in/how-truecaller-helped-spotify-and-zoomcar-reach-500-million-impressions-in-a-day/articleshow/70960768.cms">How Truecaller Helped Spotify and Zoomcar Reach 500 Million Impressions in a Day</a>

Truecaller has three-fourths of its customers in India - all thanks to endless spam calls

<ul><li><keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword> has plans on rolling out its own Unified Payments Interface (UPI) so that online shoppers don’t have to depend on third-party applications to make payments on the platform. </li><li>With this move, the company is rolling into a space that already has a lot of competition with PayTM, BHIM, PhonePe, <keyword id="2750705" type="PERSON" weightage="20" keywordseo="Google-Pay">Google Pay</keyword> and <keyword id="1106616" type="PERSON" weightage="20" keywordseo="TrueCaller">Truecaller</keyword>. </li><li>With its own UPI as an option, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> India will be able to offer users an ‘end-to-end’ solution for <keyword id="6357762" type="UNKNOWN" weightage="20" keywordseo="online-shopping">online shopping</keyword>.</li></ul>India’s central bank just announced a committee to push more Indians towards digital payments and Amazon has plans of jumping into the ring with its own Unified Payments Interface (UPI). Bankers told <a href="https://tech.economictimes.indiatimes.com/news/internet/amazon-starts-closed-user-group-testing-of-upi-pay-platform/67445483">ETtech</a> that the e-commerce giant is already testing its UPI on a restricted user base, in partnership with Axis Bank. Any digital payments platform needs to adopt <a href="https://www.businessinsider.in/upi-2-0-heres-what-you-need-to-know/articleshow/65444928.cms">UPI 2.0</a>, which was launched in August, 2018, in order to enable online financial transactions in India. That space is currently dominated by the Indian government’s own <a href="https://www.businessinsider.in/UIDAI-CEO-confident-about-BHIM-and-Aadhaar-Pay-says-misuse-not-possible/articleshow/58235536.cms">BHIM app</a>, <a href="https://www.businessinsider.in/thanks-to-demonetization-paytm-is-making-rs-120-crore-per-day-achieves-target-before-deadline-crosses-5-billion-gmv/articleshow/55541691.cms">PayTM</a>, PhonePe, Google Pay and Truecaller. But, Amazon has an edge. Rather being a digital wallet that adapts to being an e-commerce platform like PayTM, Amazon already has its customer base. Setting up its own UPI will help users that are already on Amazon, stay on Amazon, without needing a third-party app to make online payments. Even WhatsApp had <a href="https://www.businessinsider.in/whatsapp-google-yet-to-fully-comply-with-indias-data-localisation-norms-despite-repeated-inquiries-from-the-government/articleshow/66878922.cms">plans</a> of rolling out its own payments platform in June, 2018 but India’s new data localisation policy has them stuck in a rut. How is this going to change how you make payments online? At the checkout stage while shopping online on Amazon, it will have its own UPI handle that you can choose to make payments along with the usual suspects — debit cards, credit cards, net banking or cash-on-delivery. The UPI handle will allow you to make payments directly from your bank account to Amazon. Due to the vast popularity of PayTM, some users assume that all UPI using apps are digital wallets — but they’re not. An e-wallet is where money is transferred from your bank account into a digital wallet, where you can access it to make payments. But an app developed on the UPI platform allows transactions to occur directly between your bank account and the vendor, like a debit card, where the app is only the means of making the transfer without any having to store the money anywhere else in between. That will be the essential difference between Amazon Pay and Amazon’s UPI platform. The introduction of Amazon’s own payment platform will negate the need for consumers to turn elsewhere when they need to access their money. It assures users of an end-to-end solution for their online shopping.

In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller

<ul><li><keyword id="4009819" type="PERSON" weightage="20" keywordseo="Amazon-Pay">Amazon Pay</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> <keyword id="418872" type="PERSON" weightage="20" keywordseo="digital-wallet">digital wallet</keyword> in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>, is rolling out user verification (KYC) for its customers.</li><li>Reportedly submitting biometrics using <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword> credentials is a faster process for verification than other physical documents. </li><li>But concerns related to Aadhaar aren’t about its convenience, but about its security.</li></ul>Amazon Pay is the next digital wallet to roll out physical customer verification — but there’s a catch. If you use your <keyword id="6356006" type="UNKNOWN" weightage="20" keywordseo="Aadhaar-card">Aadhaar card</keyword> for verification, the process is a lot quicker than if you other methods of verification — passport, drivers license, voter ID, or bank statements. It’s not really Amazon’s fault because the biometric verification through Aadhar is simple matter of verifying your fingerprint through a fingerprint reader. But, with other physical documents, the company needs people on the ground to verify the authenticity of the documents. Simply put, the verification through Aadhaar is a lot cheaper for Amazon as compared to using other documents for physical verification. Amazon Pay and other digital wallets have to enforce user verification in line with the Reserve Bank of India’s new policy on data localisation. Not an Amazon-specific problem India’s central bank, the Reserve Bank of India, rolled out its data localisation policy rendering 95% of mobile wallets in the country vulnerable to being shut down. The directive of the policy makes it mandatory for all digital wallets to have biometrics or physical customer verification in place. Even PayTM nudged its users into adopting KYC in order to continue using their wallets. If your PayTM account isn’t verified, you can still receive payments from other users and make payments at retail outlets using the QR-code but you can’t send out money to other users directly. Other digital wallets like MobiKwik have shifted to diversifying themselves because they haven’t been able to push their customers towards KYC norms with RBI’s February deadline coming up. The case with Aadhaar India’s top court has already ruled that private companies can’t make it ‘mandatory’ for Aadhaar to be the only method of user verification. But that doesn’t negate it as an option. The issue that people are facing with Aadhaar isn’t whether or not it’s convenient, but whether or not it’s safe. The series of data breaches associated with the Aadhaar system didn’t happen through actual government database, but through third-party organisations that were using Aadhaar information as user identification. A <a href="https://timesofindia.indiatimes.com/india/80-people-concerned-about-aadhaar-data-security-study/articleshow/64382747.cms">study </a>by Velocity MR estimates that as many as 80% of respondents in India are concerned about data security when it comes to giving out their Aadhaar card information anywhere. It’s not just about identity theft but information being leaked that leads to customers being spammed over text and email — or even phished. This is probably why Amazon is looking to roll out its own Unified Payments Interface (<keyword id="6358921" type="ORGANIZATION" weightage="20" keywordseo="upi">UPI</keyword>) because, in that case, KYC isn’t mandatory for setting up an account. The verification done by the respective banks is enough. See also: <a href="https://www.businessinsider.in/in-india-amazons-fight-is-not-just-with-flipkart-but-with-paytm-google-pay-and-truecaller/articleshow/67456165.cms">In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller</a> <a href="https://www.businessinsider.in/indian-government-portal-leaks-8-9mn-aadhaar-details-again/articleshow/63924186.cms">Indian government portal leaks 8.9mn Aadhaar details, again</a> <a href="https://www.businessinsider.in/supreme-court-clarifies-that-aadhar-isnt-mandatory-for-a-new-sim-connection/articleshow/63928188.cms">Supreme Court clarifies that Aadhar isn’t mandatory for a new SIM connection</a>

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After Hike, you’ll be able to transfer money via WhatsApp soon

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Truecaller says ban by Indian Army 'unjust'

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Truecaller has three-fourths of its customers in India - all thanks to endless spam calls

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In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller

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This is why Amazon wants your Aadhaar number

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