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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Google Pay, PhonePe and other third-party UPI apps to face 30 percent caps on all transactions

If you use UPI payment apps like Google Pay, PhonePe, Paytm, or any third-party UPI payment app, this news will concern you. The National Payments Corporation of India (NPCI) has introduced a 30 percent cap on all payments made via UPI apps. Basically, the NPCI has put a limit on all the transactions processed via a single company, in order to “address the risks and protect the UPI ecosystem as it further scales up.”

The new rule will be applicable from January 2021. Those services that have a share of more than 30 percent of the transaction volumes will be allowed a period of two years to comply with the rules. The new law comes just a day before WhatsApp is allowed to carry on transactions via WhatsApp Pay on its platform. The law is applicable to all third-party applications processing UPI payments, including bank apps too.

30 percent cap on all UPI payments

The new law makes it tough for popular UPI payment apps such as Google Pay and PhonePe. Both these services each account for 40 percent of the total market share. This means that both Google Pay and PhonePe have to look for ways to reduce the number of transactions made on their platform in order to comply with the law.

phonepe app, Yes Bank Impact

This gives a very good chance for other apps to improve their business, given that users of Google Pay and PhonePe will now have to look for other services in order to make the payments. Ever since its introduction, more consumers in India have started using the UPI method of payments.

Paytm and Mobikwik have shares of 20 percent combines, which gives them an opportunity to increase their share. Meeting the 30 percent cap alone for these services will see massive growth in the transactions processed by them. This could also translate to more business for BHIM and other bank apps that barey hold any share in the current scenario.

What does it mean for customers?

If you rely on Google Pay or PhonePe mostly for your UPI-based transactions, you will frequently see transaction failures. However, you will have a better chance fo making the payment via other unpopular services such as BHIM and bank apps.

 



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