PayU and Kreditech launch PayU Monedo in India, IBM study shows cybercrime a major challenge for businesses

Friday March 16, 2018 , 2 min Read

Online payment service provider PayU, and Germany-based fintech company Kreditech launched the beta phase of PayU Monedo in India. With PayU Monedo, the companies aim to bridge the credit gap between India's banked and underbanked population by offering instant short- and medium-term shopping credits at the checkout of popular ecommerce websites.

While cybercrime is on the rise, the response to it is inadequate. More than three-fourths of business organisations the world over do not know how to tackle cybersecurity issues, according to a study conducted by IT security research firm Ponemon Institute, in association with IBM. Indian firms recorded a 12.3-percent increase in the total cost of data breach in 2017. The average total increased from Rs 97.3 million in 2016 to Rs 110 million in 2017.

India ranks below all developed countries in the world on the happiness index. India ranked 133 out of 156 countries surveyed by the UN. That's an 11-place drop from last year. It also means India’s less developed neighbours - Pakistan, Nepal, Bangladesh, Bhutan and Sri Lanka are ahead of it on this count.

After working for over two decades with well-known brands, Dipali Patwa felt the market was in need of innovation and new ideas, and came up with the idea of Masala Baby, a lifestyle kids and baby brand that blends global cultural influences with a contemporary twist.

Six young Indians realised MNC products would always require a third-party vendor to integrate an entire material-handling system and thus started Addverb, which is changing the way plants and warehouses are automated in India by leveraging technologies in the supply chain to tap the maximum potential.