Elon Musk, CEO of X (formerly Twitter), has confirmed the upcoming launch of Xmail, sparking speculation about its potential to rival Google’s Gmail. This follows rumors of Gmail shutting down, which Musk’s confirmation addresses.

The announcement came after a tweet from Nathan McGrady, a senior member of X’s Security Engineering team, inquiring about Xmail’s launch date. Musk’s response confirmed the service is in development, potentially reshaping the email service landscape.

Amid concerns over Gmail’s future, a viral post on X suggested Google’s email service would cease operations by August 1, 2024. Google clarified on X that Gmail is not shutting down and recent interface changes were routine updates.

Despite Google’s reassurances, discussions about email alternatives have surged. Some users are interested in trying Xmail, expressing distrust toward Gmail and a readiness to explore alternatives.

In other news, Musk, also SpaceX CEO, called for humanity to expand beyond Earth, advocating for a moon base and cities on Mars. He noted the lack of lunar missions since Apollo 11 in 1969, highlighting the need for further space exploration beyond historical milestones.

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.

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.