Google integrates its mobile payment app with SBI

28 February 2018, 12:20 PM
File Photo
File Photo

Global search engine giant Google on Wednesday integrated its mobile payment app, Tez with the nation's largest lender State Bank under which its cusomters can create an SBI  UPI Id--@oksbi and get access to exclusive SBI offers.

SBI and Google's will work towards a wider adoption of digital payments and focus on building unique propositions for users and merchants including specially curated offers.

"We already have a multitude of services including e-commerce and m-commerce, and this partnership with Google Tez will drive innovation and deliver exciting new opportunities for our 40 crore plus customer base," SBI chairman Rajnish Kumar said, adding SBI has about 2 million transactions through its  UPI app every day.

"We are still in very early stages of building avibrant digital payments ecosystem that brings together millions of smartphone users, small merchants, large businesses, and financial institutions. This is an important step forward in that journey," Diana Layfield, a vice- president at Google said.

Tez, since its launch last September has processed over 250 million transactions and has over 13.5 million monthly active users. 

Cipla to sell Roche's innovative drugs Pharma major Cipla today entered into an agreement with Roche Pharma to market innovative medicines like Tocilizumab and the second brand of Roche's cancer therapy, Bevacizumab, in the domestic market.

This partnership is in line with Cipla and Roche's efforts to improve healthcare and increase access to innovative, life-changing medicines in the domestic market, particularly to patients who currently do not have access to them, Cipla said in a statement today.

"The prevalence of cancer and rheumatoid arthritis is widely spread across the country, and Cipla can contribute to provide broader access to Roche's innovative medicines like Tocilizumab and Bevacizumab," Cipla's Umang Vohra siad.

Roche India managing director Lara Bezerra said this partnership will advance their efforts to expand the reach of, and improve access to, their innovative medicines.

Indusind to use blockchain for cross-border remittances

Private sector lender Indusind Bank will be using the blockchain technologies for cross-border remittances and has partnered with Ripple for the same.

Using the Ripple platform, the bank will be able to deliver instant settlements and atomic confirmations, Ramesh Ganesan of the bank said in a statement on Wednesday.

The blockchain technology for payments will lower both costs and transfer times for customers, he added.

Bank Muscat goes live with TCS software Largest software exporter TCS today said Oman's Bank Muscat has gone live with its BaNCS platform for fund and investment management.

Business growth and the underlying complexity of operations were the key drivers for this upgrade, it said.

Cibil to offer unlimited free access to scores to subscribers Credit information company Cibil has launched a subscription-based product to give customers unlimited access to their credit scores.

It can be noted that the Reserve Bank has mandated such companies to provide free access to their credit scores once every year. 

First Published: Wednesday, February 28, 2018 12:09 PM
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