eNews
India’s 400 mn smartphones generate 80% data traffic: FB’s Umang Bedi
MUMBAI: India has 400 million smart phones that account for 80 per cent of internet data traffic at present and when many non-feature phones will start getting replaced or include features facilitating internet access, it will change the way how data is accessed, according to Facebook managing director, India & South Asia, Umang Bedi.
Speaking at the IAMAI event here on Tuesday, Bedi, while highlighting how over a decade back (united) Reliance brought in revolution in India by introducing cheap mobile handsets and competitive plans for consumers, said the launch of Jio service by Mukesh Ambani-promoted Reliance Industries earlier this year is bringing about a similar revolution by employing disruptive marketing tactics and pricing that is again changing the way India consumes data.
Bedi, who was speaking extempore at the event, said there are three Indias that needs watching and from where growth likely to come.
The first India, he mentioned, is the one that subscribes to books on e-retailers like Amazon, shops on Flipkart and rides on Ola cabs rides, which is similar to what is happening in the West. According to Bedi, India today is a growing digital market registering a 35 per cent growth worth USD 1.8-2.8 billion.
The second India, according to Bedi, is the mass India that lives in tier 2 and 3 cities /towns where people have money and aspirations but no access to affordable Internet. And, the third India comprises about 25 million people living in rural areas for whom new solutions and methods to reach them are needed. Reason: It’s this huge mass that will become a big consuming market in near future.
As disruption seemed to be the underlying theme of the digital economy, Bedi dwelt on the disrupters theory, fathered by Clayton Christensen, saying disruption is happening in the digital sector and it’s being done by the likes of Amazon (from selling books to etailing electronics appliances, smart phones, etc) and Uber.
Pointing out that Amazon and Uber were the “biggest disrupters” in today’s world, Bedi also issued a warning to all marketers saying that unless business people remained “humble”, they themselves may find disrupted.
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
