1. E-Finance & Virtual Payments

2.  Google Now  Mobile Banking  Uber / Paytm Free Rides

3.  E-Finance  Digital /Mobile Wallets  BFSI - Road Ahead  Security  Privacy  Legal Framework  Unified Payment Interface  GST implication

4. Flipkart ‘Big Billion Day Sale’; sells 10 lakh products in 10 hrs.  Indian e-Commerce  2009- $ 2.5 billion  2023 - $56 billion (6.5 % of India's total retail market)  Securing transactions is very important  Volumes and Popularity attract threats  Comprehensive protection strategy is needed  Consumer Awareness is important

5.  AFP Transaction Banking Survey, 2015  2/3 rd of Corp Treasures highly satisfied with banking services  58% cited harmonization biggest area of improvement  Bitcoin and Ripple are shaping up as viable alternatives to traditional banking specially in B2C environments  SWIFT HACK !!!  Bangladesh bank not the only one  About $12 million stolen from an Ecuadorian bank  SAME OLD TRICKS – BILLIONS STOLEN  Malware circumvents local security systems of a bank  Gain access to SWIFT messaging network  Send fraudulent messages via SWIFT

6. Paytm  Over 100 Million users  30 Million App Downloads  Processing 60 Million orders per month Others ₋MobiKwik ₋FreeCharge ₋PayUMoney ₋Oxygen Wallet

7. Physical Wallet? U must be kidding?  New avenue of payments – smartphones converted into wallets  Prediction says – “148 million people worldwide will use their mobile phone to make an in-store purchase in 2016”  Growing market share for mobile payments, which now includes another major player in Samsung - will open up new potential attack vectors  Standard and Compliance requrement  Still payment Apps lack required security standards

8. IaaS, PaaS, Saas…have you heard of RaaS?  Ransomware-as-a-service is exploding: e-finance and virtual payment has given birth of Ransomware  FBI received 2,453 complaints; $24 million;  Trend Micro’s prediction - online extortion, Psychology and fear will form the backbone of threat landscape in 2016  Standardized/Organized payment service – Bitcoins (virtual currency)

9. PwC Report: “Data breaches 2015 - 888 incidents, 246 million records 28% valued this loss at greater than 30 lakh INR.” Anthem Breach - 80 million patient and employee records; Breach cost Anthem well over $100 million; OPM (office of personnel management) Hack - Government notifies 21.5 Million Victims Targeting all sectors – Healthcare, Govt., Dating, Retail, etc. Protection to Data Privacy in E- Commerce: is the need of the Hour, more so in developing economies

10. Information technology, Rules, 2011’ under Section 43A of Information Technology (Amendment) Act, 2008 talks about Reasonable Security Practices and Procedures and Sensitive Personal Data or Information Government working on ‘Right to Privacy’ Bill Cross-country B2B integration – conflict of laws Indian organizations should do due diligence to the IT Act and must comply with it. Try to bind the organization with a contractual agreement aligning it to Indian IT act

11. Country Initiative…. UPI is a system for instant, online bank/mobile payments The UPI can also be used for shopping online - instead of entering your debit card number, expiry date, and CVV code – A step towards protecting privacy Aadhaar enabled smartphones – becoming identity of a person Smartphone makers raised concerns on Security and Privacy

12.  GST bit of extra work in administration of business and major change management for all of us  Brings clarity and tax obligations for online businesses  Reduced complexities of entry tax and other processes  Uniform practice to be adopted by e- commerce companies  New tax implication might impact the prediction for ecommerce industry & growth can multiply. GST (Goods and Service Taxes) GST (Goods and Service Taxes)

13. Thank You