Zomato haswithdrawn exclusivity rights for restaurants operating out of its cloudkitchen facility, according to six brands using the service and emails seen by ET.The move — which essentially allows these restaurants to list on rival platforms such as Swiggy — underlines a major shift in strategy for Zomato, which had pegged exclusive supply on its […]
Paytm to monetise offline merchant base; plans to cut losses by half: CEO
Vijay Shekhar Sharma Financial services and commerce platform Paytm plans to cut annual losses by half over the next two years, CEO Vijay Shekhar Sharma told ET. This will be done by monetising its offline merchant base, scaling its merchant network, and rolling back on discounts across businesses, he said. The SoftBank and Alipay-backed company […]
$1billion investment is not to provide deep discounting or cover losses: Amazon India
Ecommerce giant, Amazon India, is categorical that the $1 billion investment announced by Jeff Bezos during his recent trip to India would be used for long-term development of its operations and not for deep discounting or cover losses. “A lot of our investment is focused on the long-term and if we only look at the […]
Paytm eyes onboarding 10M merchants with addition of PoS machine, new solutions
Paytm on Tuesday said it aims to add close to 10 million merchants to its platform over the next 12-18 months as it brings new features to its payments platform. The company, which has introduced a new all-in-one payment gateway and business solutions as well as an Android-based point of sale (POS) machine, currently has […]
Nilekani says MDR would have trended to zero even without government
Infosys Chairman Nandan Nilekani said the merchant discount rate (MDR) would have trended to zero even if the government had not gotten involved and said payment providers in India should focus on budget payments that will help small merchants across the country. MDR is a fee that is levied by banks on merchants for the […]
How Walmart’s taking on Amazon, with help from Indian engineers
Amazon has hit almost every US retailer adversely. An exception has been Walmart. At over $500 billion in revenue, it remains more than twice as big as Amazon. In 2019, its share price rose 27%, much faster than Amazon’s and among the fastest in the Dow Jones index. The stock price surge actually began in […]
Delhi’s digital poll war: ‘Lage raho’ vs ‘Dil mein’
Digital campaigning for Delhi’s election scheduled on February 8 is a battle between the two most proficient political messengers on social media — BJP and AAP. A portacabin inside Delhi chief minister Arvind Kejriwal’s official Civil Lines residence is Aam Aadmi Party’s (AAP) digital headquarters. The messaging this time, says AAP’s social media head Ankit […]
Behind Amazon’s HQ2 fiasco: Jeff Bezos was jealous of Elon Musk
When Elon Musk secured $1.3 billion from Nevada in 2014 to open a gigantic battery plant, Jeff Bezos noticed. In meetings, the Amazon.com Inc. chief expressed envy for how Musk had pitted five Western states against one another in a bidding war for thousands of manufacturing jobs; he wondered why Amazon was okay with accepting […]
India is next playground for game development
India is becoming a development hub for games, opening up job opportunities in the sector. Currently, close to 23,000 gaming-based job openings are available, with salary packages ranging from Rs 3 lakh to a little over Rs 40 lakh, according to specialist staffing firm Xpheno. UBISOFT, 99Games, GSN, Moonfrog Labs, EA, Nazara Technologies, Octro and […]
German firm finds 1million files of Indian patients leaked
Nearly one million medical files and 107 million related medical images of Indian patients, including X-rays and scans, are freely accessible on the internet, an investigation by German security firm Greenbone Networks has found. The records and images include details such as patient name, date of birth and ID, name of the medical institution, ailment, […]