NPCI Announces 30 Percent Cap for Third Party UPI Apps Like Google Pay, PhonePe

first_img– Advertisement – ALSO SEE: WhatsApp Pay gets green signal from NPCIWith this new rule, the companies will see their share change — the cap of 30 percent will be calculated on the basis of total volume of transactions processed in UPI during the preceding three months on a rolling basis. According to the announcement, the TPAs that have more than a 30 percent share will have a two year period to comply in a phased manner.It’s not clear what will happen if a company hits a cap — whether it would be allowed to carry out further transactions at that point in time, or whether it would have to stop. This means that if you’re using a popular TPA like Google Pay or PhonePe, would this lead to more failed transactions? At present, this is not certain. WhatsApp is another contender in this space which has been waiting in the wings for permissions, and it has now been given permission by the NPCI to go ahead with its rollout.- Advertisement – The National Payments Corporation of India (NPCI) has set a cap of 30% on total volume of UPI transactions processed by Third Party App (TPA) providers, which will come into place from January 2021. UPI — the Unified Payments Interface — has exceeded two billion transactions, according to the NPCI, with TPAs like Google Pay and PhonePe accounting for the majority of this figure. Now, the NPCI has put a cap on the proportion of transactions that a single company can process, in order to “address the risks and protect the UPI ecosystem as it further scales up,” the NPCI wrote. This will largely affect Google Pay and PhonePe, and present an opportunity for others such as Paytm and MobiKwik. There are also concerns that by capping the number of transactions a company can do in a month, it might lead to greater failure rates of transactions.The UPI ecosystem is heavily dominated by only two companies — Google Pay and PhonePe. According to a recent report, both companies account for around 40 percent of the number of transactions — each. Aside from this, two other companies, Paytm and MobiKwik are together almost 20 percent of the UPI transactions. All other apps, ranging from the government’s BHIM UPI app, to the many bank apps, barely have any share.- Advertisement –center_img WhatsApp Pay has now been given permission to expand its users in a phased manner, with a maximum user base of up to 20 million users. To compare, PhonePe recently announced that it has hit the 250 million user mark.Why are smartphone prices rising in India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.last_img read more

LeBron James details Getty Fire evacuation, commends first responders

first_imgRondo had an MRI over the weekend that the medical staff used to diagnose a strained right calf. The veteran point guard is considered day-to-day, but he hasn’t played in any contests since the team returned from China.Kuzma is still “ramping up” his workload from an August foot injury, but Vogel sounded optimistic Tuesday morning that the Lakers haven’t ruled out the possibility of the third-year forward returning to the lineup during the team’s upcoming three-game trip through Dallas, San Antonio and Chicago. Kuzma and Rondo are expected to travel with the team.“We don’t have a game in mind,” Vogel said of Kuzma. “As soon as possible is my take on it. He did a little bit of shootaround stuff today. He’s gonna continue to ramp up his activity tomorrow, even though we’ll have an off day, and we’ll see where he’s at at that point.”Staff writers Ryan Carter and Olga Grigoryants contributed to this story. Trail Blazers, Grizzlies advance to NBA play-in game; Suns, Spurs see playoff dreams dashed AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersMany Angelenos are sleeping in unfamiliar beds as fire crews fight the blaze that has already consumed more than 600 acres and at least eight homes. James, his wife and three children are among them – he told reporters that Monday morning, he left his home with his family, his credit card and passport. Driving around the city, he walked into four hotels as his family waited in the car before finally finding temporary lodgings at around 4 a.m.James is a creature of routine, fastidious about his diet, training and perhaps most of all his sleep. He admitted the evacuation under the cover of darkness had been disruptive to all of those cycles that anchor his life – his children didn’t go to school Monday after not going to sleep until 6:30 a.m. – but now that his family is safely harbored, basketball has given him some refuge as well.James showed up Monday morning to the practice facility for his morning workout and the team’s Genius Talk, despite just about two hours of sleep himself.“It’s not hard once I know my family is safe,” he said. “My family is safe and a little discombobulated obviously because of the situation, but they’re safe and once they were safe, to be able to come back here is greatly appreciated.” Coach Frank Vogel canceled practice Monday, but said the decision was not directly related to the evacuation of James, one of the team’s biggest stars. Vogel said he did offer James the chance to take the day off, but he declined.Against Memphis on Tuesday night, James was expected to play, but Vogel acknowledged the team will likely use extra awareness and caution for his minutes.“We’ll always be attentive when there’s an adverse circumstance like this,” Vogel said, “just to keep an eye on it, and probably overcommunicate with him on how he’s feeling.”While his home is still standing, James said, it’s not yet in the clear, making it one of the estimated 7,100 homes still under threat of damage by the wildfire, which started early Monday morning.James said the experience had given him a special appreciation for the first responders fighting the Getty fire.“Those guys – men and women – are unbelievable, what they’re doing and their bravery throughout this time,” he said. “And anytime you’re dealing with such a situation like that, they’re the reason why things can be a lot less worse than they possibly could be. So, it’s an amazing job what they do and their commitment with what’s going on right now.”James’ appreciation was not limited to words: The Lakers forward – famous for his love of “Taco Tuesday” – paid for the Mariscos Jalisco taco truck to stop by the emergency responders’ base camp where they were treated to free lunch on Tuesday. Lakers practice early hoping to answer all questions Lakers, Clippers schedules set for first round of NBA playoffs Trail Blazers beat Grizzlies in play-in, earn first-round series with the Lakers EL SEGUNDO — The first alert on his phone came around 1:30 a.m., just a few hours after LeBron James and the Lakers had finished wrapping up a 120-101 win over Charlotte.The second came about 15 minutes later, and 15 minutes after that, the James family had shaken off their sleep enough to pack up and take flight from their Brentwood home, joining an estimated 20,000 Los Angeles residents who had to evacuate the potential path of the destructive Getty wildfire.Because it doesn’t matter if you’re a prince, a pauper or a four-time NBA MVP – when a fire threatens, you have to run.“I was talking to my wife about it a little bit and I said I hadn’t been in a fire drill since like the seventh grade,” James said Tuesday, a day-and-a-half after being evacuated from his neighborhood. “It’s just challenging at that hour, getting my family, getting my kids, getting everybody and having to evacuate at such a rapid rate. You don’t really have much time to think about what you can get or what you can do.” How athletes protesting the national anthem has evolved over 17 years Raul Ortega, the 56-year-old owner of Mariscos Jalisco taco truck, was happy to help.“It’s a big compliment, and it will help our business,” Ortega said in a phone interview. “But I’d be glad to help even if I was not compensated. It’s a good cause to help people who are risking their lives to help others.”He added that “LeBron is a good guy. He evacuated his house and he looked for ways to pay back.”Ortega said he spent two hours on the UCLA campus on Tuesday afternoon, making hard-shell tacos and feeding about 200 firefighters.INJURY UPDATES ON RONDO, KUZMAAfter Tuesday’s shootaround, Kyle Kuzma and Rajon Rondo challenged assistant coaches Miles Simon and Mike Penberthy in a 3-point shooting contest that is a typical part of the fabric of Lakers practices. But while the duo seemed to be having a good time on the court after the morning workout, neither was scheduled to see the court Tuesday night against the Grizzlies.Related Articles Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Video Transforming Adults Only A Neighborhood Interaction

first_imgAnchorage is saying adieu to the building that housed the last self-described sex business in Anchorage, and it’s going out with quite a bang. Throughout April, the Light Brigade and friends teamed up with the Writer’s Block and Cook Inlet Housing Authority, to put on a large scale art exhibition and community event.Inside the eventNew owners of the property saw a unique opportunity in the building before tearing it down. After teaming up with local artists and community outreach organizers, the concept for “Transforming Adults Only, A Neighborhood Interaction,” was born.The team opened it up to artists from around the city, to do with it what they wanted, while their community engagement team worked to spread the word to Spenardians. Murals, portraits, drawings and performances echoed through the halls of this once seedy building. Meanwhile, outside the community outreach team gathered information from Spenard residents, capturing stories and quotes on video and posters lining the fence.After the final exhibit, on Friday, April 29, 2016, the building will be demolished. In the fall of 2016 a family friendly bookstore and cafe will stand in the place of Adults Only, welcoming artists from all over.last_img read more

Conservation groups tell Costa Ricas Chinchilla Throw out the Fisheries Institute board

first_imgEight Costa Rican and international environmental organizations united under the umbrella group Frente por Nuestros Mares recently sent President Laura Chinchilla a letter with more than 6,500 signatures calling for the reform of the Costa Rican Fisheries Institute (Incopesca), the agency charged with regulating the country’s marine resources.The group continues collecting signatures for the petition online here. That petition calls for, among other things, the elimination of Incopesca’s board of directors, which critics note is loaded with commercial fishing interests, a reality that Chinchilla’s own Cabinet-level National Marine Commission acknowledged last year.Environmental groups accuse Incopesca of “ignoring its mission to protect marine resources and favoring the interests of industrial and semi-industrial fishing fleets,” according to the petition.Incopesca’s charter tasks the agency with “promoting, based on scientific and technical criteria, the conservation and sustainable use of aquaculture and marine biological resources.” Yet its nine-member board includes representatives from fishing organizations in each of the three coastal provinces – Puntarenas, Guanacaste and Limón – as well as representatives from the commercial fishing export sector and the National Commission on Aquaculture and Fish.“You cannot be judge and jury, and Incopesca flagrantly violates this principle,” the group charges.The campaign lists 10 reasons why Incopesca officials are failing at their jobs, and notes that at least one board member – executive president Luis Dobles – is under criminal investigation for derelict of duty.In addition, in August 2012, the Chinchilla administration fired Incopesca Vice President Álvaro Moreno for ethics violations that included representing the shrimping industry as an attorney while working for the agency tasked with regulating it.A complaint filed by the Public Ethics Office earlier that year stated that Moreno provided legal consul to a group of fishermen who were detained in 2009 for fishing without using Turtle Excluder Devices, which are required by law, while acting as Incopesca’s vice president. He served as acting president of the agency on several occasions when Dobles was out of the country.The NGOs also accuse Incopesca of an “irregular” program to provide subsidized fuel to the fishing industry, failure to prevent overfishing by shrimp and tuna fleets, and inaction on shark-finning. And they say Incopesca has fallen short on efforts to support artisanal fishermen who can’t compete against industrial fleets.Dobles, whose relationship with conservation groups could be described as contentious at best, responded to the campaign by telling The Tico Times that environmentalists’ arguments “are really old.”“They regularly launch these campaigns to keep their presence in the media alive,” he said.The structure of Incopesca’s board “is not my invention, nor the agency’s, nor even the current administration’s. It follows the law that created Incopesca,” he said.Dobles added that Incopesca was created by an executive decree in 1994, and the establishment of the board is outlined in Article 7 of that law.“Only the Legislative Assembly can order a change in the administrative structure,” he said, adding that a similar recommendation was ruled out by a “committee of government officials last year.”In 2011, representatives of five government ministries formed the National Marine Commission at Chinchilla’s request to study and draft new policiesfor the protection of marine resource and the management of Costa Rica’s ports.The commission recommended revising Incopesca’s charter to ensure the agency maintained independence and acted in the public interest.Last January, a blue-ribbon panel also created by Chinchilla issued 95 recommendations to improve the country’s governance. The panel recommended the elimination of the boards of 83 government agencies.“We will accept any decision on this matter, but according to the law, it has to come from the Legislative Assembly, not the executive branch,” Dobles said.The campaignFrente por Nuestros Mares is using its website and Facebook page to highlight the damage caused by industrial fishing to marine ecosystems and to artisanal fishermen in Costa Rica.The campaign includes infographics, memes and two video testimonials highlighting the environmental consequences of commercial fishing, particularly by shrimping fleets “that are sweeping away the seabed.”The spots include testimonies from Central Pacific fishermen who narrate how their catch is insufficient even for personal consumption because of the desolation left by large fishing fleets.The videos also include opinions by experts including Álvaro Morales, director of the University of Costa Rica’s Oceanic Sciences and Limnology Research Center, who said that marine resource exploitation in Costa Rica “has been too severe,” and that he believes “the country’s fishing fleet has been allowed to increase without any planning or consideration for marine resources.”The Frente includes conservation groups Pretoma, Keto, Promar Foundation, International Student Volunteers, Sea Save Foundation, The Leatherback Trust, UESPRA and Widecast.As of Wednesday, the Frente had received no response from government officials. According to Pretoma’s Mariano Castro, the group will meet next week to evaluate the campaign’s response and to plan future actions. Facebook Comments Related posts:President Chinchilla pushes for elimination of Incopesca’s board of directors Tuna company, fishermen and environmental groups squabble over unpublished fishing decree Costa Rica’s dolphin-safe tuna designation under scrutiny Winners of Costa Rica Fishackathon create tool to help track fuel subsidies for fishinglast_img read more