It seems to be the perfect timing for Paytm to launch an Artificial Cloud for India in India. Alibaba is backing this venture.
We all have used the services of Paytm. Its one of the best & fastest way to pay payments online. Cashback on products also helps Paytm to retain its customers. Lets quickly read about Paytm’s new initiative for all of us:
Whats new for us from Paytm? AI Cloud computing platform
As we trust the services of Paytm, we should all welcome its new initiative of Make in India – “AI Cloud computing platform”. One97 Communications Limited, Paytm’s parent company has announced the launch of AI Cloud for Developers, Startups, and Enterprises. TheirAI Cloud is completely Make in India, and will store their data inside India.
Speaking on the launch, Sujit Kumar Mishra, Vice President – Paytm said, “At Paytm, we have always ensured the highest standards of customer data privacy and security. Our customers data is processed and stored locally in India with no access to any third party or investors.”
“Paytm AI Cloud for India”, this new AI-powered cloud will offer a suite of Business-Centric Appsfor Organisations that need high-quality solutions for:
a) Cloud computing.
b) Ready-to-use services to automate their workflow.
c) Easy to integrate payments.
d) Messaging and customer engagement tools such as messengers.
e) In-built CRM.
f) Predictive computation for businesses.
As per the press release, Paytm has partnered with Alibaba’s Cloud Computing for their backend structure.
Google, Amazon: We can’t store Data In India. How will they respond now?
Where Microsoft and Amazon are strongly opposing data localization plans of Indian Govt., Paytm has announced the launch of ‘Make in India’ AI Cloud promising all data to be stored inside India.
In the last few months, Govt. of India along with RBI and DoT have pushed for data localization norms in India.
Not only wallet companies and fintech startups, but Cloud giants such as Google, Microsoft and Amazon too have been asked to store their data inside India.
This is part of the new Cloud Computing Policy by the Indian Govt. Responding to these policies, several US-based big giants have stated that storing data inside India is not feasible. They have strongly taken a stand against this Govt. of India policy.
Amba Kak, a global public policy adviser at the Internet company Mozilla Corp said, “Data localisation is not just a business concern, it potentially makes government surveillance easier, which is a worry.”
It seems that besides Govt. surveillance, these big companies are also worried over rising cost involved in meeting this request.
In the month of September, high-level meeting between Indian and American diplomats and politicians will take place, and these trade groups are expected to raise their concerns during that time.
Thanks a ton for reading my blog. I wish Paytm to get huge success in its initiative for Statups & Entrepreneurs. I will keep you updated, as receive more updates.