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PayPal launches Innovation Labs in Bengaluru and Chennai

PayPal

The top online payments organisation PayPal launches first Innovative labs in Chennai and Bengaluru technology centres. This is the first time in India to launch Innovative Labs. PayPal is the leading firm in providing financial services like transferring money via online, putting an end to traditional paper methods like cheques and money orders.

The company announced the launch of its new technology Innovative Labs which are first in India. Globally, India ranks third after the United States and Singapore in starting Innovative labs. The Innovative labs are fast, flexible and are very creative. They support a large variety of activities and different types of work ranging from individual to large group members of the organization.

Mike Todasco Director of innovation said. To cater the needs of the innovators in India in the most efficient way, we are very happy to announce the launch of our newest innovation lab in India.

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Innovative labs are the work space designed to enhance innovation. These labs will support innovation in various fields including Machine learning, Artificial Intelligence, Data Science, Basic Robotics, Wireless communication among others. They create a unique environment for creating and sharing information. It provides technology which enhances Conversations and decision making.

Guru Bhat, technology head of engineering at PayPal India stated, “With over one lakh forty-five thousand registered patents between 2013-16 to its credit, India’s innovation potential is enormous and will certainly break benchmarks with the right kind of encouragement,”

The main focus will be on three core areas; Innovation, Productivity, and Education which helps to develop new technologies and create a convention for employees to engage. Innovative Labs also helps employees to think across many themes. Some of the ongoing PayPal’s initiative PayPal Incubator which is launched in 2013 will be integrated with these Innovation Labs.

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PayPal claims Paytm New Logo Looks Similar to their Symbol

paypal and paytm war over logo

The famous online payments system PayPal has filed a case against the leading e-commerce website Paytm. It claimed that Paytm’s new logo looked similar to their design and stopped the registration of the Paytm new design in a notice with the local trademark office.

After reviewing the notice, the trademark office people says that PayPal has pointed out that Paytm’s logo seems like their current logo and is dishonestly and surprisingly similar to PayPal with the same color pattern.

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The notice sent by PayPal also stated that “The starting letters in each design grades in dark blue color and the second part is in light blue color. Moreover, both names begin with pay which clients have a have a habit of to remember more than the second part of the logo. Not only this, both names are of the same length. These matches caused to confusion among the customers, especially considering the reputation of the PayPal former design,”

Both the representatives of PayPal and Paytm not yet made any comments on the issue and let’s wait and see and how they resolve the problem.

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Speaking about this, Rahul Dev, a Tech Corporate Lawyer, submitted a post on LinkedIn. He said, “As per logo registration process in India, a company must advertise its logo, and if any other can raise issues or complaints, then they have to wait for four months.”

Paytm had promoted its design on July 18th of this year, which means PayPal complaint had filed on the last day of the legislative four-month period. As we know, Paytm is a fastest growing online retailer in India, and it has played a key role in the Government of India made a decision of banning Rs 500 and Rs 1000 notes. Paytm allows digital transactions through their wallets and this it has registered more than five million new users.

The industry trusts this to be a planned attack from the popular online payments system which is looking to reduce the fame of Paytm which has gained since the Demonetisation.

Cyber Attacks: Smart home devices used as weapons to disrupt Internet sites

Smart home devices used as weapons to disrupt Internet sites

External peripherals were used as weapons in hacking by the cyber attackers. The foundation was laid a month before Friday’s attack. A Mirai code which is a malicious malware was placed on the Internet.

The affect is however confined to the Eastern part of America and some of the European countries.

Twitter, PayPal, Spotify and Reddit are the major prey’s of this cyber attack. Some of the news websites also struggled due to this attack.

Internet connected accessories like Digital recorders and web cameras have become the weapons for this largest attack.

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DDoS or Distributed Denial of services which make the traffic immense and create the virtual traffic for a particular server is a type of cyber attack.

Investigating agencies quickly launched their precautionary measures. Though they are not so affective as the hackers used the most difficult methods to tackle.

Earlier, Middle-East countries suffered with the same type of attacks. Dyn is a company which is involved in the Internet traffic controlling. The US based company along with Flashpoint is jointly investigating into the cyber attack issue.

The Internet security breach is a challenging task for all the investigating authorities. FBI and US Department of Homeland security is also continuing with its own investigations.

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Hundreds of thousands of internet access points have been identified for the cyber attack. Unfortunately, tracing the IP addresses and blocking them could not solve the problem.

Google and OpenDNS cannot be blocked as they will stop the entire services on the internet. The attackers have chosen the Google and OpenDNS to initiate hacking.

Most of the top sites have confirmed the cyber attack. Twitter has confirmed the news. PayPal released a statement apologizing the users for non-functioning of the site in London for quite some time. But the company has not confirmed the cyber attack.

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