Day: February 8, 2021

How India can live up to its full potential

In a remote tribal village in Dumarthar in the state of Jharkhand, Sapan Patralekh, the headmaster of a middle school, has come up with an innovative teaching method in a region plagued by poor connectivity. He has converted the walls of adjacent houses into blackboards, allowing 300 students to continue learning while maintaining social distance.

In crowded cities, traditional mom-and-pop convenience stores and pharmacies have begun to provide contactless home delivery. Startups such as Near.Store are rolling out plug-and-play solutions to digitize traditional neighborhood convenience stores, allowing them to accept orders and payments online for groceries, medicine, and healthcare essentials, as well as making offline inventory digitally searchable by customers who live within walking or biking distance. OkCredit is using digitization to send collection notifications to customers who have delayed or missed payments, decreasing the burden on shop owners of maintaining business accounts.

On the B2B front, Bulk MRO, a

Three non-bank e-wallet players to offer PayNow, Banking & Finance

Mon, Feb 08, 2021 – 12:50 PM

E-WALLET players Grab Financial Group, Liquid Group and Singtel Dash will now also offer PayNow services – marking the first time the peer-to-peer fund transfer service is made available to non-banks.

A new PayNow proxy called the Virtual Payment Address (VPA) has been created to facilitate fund transfer between bank accounts and these e-wallets, as well as across the e-wallets. This new proxy allows individuals to link their mobile number with an e-wallet offered by non-bank financial institutions (NFIs), while keeping their existing PayNow registration that is linked to a bank account.

VPAs will be created using the users’ mobile numbers and the type of e-wallet.

Later on in 2021, users will also be able to use these NFI e-wallets to make payments to merchants by scanning their PayNow-SGQR labels, the Association of Banks in Singapore (ABS) said in a media announcement on