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Paytm Payments Bank To Launch Paytm Debit Card

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The financial arm of Paytm, India’s biggest digital payments platform, Paytm Payments Bank is set to launch their own debit card. Paytm founder Vijay Sekhar Sharma took to Facebook to announce the arrival of these RuPay cards.

According to reports, One97 Communications founder Vijay Sekhar Sharma and other existing investors have invested close to $ 9.3 million in the Payments Bank for launching their own ATM cards. The card will let users pay in places where there is no option to pay via Paytm. According to a statement released by Payments Bank, they can now accept customer deposits up to Rs. 1 lakh per customer in both savings and current accounts.

In the documents filed at the Ministry of Corporate Affairs, Paytm Payments Bank said “…the consent of the Board is hereby accorded to issue on a right basis, 6,00,00,000 equity shares of the company of the face value of Rs. 10 to the investor….” The filings also reveal the board approved the issue of the equity shares on July 25, 2017.

In this round of investment, Vijay Sharma invested Rs. 30 crores whereas One97 Communications invested Rs. 23 crores and the remaining amount, close to Rs. 7 crores was invested by One97 Communications India. Sharma will be issued 30.6 million shares as a part of this round of funding while One976 communications has been allotted around 23.4 million shares.

The new Paytm debit card will allow users to shop from rival ecommerce sites or book a cab from aggregators other than Uber using their Paytm money. The Paytm Payments Bank operations were launched earlier this year and is a first mobile bank with zero charges on all online transactions and no minimum balance requirement. The bank received an initial investment of $ 34.2 million at the time of its launch in May. Sharma is the majority shareholder of the Nodia headquartered firm, while Alibaba backed One97 Communications holds the rest of the shares. The new debit card, as per their website, will also include a free insurance cover of up to $ 3,116, close to Rs. 2 lakhs, in the incident of death or permanent total disability.

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GitHub Enhances Copilot with Multi-Model Support and Unveils GitHub Spark AI Tool!

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GitHub has announced a significant upgrade to its AI coding assistant, GitHub Copilot, during the GitHub Universe 2024 event in San Francisco. This update introduces multi-model support, allowing developers to select from various AI models developed by Anthropic, Google, and OpenAI, providing greater flexibility in coding projects. Alongside this enhancement, GitHub also launched a new AI tool called GitHub Spark.

Enhanced Capabilities for GitHub Copilot

Since its launch in 2021, GitHub Copilot has revolutionized coding assistance, enabling developers to utilize AI for writing code, debugging, and enhancing security. With this latest update, users of the AI assistant in Visual Studio Code and on the official website can choose from several advanced AI models, including:

  • Anthropic’s Claude 3.5 Sonnet
  • Google’s Gemini 1.5 Pro
  • OpenAI’s GPT-4o, o1-preview, and o1-mini

Currently, Claude 3.5 Sonnet is available, with Gemini 1.5 Pro expected to be added shortly.

Developers will have the option to switch between models during their interactions with Copilot Chat, allowing them to determine which model best suits their needs. Additionally, users can select a preferred AI model at the start of their project, streamlining their workflow from the outset.

Benefits of Multi-Model Support

This multi-model approach enables developers to leverage the strengths of different AI models tailored for specific tasks. For instance:

  • Claude 3.5 Sonnet excels at complex coding tasks across the software development lifecycle.
  • Gemini 1.5 Pro features a two-million-token context window and is natively multi-modal, capable of processing code, images, audio, video, and text simultaneously.
  • OpenAI’s models provide advanced reasoning capabilities that enhance code understanding and efficiency.

Introduction of GitHub Spark

In addition to the Copilot upgrades, GitHub introduced GitHub Spark, an AI-native tool designed for developers of all skill levels. This feature allows users to generate “micro apps,” referred to as “sparks,” which can incorporate AI capabilities and external data sources into larger applications without heavy reliance on cloud servers.

How GitHub Spark Works

Creating a micro app with GitHub Spark is straightforward; developers simply need to input a natural language prompt outlining their requirements. They will then receive a preview of the app. Users can either modify the app code directly or issue follow-up prompts for the AI to make adjustments. GitHub Spark supports both Anthropic and OpenAI models.

Once a spark is generated, it can be run seamlessly on desktops, tablets, or smartphones. Users have the option to share their creations with others, either with customized access controls or full permissions for others to remix or build upon the spark.

Reinforcing Developer Productivity

With these updates, GitHub is reinforcing its commitment to enhancing developer productivity and fostering innovation in software development. The introduction of multi-model support and GitHub Spark aligns with GitHub’s vision of reaching one billion developers by providing tools that cater to diverse coding needs and preferences.

Future Developments

GitHub hinted that more features are planned for both Copilot and Spark in future updates, further expanding their capabilities and enhancing user experience. This commitment to innovation positions GitHub as a leader in integrating AI into the software development process.

Conclusion

The enhancements to GitHub Copilot and the introduction of GitHub Spark represent significant strides in making coding more accessible and efficient for developers. By offering multi-model support and facilitating the creation of micro apps through natural language prompts, GitHub is not only improving its existing tools but also paving the way for future innovations in software development.

As these features roll out, it will be interesting to see how they impact developer workflows and whether they lead to increased adoption of AI-driven solutions within the coding community.

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Netflix Introduces “Moments” Feature for Sharing Favorite Scenes from Movies and TV Shows!

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Netflix - Startup Stories

Netflix has launched a new feature called “Moments” that allows users to save and share their favorite scenes from movies and TV shows with friends and family. Currently available on the Netflix mobile app for iOS users, the feature enables viewers to bookmark memorable clips and share them directly through social media platforms. Netflix has confirmed that support for Android will roll out in the coming weeks.

What is Netflix Moments?

Netflix Moments is designed to help users relive iconic moments from their favorite shows and movies by allowing them to save and share clips within the app. With movie and TV show scenes frequently shared on social media, Moments positions Netflix to engage users by letting them highlight and circulate memorable content directly through the platform.

In a statement to Variety, Netflix actor Giancarlo Esposito expressed his enthusiasm for Moments, stating, “I know firsthand there’s something magical that happens when a powerful story finds its audience on Netflix. Suddenly everyone is captivated and can’t stop talking about it, and that passion just keeps compounding.” Netflix hinted that this is just the beginning for Moments, with “more features” planned to enhance the sharing experience.

How Does Moments Work?

According to Netflix, Moments can be accessed while watching content on the mobile app. The new Moments button will appear alongside options like playback speed, episodes, audio, and subtitles. To save a Moment:

  1. Tap the screen while watching a show or movie.
  2. Select the Moments option from the menu.
  3. The scene will be saved in the My Netflix section of the app.

Users can then instantly share these scenes with friends and family on platforms such as Instagram, Messenger, WhatsApp, or Snapchat. This functionality not only enhances user engagement but also provides a more interactive way for fans to connect with the content they love.

Enhancing Viewer Engagement

With Moments, Netflix aims to strengthen viewer engagement by transforming passive viewing into an interactive experience. This feature allows fans to curate their own collections of memorable scenes, creating fresh opportunities to engage with stories they cherish.

Integration with Social Media

The ability to share clips directly through social media aligns with modern viewing habits, where sharing highlights has become commonplace. By facilitating this process, Netflix hopes to encourage conversations around its content, potentially driving new viewers to its platform.

Future Plans for Moments

Netflix has indicated that it plans to expand the functionality of Moments in future updates. This could include additional features that enhance how users interact with shared content, further solidifying Netflix’s position in an increasingly competitive streaming landscape.

Celebrity-Driven Campaign

To promote this new feature, Netflix has launched a campaign titled “It’s So Good,” featuring prominent celebrities like Cardi B, Simone Biles, and Giancarlo Esposito. The campaign aims to showcase how memorable moments can resonate with audiences and encourage sharing among friends.

Conclusion

The introduction of the Moments feature represents a significant evolution in how Netflix viewers engage with streaming content. By allowing users to bookmark, save, and share their favorite scenes easily, Netflix is enhancing user interaction while adapting to the increasingly social nature of digital entertainment.

As this feature rolls out across platforms, it will be interesting to see how it impacts viewer behavior and whether it leads to increased engagement on Netflix’s platform. With ongoing developments planned for Moments, Netflix is positioning itself at the forefront of interactive streaming experiences, catering to both casual viewers and dedicated fans alike.

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Jio Payment Solutions Secures RBI Approval to Compete with Paytm in Digital Payment Services!

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Jio Payment Solutions, a branch of Jio Financial Services (JFS), has received regulatory approval from the Reserve Bank of India (RBI) to function as an online payment aggregator, effective from October 28, 2024. This approval allows Jio Payments to facilitate digital transactions for both merchants and consumers, positioning it to compete directly with established players like Paytm.

Strategic Significance of the Approval

This development marks a pivotal moment for Jio Payments, as it joins a select group of RBI-certified online payment aggregators in India. The timing of this approval creates a strategic opportunity for Jio Payments to increase its influence in the digital financial services sector, especially as competitor Paytm faces recent regulatory limitations. Due to compliance issues, Paytm’s financial arm, Paytm Payments Bank, has been restricted from onboarding new customers, curbing its expansion. This situation opens a potential market gap that Jio can leverage as it establishes itself as a prominent player in the digital payments landscape.

Features and Offerings

As an online payment aggregator, Jio Payments will empower businesses to accept a broad range of payment options, including debit and credit cards, Unified Payments Interface (UPI), e-wallets, and more. These offerings will complement Jio Payments Bank’s existing services, which include digital savings accounts with biometric access and physical debit cards, currently serving over 1.5 million active users.

Market Context

With RBI’s approval, Jio Payments is well-positioned to compete in India’s expanding fintech sector. This authorization reflects RBI’s confidence in Jio’s regulatory compliance and reinforces JFS’s aspirations to deliver comprehensive digital banking and payment solutions across the country.

Competitive Landscape

The regulatory nod comes at a critical time for Paytm, a leader in India’s digital payment space, which is confronting ongoing challenges. Paytm’s Payments Bank recently faced restrictions from the RBI on onboarding new customers, impacting its ability to expand. As Paytm grapples with these challenges, Jio Payments has an opening to broaden its reach and capture new users in India’s fast-growing digital finance arena.

Future Growth Potential

Jio Financial Services has ambitious plans for growth within the digital payments sector. With a suite of licenses covering lending, insurance broking, and payment aggregation, Jio processed approximately 1.8 million UPI payments in April 2024 alone. This underscores its goal to become a major player in digital finance.

Rising Demand for Digital Payments

The demand for digital payments continues to surge in India, driven by increasing smartphone penetration and the growing popularity of UPI transactions. As cash usage declines—representing about 60% of consumer spending as of March 2024—digital payment methods are becoming essential for consumers seeking convenience and efficiency.

Conclusion

Jio Payment Solutions’ recent approval from the RBI marks a significant step forward in its efforts to establish itself as a key player in India’s digital payment ecosystem. By leveraging this opportunity amidst challenges faced by competitors like Paytm, Jio aims to expand its customer base and enhance its service offerings.

As the digital finance landscape evolves, Jio’s entry into online payment aggregation could reshape consumer behavior and preferences in India. The company’s commitment to integrating advanced technology into its services positions it well for future growth in an increasingly competitive market.

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