eNews
Cyber security can save up to Rs 540 cr each year; Paytm in 10 Indian languages
MUMBAI: As companies increasingly get on to harnessing the benefits of the networked world, overlook the associated threats, said a cyber-security expert and ethical hacker on the lack of awareness around the emerging threats at the BFSI Tech Maestros Awards & Conclave 2016. The expert — TAC Security founder & CEO Trishneet Arora was one of the panelists on the panel at the conclave.
Paytm meantime is set to unveil its multilingual interface to enable millions of Indians to overcome language barriers and pay and shop in their preferred regional language.
After the limited demonetization, online transactions have seen a spurt, and the trend is likely to continue. This gives rise to the challenge of ensuring the transactions are safe and secure, the identity of the individuals is not compromised and the organizations operate smoothly. Cyber security experts can play an important role in identifying loop holes and providing a solution.
Arora said, “Credit card frauds cost banks and credit card companies over US $8 billion (Rs 540 crore) each year. Apart from the Apple Pay fraud, such large-scale mobile wallet frauds have not been witnessed so far, if we discount customer carelessness. However, there is an immense lack of awareness to understand this risk. Several business personalities are not taking cyber threats seriously.”
“There is only one way to be alert and safe in today’s cyberspace and that rests on knowing your vulnerabilities and patching them before any fraudulent hacker can use it adversely,” he concluded. Recently, details of more than 3.2 million debit cards of some of the banks faced the threat of breach due to hacking.
The user interface of India’s largest mobile payments and commerce platform on Android will be available in — English and in 10 different regional languages – Hindi, Tamil, Telugu, Gujarati, Marathi, Bengali, Kannada, Malayalam, Oriya and Punjabi. Paytm, which is India’s payments and commerce platform to offer multiple regional language interface, has expanded its reach to over 80% smartphone users in India, who prefer internet-based services in regional languages.
Paytm senior vice president Deepak Abbot said, “With this new move, we are looking to push our share of customers from tier II and tier III cities from 50% to 70%.”
eNews
PNB partners Kiwi to launch credit-enabled UPI for users
Targets 180 million customers; RuPay card offers 0.5 per cent to 1.5 per cent cashback
MUMBAI: Swipe, tap, or scan credit is quietly slipping into the rhythm of everyday payments, and Punjab National Bank wants in on the action. The state-run lender has partnered with Kiwi to roll out credit-enabled UPI payments for its 180 million customers, marking a significant push to blend traditional banking with India’s fast-evolving digital payments ecosystem.
At the centre of the collaboration is the launch of the PNB Kiwi Credit Card on the RuPay network. The card is designed with a digital-first approach, offering fully online onboarding and seamless integration with UPI, allowing users to transact via scan-and-pay while accessing credit.
The offering also brings in a rewards layer, with cashback ranging from 0.5 per cent to 1.5 per cent on online transactions, positioning the product as both a convenience play and a spending incentive.
The move comes as UPI continues to dominate India’s digital payments landscape, increasingly blurring the lines between debit-led transactions and credit access. For PNB, which operates over 10,000 branches around 60 per cent in semi-urban and rural areas, the partnership signals a targeted effort to extend formal credit to segments that have traditionally remained underserved.
The collaboration also reflects a broader industry shift, where banks and fintech platforms are converging to embed credit directly into payment flows, reducing friction while expanding access.
With RuPay credit cards gaining traction and UPI evolving beyond peer-to-peer transfers, the PNB–Kiwi tie-up positions both players at the intersection of scale, accessibility, and the next phase of digital finance in India.
