NPCI gives nod to WhatsApp Payments BHIM UPI beta, says interoperability must for public launch

NPCI; The National Payments Corporation of India, the underdog for all digital payments in the country, said that all partnering bodies must follow set or predefined rules and UPI guidelines to make the platform interoperable. This was in context to the speculation of Paytm accusing NPCI giving out favoring setbacks to Whatsapp for its Payments platform. Furthermore, NPCI says that it has given its consent to roll out WhatsApp BHIM UPI beta with a limited user base of 1 million and low per transaction limit. Four banks will join the multi-bank BHIM UPI model in phases and product will be rolled out once the beta test is successful. Multi-bank model has various advantages such as transaction load distribution, helps to integrate popular apps easily with BHIM UPI. The body further said that apps would only be enabled for full-scale public launch only if and when they incorporate interoperability, generate BharatQR codes and have both intents and collect payment options. This statement from NPCI comes in the wake of Paytm founder Vijay Shekhar Sharma accused by saying “Facebook is openly colonizing our payment system and is customizing UPI to their benefit. UPI was built as an India Stack; now some American monopoly arm-twists UPI for customer implementation.” The founder said that he …
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Snap CEO Evan Spiegel sold $50 million in stock this week, his first public sale since the IPO

The founder of the communications app is worth about $ 4.5 billion.

Snap CEO Evan Spiegel sold roughly 2.7 million shares of stock last week, worth more than $ 50 million, which is his first personal stock sale since Snap went public last March.

The sale, which was executed as part of a pre-arranged sales plan that executives often use to avoid concerns over insider trading, was a small amount of Spiegel’s over holdings — a little more than 1 percent.

It’s not uncommon for public company executives to sell stock, but Spiegel’s sale is notable given that it’s his first since the company’s IPO. Spiegel and co-founder Bobby Murphy had previously pledged not to sell any shares in 2017, a promise intended to soothe any potential investor concerns around the time Snap’s employee lockup period ended.

Decisions by public company CEOs about when and how to sell their stock can be meaningful. Facebook’s Mark Zuckerberg rarely sold stock; until he started doing so to fund his philanthropy; now he sells regularly, so much so that he initially tried to split Facebook’s stock in order to ensure he could keep selling without losing company control. Twitter’s Jack Dorsey, on the other hand, has actually purchased stock on multiple occasions as a more symbolic way of showing faith in the company.

It’s too soon to know what Spiegel’s cadence will be, although he’s not in jeopardy of losing control of Snap: Spiegel and Murphy controlled a combined 88.5 percent of Snap’s voting power at the IPO. Spiegel’s net worth is around $ 4.5 billon.

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Twitch launches public and private chat rooms for streamers

Amazon-owned streaming giant Twitch today announced the launch of a chat room feature that will exist outside the standard Twitch chat that lives on the righthand side of live streams. The company is calling the new product Rooms, and these chats will be both public and private chats streamers can set up for viewers and subscribers to interact with a streamer and each other around dedicated topics or themes. For instance, a streamer could set up a chat room specifically for subscribers only and leave it open 24 hours a day, even when that streamer is not live, so discussions can take place at around the clock and even when the channel is inactive.

Twitch first announced the feature back at its annual developer and fan conference,…

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