@logic's Threads
QR code option may be must for shops toi.in/AkXzyY66/a24gk via @TOIBusiness | This take over of cash by a lobby is suicidal for the economy. #Thread time #CashlessConsumer
The above story starts from 29th @GST_Council meeting where GoM on digital payments discussed incentivising digital payments. The minutes are at gstcouncil.gov.in/sites/default/… …
Start at Page 29.
Start at Page 29.
The incentive is restricted to @NPCI_BHIM and @RuPay_npci cards - casually mentioned in 8.13 as "Government·oflndia owned cards i.e. RuPay (Debit card) and tlle BHIM application"
Plain lies being used to divert sovereign tax to a private company. If this is not scam, what is?
Plain lies being used to divert sovereign tax to a private company. If this is not scam, what is?
Dear @rssharma3 This is NOT about #Aadhaar, but your data is being leaked by @PayUmoney I just had to enter your email ID to get your stored card. I don't know how you see this. #Privacy #DataProtection
1. Please Delete your stored card from payumoney.com/customer/dashb…
1. Please Delete your stored card from payumoney.com/customer/dashb…
The issue was reported to PayU months back, but the company seems to not understand the issue of tokenized card information exposing last 4 digits as a privacy issue.
netspaceindia.com/warning-payu-u…
netspaceindia.com/warning-payu-u…
This was what @PayUmoney had to say when @jaivardhan88 of @entrackr asked them about it few months back.
Modi's Plan To Turn Rural Women Into Entrepreneurs Is Putting Them In Debt Instead huffingtonpost.in/entry/modis-st…
Muruganathan : Muhammad Yunus :: Sanitary Pads : Microfinance.
The (World) Banks (commercial) interest in selling loans by using social good as a cushion for marketing. Reality bites, It was micro finance suicides in AP, unsustainable debt here.
The (World) Banks (commercial) interest in selling loans by using social good as a cushion for marketing. Reality bites, It was micro finance suicides in AP, unsustainable debt here.
Stree Swabhiman had free marketing costs through #Padman But it could only take it that far. As elections are around and enough time for benefit of doubts are given, non starter scams will come out.
Repeat after me: #FASTag is an asset monitoring technology for the lenders (highway traffic measurement for infrastructure assets & vehicle control -- toll block / geo-fence -- for vehicle loans) masquerading as toll collection technology providing convenience.
Repeat after me: #BBPS is an investment lead generation technology for the lenders (consumption data of utilities for infrastructure for equity investments & family consumption/scoring for household finance) masquerading as bill collection technology providing convenience.
Repeat after me: #GSTN is a trade surveillance technology masquerading as simplified(!!) tax collection technology.
Another story on #PayTech from @TheKenWeb, this time on @BharatBillPay #BBPS and NPCI being a behemoth the-ken.com/story/knock-kn…. Time for thread again, full disclosure I haven't read @tam_arund piece since I dont subscribe.
First up some fact checking on email, tweets. Then some commentary about BBPS, then the larger idea of NPCI being the behemoth, what it means to industry, @CashlessConsumr and the whole data game.
First, commentary on the email from @r0h1n
// Because there’s just no telling when it will decide to become a competitor. //
They are in for it to super control the market, not compete. Even on BHIM in UPI, technically, NPCI is operator, the banks are the players market wise.
// Because there’s just no telling when it will decide to become a competitor. //
They are in for it to super control the market, not compete. Even on BHIM in UPI, technically, NPCI is operator, the banks are the players market wise.
A thread on #UPI PSPs who come in all shapes and sizes, Some history from 2016, some thoughts on bank led model, API gatekeeping, unbundling of #UPI, hierarchy of players, business impact.
#UPI hit the market with ~18 banks going live in July 2016. All of them released an app, had their own PSP backends, were issuers. A week later @PhonePe_ became the first non-bank PSP with an YesBank partnership operating its own PSP backend.
Days later few more apps built by startups hit. All of them with YesBank partnership, using Yesbank PSP backend. SBI and HDFC were largely holdouts to UPI, did not have choice but to launch post #DeMo
Now that the lawyers have run their marathon and we wait for the top court to rule, a small personal diary note thread on #Aadhaar & me.
Huge thanks to community of people who have widened my wisdom of how society works. Fellow helpless people helping each other.
Huge thanks to community of people who have widened my wisdom of how society works. Fellow helpless people helping each other.
It started sometime in 2011, when I knew nothing, enrolled along with family.But our enrollment packets were lost, EID wasnt even searchable. I did write some emails to support, but yielded nothing more than, please enroll again. As the need wasn't real, did not enroll.
Parents gave up at a later date, enrolled, got UID successfully generated. I resisted, mostly because of laziness, but did not have developed trust enough to enroll. On random browsing sessions, have heard Usha Ramanathan on YouTube, but never took deep dive into issues.
Thread on Billgates connection to #Aadhaar. Does he know enough to comment (of course he knows a lot more, deep intentions, interests). Now that he himself has repeated the fact that, his "charity",WB are interested in it, like to fund the initiatives, lets look at larger picture
Read "Digital Poverty Stack". I will summarize these posts
Part 1 nextbillion.net/nexthought-mon…
Part 2 nextbillion.net/its-the-ecosys…
and add additional context on players.
Part 1 nextbillion.net/nexthought-mon…
Part 2 nextbillion.net/its-the-ecosys…
and add additional context on players.
Note that @India_Stack and Level One Project are parallel initiatives in India and Africa respectively? Why only these two geographies? Why not elsewhere?
Besides the usual guinea pig theory, the other common thing is, these are geographies where "Development finance"
Besides the usual guinea pig theory, the other common thing is, these are geographies where "Development finance"
I dont have any soft spots for @NandanNilekani, but this needs demystifying for people to see larger picture and not get personal, potshot happy and forget, but its important to understand what ROHINI is, what the healthcare agenda is, so Thread.
IIB is registered society, promoted by insurance industry as an agency to provide sector level cooperation. Regulators : Industry bodies :: RBI-TRAI-IRDA : IBA / NPCI-COAI-IIB. These industry organizations exist to shape larger policy around industry to safeguard themselves
IIB was formed in *2009* and ROHINI is health insurance market analyzing product which the insurance industry needs. That they have effectively lobbied regulator IRDA to make it mandatory is another thing, all these before *Modi care*
Classic example of disasters in not differentiating aadhaar authentication, eKYC, eSign, eMandate. Everything needs only one OTP and no knows what transaction happens in backend. @India_Stack will be happy because all they care is volumes not user interest. #Consent #Fraud
A simple way of fixing this mess, is to not allow signatures by just sharing OTP, but involve some bit of user action and adding friction to make sure signatures can't be made with just OTP. User can send a SMS from registered mobile with SIGN <OTP_SENT_TO_ENTITY> to get SIGNOTP
What this would mean is, while signing is still happening through the same set of APIs, it codifies user action, which reduces frauds like these. eSign still has more issues, but this is rudimentary.
Summarizing this on a thread below; User awareness, increased regulatory oversight needed for your paisa to be safe from fraud; There are risks that have escalated to fraud (Social Engineering attacks, Consent theft) and there are risks (Identity theft) 1/
1. Soc Engineering attacks -- People (incl a RS MP) have lost money to tricksters. Solution -- Never ever share any OTP to anyone on phone. Keep repeating this and spread to everyone you know.
Ask your MPs, banks, mobile operators, service providers to #SpeakForMe against the Aadhaar linking coercion. speakforme.in | Follow the thread to know more about the risks of aadhaar, long thread on issues several of us are concerned
#SpeakForMe Everyone is concerned with data protection, while a govt committee is formed & is accepting comments, we are deeply concerned about lack of accountability. @anivar writes on #AadhaarLeaks of how @UIDAI itself leaks Aadhaar medium.com/karana/when-ui…
#SpeakForMe #Aadhaar saves money. Does it? What does data tell us? Read @iam_anandv exposing dubious savings claim in MNREGA using Aadhaar. GoI claim 7633 Crores; GoI data 30.03 Crores. More at medium.com/karana/uid-sav…
“UIDAI Authentication data analysis” by @iam_anandv medium.com/@venkatanaraya… | Numbers don't lie. #Opendata
Only 2.20 Crore people actually consented to linking PAN-Aadhaar, everyone else was demographically authenticated and seeded by agency. #Consent
Why does Airtel, Jio have 3-4 times transaction volumes of their customer base. Auth failure / non consensual payment 🏦 account opening?
