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Razorpay and NPCI Launch UPI AutoPay, Recurring Payment Solution for Indian Businesses

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With an intent to provide a major boost to UPI transactions and deliver an easy and secure way for consumers to make recurring payments online, Razorpay launched support for UPI AutoPay in association with NPCI at the Global Fintech Fest.


 






Harshil Mathur, CEO & Co-founder of Razorpay Launching support for UPI AutoPay at Global FinTech Fest


 


The leading full stack financial solutions company has been powering innovations on UPI (Unified Payments Interface) since 2016. Now, with this offering the company will enable its partner businesses across Digital Content Platforms (OTT), Lifestyle Subscription platforms, Insurance, Education and other sectors experience the huge potential of UPI AutoPay by exploring new revenue models and serving a wider audience.


 


Traditionally, the recurring payments feature was first allowed for debit cards, credit cards and prepaid payments instruments in 2019. However, the overall payment experience was broken. UPI AutoPay comes as a relief for both businesses and consumers as subscriptions will now be streamlined providing enough visibility and control to businesses and consumers. This move is likely to make signing up for financial services, bill payments, digital content platforms (OTTs) and lifestyle subscription services upto a certain limit, much easier for customers.


 


UPI AutoPay will give more power and flexibility to customers allowing them to set up recurring payments using any of their UPI apps. Some of its features will include:


 



  • With a limit of Rs. 2000 in every cycle, it makes consumption of day-to-day needs convenient and affordable for consumers as they don’t need to make bulk payments



  • Consumers can choose the day of debit and can view, suspend, or revoke a digital mandate via their UPI app or merchant website



  • Pre-debit notifications will be sent to consumers 24 hours prior to the payment, allowing customers to pay, pause or cancel the e-mandate



  • Consumers can pay for their subscriptions on a daily, weekly, monthly, quarterly, or yearly frequency


 


With real-time digital mandate registration, 24 hours pre-debit notifications and better success rates, the recurring payments model is expected to create opportunities for companies to scale, tap new consumer segments and improve customer loyalty and payment experience.


 


CEO and Co-founder of Razorpay, Harshil Mathur said, We are truly excited to partner with NPCI to launch support for UPI AutoPay and provide all our partner businesses with an unbeatable payment experience. With consumers opting for contactless payments in this COVID-era, UPI has turned out to be the preferred payment mode for many. But now UPI AutoPay will be the next tipping point in digital payment innovation as consumers can easily set up recurring payments using their UPI Apps. Indian online businesses have been waiting for this feature for a long time as this will help them smartly collect recurring payments without any risk. The payment process is really simple, without the user having to worry about several layers of authorisation, still providing a high level of security. This model also gives flexibility and power of choice to customers as they can subscribe or unsubscribe a product or service at any point. I believe UPI AutoPay will definitely be a game-changer for subscription led-businesses.”


 


From online streaming content, health & fitness benefits to essentials and groceries​, individuals have turned to ​all things digital with the current social distancing norm. And given how consumers continue to want f​lexible payment options,​ ​UPI AutoPay ​is expected​ to deliver an exceptional payment​ ​experience​. ​Times Prime, which is one of the country’s largest lifestyle subscription platforms, is among the firsts to integrate Razorpay’s UPI AutoPay Support. The two companies are certain that an association like this will help deliver what the consumers have been looking forward to.


 


Vivek Jain, Business Head – Times Prime talks about the importance of emerging payment technologies for the subscription products, saying, “As a multi-category lifestyle subscription with benefits on India’s leading brands, we at Times Prime strive to deliver not only 10x value to our members but also seamless user experience. Specifically, reducing payment friction is a key driver to increasing lifetime value (LTV) which is imperative to the success of the business.” 


 


He added, “To this effect, we have always been thought leaders and early adopters of recurring payment innovations across Credit Cards, Debit Cards, Wallets, and now UPI. Razorpay UPI Autopay integration was the logical step towards our product vision and I am confident that our customers will appreciate this hassle-free and secure payment option.”


 


Razorpay has started enabling its partner businesses to start accepting recurring payments on UPI. Furlenco, Times Prime, Policy Bazaar and Testbook are among some of the first companies to be integrated with Razorpay for recurring payments.


 


About Razorpay Software Private Limited


Razorpay, the leading full-stack financial services company, helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment journey for any business. Established in 2014, the company provides technology payment solutions to over 1,000,000 businesses. Founded by alumni of IIT Roorkee, Shashank Kumar and Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley’s largest tech accelerator, Y Combinator. Marquee investors such as Tiger Global, Matrix Partners, Y Combinator, Sequoia India, Ribbit Capital and MasterCard have invested a total of $106.5 million through Series A, B and C funding. Around 33 angel investors have invested in Razorpay’s mission to simplify payments. Known to be a developer oriented payment gateway, Razorpay focuses on essentials such as 24×7 support, one-line integration code and superior checkout experiences.

This story has been sourced from a third party syndicated feed, agencies. News Galiyara accepts no responsibility or liability for its dependability, trustworthiness, reliability, and data of the text. DigitalGaliyara (OPC) Private Limited management reserves the sole right to alter, delete or remove (without notice). If you have any concerns with the Content, then please write to us at the mail@digitalgaliyara.com Source – NewsVoir

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CGTN: What does a people-centered philosophy mean for China?

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BEIJING, June 18, 2021 /PRNewswire/ — In China’s fight against COVID-19, more than 39 million members of the Communist Party of China (CPC) fought the virus on the frontline while over 13 million volunteers rendered their services at the community level. Nearly 400 of them laid down their lives in the process of saving others.

United as one and determined to save every life at all costs, China has been one of the most successful in containing the virus.

This is one vivid example that demonstrates China’s commitment to a people-centered philosophy.

Rooted in history

Adherence to a people-centered philosophy has been the key to CPC’s success in the past 100 years. From 57 members represented by 13 deputies at the first National Congress in 1921, the CPC has grown into a 91-million-strong entity that governs a country of 1.4 billion people.

Laying the basis of socialism with Chinese characteristics, the CPC led China to overcome obstacles in the way of its development, helping it stand on its feet and grow stronger till it eventually became the world’s second-largest economy.

“People are the creators of history. They are the fundamental force that determines our Party and the country’s future,” said Chinese President Xi Jinping, also general secretary of the CPC Central Committee.

Commitment to the world

As COVID-19 continues to ravage the world, many countries have restricted grain exports. Resultantly, the number of people facing acute food insecurity hit 155 million last year – the highest in last five years.

However, China is doing its part to ensure global food security by reducing grain imports and moderately increasing the exports of wheat and rice. It also continues to assist other developing countries within the framework of South-South cooperation.

Domestically, China met its poverty alleviation target by the end of 2020, lifting nearly 100 million people out of poverty over the past eight years.

In the next five years, China plans to take a series of measures, such as improving people’s incomes, boosting employment and building a high-quality education system.

“To ensure that the people enjoy a happy life is the ultimate goal of all our work and is an important manifestation of our Party’s fundamental purpose of serving the people wholeheartedly,” Xi said.

Xi has constantly urged the CPC members to stay true to the Party’s founding mission, which is to serve the people.

https://news.cgtn.com/news/2021-05-12/What-does-a-people-centric-philosophy-mean-for-China–10bpBSe50hG/index.html

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How Will Blockchain Affect The Future of Education and Learning? Tim Miller, CEO Certif-ID Shares His Views

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NSN

Madhuri Dubey, Founder – National Skills Network, recently conducted an online interview with Tim Miller, Co-Founder & CEO – Certif-ID, to talk about how blockchain technology can better facilitate digital transactions.

BANGALORE, India, June 18, 2021 /PRNewswire/ — Tim Miller is an enthusiastic, driven thinker with a global perspective and is involved in the strategic development of future-ready learning, training and consultancy solutions. With diversified international work experience covering digitalisation of learning solutions, management system certification, product certification and training – across 25 countries, Tim has his finger to the pulse of the technologies and trends that fuel the market. Recently, Madhuri Dubey, the Founder of National Skills Network, sat down with Tim to discuss how breaking down fundamental constraints by applying technology in innovative ways has led him to create a blockchain-powered platform.

Read their conversation below.

Why did you turn to blockchain technology for Certif-ID? 

The vision of Certif-ID is to bridge the gap between ‘New Economy’ skills and employment prospects. To bring trust and transparency to digital transactions. Through Certif-ID, one of our goals is to harmonize educational standards and bring equal opportunity to technical professionals around the world. In line with this, we have focused on building a community of professionals in developing markets, helping them to showcase their skills and find employment in developed markets. 

We therefore needed a technology that would help us build a system to support the coexistence of traditional services and new services. And blockchain technology combined with data analytics and automation was our ideal choice. Its decentralised ledger system offers us the much-needed transparency and traceability. 

What is the foundation of the Certif-ID platform?

Our primary mission is to harmonize educational standards and bring equal opportunity to technical professionals around the world. For this, we needed a process which would align with existing training providers to explore current levels of training and expected competency outcomes. To achieve this, Certif-ID uses European Skills, Competences, Qualifications and Occupations (ESCO) framework and Artificial Intelligence (AI).

The ESCO framework provides an excellent guide and can support the process of skill and competency mapping to job roles and occupations. It identifies the key indicators and the core skills, which are required to meet industry specific needs, while also describing the steps required to achieve global standards. 

Additionally, we addressed the lack of transparency in the certification process by digitising and powering it with blockchain technology. This ensures that the digital certificates issued through Certif-ID are verifiable instantly and immutable

AI on our platform furthers our mission in various ways, whether it is our smart search feature or providing course and job recommendation based on members’ skills. 

On the whole, Certif-ID is designed for individuals who want to learn new skills, providing easy access to credible courses and institutes for enrollment. After completing a course, learners can earn digital certificates via the Certif-ID platform. We are facilitating a continuous upskilling, in turn, improving a learners chance of landing a job and achieving professional equality.

How has Certif-ID grown since its inception in 2019? 

We had a great experience working on Certif-ID. It has certainly been challenging considering the current times, but we have been welcomed by people in the industry, communities and beyond. 

Certif-ID is unquestionably solving current challenges, from making it a possibility for institutions to issue contactless digital certificates which can be verified instantly to providing a secure space for technical professionals to build a profile and gain visibility. 

We began our journey focused on helping Technical and Vocational Education and Training (TVET) institutions in their certification and accreditation processes. Today, we have multiple offerings for institutions such as data analytics to gain insights and business value. 

Technical professionals or members on Certif-ID can build their SkillPass. It is an online profile that one can use to showcase their skills and experience. SkillPass offers a range of features including, a self-assessment to gauge one’s job-readiness, CV generator to create different CVs to suit the job role one is applying for, Video CV to show off their personality and much more. SkillPass is beneficial because it allows members to store, access and share their credentials securely at any time from anywhere. 

Again, recruiters on the platform can list jobs, screen candidates based on their skills, access and verify their digital certificates and make an informed decision on shortlisting the candidate for an interview.

What are some of the big events in the life of Certif-ID?

Every small step we take toward bettering our platform and services, has been a big event for us and I would like to thank an extremely dedicated team behind the scenes for this. 

We are extremely proud of our partnership with leading institutions of the likes of, TÜV Rheinland Academy, Automotive Skills Development Council (ASDC), ASTS Global Education India Pvt. Ltd., ICICI Foundation, and UNNATI Skill Center, publishing over 50,341 blockchain-powered digital certificates.

In 2020, we were able to run a large-scale event, titled ‘Next Step Seafarers’, focused on getting seafarers in the Philippines back to work, as a response to the impact of COVID. This event was a big success, with the support of UNESCO, multiple industry players, including Q2 Hr Solutions, 

TESDA (Technical Education and Skill Development Authority) and importantly an endorsement from the Vice President of the Philippines, Ms. Leni Robredo.

Recently, we have entered a new market of upholding environmental sustainability. We have partnered with Woodify, a startup focused on planting new, climate-resistant mixed forests across Germany. They are set to issue carbon credits digital certificates per year via Certif-ID to ensure that the issued carbon credits are encrypted, secure and instantly verifiable. 

How do you foresee Certif-ID shaping the future of businesses?

Most companies we converse with are faced with the similar challenges of not being able to track or monitor digital transactions. Using blockchain technology to secure transactions, making it possible to track assets from production to delivery or use by end users, will solve this issue. 

This need for visibility will only increase for business across all sectors, from supply chain to healthcare. Blockchain technology will continue to play a critical role in reducing fraud, losses from counterfeit and gray market trading, as well as increase confidence in end users. 

Additionally, as blockchain provides all parties access to the same information, it will reduce communication or data transfer errors. Businesses will gain more control over outsourced materials and will spend less time on validating data; ultimately improving quality, reducing cost, or both. 

For those who haven’t started adopting blockchain my message would be, to embrace this change; decentralized, identity and credentialing solutions are taking very big steps with some of the world’s biggest and most trend setting companies. It will undoubtedly play a massive role in your business’ success. 

About NSN

National Skills Network (NSN) is a digital platform dedicated to creating awareness about skill-based education and training by sharing the positive impact. NSN has helped many organizations in bringing visibility to their initiatives, networking and promoting their vision for skilling Indian youth and making them employable.

Website: https://www.nationalskillsnetwork.in/   

About Certif-ID

Certif-ID is a dedicated skills community. It is a global networking platform built on blockchain technology, connecting technical training institutions, industry professionals and recruiters. On the platform, technical training institutes can issue digital certificates placed on blockchain, optimising their certification and placement processes. Technical professionals can build their SkillPass to showcase their skills, record online interviews, plan their learning journeys, store all relevant information in a digital portfolio and share their credentials with potential recruiters. Recruiters can screen and source candidates based on competency, verify their digital records and reduce recruitment efforts. Connecting key stakeholders in the technical sector, Certif-ID focuses on streamlining the sourcing process, bridging the skills gap between education and employment while establishing trust and transparency.

Website: https://certif-id.com/

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Photo: https://mma.prnewswire.com/media/1535600/Certif_ID_Tim_Miller.jpg

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Burns & McDonnell India Ranks No. 63 on the Great Place to Work List of 'India's Best Companies to Work For 2021'

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Burns & McDonnell India Ranks No. 63 on the Great Place to Work List of 'India's Best Companies to Work For 2021'

The Great Place to Work Institute Recognises Engineering Firm for Five Consecutive Years

VIKHROLI, Mumbai, June 18, 2021 /PRNewswire/ — Burns & McDonnell India has again been recognised as a great place to work by Great Place to Work Institute, marking the fifth consecutive year the company has earned this recognition, and the first year in the large company category. More than 850 organizations applied to the assessment and around 695 organizations made the final base that was evaluated to identify the 100 Best. The firm ranked No. 63 on the list of India’s Best Companies to Work For 2021.

The awarding organisation, Great Place to Work Institute, considers itself the global authority for creating, sustaining and identifying high-trust, high-performance culture. Great Place to Work recognises workplaces solely based on employee feedback and quality of people practices in an organisation.

Burns & McDonnell India earned this recognition by excelling on the five dimensions Great Place to Work evaluates for building a high-trust, high-performance culture: credibility, respect, fairness, pride and camaraderie. The study is based on over 25 years of research by surveying millions of employees across organisations.

This year’s employee survey found that 96% of its employees feel Burns & McDonnell India is a friendly place to work and 97% agree that the facilities and celebrations contribute to a great working environment. The survey found 94% participants are proud to work at BMI and feel great about how the company contributes to society. Additionally, the organisation has scored highly for fair treatment regardless of gender or race, as well as on work/life parameters.

“It is truly an honor to again be recognised as a Great Place to Work in India,” says Justin Sherman, CEO and managing director of Burns & McDonnell India. “We make our people successful by creating a high-trust, inclusive culture. During this trying period, I am so proud of the tremendous support we have provided for the safety and well-being of our employees and their families, as safety always comes first. Our entrepreneurial and collaborative spirit empowered our transition to working from home, and we continued to advocate team bonding, social gratification as well as professional and personal development. We engaged our employees through various wellness initiatives, safety sessions, counselling by health experts, recreational activities, and hobbies, which involved our extended families as well.

“We feel proud to have built a deeper connection with our employees, which is well beyond business. The feedback that our employees have expressed through the Great Place to Work survey speaks to the exceptional culture that our company stands on.”

Burns & McDonnell India received nearly 8,000 applications for employment in 2020 and onboarded more than 200 new employees virtually. The organisation has supported its employees during this time of the pandemic, with initiatives including COVID-19 care leaves, vaccination support, enhanced insurance buffer, flexibility to continue working from home during the pandemic and more. One of the company’s most significant initiatives has been cross-utilisation of staff across disciplines to able to retain employees amidst a global business slowdown.

For photos and support materials, please visit our MEDIA KIT.

About Burns & McDonnell

Burns & McDonnell is a family of companies with an unmatched team of 7,600 engineers, construction professionals, architects, technologists and scientists, consultants and entrepreneurs around the world. Burns & McDonnell India was established in Mumbai in 2013 as a 100% subsidiary.

About Great Place to Work

Great Place to Work® is the global authority on workplace culture. They help organizations quantify their culture and produce better business results by creating a high-trust work experience for all employees. Emprising®, their culture management platform, empowers leaders with the surveys, real-time reporting, and insights they need to make data-driven people decisions. They use their unparalleled benchmark data to recognize Great Place to Work-Certified™ companies and the Best Workplaces™ in the U.S. and more than 60 countries, including the 100 Best Companies to Work For® list published annually in Fortune.

Contact: Ingrid Nicar, Burns & McDonnell

470-508-9862

ianicar@burnsmcd.com

 

Burns & McDonnell

 

 

Video – https://www.youtube.com/watch?v=eJsMzsgGfVo

Video – https://www.youtube.com/watch?v=UaSvIc27UvE

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