NEWS ROUND-UP FOR THE MONTH OF SEPTEMBER
( 17/09/2022 - 24/09/2022 )
UIDAI has introduced a new layer of security for all Aadhar Enabled Payment System (AEPS) transactions. Called the “liveliness” of fingerprints, the feature is intended to prevent the use of fake fingerprints to fraudulently withdraw money through AePS.
Read now:
https://inc42.com/buzz/uidai-fingerprint-liveliness-curb-fraud-aadhar-enabled-payments/
Based on long range radio technology, IDRBT has developed a new technology that will improve last mile access to financial services for people living in remote & hilly areas. This also ensures protection from cyber attacks as risks of using third party networks can be avoided.
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UPI123Pay, the UPI product variant meant solely for non-smart phone users, is seeing good traction in its initial days of launch and has 2 lakh active users for its various services. This makes way for about 400 million users of feature phones to join the UPI payments network.
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The Pension Fund Regulatory and Development Authority (PFRDA) is looking at companies such as Ola, Uber, Amazon, Flipkart to see how gig workers and platform workers can be enrolled under the National Pension System (NPS). Till now it was mainly focusing on the government sector employees.
Read now:
https://www.financialexpress.com/money/nps-to-cover-gig-and-platform-workers-pfrda-chairman/2687900/
The new solutions being rolled out - ONDC & Account Aggregator framework combined with UPI will help a larger share of the population join the digital transaction ecosystem. It will also help to make supply chains more efficient and easier to provide products and services to everybody across the country.
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Kerala aims to help hundreds of micro, small and medium enterprises to enjoy a level playing field with e-commerce giants like Amazon and Flipkart by integrating its own e-commerce platform with ONDC. The project will see small merchants and grocery stores across the state access processes and technologies to get an on-par digital e-commerce space.