PREPAID ITEMS
UPI MDR deferment gives D2C brands festive-season margin relief
The new MDR framework on UPI was expected to impact D2C brands operating in low-margin categories such as consumer electronics, fashion and packaged goods through their own website. For the majority of digital-first brands, 60-90% of their prepaid transactions are through UPI.
Uber Eats now returns your packages too — here’s the catch you didn’t expect
Uber Eats now lets users return items easily from home using the app. A courier comes to pick up the product and refunds are started quickly. But users must pay a small fee and follow store rules. Only some shops support this right now. The feature shows how Uber is adding more services beyond just food delivery for users.
Man eats food worth ₹21.5 lakh for free by scamming food delivery app. Here’s how he was caught
A 38-year-old man in Japan, Takuya Higashimoto, was arrested for scamming food delivery platform Demae-can, causing losses exceeding 3.7 million yen (around Rs. 21.5 lakh). He placed 1,095 orders using 124 fake accounts, falsely claiming deliveries never arrived to secure refunds. Authorities revealed he bought prepaid SIMs and used false identities. The platform pledged stronger security, highlighting risks in digital payment systems and the need for tighter verification to prevent similar frauds.
From fashion to astrology, early-festive demand fuels 16% growth: GoKwik
Indian shoppers are starting their festive shopping earlier this year, leading to a 16% increase in D2C order volumes on GoKwik's platform. Fashion, beauty, and health categories are leading the sales, with prepaid orders surging across most categories. Improved supply chain performance and changing consumer preferences are also notable trends.
Why you can no longer buy meat or dates at your local grocery in Saudi Arabia
Saudi Arabia has announced a ban on small stores selling tobacco, dates, meat, fruits, and vegetables. This move aims to improve food quality and public health. The new rules are effective immediately, with a six-month grace period. Larger stores will require licenses. The government also sets minimum space requirements for stores.
More than half of Valentine’s Day sale period orders were made on prepaid, surpassing COD: GoKwik report
During the recent Valentine's Day and Republic Day sales, prepaid orders surpassed cash on delivery (COD) for the first time in four years. The prepaid adoption trend, driven by UPI payments and credit-based options, indicates a significant shift in shopping behavior, particularly in Tier 3 cities, making D2C shopping more affordable and attractive.
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Bharti Airtel Q3 Results: Adjusted consolidated PAT soars 121% YoY to Rs 5,514 crore, ARPU at Rs 245
Bharti Airtel Q3 Results: Telecom major Bharti Airtel reported significant growth in net profit, reaching Rs 14,781 crore in Q3, with an adjusted PAT growth of 121% YoY at Rs 5,514 crore. Revenue grew 19% YoY to Rs 45,129 crore, and EBITDA rose 24% YoY to Rs 24,480 crore.
D2C brands saw a 36% surge in order volume during Republic Day sale period: GoKwik
Ecommerce enabler GoKwik reported a 36% surge in orders during the recent Republic Day sale period, driven by categories like beauty, fashion, and healthcare. GMV increased by 41%. Prepaid orders surpassed COD for the first time, with UPI payments leading the way. Tier-3 cities drove significant growth, while Maharashtra, Karnataka, Uttar Pradesh, and Delhi were top contributors.
Bharti Airtel shares in focus after company prepays Rs 3,626 crores to clear 2016 spectrum liabilities
Bharti Airtel Share Price: Bharti Airtel prepaid ₹3,626 crores in spectrum dues, bringing its total prepayments for 2024 to ₹28,320 crores. This clears all liabilities with interest costs above 8.65%. The company's Q2FY25 net profit surged 168% YoY to ₹3,593 crore, with ARPU rising 15% to ₹233. Shares rallied 58% this year, outperforming the Nifty.
Gold Rush or Gold Bust? Customer gets the wrong gold coin in Blinkit delivery mix-up, says 'I was scammed'
Mohit Jain, a Delhi resident, ordered a 1-gram gold coin from Blinkit but received a 0.5-gram coin instead. The order was prepaid and handled by his brother. Jain's attempts to resolve the issue were unsuccessful, with the return window expired and customer support unresponsive. His experience sparked discussions on Blinkit's handling of high-value items.
D2C brands see 64% surge in festive orders, outperforming marketplaces: GoKwik
D2C brands have outpaced marketplaces during the recent festive sales, witnessing a 64% growth in orders compared to 26% on marketplaces. Categories like footwear, fashion, and jewellery saw significant increases, reflecting growing consumer trust. Tier 1 cities led the surge, contributing to a 96% spike in orders.
Uber ups hyperlocal deliveries as quick commerce takes off
Delivers prepaid items from kirana stores; offers service in NCR, Bengaluru, Chennai, Hyderabad, Jaipur, Lucknow, Kolkata, Guwahati and Ludhiana
Forex cards, travel cards fee should be settled in rupees, not in foreign currencies: RBI
All fees assessed on store value cards, travel cards, and foreign prepaid cards payable in India must be settled in rupees.
Indian Railways introduces new customised menus for diabetics and infants
Sale of a-la-carte meals and branded food items on MRP will be permitted on Mail/Express trains. Menu and tariff of such a-la-carte meals will be decided by the IRCTC. At present, mostly standardised food items and beverages were available on the menu.
Market Movers: Metals get reality check as iron ore shipment halves
NMDC closed down over 1 per cent. National Aluminium, and Welspun Corps were other big losers of the day. Nifty Metal eventually ended down 0.55 per cent.
Best Buy Insignia Air Fryer recalled due to risk of fire
According to regulatory agencies, 4,444 hot air fryers with a cavity size of 3.4 to 10 litres were sold for $30 to $150. Each unit has the INSIGNIA brand name on the top or front.
Policy support, fundraise may give Vodafone Idea relief but sizable tariff hike must: Edelweiss
A moratorium on AGR and spectrum payments, and cut in SUC and Licence Fee are reportedly among the key measures being lined up. While these steps "are in the right direction", they merely shift the timing of the liabilities to a future date without addressing the key issue plaguing the business, that is, low tariffs, the Edelweiss report analysed.
Vodafone Idea posts highest-ever loss by an Indian firm at Rs 73,878 crore in FY20
In a regulatory filing, Vodafone Idea (VIL) reported widening of March quarter net loss to Rs 11,643.5 crore.
Fashion companies start ‘buy now, get later’ sales
Online firms such as Tjori, Voylla, Peachmode among others have announced discounts of up to 80% during the lockdown to prevent an inventory pile up due to suspension of ecommerce deliveries of nonessential items.
IRCTC orders closure of all onboard catering services in mail, express trains from Mar 22
The Indian Railway Catering and Toursim Corporation (IRCTC) has also decided to close all food plazas, refreshment rooms, Jan Aahars and cell kitchens until further notice. "These instructions shall come into force from March 22. For the purpose of license fee this period will be covered under force majeure," the order stated.
Buying from foreign ecommerce sites may get costlier
Prepaid customs duty and tax could make buying products from foreign ecommerce platforms costlier.
Nearly 1/3rd of cash orders not delivered
Narvar’s CTO Ram Ravichandran said that several ecommerce companies in India are piloting projects using machine learning and AI that may enable them to cut losses by several means, including not offering COD to certain shoppers based on their shopping behaviour.
Goldman sees Jio’s operating income at $5 billion by FY25
Goldman has assigned an EV of $43 bln and an equity value of $22 bln to the telecom arm.
Tata Docomo incentivises channel partners to increase postpaid subscribers
It has launched rewards and retention programme, Bonus Plus, to promote competition among sellers.
Gift cards to be $1 billion business in India in 3-5 years: QwikCilver
QwikCilver Solutions, a private limited entity, provides gift card and prepaid stored value card solutions to retail and corporate customers.
Apple tries to lift online sales by cutting refund times in half
According to retail-intelligence firm StellaService, customers who buy a product from Apple's online store can get a refund in under a week.
Nokia, PayMate to develop NFC-technology solution for handset
Handset maker Nokia and online payment services provider PayMate has joined hands to develop a solution.
Join the latest trend of online shopping; buy your groceries online
The grocery portals offer to deliver the produce at your doorstep. However, these are limited to a few cities and you may have to pay extra.
What to declare at the customs while travelling abroad
If you are going overseas on a vacation, you can carry only up to $10,000 (Rs 4.5 lakh) a year, no matter how many trips you make.
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