Indian govt drives e-payment

Entrepreneurs can now pay stamp duty sitting anywhere in India electronically by logging on to the corporate affairs ministry's Web site, states The Economic Times.

This removes the last hurdle for electronic incorporation of new companies without visiting a government office. The online payment facility is available in 22 states however; the Indian government expects to extend it to the rest of the nation soon.

The ministry, which has a computerised network called the MCA-21, already enables e-filing of other statutory documents required under the Companies Act.

Internet auctions giant eBay is reaching into the Israeli market, and is set to introduce a local branch of eBay subsidiary PayPal, an electronic payment company, reports Haaretz.com.

PayPal was founded in 1998 and acquired by eBay in 2002. It has two main areas of operation: between buyers and sellers on the online auction site, and between buyers and operators of online stores.

Millions of online stores are registered with PayPal, and eBay is hoping online Israeli retailers will join the list.

Electronic payment company EFT Canada has signed an agreement with Bell Canada, the country's largest communications company, to provide Bell's business markets division with an electronic transaction processing platform, says Earth Times.

The solution will enable customers of Bell Business Markets to automate and process the collection and disbursement of funds online.

The EFT Canada application is a division-specific solution, acting as a virtual gateway, simplifying and automating the processing of electronic funds transfer in Canada. The solution is expected to assist the Bell Business Markets in competing for and completing special projects.