![]() Future in its appeal had said its creditors would be at “significant risk” if the Reliance deal failed.The news was a setback for Future Group partner Amazon, which had challenged the sale.īack story: The single-judge bench of the court had last week sided with Amazon and put Future’s deal with Reliance Industries on hold. The Delhi High Court has overturned an order that had halted Future Group’s deal to sell its retail assets to Reliance Retail Ventures for $3.4 billion. This proof is what attracts good investors. This culture of looking for proof is the foundation of a large company. This proof tells you that you are on the right path. Paytm came a distant third with 281 million payments on UPI and Amazon Pay was fifth with 46 million.Īnand Lunia, IndiaQuotient purpose of every round of VC capital is to create more proof, getting better at each stage. PhonePe clocked 968 million in January whereas Google Pay hit 853 million. Left in the dust: PhonePe, Google Pay, Paytm, and Amazon Pay all cornered significantly higher volumes of transactions in this period. WhatsApp Pay is guided by a separate India Payment Privacy Policy, which mandates that WhatsApp cannot share UPI data with Facebook in ‘clear format.’ How’s that privacy policy? WhatsApp’s global policy update, which stirred controversy last month, doesn’t apply to its payments service. We want to ensure that the experience for customers is smooth.” “To get the simplicity of WhatsApp’s interface for payments is a complex task. The view from inside: “We are in it for the long haul it’s a marathon not a sprint and we are in no hurry to get this piece right,” a person close to the company told ET. With current restrictions, they cannot mirror the strategies adopted by Google or Paytm in their early days.” The wait goes on: Deepak Abbot, the co-founder at Indiagold, a fintech firm, said, “I assume they will wait for some of the restrictions on onboardings to be lifted before they try to acquire more customers. “It can’t enjoy the convenience of both.” “If Twitter refuses to comply with the Indian government’s order, it should take responsibility for content on its site just like publishers do and not seek protection under the intermediary rules,” said one expert.Platform or publisher? Internet policy experts say the face-off is of global interest as it could help settle the debate once and for all: are social media websites platforms or publishers? Unofficially, the company told the government that it hadn’t complied with the order as the content in question constituted free speech. Twitter has neither complied with nor replied to the government notice so far. Who’ll blink first? Since last week the government has sent Twitter two orders requesting it to block some 1,400 handles, as well as a notice warning of legal consequences. This is the law under which over 200 Chinese apps including TikTok were banned in India last year. ![]() Section 69A also allowed the government to suspend a platform in the “national interest” and for “public order”. ![]() India is Twitter’s third-largest market, with 18.9 million users as of October.Įxplain “legal action”: Options before the government include filing a case against Twitter under Section 69A (3) of the Information Technology Act, 2000. Senior government officials have told ET that Twitter could face legal action if it doesn’t comply with requests to delete about 1,400 accounts related to the farmer protests. And find out why a US court asked the Madras High Court for help in resolving a tussle between Zoho and Freshworks. In other news, the Future Group and Reliance got a shot in the arm from the Delhi High Court while Amazon lost this round. Find out why the company can’t seem to get it right on digital payments. You’d think that WhatsApp, with hundreds of millions of users in India, would find it relatively easy to jump on the UPI bandwagon. The pressure’s been building for a week and it could all go off any day now. The government said it is considering filing a case against Twitter or suspending the platform in India if it doesn’t comply with a series of requests to block handles related to the farmer protests. ![]()
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