PM Narendra Modi govt reiteration on digital infra in Budget 2019 is a welcome step: GoDaddy …

With impetus on strengthening the digital infrastructure, e-marketplace, initiatives supporting rural India and emerging technologies like artificial …
The impetus on strengthening the digital infrastructure, e-marketplace, initiatives supporting rural India and emerging technologies like artificial intelligence are welcome step, said Nikhil Arora, Managing Director and Vice President, GoDaddy India.
GoDaddy India MD & VP Nikhil Arora. (Photo: File)

The impetus in Union on strengthening the digital infrastructure, e-marketplace, initiatives supporting rural India and emerging technologies like artificial intelligence, government has reiterated its commitment to bring a holistic and sustainable technology-led development for the country, said Nikhil Arora, Managing Director and Vice President, GoDaddy India.

“We welcome the Union Interim budget 2019-20 and the government’s focus towards helping small businesses, startups and women-owned MSMEs. With impetus on strengthening the digital infrastructure, e-marketplace, initiatives supporting rural India and emerging technologies like artificial intelligence, government has reiterated its commitment to bring a holistic and sustainable technology-led development for the country,” he said.

On popular measures like rebate in tax, Arora said, “Moves to allow tax payers with income upto Rs. 5 lakh to get full tax rebate and abolish custom duty from 36 capital good are consumer friendly steps that will help put the money back in the consumers’ pocket and encourage ease of doing business.”

Sharing his views on a challenge of availability of the credit to MSMEs, Arora said, “In this year’s budget, we were hoping for a solution for the current credit issue troubling MSMEs. But at the same time, we are positive about the India government’s push towards digitally transforming the nation, and will continue working with our partners to ensure we play our part in realizing this vision, providing right tools and solutions to enable small and independent businesses to get their ventures online and grow successfully.”

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Ripple Launches An Accelerator Program For Companies Joining The RippleNet

Ripple recently announced a new accelerator program for commercial and … Read more: Ripple (XRP) Is Not The Second-Largest Cryptocurrency, …
Ripple | Accelerator Program | RippleNet | Xrp

Ripple recently announced a new accelerator program for commercial and enterprise companies that are willing to join RippleNet. The rewards, funded by the $300 Million in XRP from Ripple’s holdings, will be based on volume rebates and an adoption marketing incentive.

The volume rebates

Quite an interesting concept, the Volume Rebate will provide license and integration-fee rebates to RippleNet members as and when they reach integration and volume milestones within certain deadlines. These rebates depend on the volume processed and could cover anywhere between 50 to 300 percent of the integration fees and first year’s license fees.

Aimed at accelerating the adoption and usage of Ripple solutions, the rebate will be available in XRP or USD. The team further adds that the customers willing to receive XRP for the rebate will have selling restrictions. Such a restriction is quite profitable in the long run as it will prevent the market numbers from going wild.

A similar strategy was employed by PayPal for promoting their early day adoption and referral bonuses. Referral method has proven to attract more users onto the platform. Since the incentive is in XRP, the network is anticipating an added benefit of building an easy on-ramp for institutions to use XRP in their payment flows to lower liquidity cost in the future.

The test phase of XRP incentives has received a very positive early reception, as stated by Ripple.

Adoption marketing incentive

This program will match the marketing costs for eligible customers who promote Ripple solutions to their customers. In order to assist with the marketing efforts, Ripple will avail tailored marketing content, messaging frameworks and tools that will reduce their customer’s total costs.

The incentive is based upon a first-come, first served basis and can be earned through XRP or USD. The selling restriction pertaining to XRP applies here as well. Notably, Paypal was really popular in its early days for such programmes and it did boost their initial growth.

Not alone in such plans, Ripple might be reportedly joined by other evolving networks such as TRON and EOS, very soon.

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Apple demanded $1 billion for chance to win iPhone: Qualcomm CEO

January 12, 2019. By Stephen Nellis. SAN JOSE, California (Reuters) – Qualcomm sought to become the sole supplier of modem chips for Apple’s …
FILE PHOTO: Woman checks her phone at a flagship Apple store at Iconsiam shopping mall in Bangkok
FILE PHOTO: A woman checks her phone at a flagship Apple store at Iconsiam shopping mall in Bangkok, Thailand November 9, 2018. REUTERS/Soe Zeya Tun

January 12, 2019

By Stephen Nellis

SAN JOSE, California (Reuters) – Qualcomm sought to become the sole supplier of modem chips for Apple’s iPhone to recoup a $1-billion “incentive payment” that Apple insisted on, not to block rivals from the market, Qualcomm’s chief executive testified on Friday.

The payment from Qualcomm to Apple – part of a 2011 deal between Apple and Qualcomm – was meant to ease the technical costs of swapping out the iPhone’s then-current Infineon chip with Qualcomm’s, CEO Steve Mollenkopf testified at a trial with the U.S. Federal Trade Commission.

While such a payment is common in the industry, the size of it was not, Mollenkopf said.

Under the 2011 deal, Qualcomm was named Apple’s sole supplier of modem chips, which help mobile phones connect to wireless data networks, in exchange for which Qualcomm agreed to give Apple a rebate – the exact nature of which has not been disclosed. Apple could choose another supplier but it would lose the rebate, effectively increasing the cost of its chips.

Antitrust regulators have argued the deal with Apple was part of a pattern of anticompetitive conduct by Qualcomm to preserve its dominance in modem chips and exclude players like Intel.

At a federal courthouse in San Jose, California, Mollenkopf testified that Apple demanded the $1 billion without any assurance of how many chips it would buy, which pushed the chip supplier to pursue an exclusivity arrangement in order to ensure it sold enough chips to recover the payment.

Qualcomm was not aiming to block rivals like Intel, he said.

“The risk was, what would the volume be? Would we get everything we wanted, given that we paid so much in incentive?” Mollenkopf testified.

Earlier in the day, Apple supply chain executive Tony Blevins testified that it was Apple’s practice to pursue at least two suppliers and as many as six for each of the more than 1,000 components in the iPhone.

The company stopped trying to place an Intel modem chip in the iPad Mini 2 because losing the rebates on Qualcomm’s chips would have made the overall cost too high, he said.

“They made it very unattractive for us to use another chip supplier,” Blevins said of the rebates. “These rebates were very, very large.”

(Reporting by Stephen Nellis; Editing by Sandra Maler and Sonya Hepinstall)

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Apple demanded $1 billion from Qualcomm for chance to win iPhone

(Reuters) – Apple Inc asked for $1 billion as an “incentive payment” from Qualcomm Inc in order for Qualcomm to become the supplier of modem chips …

SAN JOSE, California (Reuters) – Qualcomm sought to become the sole supplier of modem chips for Apple’s iPhone to recoup a $1-billion “incentive payment” that Apple insisted on, not to block rivals from the market, Qualcomm’s chief executive testified on Friday.

FILE PHOTO: A woman checks her phone at a flagship Apple store at Iconsiam shopping mall in Bangkok, Thailand November 9, 2018. REUTERS/Soe Zeya Tun

The payment from Qualcomm to Apple – part of a 2011 deal between Apple and Qualcomm – was meant to ease the technical costs of swapping out the iPhone’s then-current Infineon chip with Qualcomm’s, CEO Steve Mollenkopf testified at a trial with the U.S. Federal Trade Commission.

While such a payment is common in the industry, the size of it was not, Mollenkopf said.

Under the 2011 deal, Qualcomm was named Apple’s sole supplier of modem chips, which help mobile phones connect to wireless data networks, in exchange for which Qualcomm agreed to give Apple a rebate – the exact nature of which has not been disclosed. Apple could choose another supplier but it would lose the rebate, effectively increasing the cost of its chips.

Antitrust regulators have argued the deal with Apple was part of a pattern of anticompetitive conduct by Qualcomm to preserve its dominance in modem chips and exclude players like Intel.

At a federal courthouse in San Jose, California, Mollenkopf testified that Apple demanded the $1 billion without any assurance of how many chips it would buy, which pushed the chip supplier to pursue an exclusivity arrangement in order to ensure it sold enough chips to recover the payment.

Qualcomm was not aiming to block rivals like Intel, he said.

“The risk was, what would the volume be? Would we get everything we wanted, given that we paid so much in incentive?” Mollenkopf testified.

Earlier in the day, Apple supply chain executive Tony Blevins testified that it was Apple’s practice to pursue at least two suppliers and as many as six for each of the more than 1,000 components in the iPhone.

The company stopped trying to place an Intel modem chip in the iPad Mini 2 because losing the rebates on Qualcomm’s chips would have made the overall cost too high, he said.

“They made it very unattractive for us to use another chip supplier,” Blevins said of the rebates. “These rebates were very, very large.”

Reporting by Stephen Nellis; Editing by Sandra Maler and Sonya Hepinstall

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Robinhood, the start-up upending stock trading, goes after banks with 3% checking and savings …

Popular stock trading app Robinhood, which disrupted Wall Street with zero-fee transactions, is taking aim at an even bigger market: banks.

Bhatt, who co-founded Robinhood in 2013 with Vlad Tenev, said the yield is not a “teaser rate.” Given the direction from the Federal Reserve, which is slowly raising interest rates, Bhatt said the 3 percent rate should be sustainable.

They are not necessarily going to make money on these checking and savings products right away. Robinhood is taking a page out of Amazon’s playbook by shunning profits for growth.

“Amazon built an entire business around a strategy that makes that long-term investments in financial services,” Bhatt said. “We fully intend to make money off of this but we do not need it to be profitable on day one.”

The start-up will split revenue from debit card transactions in a partnership with Mastercard. It will also earn interest off customer assets it holds, which are invested in government-grade securities like U.S. Treasurys.

For stock trades, it generates revenue by taking a fraction of a cent per dollar from each trade order as well as collecting interest on customer deposits. Robinhood also makes money on a paid subscription service called Robinhood Gold, launched in September 2016.

Robinhood has faced criticism over its revenue model, especially considering its founding ethos, which some have categorized as “anti-Wall Street.” According to a report from Bloomberg, the company makes almost half of its revenue from selling its customers’ orders to high-frequency trading firms, or market makers, like Citadel. The practice, known as payment for order flow, is not uncommon on Wall Street. Almost all retail brokerages employ it.

Robinhood issued a statement after the report, saying like the rest of the industry, it “participates in rebate programs which help customers get additional price improvement for their orders by creating competition amongst the exchanges and liquidity providers who fill the orders, often resulting in superior execution quality.”

Robinhood also said in the statement it does not sell personally identifiable data of any kind to execution venues.

“Robinhood does not, has not, and will not sell customer information,” the company said.

WATCH: JP Morgan is breaking into mobile trading

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