Vijay Shekhar Sharma sells 1% in One97 to raise $48.1 mn for payments bank

Vijay Shekhar Sharma, Founder, PaytmPaytm’s founder and chief executive Vijay Shekhar Sharma has sold 1% of his holding in the digital wallet’s parent firm One97 Communications Ltd, to raise nearly $48.1 million (Rs 325 crore). With the latest transaction, One97’s valuation reportedly stands at $4.8 billion (Rs 32,438.4 crore). The money will be used to fund the group’s proposed […]

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Paytm to merge wallet business with payments bank

PAYTM_Ankit_feOne97 Communications Ltd, the owner of digital wallet Paytm, said on Monday it will merge its wallet business with its upcoming payments bank to comply with Reserve Bank of India’s directions. The digital wallet will be transferred after the company gets necessary regulatory approval to start Paytm Payments Bank Ltd, it said in a blog […]

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Oxigen Wallet names former Airtel exec Saleem Mobhani COO

Saleem_feGurgaon-based payment solutions provider Oxigen Services India Pvt Ltd, which operates Oxigen Wallet, has appointed former Bharti Airtel Ltd executive Saleem Mobhani as its new chief operating officer. Mobhani will be responsible for strengthening the market position of Oxigen Wallet, the company said in a statement. Mobhani has about 20 years of experience in media, […]

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Netflix gears up for India launch, pricing strategy may hold the key

netflix_feNetflix Inc, the world’s largest video streaming company, may soon spread its wings to India. The Hindu Business Line, which reported the development first by quoting unnamed sources, said that Netflix may announce its India launch at the Consumer Electronic Show in Las Vegas later this week. For its India foray, Netflix is expected to […]

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Airtel adds mobile games to carrier agnostic Wynk portfolio

Telecom operator Bharti Airtel Ltd has expanded its Wynk portfolio of over-the-top (OTT) services by launching a mobile app-based platform that will host about 2,000 games. The operator agnostic platform, christened Wynk Games, will be freely available for Airtel users, the company said in a press statement. Non-Airtel users can access Wynk Games by paying […]

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Airtel’s music streaming app Wynk hits 12M downloads

Wynk Music, Bharti Airtel’s carrier agnostic app for music streaming, claims to have crossed 12 million downloads within 14 months of its launch. Two-thirds of downloads were made by users who do not subscribe to Bharti Airtel’s mobile telephony services, the company said in a press statement. The average Wynk user plays about five hours […]

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Uber integrates Airtel Money as a payment mode

Uber Technologies Inc has joined hands with telecom major Bharti Airtel for allowing its riders to pay with mobile wallet service Airtel Money. Starting with Mumbai, Bharti Airtel will also offer 4G internet access on Uber cabs to its drivers and customers. “Our partnership with Uber is directly in line with our commitment to offer […]

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Bharti Airtel to buy digital payments enabler YTS; names Manish Khera as Airtel Money CEO

India’s largest cellular services provider Bharti Airtel Ltd is planning to acquire digital financial service provider YTS Solutions and has named Manish Khera, founder of the Mumbai-based company, as the chief executive officer of its wholly owned subsidiary Airtel M Commerce Services Ltd (AMSL), which runs mobile money services under the brand name Airtel Money, […]

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Snapdeal ropes in former Airtel CMO as strategy head

E-commerce marketplace Snapdeal, which is run by Jasper Infotech Pvt Ltd, has appointed Bharti Airtel’s former chief marketing officer Govind Rajan as its new chief strategy officer. This is the latest in a series of top level appointments by Snapdeal in the past 12 months and the third from Bharti Airtel. As CMO for Bharti […]

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