Categories
Journalism

New Story: Mobile Wallet Paytm Hits Pay Dirt Amid India’s Cash Crackdown

A new story out Wed., which I wrote with my colleague Corinne Abrams, begins:

MUMBAI—India’s second-most-valuable startup, the mobile-payments app Paytm, has a new target after proving itself more popular than credit cards.

“We’re competing with cash,” said Madhur Deora, Paytm’s chief financial officer. “In India, we’re not competing with cards.”

The company’s boast isn’t a stretch, given India’s crackdown on cash over the past six months has left citizens and merchants searching for cashless payment alternatives. Paytm has seized the opportunity and become the market leader through timely partnerships, simplifying the app’s process and dispatching an army of up to 10,000 trainers to reach out to the tiny shops that dominate the Indian economy.

The results have been impressive. Five million merchants in India accept payments using Paytm, five times the number that accept credit cards, Mr. Deora said. In addition, Paytm has 225 million mobile wallet customers, more than Snapchat’s 166 million daily active users world-wide and four times as many as rival mobile-payment competitors MobiKwik and FreeCharge, which each have 55 million users.

Click though to to read the rest.

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Newley's Notes

📨 Newley’s Notes 94: Ambient Computing; Drones for Dummies; Dogs in Pools

2017 05 31blades

Edition 94 of my email newsletter, Newley’s Notes, went out on Saturday.

To subscribe, simply enter your email address at this link. It’s free, it’s fun, it’s brief, and few people unsubscribe.


Hi, I’m Newley Purnell. Welcome to the latest issue of Newley’s Notes, where I share my Wall Street Journal stories, posts from by blog, and various links about technology, business and life.

💬 What I Wrote at Newley.com

📲 5 Must-Reads in Tech

1. On the internet (or lack thereof) in rural India. The New York Times’s Ellen Barry reports on how people in central India’s Madhya Pradesh state, like in many parts of India outside large cities, remain largely disconnected from the web.

2. Walt Mossberg’s final column. Mossberg, whose impending retirement I mentioned in NN88, looks to the future in his last dispatch at Recode and says we’re entering an era of ambient computing. Advances in fields like AI, VR/AR, robotics, drones and more mean tech will become ever more pervasive, rather than just sitting in front of us in the form of a PC or in our pockets, like smartphones:

I expect that one end result of all this work will be that the technology, the computer inside all these things, will fade into the background. In some cases, it may entirely disappear, waiting to be activated by a voice command, a person entering the room, a change in blood chemistry, a shift in temperature, a motion. Maybe even just a thought.
Your whole home, office and car will be packed with these waiting computers and sensors. But they won’t be in your way, or perhaps even distinguishable as tech devices.
This is ambient computing, the transformation of the environment all around us with intelligence and capabilities that don’t seem to be there at all.

3. DJI’s new drone for dummies. Speaking of drones, the Chinese powerhouse is launching a new $499 model, the Spark, that can be controlled with hand gestures. This could be a killer feature, since anyone who’s flown a traditional drone can tell you how hard they can be to keep aloft. (Yes, the new model can also snap selfies for you.)

4. Pics of Amazon’s new bookstore in NYC. Some have said the shop, in Manhattan’s Columbus Circle, looks like it was designed by people who hate books. What do you think? Say what you will about the toll the e-commerce titan has taken on book publishers and stores, but it’s interesting see their push into physical retail.

5. Why Google’s gobbling up your photos. In this piece at Medium, Victor Luckerson says the popular Google Photos product is all about gathering more and more of our data:

While we allow the company to passively track us through platforms like Chrome and Maps, Google Photos may be the first Google product that persuades people to actively share their personal information with the company en masse since Gmail.

💫 1 Fun Thing

1. Video: Cody the Labrador stands in the pool. Not a new video, but new to me. Why dog paddle when you can just stand up?

What’d I miss? Just hit reply to send me links, rants, raves, juicy news scoops and anything else.

Thanks for reading.

Love,
Newley

Categories
Snippets

Weekend sketching project. Trying to get the angles right

✏️

Categories
Snippets

Mmm. It’s cherry season here in India

🍒

Categories
Snippets

Karen’s Last Ziti

#SopranosBandNames

Categories
Misc.

Image of the Day: Map of China, Seen from the East

2017 05 22 china from east

Can’t say I’d ever contemplated the country from this perspective.

Via Marginal Revolution.

Christopher Jared, who apparently sent in the image, writes in the comments:

I have used this perspective of China for insight many times. Look at the proximity of Korea, Japan, Taiwan, and then what is in the middle? A large green, fertile patch… a middle kingdom. Whenever I am thinking about events in Chinese history, recent or ancient, it is this perspective that is most helpful to understanding.

Note: Taiwan would be grey because it was under Japanese rule in 1941, the date of the map.

Categories
Newley's Notes

Newley’s Notes 93: iPhone Scoop; SoftBank Allegations; Bluths Coming Back

2017 05 20colors

Edition 93 of my email newsletter, Newley’s Notes, went out yesterday.

To subscribe, simply enter your email address at this link. It’s free, it’s fun, it’s brief, and few people unsubscribe.


Hi, I’m Newley Purnell – welcome to the latest issue of Newley’s Notes, where I share my Wall Street Journal stories, posts from by blog, and various links about technology, business and life.

📝 What I Wrote in The WSJ

A contentious back-and-forth between SoftBank Group Corp. and attorneys who say they represent anonymous, disgruntled shareholders is riling the Japanese telecommunications titan.

The difficulties for SoftBank come as it is poised to begin investing $100 billion in technology startups around the world, and they have drawn concern from a Saudi Arabian investment vehicle that is set to commit $45 billion to the SoftBank technology fund.

The allegations from the attorneys have lingered over the past year about the conduct of top SoftBank executives, especially in India…

Click through to read the whole thing.

💬 What I Wrote at Newley.com

📲 5 Must-Reads in Tech

1. A round-up of everything “WannaCry.” This comprehensive post from Troy Hunt explains what we know about the ransomware that hit computers around the world. There’s also a Wikipedia page about the attack.

2. The biggest news from Google’s annual developer conference, Google I/O, involved Google Lens (image recognition), a standalone virtual reality headset, new photo tools, and more. Here’s the BBC on the gathering’s 5 biggest announcements. And The Verge has a more comprehensive rundown.

3. The 20th anniversary of Amazon’s IPO. When the company when public in May 1997, it was worth $438 million. Now its worth almost $460 billion. Recode has some charts illustrating its rise. (Related: My notes from “The Everything Store,” Brad Stone’s excellent 2013 book on Jeff Bezos and the company he created.)

4. How tech titans rake it in. Speaking of charts, here’s a breakdown of how the likes of Facebook, Google, Apple, Amazon and Microsoft make their money. (Don’t forget: Google and Facebook are enormously successful at attracting advertising bucks; they get comparatively little revenue from other sources.)

5. Bill Gates tweeted some advice for new college grads. While most were inspirational tips, he also mentioned one big regret: “When I left school, I knew little about the world’s worst inequities. Took me decades to learn.”

💫 1 Fun Thing

1. The Bluths are coming back. The entire cast of hit TV show “Arrested Development” is returning to to Netflix for a fifth season next year.

As creator Mitchell Hurwitz said in a statement, “…we all felt that stories about a narcissistic, erratically behaving family in the building business — and their desperate abuses of power — are really underrepresented on TV these days.”

What’d I miss? Just hit reply to send me links, rants, raves, juicy news scoops and anything else.

Thanks for reading.

Love,
Newley

Categories
Snippets

The NYT mobile site recently served me this ad, presumably because I’m in India


😷

Categories
Journalism

New Story: As Allegations Swirl Around SoftBank, It Calls Them ‘Sabotage’

A new story out Thurs., which I wrote with my WSJ colleagues Bradley Hope and Alex Frangos, begins:

A contentious back-and-forth between SoftBank Group Corp. 9984 0.90% and attorneys who say they represent anonymous, disgruntled shareholders is riling the Japanese telecommunications titan.

The difficulties for SoftBank come as it is poised to begin investing $100 billion in technology startups around the world, and they have drawn concern from a Saudi Arabian investment vehicle that is set to commit $45 billion to the SoftBank technology fund.

The allegations from the attorneys have lingered over the past year about the conduct of top SoftBank executives, especially in India. The company announced last week it had taken a loss on $1.4 billion on investments, largely in Indian startups. In March, a complaint was submitted to an Indian financial regulator purporting to identify financial malfeasance in those deals, including that current or former SoftBank executives received kickbacks connected with the investments.

Click through to read the rest.

Categories
Journalism Tech

Our Scoop Yesterday: Apple Manufacturer Assembles First iPhones in India

2017 05 18 apple india

The exclusive, which I wrote with my WSJ colleagues, begins:

NEW DELHI—An Apple Inc. manufacturer has completed a trial run of the first-ever iPhones assembled in India, in an important step in the U.S. tech giant’s push into the fast-growing South Asian market.

The manufacturing of Apple’s cheapest iPhone model, the SE, was handled earlier this month by Taiwanese contract manufacturer Wistron Corp., which has an assembling unit in the southern state of Karnataka, a state official with direct knowledge of the matter told The Wall Street Journal.

Apple said in a statement that it has begun initial production of a small number of iPhone SE handsets in Bangalore and will begin shipping the Indian-made devices to domestic customers this month. The first devices could hit stores as early as this week or next, according to a person familiar with the matter.

A Wistron spokeswoman said the company doesn’t comment on “market rumors or speculation.”

With sales cooling in China—long an engine for Apple’s growth—the Cupertino, Calif., company has been looking for new ways to build its brand in India. Apple has sought concessions on the taxes it pays to import some components, government officials say.

The story was followed by may other outlets.