#MarketWire is a quick round up of notable business movements of the day. This segment features news from HDFC, Google, Indian Government and Flipkart.
After Yes Bank, HDFC Partners with UltraCash for Contactless Payments
HDFC has partnered UltraCash, a high frequency sound wave technology – based payments application that relieves you of your wallet and cards. Companies like Paytm, ToneTag and Tech Mahindra’s MoboMoney has already adopted the sound wave technology. With this technology phones that do not support near field communication (NFC) and do not have access to internet can easily transfer money, all they will be needing is only app.
The merchant and customer phones will be paired using end-to-end encryption and a unique identifier which makes it completely safe and secure. It will take 5 seconds to complete the transaction between two parties. Read More
Also Read: UltraCash in trying to become the next big thing in mobile payment.
Google Street View Proposal Rejected by Indian Home Ministry on the Ground of Security Issues
Indian home ministry has denied permission to Google’s proposal to cover Indian cities, tourists spots, hills and rivers through its street view application on security concern.
According to sources, the government wants the pending Geospatial Information Regulation Bill to be enacted before considering the internet giant’s application afresh which means Google will have to wait for a year or two before they could capture street-level images of the country’s cities.
Google Street View, is a technology featured in Google Maps and Earth that explores places through 360-degree, panoramic and street-level 3D imagery. Starting from cities of US in 2007 the feature has since expanded to include cities and rural areas worldwide. Read More
Peeyush Ranjan Promoted to Flipkart’s Group Chief Technology Officer
India’s largest eCommerce platform, Flipkart has restructured its technology team, former engineering head Peeyush Ranjan has been appointed as Group Chief Technology Officer. Moreover, he would look into areas of mobile technologies and machine learning while heading the technology strategy at Flipkart. Peeyush left Google in April last year to join Flipkart. This is for the second time the company has changed its technical team this year.
Amazon.com Inc. and Micromax Informatics executive Ashish Agrawal has also been hired as senior vice-president of engineering. Agrawal is supposed to join Flipkart this month. He will be the engineering head of the consumer shopping experience. Read More
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