Last month, Amazon India announced, without much noise, that it would allow Amazon Pay users to transfer money to each other through Unified Payments Interface (UPI), one of the most popular routes for making online transactions in the country. It is the e-commerce giant’s biggest recent decision in the digital payments segment, marking its entry in what promises to be a global battle for this market. Amazon Pay will jostle for a bigger slice of peer-to-peer (P2P) transactions against incumbents Paytm, which is backed by Alibaba and Soft-Bank, Flipkart’s PhonePe, and Google Pay, besides potential entrants such as Facebook owned WhatsApp and Mukesh Ambani’s Reliance Jio.

Publication : The Economic Times

Date : May 26, 2019

At present, startups comply with a plethora of requirements such as goods and services tax filings, tax returns and other local laws every month, the official said. Compliance to these processes takes a lot of time and cost. “Monthly compliance for startups needs to be reduced to one hour per month so that they can concentrate on their core work,” the official said. MicroGo LLP Founder Rachna Dave said, “Reducing the compliance time to one hour will be an extremely welcoming step giving startups enough time to focus on their core activity. It will also create a stronger startup support ecosystem in the country”.

Publication: Bloomberg Quint 

Date : May 26, 2019