What prompted Paytm to roll back 2% fee on wallet top-up via credit cards?

Paytm E-Commerce set to raise $252 mn in round led by AlibabaIndia’s top digital wallet Paytm on Thursday reversed the 2% levy on top-ups via credit cards it had introduced a day earlier, saying it was doing so keeping users’ convenience in mind and that it would instead put in place new mechanisms to check misuse. “We are conscious that this move caused inconvenience to a […]

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Why Paytm levied 2% fee on recharge via credit card, and MobiKwik latched on

For-E-payments-Infra-2_ThinkstockPhotos-505770038India’s mobile wallet companies have a knack for being in the news. Just a day after Vijay Shekhar Sharma-led market leader Paytm said it will levy 2% fee for adding money to the wallet using credit cards, arch-rival MobiKwik has announced that it will continue to offer “free” uploading of money to its wallet, including […]

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Meet five women entrepreneurs who overcame the odds

For-Enterpreneur-Story_ThinkstockPhotos-4912451372Taking up entrepreneurship is not easy but it is no longer alien to women in India. Many women have made a mark in the startup ecosystem and have shown what it takes to live their dream. Be it in e-commerce, fashion or digital payments, these women are scripting a success story despite social and cultural […]

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MobiKwik to invest $45 mn on merchant, user acquisition

MobiKwikDigital wallet MobiKwik, run by One Mobikwik Systems Pvt. Ltd, will invest Rs 300 crore (about $45 million) this year on acquiring merchants and users, as it looks to increase its share in the highly competitive payments market. Nearly Rs 50 crore is being invested to set up 13 offices and hire over 1,000 employees, […]

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How payments firm Oxigen is charting a different route to growth

Sunil-Kulkarni-_fePayment services provider Oxigen Services India Pvt Ltd plans to strengthen its core offline business and expand its digital offerings, as it looks to grow steadily and without burning a hole in its pockets. The company, majority-owned by South Africa’s Blue Label Telecoms Ltd, also aims to tap into more corporate clients and use its […]

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Online payments startup Razorpay turns profitable as sales rise 10-fold

For-PayU-Story-TC_ThinkstockPhotos-512349742Jaipur-registered online payment gateway startup Razorpay Software Pvt. Ltd has turned a profit in financial year ending March 2016, filings with the Registrar of Companies (RoC) show. The company posted a profit after tax of Rs 28.7 lakh for the year, compared with a loss of Rs 4.1 lakh in FY15. Net sales stood at […]

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Will abundant cash supply poop the m-wallet party?

Mobile-wallet_feWithout a doubt, digital wallets have been the biggest beneficiary of Prime Minister Narendra Modi’s November move to scrap high-value banknotes. The resultant cash crunch brought thousands of borderline and non-users into the ecosystem, something that would have otherwise taken a few quarters. Data on payment systems released by the Reserve Bank of India (RBI) […]

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Budget 2017: BHIM at centre stage, not digital payment startups

bhim_app_feUnion budget 2017 has clearly put the spotlight on digitisation, but that hasn’t really got players in the digital payment space excited as they feel the government’s emphasis is on promoting its own BHIM app rather than strengthening the entire ecosystem. In his budget speech, finance minister Arun Jaitley highlighted the success of BHIM, saying […]

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MobiKwik names former CRISIL exec Bikram Bir Singh as business head

2dec4b7-(1)Digital wallet firm MobiKwik has appointed former CRISIL executive Bikram Bir Singh as business head, it said in a statement. Singh will be heading government, corporate, travel and biller verticals at MobiKwik. He will focus on accelerating MobiKwik’s growth in various geographies. He will also drive ideation, planning and execution of business strategies, it said. […]

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Budget wish list: Cut corporate tax for startups, announce sops for fin-tech firms

Bipin-Preet-Singh_feThe budget must announce measures to upgrade digital infrastructure across the country. This will encourage more merchants and consumers to transact on non-cash, online platforms. Digital India is a laudable initiative. We need to improve digital literacy and connect cities, towns and villages with high-speed Internet networks so that every citizen has access to a […]

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