PayU to widen fintech play, bets on cross-border payments, offline business

PayU to widen fintech play, bets on cross-border payments, offline businessNaspers-owned payments gateway PayU India is betting big on the fintech space in India. While its primary focus will be on payments, particularly cross-border payments, it is also entering the credit business and offline space. In an interaction with VCCircle, PayU co-founder and chief operating officer Shailaz Nag said that the Gurgaon-based company plans to […]

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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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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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Budget 2017: Govt goes the whole hog on digitisation

Online_digital_ThinkstockPhotos-178976393Ever since the Modi government came to power in 2014, union budgets have had a sharp focus on digitisation and infusion of technology in everyday life. With budget 2017, comes as it on the back of a decisive cashless push, the government has indeed gone the whole nine yards—it appears “digitisation of everything” and creation […]

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In U-turn, NPCI tells PhonePe to adhere to UPI norms

In U-turn, NPCI tells PhonePe to adhere to UPI normsMaking a U-turn in the tussle between private-sector lender ICICI Bank and Flipkart’s digital wallet PhonePe, National Payments Corporation of India (NPCI) on Friday said PhonePe doesn’t adhere to interoperability norms of the Unified Payments Interface (UPI). NPCI, the umbrella organisation for all retail payments systems in India, added that PhonePe needs to first adhere […]

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ICICI Bank rejects NPCI call to unblock PhonePe

For-ICICI-Reject-Story_Shah-JunaidThe tussle between ICICI Bank and online retailer Flipkart’s digital wallet, PhonePe, isn’t likely to end soon with the private-sector lender again refusing to allow transactions through the payment app. The latest refusal comes after National Payments Corporation of India (NPCI), an umbrella organisation for all retail payments system in India, on Thursday evening asked […]

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Now make payments via Paytm sans the Internet

For-E-payments-Infra-2_ThinkstockPhotos-505770038Mobile wallet firm Paytm on Wednesday announced that users can pay and receive money as well as recharge mobile phones without an Internet connection. To enable offline transactions, the company has introduced a toll free number, where users can register their mobile numbers and set a four digit Paytm pin . “We are committed to […]

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Govt to incentivise district administration to boost cashless payments

For-Niti-Yog-Story_ThinkstockPhotos-512349742The government of India has introduced a series of measures to provide incentives to the district administration in order to boost cashless payments across districts, talukas, and panchayats. This comes at a time when there is a cash crunch after Prime Minister Narendra Modi abolished Rs 500 and Rs 1,000 notes in a bid to […]

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Exclusive: China’s Tencent close to investing more than $150 mn in FreeCharge

snapdeal_feSnapdeal, India’s third-largest e-commerce venture is in talks with Chinese Internet giant Tencent to raise more than $150 million for its digital payments platform FreeCharge, a person close to the development told VCCircle. “Tencent and FreeCharge have had intense discussions over the past two weeks and the talks are in advanced stages,” the person said […]

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