Now sign up for mutual fund SIPs on Paytm Money without paying upfront

Customers of Alibaba-backed Paytm, looking to invest in SIPs through its mutual fund (MF) investments platform Paytm Money will now have an option to start to their SIPs and pay the investment amount later under its new service Register SIP Now, Pay Later.

Paytm Money will send the SIP for registration to the asset management company (AMC) after the first successful payment for SIP in the MF scheme is made, the company said in a blog.

“With this new feature investors who wanted to invest via SIPs, but didn’t have funds at the time of registering, can now choose to make the payment when they have the required funds,” said Paytm Money whole-time director Pravin Jadhav in a statement.

More than 75% of investors on Paytm Money are opting for SIPs, the company said. The service is enabled across all MF schemes from all AMCs.

Paytm Money said that the amount will be automatically invested on scheduled SIP date for investors who have opted for auto-pay for their SIPs. Those choosing for UPI or Net Banking mode of payment will receive reminders for the same.

The company claimed to have acquired more than 1 million users in “few months” of its launch to become the “largest platform for MF investments in India.”

Last month, Paytm had said that its users would now be able to track the performance of their mutual fund investments on its subsidiary portal Paytm Money for free.

Paytm Money claimed to have partnered with 34 asset management companies covering over 94% AUM of the mutual fund industry.

Paytm’s mutual fund arm operates from Bengaluru and has a team of over 250 members Paytm Money, which aims to become a full-stack investment and wealth management services company, offer users mutual fund investments starting with Rs 100 via systematic investment plan or lump sum mode.

The company is also reportedly planning to expand into lending and credit cards services.

Paytm, recently ventured into hotel booking space by acquiring hotel booking app NightStay. It also announced investment of over Rs 500 crore for scaling its operations and expanding its portfolio, the company said.

[“source=financialexpress”]

 

Facebook Privacy Debacle Continues as Popular Android Apps Found Sharing Data Without User Permission

Facebook Privacy Debacle Continues as Popular Android Apps Found Sharing Data Without User PermissionA bunch of popular apps on Android could be putting your privacy at risk, according to a study conducted by Privacy International. 61 percent of the apps that were tested were sending data to Facebook as soon as the user opened the app. The data was being shared even before the user was asked for their permission. This happened even if a user didn’t have a Facebook account or wasn’t logged into one.

Privacy International studied 34 popular Android apps to see if they send data to Facebook without a user’s permission. The information sent to Facebook included the app’s title, the user’s unique Android ID, and other app analytics.

However, some apps like Kayak were found sending sensitive data to Facebook. This included flight searches, travel timeline if children were being accompanied, and all the destinations that a user searched for. Most of these popular apps are available for free on the Google Play Store.

Some of the apps that were a part of the study included MyFitnessPal, Duolingo, Family Locator, Kayak, My Talking Tom, Shazam, Spotify, and several other popular apps.

The move is being seen as a clear violation of the General Data Protection Regulation (GDPR), which was set up in May this year. Under the new regulation, mobile apps cannot collect or share a user’s data without their permission.

Privacy International claims that the data collected from users’ devices can be combined to connect activities, interests, behaviours, and other activities of a user. Facebook could use this data, later on, to serve ads based on some highly specific demographics.

While Facebook asks app developers to make sure they can lawfully collect, use, or share their users’ data before sending it to Facebook, the default implementation of the Facebook SDK enabled automatic transmission of event data to Facebook.

After GDPR came into effect, Facebook did release a new feature in its SDK to delay the collection of logged events until a user has given permission to the app. But this was around 35 days after GDPR was implemented and currently works only on Facebook’s SDK version 4.34 and above.

Privacy International has put up a detailed analysis of its study on its website. The group has released details of how each app sends data to Facebook along with responses from each app developer.

This isn’t the first time Android apps have been found to share user data. Earlier in October this year, a report claimed that 88 percent of free apps on Android share data with Google.

[“source-ndtv”]

Facebook Privacy Debacle Continues as Popular Android Apps Found Sharing Data Without User Permission

Facebook Privacy Debacle Continues as Popular Android Apps Found Sharing Data Without User Permission

A bunch of popular apps on Android could be putting your privacy at risk, according to a study conducted by Privacy International. 61 percent of the apps that were tested were sending data to Facebook as soon as the user opened the app. The data was being shared even before the user was asked for their permission. This happened even if a user didn’t have a Facebook account or wasn’t logged into one.

Privacy International studied 34 popular Android apps to see if they send data to Facebook without a user’s permission. The information sent to Facebook included the app’s title, the user’s unique Android ID, and other app analytics.

However, some apps like Kayak were found sending sensitive data to Facebook. This included flight searches, travel timeline if children were being accompanied, and all the destinations that a user searched for. Most of these popular apps are available for free on the Google Play Store.

Some of the apps that were a part of the study included MyFitnessPal, Duolingo, Family Locator, Kayak, My Talking Tom, Shazam, Spotify, and several other popular apps.

The move is being seen as a clear violation of the General Data Protection Regulation (GDPR), which was set up in May this year. Under the new regulation, mobile apps cannot collect or share a user’s data without their permission.

Privacy International claims that the data collected from users’ devices can be combined to connect activities, interests, behaviours, and other activities of a user. Facebook could use this data, later on, to serve ads based on some highly specific demographics.

While Facebook asks app developers to make sure they can lawfully collect, use, or share their users’ data before sending it to Facebook, the default implementation of the Facebook SDK enabled automatic transmission of event data to Facebook.

After GDPR came into effect, Facebook did release a new feature in its SDK to delay the collection of logged events until a user has given permission to the app. But this was around 35 days after GDPR was implemented and currently works only on Facebook’s SDK version 4.34 and above.

Privacy International has put up a detailed analysis of its study on its website. The group has released details of how each app sends data to Facebook along with responses from each app developer.

This isn’t the first time Android apps have been found to share user data. Earlier in October this year, a report claimed that 88 percent of free apps on Android share data with Google.

[“source-ndtv”]