Showing posts from June, 2018

Discussion: potential benefits of digital and cashless payments facility at Indian Post and Indian state owned public transportation services corporations.

A video of Indian Prime Minister Shri Narendrabhai Modi’s speech in Lลk Sabhฤ is recently uploaded on YouTube. This video outlines the importance underlying cashless and digital payments empowered society. The video is embedded at the beginning of this post.

The payments for products and services purchased at India Post’s customer service counters cannot be in rounded figures. This is specifically the case when an India Post customer needs to buy stamp for a postage article based on the article’s weight. If the India Post accepts digital payment through digital payment wallets then it wold be efficient for India Post customers to transact with India Post.

The conductors issuing travel tickets in state owned public transportation services corporations (e.g. GSRTC, MSRTC, KSRTC, and UPSRTC) carry only a limited amount of coins and bank notes to exchange with passengers purchasing travel tickets. If the conductors are authorised to accept digital payments the shortage of small change that …

BTTPS report may ease the information quality and accuracy concerns caused by simpler BAS initiative.

When ATO announced simpler BAS initiative effective from 01/Jul/2017 there were concerns about the possibility of compromise in the quality and accuracy of information being reported in the Business Activity Statements (BAS). A recent ATO announcement (on 08/Jun/2018) requiring electronic payments to be reported to ATO eases the information quality and accuracy concerns arising as a result of simpler BAS initiative.

The ATO announcement states that most electronic payments made 1 July 2017 onwards will be reported to ATO. These transactions include (but are not limited to):
credit and debit cardsBPAY®payments made through a third party payment processor
The report in which these transactions are reported to ATO is called Business Transactions Through Payment Systems (BTTPS). The report is lodged to ATO by financial institutions, third party and specialised payment providers relating to electronic sales of goods and services made by Australian businesses. The data gathered by ATO will be …

Foxtel wins court order requiring Australian ISPs to block piracy websites, a real victory or mere symbolism?