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Tag: payment (page 1 of 1)

Payments feature to be released on Clubhouse, to comply with new IT rules

The recently popular audio chatting app, Clubhouse, will introduce payment features in India. This will enable users to pay creators who host shows. They are also working to comply with the new IT rules. The clubhouse has been downloaded over 1mn times in India and over 2.6mn globally. The company is also looking to launch tips and subscriptions in India with no fixed timeline mentioned. The new feature will help creators monetise their content.

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PayPal’s Venmo allows crypto buying, selling, holding 

One of the most popular payment app in the USA Venmo has allowed users to buy, hold and sell cryptocurrencies on its platform. The 70 million users of the app, owned by Paypal, will now be able to trade digital currencies including bitcoin, ethereum, litecoin and bitcoin cash. Venmo is quite popular among the younger generation who use it to pay friends and family. The app has processed around $159 bn of payments during the last year.

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SBI, JPMorgan’s partner to use blockchain-based payment network

SBI and JPMorgan have teamed up to use the US bank’s blockchain tech to speed up overseas transactions. The partnership will reduce SBI customers’ transaction costs, time taken for payments and make it easier to resolve cross-border payments-related inquiries to a few hours from up to a fortnight. Venkat Nageswar, deputy MD – international banking group, SBI said that they are excited to be the first bank in India to go live on the network.

ICICI Bank introduces cardless cash withdrawal using iMobile App

ICICI Bank introduced a cardless cash withdrawal system using which, customers can withdraw cash from the bank’s ATMs without using their debit cards. ICICI Bank says that customers can now use the iMobile app to withdraw cash in a simple and safe mode. The service is now available across 15K ICICI Bank ATMs across the country. The new withdrawal system is faster and also eliminates the risk of card skimming as it does not require card or ATM pin.

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Email spoofing: Nykaa loses Rs 62L to cybercriminals

Cybercriminals spoofed the email id of Nykaa’s Italian vendor and tricked the company into sending payment to some other bank account. Nykaa was informed that all future transactions will be conducted through the same account. The company lost Rs 62L to the scamsters. However, it reported no breach of consumer data. The fraud was discovered when the original vendor asked for the payment. 

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