Digital payments will account for a 71.7 % share of all transactions in India by 2025, said a report by ACI Worldwide, a provider of payment solutions to enterprises. The rest (28.3%) will be by cash and cheques. The report claimed that in 2020 India was ahead of China with 25.5 bn real-time payments transactions, compared to Beijing’s 15.7 bn. In 2020, instant payments accounted for 15.6 %, electronic payments 22.9 % and cash and cheques 61.4 %, the report said.
IBM launched `Call for Code Global Challenge’ for the year 2021, inviting software developers and innovators across the globe to combat climate change with open source tech. This is the fourth year for the challenge which has grown to over 4 lakh developers participating from 179 countries to develop 15,000 apps. IBM, in recognition of the extraordinary engagement from Indian developers, has announced a standalone award of $ 5,000 for the country.
BCG India has appointed Saurabh Chandra as MD. BCG, founded in 1963, is a Boston headquartered American management consulting firm having offices around the world. Chandra has recently been appointed as a board member at Nepal-based E-com firm Sastodeal. He is having over 20 years of experience in managing tech and business. Chandra, in his last assigned at Amazon India as Head of Engineering, incubated the Data Analytics and ML platform.
India will table a bill to ban cryptocurrencies, fine traders or even holding such digital currencies. The bill is said to be one of the world’s strictest law against cryptocurrencies as it will criminalise possession, issuance, mining, trading and transferring of cryptocurrencies. India, when the bill become law, will be the first major country in the world to make even holding these digital currencies illegal. China has banned mining and trading but does not penalise possession.
Salesforce has appointed Sanket Atal as Senior VP and MD, India. Atal will officially join the cloud computing firm on March 15 and will report to Arundhati Bhattacharya, CEO and Chairperson, Salesforce India. In his new role, Atal will be responsible for driving the next level of growth for Salesforce in the country having has the second-highest employees workforce outside of the US. The form has over 4,000 employees in Hyderabad, Mumbai, Delhi and Bengaluru.
IBM said India faced the second-highest number of cyberattacks in the Asia Pacific in 2020 after Japan, constituting about 7% of all attacks in the region. The finance and insurance sectors were the most targeted followed by manufacturing and professional services. According to IBM’s 2021 X-Force Threat Intelligence Index, 40% of all attacks were ransomware attacks. The remote working and learning introduced due to pandemic have to lead to a surge in the number of cyberattacks.
A study by global professional services firm Aon said, India Inc is likely to provide a salary hike of 7.7% in 2021. It analysed data across 1,200 companies from more than 20 industries and concluded that about 88% of the surveyed companies intended to increase salaries in 2021. This indicates a strong economic recovery and a positive business sentiment.