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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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PhonePe now lets you activate UPI using your Aadhaar number

Leading fintech platform PhonePe on Wednesday announced it has enabled UPI activation using Aadhaar-based OTP authentication.

PhonePe is the first UPI Third Party Application Provider (TPAP) App to roll out the Aadhaar-based UPI onboarding flow that will now enable several crore Indians to become a part of the UPI ecosystem, seamlessly and securely for the first time, the company said in a statement.

Under the previous UPI onboarding flow, a valid debit card was mandatory to set up a user’s UPI PIN during the UPI registration process, restricting access for a large number of Indian bank account holders who didn’t have a debit card handy.

The addition of Aadhaar onboarding for UPI will do away with this restriction, and allow previously under-served populations to experience the convenience and benefits of digital payments.

“We are excited to be the first fintech platform to offer Aadhaar-based authentication for our users, making the UPI onboarding flows even more simple and inclusive. We believe this is a very progressive move by RBI, NPCI and UIDAI and is a great example of the digital financial inclusion that UIDAI’s Aadhaar program has been able to drive,” said Deep Agrawal, Head of Payments at PhonePe.

In the new flow, the Aadhaar e-KYC flow will be made part of the UPI onboarding journey on the PhonePe App.

Users choosing this option will only need to enter the last 6 digits of their Aadhaar number to initiate the onboarding process.

They will then receive an OTP from UIDAI, and their respective bank to complete the authentication process. Post this, customers will be able to access all UPI features such as payments and balance checks on the PhonePe App.

“This will help expand the overall UPI ecosystem, and also onboard new customers to the digital payments fold. UPI has become a global exemplar, and countries across the world are looking to implement it. Going forward, we are closely working with NPCI to take UPI international,” said Agrawal.

With 41.5 crore registered users, one in four Indians are now on PhonePe. The company has also successfully digitised 3.3 crore offline merchants, covering 99 per cent pin codes in the country.

— IANS

The post PhonePe now lets you activate UPI using your Aadhaar number appeared first on BGR India.



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