News Aggregation –​ ​Digital Wallets growth and Bluetooth, Bitcoin and Tax,​ ​Payment News

News Aggregation - Important news from other sources as well, apart from LTP. So you don’t have to put in effort to search elsewhere, just read on Let’s Talk Payments without missing anything good.

1. - The Future of Digital Wallets

While digital wallets are not necessarily new, they are growing more in popularity. Most commonly known are Amazon and Paypal, which allow you to send and receive money online. Users can also get debit cards, which allow them to get cash out at ATMs and pay for items directly from their digital wallet. According to Denee Carrington, a senior analyst at Forrester Research, traditional financial institution typically lags in adapting to new technologies. For that reason, most digital wallets are offered by non-banks. However, as they are growing in popularity, more traditional banks are looking at joining the digital wallet market in order to expand their services to customers.

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2. Money.cnn - Bluetooth may make digital wallets mainstream

Digital wallets and mobile payment solutions are now a dime a dozen, but hardly anyone uses them in place of credit cards or old-fashioned cash. That could soon change with a little help from of an old, familiar technology: Bluetooth.

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3. - Credit Cards Have Not Evolved With the Internet. Enter Bitcoin.

The credit card has a lengthy history. One of the first iterations of plastic was actually made of sheet metal. It was called the Charga-Plate, developed in 1928. It was issued to frequent customers by merchants in the same way that department stores today give out credit cards.

To record a transaction a merchant would place the Charga-Plate into a device that allowed a paper charge slip to be laid on top of it. An inked ribbon would then be run on top of the paper, creating a record of the sale.

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4. Medianama - Income Tax Department Wants To Tax Bitcoin Miners In India

Income Tax department in India is looking at how they can impose tax on Bitcoin miners in India in the long run. However, they will not start this until RBI gives a clean chit to the coin which it had warned against recently. IRS officers had visited the office of Sathvik Vishwanath, CEO and founder of Coinmonk and Unocoin around the same time ED raided offices of and RBItco. He had all documents in order and had been paying taxes, so it turned into a technical discussion.

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