RuPay to offer CVV-free payments
India’s domestic card network RuPay will offer Card Verification Value (CVV) free payment experience for its debit, credit, and prepaid cardholders who have tokenised their cards on the merchant application or webpage.
Tokenization is a technology that ensures the security of card transactions by protecting customers’ card details from cyber fraud.
When a cardholder chooses to save their card for a domestic ecommerce transaction, they authenticate it by providing their card details (card number, CVV, and card expiry date) as a one-time activity. They then enter a One-Time Password (OTP) for two-factor authentication. The details are tokenized and securely stored with the merchant, eliminating the need for the actual card details to be saved. In subsequent transactions, customers can complete the payment process by simply entering the OTP, without having to enter the CVV or other card details again.
To ensure a smooth payment process, RuPay has collaborated with RazorPay and other major payment aggregators/gateways like PayU, CyberSource, Firstdata, and Paytm. The CVV-less payment experience is now available on platforms such as Rapido and Porter, and efforts are underway to extend this feature to other merchants.
Virat Kohli collaborates with Trion to launch one8 fitness app
Virat Kohli, in collaboration with Trion, has launched the one8 Fitness app, aiming to provide personalised workout programmes and comprehensive support for users to achieve their fitness goals.
Available on both Android and iOS platforms, the one8 Fitness app is designed to cater to the diverse needs of fitness enthusiasts. It features personalised workout programmes that adapt to the user’s fitness level and individual preferences.
Whether users are new to fitness or have an advanced training background, the app offers tailored programmes to suit their requirements. It covers various training types, including strength, mobility, and athletic performance, empowering users to elevate their fitness levels, whether they are at the gym, at home, or on the go.
Users can also receive motivational messages from the cricketer during their training sessions and access exclusive content showcasing Virat’s fitness regimes.
“I have always been passionate about fitness and have personally experienced the benefits of a healthy lifestyle. With the one8 Fitness app, I aim to provide a platform that encourages people to make fitness a part of their daily routine,” Kohli said at the launch.
AZAD engineering bags funding from Sachin Tendulkar
Sachin Tendulkar has made a strategic undisclosed investment in AZAD Engineering, an engineering and technology solutions provider for global OEMs in clean energy, aerospace, defence, oil & gas, etc., industries.
“We are thrilled to have Sachin Tendulkar as an investor, and it is a tremendous honour for us. As a company dedicated to promoting complex manufacturing and self-reliance, AZAD will focus on our vision and create more growth and innovation opportunities for India,” said Rakesh Chopdar, Founder and Managing Director of AZAD Engineering.
The company works with marquee global clients like Boeing, GE, Mitsubishi, Siemens Energy, Honeywell, Eaton, GE Aerospace, and Baker Hughes, and domestic giants like HAL, Godrej, TATA, and Mahindra Aerospace, among others.
IAN welcomes Priyank Garg as Managing Partner of IAN Alpha Fund
Priyank Garg, an entrepreneur and active early-stage investor, has joined IAN (Indian Angel Network) as the Managing Partner of the IAN Alpha Fund, the second fund in the series of IAN Group’s funds.
The new managing partner comes with over 26 years of experience in sectors such as cleantech, manufacturing, healthtech, SaaS, and technology.
“As an angel investor, I have been investing with IAN for 14 years across sectors and have really appreciated the depth of engagement, quality of portfolio founders, and focus on governance and returns. Having tried many others, this is the only platform that puts the health of the Indian startup ecosystem at the heart of its work from the day of its founding to today,” said Garg.
A graduate of Stanford and IIT Delhi, Garg has invested in over 60 companies in India and overseas during his 15-year tenure as an angel investor. In 2019, he co-founded IOTomation, a building IoT company, and currently serves as the President of the Delhi Chapter of ISHRAE (Indian Society of Heating Refrigeration and Air-conditioning Engineers).
Additionally, he is actively involved with various startup and early-stage platforms, including NASSCOM Emerge, India Innovation Initiative, and Samsung Innovation.
