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Comviva, SBI Card win Payments & Cards, PayTech and InnTech Awards for SBI Card Pay service

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NEW DELHI: Digital solutions provider Comviva and SBI Card, the leading credit card issuer in India have recently won three prestigious awards – Payments & Cards Award 2020, PayTech Award 2020 and InnTech Award 2020 for the ‘SBI Card Pay’ service. SBI Card and Comviva were recognized as the winners in the ‘Best Payments Technology Initiative of the Year’ category at the Payments & Cards Awards 2020.

The organizations were also accorded, ‘Best Cards Initiative’ category at the PayTech Awards 2020 and ‘Best Implementation of Technology by a Financial Sector Enterprise’, ‘Best Technology Provider/Vendor for Financial Technology (FinTech) Services’ and ’Best Integration of Technology in a Banking/Payments/Mobile Wallet Interface or Application’ categories at the InnTech Awards 2020. All the awards were announced at the virtual award ceremonies.

The SBI Card Pay service enables customers to create a virtual card on their mobile phone for their physical Visa or Mastercard SBI Credit Card. Thereafter, customers can make payments at merchants simply by unlocking their mobile phone screen using fingerprints, the screen lock facility or an MPIN and tapping the phone at a Near-Field-Communication (NFC) POS. This simple ‘tap and pay’ contactless process has made card payments swifter, hygienic and more seamless for customers.

The service is powered by Comviva’s HCE Module from its mobiquity® Banking Suite, that leverages Host Card Emulation (HCE) technology and tokenization to deliver swift, seamless, secure and convenient contactless mobile payments to customers.

Tokenization converts a customer’s card information into a device-specific digital token. Hence, while executing a transaction, a digital token is shared and the customer’s actual card information is masked, thus securing the transaction. In case the customer’s mobile device is misplaced, details of the card remain secure, as it is stored as digital tokens.

Pleased with the award wins, Ashwini Kumar Tewari, Managing Director & CEO, SBI Card said, “Driven by customer centricity, SBI Card has always been at the forefront of adopting latest technologies that benefit customers. SBI Card Pay is one such service that leverages next-gen HCE technology, allowing customers to create virtual version of their physical credit card on mobile phone and then tap the mobile phone on merchant’s NFC POS to make the payments. This ‘tap and pay’ contactless payment process is faster, secure and more convenient.”

Manoranjan ‘Mao’ Mohapatra, Chief Executive Officer at Comviva said, “We are honoured to receive these awards. The awards validates and recognizes Comviva’s efforts in bringing consumer focused, innovative and user friendly digital payment solutions to the market. Globally HCE and tokenization are making card payments frictionless and secure and we believe that in India also they will redefine the card payment experience. With the growing NFC POS infrastructure in India and mobile phones becoming de facto wallets for consumers, we expect ‘tap and pay’ services like SBI Card Pay are the future of card payments in India.”

Payments & Cards Awards 2020 are annual awards provided by Kamikaze, a premium B2B Media enterprise in India. PayTech Awards are global awards incorporated by London headquartered Fintech Futures, a popular digital publishing platform and knowledge hub for the worldwide fintech community. InnTech Awards are organized by Inkspell Media, an avant-garde B2B Media enterprise in India. All these awards celebrate and recognize the excellence and innovation in the technology, banking, payment and financial industries.

 

Appointments

Airtel appoints former Cabinet Secretary as independent director

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NEW DELHI: Bharti Airtel, India’s premier communications solutions provider, today announced the appointment of PK Sinha and Shyamal Mukherjee as Independent Directors on its Board of Directors. The appointments are subject to approval by shareholders at Airtel’s upcoming Annual General Meeting.

PK Sinha, IAS (Retd.), served as the Cabinet Secretary for more than 4 years before moving to the Prime Minister’s Office. He retired from there in March 2021 after 44 years of continuous service to the nation. He has been a Government nominee Director in numerous major Public Sector Undertakings and is well versed with the principles of healthy corporate governance.

Shyamal Mukherjee is the former Chairman and Senior Partner of PwC lndia and was at the forefront of making PwC a future-ready firm. Shyamal began his professional journey with PwC in 1984 and became a partner in 1993. He held several leadership roles at PwC India, including Brand & Strategy leader and Leader of India Tax practice. Shyamal also serves as an Independent Director on the board of ITC Ltd and a member of its Audit Committee.

The Company added that Manish Kejriwal, Lead Independent Director, would be retiring on September 25, 2022 on completion of his second tenure. Shishir Priyadarshi would be leaving the board with effect from October 31, 2022 to devote time towards his other professior,21 commitments. D. K. Mittal IAS (Retd.), would be designated as Lead Independent Director with effect from September 26, 2022.

Sunil Bharti Mittal, Chairman, Bharti Airtel said: “Airtel takes pride in having one of the most distinguished Board of Directors that is committed to high standards of corporate governance. These appointments are made with a long term view – to make the board future-ready, address the long term requirements of the Company and ensure smooth transition in key board positions. On behalf of the Board, I welcome PK Sinha and Shyamal Mukherjee and their valuable experience will add immense value to Airtel’s growth journey. I also want to thank fv1ani:;h Kejriwal and Shishir Priyadarshi for their tremendous contribution to Airtel.”

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5g

Narendra Modi inaugurates India’s first 5G testbed; says aims to roll out 6G end of decade

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NEW DELHI: India is targeting the rollout of 6G telecom network, which will provide ultra high speed internet connectivity, by the end of the decade, Prime Minister Narendra Modi said on Tuesday.

India currently has 3G and 4G telecom networks and companies are gearing up to launch 5G over the next few months.

Speaking at the silver jubilee event of telecom sector regulator TRAI here, he said it is estimated that the 5G network rollout will add USD 450 billion to the Indian economy.

“This is not just increasing internet speed but also the pace of development and creating jobs,” he said, adding the 5G technology will bring positive change in governance of the country, ease of living and ease of doing business.

It will boost growth in agriculture, health, education, infrastructure and logistics, he said.

Connectivity, Modi said, will decide the progress of the country in the 21st century and so modern day infrastructure needs to be rolled out.

According to the prime minister, a task force has started work on rolling out 6G network by the end of the decade.

Taking potshots at the previous Congress-led UPA government, Modi said the 2G era was symbolic of policy paralysis and corruption.

The country, under his government, has moved transparently to 4G and is now going to 5G.

Teledensity and internet users are fast expanding, he said, adding that mobile manufacturing units in India have expanded from 2 to over 200 and the country is now the world’s biggest mobile manufacturing hub.

The prime minister also said that his government has encouraged healthy competition that has led to India having one of the cheapest telecom data charges in the world.

Indigenous 5G test bed in telecom sector is an important step in India’s self-reliance, he added.

PM Modi virtually inaugurates India’s first 5G testbed costing Rs 220 crore

Prime Minister Narendra Modi on Tuesday inaugurated the country’s first 5G testbed to enable startups and industry players to test and validate their products locally and reduce dependence on foreign facilities.

The testbed has been set up at a cost of around Rs 220 crore. Speaking at the silver jubilee celebrations of the Telecom Regulatory Authority of India (Trai), the Prime Minister said the 5G testbed is an important step for self-reliance in the direction of critical and modern technologies.

“I invite youth friends, researchers and companies to utilise the testing facility for making 5G technology,” Modi said.

The 5G testbed has been developed as a multi-institute collaborative project by eight institutes led by IIT Madras.

In the absence of a 5G testbed, startups and other industry players were required to go abroad to test and validate their products for installation in a 5G network.

The other institutes that participated in the project are IIT Delhi, IIT Hyderabad, IIT Bombay, IIT Kanpur, IISc Bangalore, Society for Applied Microwave Electronics Engineering & Research (SAMEER) and Centre of Excellence in Wireless Technology (CEWiT).

The testbed facility will be available at 5 different locations.

Source: Press Trust of India

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5g

5G now in 1947 cities across 72 countries

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NEW DELHI: Viavi Solutions said that it has released new industry data revealing that the number of cities with 5G networks now stands at 1,947 globally. Despite the pandemic, 5G cities came online at a rate of nearly two per day, with the addition of 635 new 5G cities in 2021, according to the new VIAVI report “The State of 5G,” now in its sixth year.

By the end of January 2022, 72 countries had 5G networks in place, with the newest crop of 5G countries comprising Argentina, Bhutan, Kenya, Kazakhstan, Malaysia, Malta and Mauritius, which all came online in the second half of 2021. Europe, Middle East & Africa (EMEA) has overtaken Asia Pacific including Greater China (APAC) to become the region with the most 5G cities at 839. APAC has 689 5G cities and the Americas has 419.

Not surprisingly, the world’s two largest economies, the United States and China are the countries with the most 5G cities. China now has 356 5G cities and the United States has 296. The Philippines remained in the third spot globally with a total of 98 5G cities.

Currently, most 5G networks deployed are Non-Standalone (NSA) networks, meaning that 5G equipment is added to existing 4G network infrastructure. There are currently 24 Standalone (SA) 5G networks globally, meaning that they have been built using a new 5G core network. It is widely considered that many of the next-generation use cases and monetization models associated with 5G, beyond enhanced Mobile Broadband (eMBB) will only be possible when Standalone 5G networks built on new 5G core networks are in place.

The State of 5G also highlights the growing Open RAN ecosystem, combining mobile operators as well as software and infrastructure vendors, seeking to develop an open, virtualized Radio Access Network (RAN) with embedded Artificial Intelligence (AI) control. As of March 2022, 64 operators have publicly announced their participation in the development of Open RAN networks. This breaks down to 23 live deployments of Open RAN networks, 34 in the trial phase with a further seven operators that have publicly announced they are in the pre-trial phase.

“5G continued to expand, despite the headwinds of a global pandemic,” said Sameh Yamany, CTO, VIAVI Solutions. “What comes next in 5G is the reinforcement of networks. This will take a couple of forms. Firstly, we expect to see more Standalone 5G networks, which will deliver on much of the promise of 5G, both for the operator and for the wider ecosystem of users. And secondly, we expect to see Open RAN continue its rapid development and start to become a de facto standard. VIAVI will continue to play a central role in testing those new networks as they are built and expanded.”

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