Shares of One97 Communications Limited, the parent company of Paytm, saw a 5% jump in early trading on Monday. This surge came as Morgan Stanley maintained an equal-weight call on the stock with a target price of INR 555 per share. Currently, the stock is trading at INR 428 on the NSE.

The boost in shares follows a clarification from the Reserve Bank of India (RBI) regarding Paytm’s UPI operations. The RBI has advised the National Payments Corporation of India (NPCI) to consider Paytm’s request to become a third-party application provider for UPI payments. This move aims to ensure seamless digital payments for UPI customers using the ‘@paytm’ handle, operated by Paytm Payments Bank, and to minimize risk in the UPI system.

This development is crucial for Paytm, as it comes amid the RBI’s deadline for implementing business restrictions on Paytm Payments Bank. The RBI has directed Paytm Payments Bank to halt all deposits, credit transactions, and UPI facility after February 29, with a complete cessation of banking services, including UPI and fund transfers, by March 15.

Despite facing a downturn following the RBI’s restrictions, Paytm’s shares have rebounded, gaining over 50% since the low point in January. The positive momentum continued last week, with Paytm emerging as the biggest gainer among Indian new-age tech stocks, surging by 19.4%.

Overall, these recent developments indicate a positive trend for Paytm, as it navigates regulatory challenges and seeks to maintain its position in the digital payments landscape.

Tech giants like Google, Microsoft, and OpenAI are heavily investing in AI and ML models to transform the digital landscape. However, the rise of AI also brings challenges like the spread of misinformation through AI-generated content. To combat this, Meta has partnered with the Misinformation Combat Alliance (MCA) to launch a fact-checking helpline on WhatsApp, targeting deepfakes and AI-generated misinformation.

The helpline, set to start in March 2024, will allow the public to report misleading AI-generated media, or deepfakes, via a WhatsApp chatbot supporting English and three regional languages. Messages will be vetted by fact-checkers, industry partners, and digital labs to verify content and debunk false claims.

The initiative aims to detect, prevent, report, and raise awareness about deepfakes. Meta is developing the WhatsApp chatbot, while the MCA is creating a central unit for deepfake analysis, collaborating with 11 fact-checking organizations. Bharat Gupta, MCA’s president, emphasized the DAU’s role in combating AI-enabled disinformation.

Meta has also announced plans to label AI-generated images on its platforms, helping users differentiate between real and synthetic photos. This move is part of Meta’s efforts to tackle misinformation, including reducing forwarded messages and removing fake accounts on WhatsApp.

Google Pay is rolling out SoundPods, portable speakers that validate and announce successful payments, to small merchants across India. The expansion comes as Google Pay consolidates its U.S. payments apps.

After positive feedback from a trial last year, Google is expanding SoundPods, which are widely adopted in India. These speakers, known as “soundboxes,” help merchants validate payments and contest illegitimate claims.

While Paytm leads the market, PhonePe is also expanding its device presence. More than 20 million merchants in India use similar devices, costing around $18 to $20 each.

SoundPods were designed for small Indian merchants who can’t afford traditional point-of-sale devices but accept UPI payments, the preferred method in India.

Google Pay is offering SoundPods at a minimal cost, with a one-time fee of $18 for a year or a one-time fee of $6.06 per day for 25 days in a month. Merchants processing 400 payments in a month with SoundPods will get $1.5 cashback.

Google is proud to contribute to India’s digital payments evolution and remains committed to the country’s digital transformation.