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NFC Payments: Revolution in the Retail! Mastercard Inc, The American Express Company, Visa Inc., Apple Pay, PayPal Payments – KSU

/NFC Payments: Revolution in the Retail! Mastercard Inc, The American Express Company, Visa Inc., Apple Pay, PayPal Payments
NFC Payments: Revolution in the Retail! Mastercard Inc, The American Express Company, Visa Inc., Apple Pay, PayPal Payments
tusharMay 10, 2021
NFC Payments Market Outlook – 2027
The market for NFC payments has experienced significant growth and is anticipated to expand in the future with growing cash less and contact less payment preferences. NFC payments are contactless payments, which use near-field communication (NFC) technology to share data among readers and mobile systems such as Apple Pay and Android Pay eWallets and EMV chip cards. NFC transactions are authenticated and extremely protected and the NFC devices must be near together to proceed with transaction. The moment when payment and reader devices are brought close together and activated, NFC chips interchange cryptographic data to render the transfer complete. The cycle produce ....

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Social Commerce Market Trending Technologies with Growth Prospectus by 2027 - Pinterest, Poshmark, Inc., Reddit Inc., SINA

Social Commerce Market Trending Technologies with Growth Prospectus by 2027 - Pinterest, Poshmark, Inc., Reddit Inc., SINA
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PayPal India plans to hire 1,000 engineers for its development centres

PayPal India plans to hire 1,000 engineers for its development centres
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PayPal shutting payment gateway biz in India, to focus on cross-border

February 5, 2021
PayPal India will shut down its payment gateway business in India from April 1, 2021 onward, but it will continue to provide payments services for cross-border trade, a spokesperson from the company said in a statement. The company processed $1.4 billion worth of sales for more than 360,000 merchants in the country in 2020, they said.
The company at present has a payments gateway business and cross-border trading platform, enabling local businesses to export their products abroad. “We believe PayPal can have the greatest positive impact in India’s economic recovery by pivoting our business to support our customers where they need us most. From 1 April 2021, we will focus all our attention on enabling more international sales for Indian businesses, and shift focus away from our domestic products in India. This means we will no longer offer domestic payment services within India from 1 April,” a spokesperson for PayPal said. ....

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Delhi High Court Stays ₹96 lakh FIU penalty on PayPal

January 18, 2021
The Delhi High Court on Monday stayed a penalty issued by the Finance Ministry’s Financial Intelligence Unit (FIU) against PayPal Payments Private Limited, the global payments giant’s Indian arm, according to LawStreet India. In December 2020, the FIU imposed a ₹96 lakh penalty against PayPal India over non-compliance with norms laid out in the Prevention of Money Laundering Act, 2002 (PMLA).
PayPal filed a case with the Delhi High Court challenging the FIU penalty earlier this year. While the court has stayed the penalty, subject to PayPal providing a bank guarantee, it has asked the Reserve Bank of India and the Ministry of Finance to clarify its stance on companies like PayPal’s reporting to the FIU. ....

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