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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Why Paytm halted mobile PoS rollout just a day after launch

Vijay Shekhar SharmaJust a day after the blockbuster launch of its mobile point-of-sale (PoS), mobile wallet firm Paytm has halted the rollout of its App PoS. The launch – which would have taken Paytm’s total merchants count from 15 lakh to 1.5 crore in just a week (as per the company’s claims) – has been delayed to […]

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Alibaba Group’s global MD Gowrappan joins Paytm board

PAYTM_Ankit_feAlibaba Group’s global managing director K Guru Gowrappan has joined Paytm’s board as an additional director. This marks the third top-level appointment in the digital wallet firm during the last one week. On October 20, Paytm announced that Amit Singhal, the former head of Google search, will join Paytm’s board of directors, while on October […]

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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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MobiKwik to power e-cash payments on IRCTC’s Food on Track app

MobiKwikMobile payments company MobiKwik and Indian Railway Catering and Tourism Corporation (IRCTC) have tied up to allow travelers to make e-cash payments on IRCTC’s e-catering app Food on Track. MobiKwik will power e-cash payments on the Food on Track app, which allows passengers to book food from restaurants have it delivered to their coaches. Passengers […]

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MobiKwik and FreeCharge trade barbs as mobile wallet war gets nasty

Which is the number two mobile wallet company in the country? That question has sparked off an online spat between digital recharge platform and mobile wallet venture MobiKwik, run by One MobiKwik Systems Pvt Ltd, and Snapdeal-owned rival FreeCharge. A Nielsen report on mobile wallets released last month said FreeCharge was the fastest growing digital […]

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MobiKwik gets $50M from Japan’ GMO, Taiwan’s MediaTek, others

MobiKwikGurgaon-based One MobiKwik Systems Pvt Ltd, which runs online recharge platform and mobile wallet venture MobiKwik, has raised $50 million in its Series C round led by Japan’s GMO Payment Gateway and Taiwanese semiconductor company MediaTek. Existing investors Sequoia Capital and Tree Line Asia also participated in this round, MobiKwik said in a statement. The […]

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Fintech startup TranServ raises $15M from IDFC fund, Micromax

TranServ_feDigital payments firm TranServ Pvt Ltd has raised $15 million (Rs 100 crore) in its Series C round of investment led by venture capital fund IDFC SPICE and consumer electronics maker Micromax Informatics Ltd. Existing investors Nirvana Venture Advisors and Faering Capital India Evolving Fund also participated in this round, the company said in a […]

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