Finance
India’s new SMS regulation creates havoc for banks, essential services
SMS deliveries have been down for days
Indian telecom service providers started implementing the second phase of a new SMS regulation, disrupting essential services like OTP (one-time passwords), bank updates, and e-commerce messages. This is an industry-wide issue affecting everything, including India’s identity verification program called Aadhaar and the Coronavirus vaccination portal called CoWIN.
The Telecom Regulatory Authority of India (TRAI) recently issued a guideline that mandated verifying every SMS and its content before delivery. The process is technically called scrubbing and was implemented on March 8, 2021. As a result, unverified and unregistered SMS messages were blocked by telcos.
TRAI says that scrubbing helps reduce spam or misleading messages that pretend to be from a financial institution. The process helps in differentiating between promotional and transactional messages. To control fraud, a blockchain-based solution is used by telcos to check every SMS’ header and content. If the source isn’t registered, the message won’t go through.
Telcos say that they simply followed the upgrade regulations and that telemarketers and companies are yet to join the formal registration process. Unfortunately, neither the telcos nor the banks have issued a statement to address public outrage.
Every transaction done by a credit or debit card is authenticated on the spot via a preset PIN or SMS OTP in India. For online transactions, a vast majority of users rely on OTPs, and these just aren’t getting delivered. Even SMS updates about a transaction aren’t able to go through. Telcos pushed back and pinned the blame on companies and their lax adoption, which have failed to comply with regulatory standards.
According to BloombergQuint, Axis Bank, one of India’s largest private banks, can deliver only 25 to 30 percent of the total messages. In the meantime, users are suggested to rely on alternative authentication services like Verified by Visa.
Finance
New luvit card offers flexible Buy Now, Pay Later installments
Simple application process, borrow up to PhP 200,000
FinVolution Group has unveiled the luvit card, making everyday payments accessible and flexible for users through a Buy Now, Pay Later approach.
The rollout marks the company’s move into card-based solutions, bringing installment-enabled transactions into a format that works both online and in physical stores — whether locally or abroad.
To get started, simply download luvit via the App Store or Google Play. Signing up on the app only needs minimal requirements and fast approval.
Once approved, users can start using the Mastercard-powered physical luvit card for a range of expenses. This includes daily purchases, bills, travel bookings, and other lifestyle spendings.
Users can borrow from PhP 2,000 to PhP 200,000 (~US$ 32.56 to ~US$ 3,255.80).
The Buy Now, Pay Later card is designed to accommodate various financial needs. Users can repay in installment options that work for them. In addition, a 0% interest installment is available for the first 40 days.
Finance
Atome now allows in-app bill payments with Bayad partnership
Pay for utilities, internet, government contributions directly within the app
Atome Philippines has partnered with Bayad to allow users to pay for utilities, internet, and government contributions directly within the Atome app.
The integration with the country’s largest bill payment aggregator is designed to help Filipinos manage household budgets more easily without the need for extra steps.
Atome users no longer need to switch from one app to another, nor visit websites to handle monthly bills. Bayad’s extensive network of billers and service providers can be accessed through the platform.
As such, electricity and water bills, as well as government fees, can be paid for directly via the app.
Beyond convenience, users will likewise earn Atome rewards points on every utility bill payment they make.
The partnership between Atome and Bayad is an important step in financial inclusion in the Philippines.
It gives unbanked and underbanked individuals a simpler and more rewarding way to manage essential household expenses.
Atome is known popularly for its Buy Now, Pay Later (BNPL) offering. It has tie-ups with retailers like fashion, beauty, travel, and more.
The digital financial service platform also offers a Mastercard-powered BNPL card, as well as petty cash loans.
Finance
Maya waives withdrawal, InstaPay transfer fees for Middle East remittances
Until April 10, for families relying on remittances from loved ones in the region
Maya is extending support to Filipino families receiving remittances from loved ones working in the Middle East. This is through rebates for withdrawal and InstaPay transfer fees until April 10 as developments continue to unfold across parts of the West Asian region.
From March 23 until April 10, Maya users who receive remittances from select Middle Eastern countries can unlock a set of transaction rebates. This is designed to help them access and use the funds more easily.
Select countries include: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Israel, Lebanon, and Jordan.
The region remains one of the Philippines’ most important remittance corridors. There are an estimated 2.4 million Filipinos residing in the region, based from Department of Foreign Affairs (DFA) data.
These overseas-based citizens contribute over US$ 6.4 billion in remittances in 2025 alone, based on preliminary Bangko Sentral ng Pilipinas (BSP) data.
Eligible Maya users who activate Maya XP will receive the following rebates:
- ATM withdrawals: PhP 18 credited back per transaction
- InstaPay transfers: PhP 15 credited back per transaction
In addition, eligible users may also enjoy cashback on mobile load purchases. The discount ranges from 1% to 3%, depending on their Maya XP level.
After receiving a qualifying remittance, eligible users will receive an invitation to activate
Maya XP. The invite will pop up within one to three days.
Eligible users can activate their Maya XP directly within the Maya app by accessing the Maya XP section in the Wallet Dashboard or Profile page and completing the quick “Get started” process, including providing the required consent.
Once activated, users can immediately begin enjoying rebates on eligible transactions.
-
Reviews1 week agoHONOR 600 Pro review
-
Singapore2 weeks agoSony Xperia 1 VIII arrives with AI Camera Assistant, bigger telephoto sensor
-
Reviews2 weeks agovivo X300 FE review: Don’t judge the camera by its cutout
-
News2 weeks agoHONOR Magic8 Pro gets Android 17 Beta 3 support early
-
Gaming2 weeks agoSEGA/ATLUS, animate launch year-long collaboration featuring popular IPs
-
Convenient Smart Home2 weeks agoSpotlight: The Tech Behind Every Screen You Use
-
Accessories3 days agoThe UGREEN Nexode Air 65W is the only charger I travel with now
-
News1 week agoXiaomi is making it easier for customers in the PH to shop
