Paytm Says may additionally start bills financial institution Operations in August

Paytm Says May Begin Payments Bank Operations in August

virtual bills company Paytm expects to start its payments financial institution operation in the united states of america by August.

The Noida-founded company had received an in-precept approval from RBI to installation a paymentsbank in August closing yr.

payments financial institution can take delivery of demand deposits and financial savings financial institution deposits from individuals and small companies, up to a maximum of Rs. 1 lakh in keeping with account.

we hope to finish all the necessities and hand them to RBI for their movebeforehand by means ofAugust… by way of then, we will even have a brick and mortar set-up in vicinity,” Paytm co-founder and CEO Vijay Shekhar Sharma told journalists in New Delhi.

however, the point of interest might be on the usage of era and connecting the unbanked and underbanked populace, he delivered.

we are able to start with north east and relevant as we referred to at some point of the licenceprocedure,” he said.

post the launch of the bank, Paytm becomes an quit-to-cease fee monetary offerings company with banking and mobile wallet offerings. It also has an e-trade platform as well as helps virtual fee of recharge and application invoice fee.

one of the matters we are doing is introducing cards with QR codes, that allows you to allow users with out smartphones to transact,” Sharma stated.

in keeping with reviews, Paytm has partnered Wipro to create the requisite technology infrastructure for the bills bank commercial enterprise.

Disclosure: Paytm founder Vijay Shekhar Sharma’s One97 is an investor in devices 360.

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Tags: Apps, E commerce, India, internet, on line Wallets, Paytm, Vijay Shekhar Sharma

Telekom Romania financial insights

Hrvatski Telekom

 

 

 

 

 

 

 

 

 

Telekom Romania’s operating profit for its fixed communications operations fell by 33% in local currency terms in 2014.

Quoting a report by the group following an obligation imposed by the regulator ANCOM and audited by PricewaterhouseCoopers, ZF adds that it amounted to RON39.6 million (€8.9 million).

It also says that the turnover generated by the telco’s fixed communications operations, which included the former Romtelecom and cable company Nextgen Communications, increased by 4% in 2014 to RON2.89 billion.

Sources at Telekom Romania told ZF that the figures contained in the report were calculated according to International Financial Reporting Standards.

They also said that financial statements for 2014 prepared in accordance with Romanian standards are still awaiting the approval of the company’s shareholders.

[“source-Broadbandtvnews”]

Internet scams cause major financial harm to Indians, study finds

Half the Indian users surveyed felt the responsibility to protect people from frauds lies with the government and 60% feel the responsibility lies with the website.

Half the Indian users surveyed felt the responsibility to protect people from frauds lies with the government and 60% feel the responsibility lies with the website.

New Delhi: Indian Internet users have suffered among the highest financial losses because of Internet scams, a survey by Norway-based telecom operator Telenor ASA found.

“For those surveyed who have been subject to an online scam in India, 90% have lost money and compared to neighbours, the amount of money stolen is the highest. Regionally the average financial loss per person is Rs.6.81 lakh ($9,900), but alarmingly in India the average loss was Rs.8.19 lakh ($12,000),” a statement on the study from the telco said.

Indians are also some of the most aware of such fraud.

“The study revealed that 85% of India’s internet users are familiar with the term ‘Internet Scam’ and feel open to online threats, with 63% saying they’re very concerned about online scams—a third more than those who say they’re concerned with muggings,” the statement said. “A further 57% know a friend or family member who has been scammed online,” the statement added.

The study further found that the top three scams in India were the ‘work from home’ fraud (39%), lottery scams (25%) and fake bank email scam (17%).

The ‘Work from home’ fraud refers to when users are duped into paying someone online to help them start a business but nothing materializes, or users are tricked into completing work but never receive payment.

Lottery scams are when users are asked to pay a processing fee so as to win a large sum of money. Bank email scams are those in which scammers pretend to be bank officials to acquire personal information to access the user’s funds.

On the prevention side, half the Indian users surveyed felt the responsibility to protect people lies with the government and 60% feel the responsibility lies with the website.

[“Source-Livemint”]

Internet scams cause major financial harm to Indians, study finds

Half the Indian users surveyed felt the responsibility to protect people from frauds lies with the government and 60% feel the responsibility lies with the website.

Half the Indian users surveyed felt the responsibility to protect people from frauds lies with the government and 60% feel the responsibility lies with the website.

New Delhi: Indian Internet users have suffered among the highest financial losses because of Internet scams, a survey by Norway-based telecom operator Telenor ASA found.

“For those surveyed who have been subject to an online scam in India, 90% have lost money and compared to neighbours, the amount of money stolen is the highest. Regionally the average financial loss per person is Rs.6.81 lakh ($9,900), but alarmingly in India the average loss was Rs.8.19 lakh ($12,000),” a statement on the study from the telco said.

Indians are also some of the most aware of such fraud.

“The study revealed that 85% of India’s internet users are familiar with the term ‘Internet Scam’ and feel open to online threats, with 63% saying they’re very concerned about online scams—a third more than those who say they’re concerned with muggings,” the statement said. “A further 57% know a friend or family member who has been scammed online,” the statement added.

The study further found that the top three scams in India were the ‘work from home’ fraud (39%), lottery scams (25%) and fake bank email scam (17%).

The ‘Work from home’ fraud refers to when users are duped into paying someone online to help them start a business but nothing materializes, or users are tricked into completing work but never receive payment.

Lottery scams are when users are asked to pay a processing fee so as to win a large sum of money. Bank email scams are those in which scammers pretend to be bank officials to acquire personal information to access the user’s funds.

On the prevention side, half the Indian users surveyed felt the responsibility to protect people lies with the government and 60% feel the responsibility lies with the website.

[“source-Livemint”]