Google Pay not a payment system operator: RBI to Delhi High Court

#paymentsolutions #rbi #litigation #regtech #fintech #paymentservices

In an ongoing PIL, RBI has also told the Delhi High Court that since Google Pay does not operate any payment system, it does not find a place in the list of authorised payment system operators published by the National Payments Corporation of India (NPCI).

The bench said the matter requires detailed hearing as it affects other third party apps and listed it on July 22.

All FinTech startups using user consent to make payments in their payment apps should be careful and make it clear on their websites that they are not a payment register operator approved under NPCI and they are only user consent based payment solution provider.

Now the question is whether such services also come under the purview of NPCI?

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Google Pay not a payment system operator: RBI to Delhi HC

Reserve Bank of India (RBI) Governor Shaktikanta Das. The Reserve Bank of India (RBI) has told the Delhi High Court that Google Pay is a third party app provider (TPAP) and does not operate any payment systems. Therefore, its operations are not in violation of the Payment and Settlement System Act of 2007, RBI has told a bench of Chief Justice D N Patel and Justice Prateek Jalan.

The Zoho Experiment: Sridhar Vembu dabbles with Indian village offices as employees move home

#startups #distributedworking #employment #closetohome #zoho #forabettertomorrow

Amid the COVID-19 pandemic, the #SaaS company Zoho Corporation is experimenting with 10 village offices in Tamil Nadu where its staff will be able to access Zoho Corporation’s feeder offices, situated in not more than 20-30 kilometres from their home towns.

I think if distributed work culture, where people start working near their hometowns, is encouraged, then the dream of Mahatma Gandhi will become a reality in achieving true democracy in villages and stop unnecessary evil of migration in India. Such initiatives should also be encouraged for gig workers as well.

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The Zoho Experiment: Sridhar Vembu dabbles with village offices as employees move home

In the southernmost part of Tamil Nadu, closer to a tiger reserve in Mundanthurai, and the Tier-V cities of Tenkasi, Tirunelveli, is a village where Zoho Corp Founder Sridhar Vembu, from the last nine months, is trying to pull off the unexpected. Sridhar requested YourStory to keep the name of the village where he is working anonymous.

Statistics That Matter for Startups: Facts and figures for Surfactants and Bio-Surfactants

#startupideas #TAM #market #surfactants #biosurfactants #statisticsthatmatter


SURFACTANTS: FACTS AND FIGURES


Surfactants can be found in countless products in daily use all over the world. But the sales markets are changing—and so are the customers’ requirements. An overview of the facts and figures t help those who wants to venture into bio-surfactants field. The annual sales of bio-surfactants are expected to increase from $4.2 bn in 2017 to $5.52 in 2022 at a compounded annual growth rate of 5.6%.

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Surfactants: Facts and figures

Which sectors use the most surfactants? How is the global market developing? And what potential have biosurfactants? A numerical overview.

Startup Funding Alert: Canva, a startup for non-designers to design, raises $60 million on a $6 billion valuation

#startups #designs #saas #unicorns #unicornclub #startupideas

Any SaaS startup venture, which enables non-designers to design their requirements like sales pamphlets, is an opportunity even in India. Please listen to this.

Sydney-based Canva, the design platform for non-designers, has announced the close of a $60 million funding round, bringing its valuation to $6 billion, according to the company.

Canva was founded in 2012 with the mission of democratizing design tools. While many non-designers can navigate their way around Google Slides or PowerPoint, or maybe even crop an image, going more in-depth on a design project can be daunting, as the suite of tools provided to designers can be incredibly complex.

The company’s tools are meant to simplify the design process for folks who don’t work in the design department, whether it’s the sales team putting together sales materials, marketers working on content or other departments working on internal materials to send to the broader organization. The drag-and-drop interface gives folks a way to create something beautiful and impressive without having to learn Photoshop.

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Canva raises $60 million on a $6 billion valuation

Sydney-based Canva, the design platform for non-designers, has today announced the close of a $60 million funding round, bringing its valuation to $6 billion, according to the company. The startup has raised a total of more than $300 million, including this latest round of financing, from investors...