Why govt’s proposed rules for prepaid instruments may hurt e-wallets

ThinkstockPhotos-85500716_feThe government on Wednesday released draft guidelines for digital wallet companies as part of its efforts to promote electronic payments, ensure security of transactions and strengthen grievance redressal for consumers. The draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 mandate, among other things, that digital wallets adopt multiple-factor authentication when a customer initiates […]

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Fin-tech sees sharp funding slowdown, but there’s a silver lining: KPMG

IDG, Accion to invest more in CreditMantriVenture capital (VC) investments in India’s fin-tech sector nosedived to a mere $216 million in 2016, a far cry from the previous year’s $1.6 billion, according to KPMG International’s quarterly report on global fin-tech investment that was released Wednesday. “This decrease highlights the impact a lack of mega deals can have on a country as […]

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Govt drafting policy for e-wallets, m-banking to mitigate cyber fraud risk

Fraud_ThinkstockPhotos-480137882The Ministry of Electronics and Information Technology (MeitY) is drafting a policy on mobile wallets and mobile banking to mitigate the risk of cyber fraud. Besides, to instil confidence among those who conduct digital transactions, the government is also considering insurance protection against cyber-crimes. Last month, too, media reports had said that the government was […]

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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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Oxigen partners with eBay for assisted retail

handshake-440959_fePayment solution provider Oxigen Services has got into a partnership with online marketplace eBay India, according to a press statement. This association will help Oxigen Services customers access over 100 million product listings on www.ebay.in. Under this association, Oxigen brings a unique O2O solution (Online to Offline) which integrates customer on boarding for eBay India […]

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We’ll focus on being a mobile payments firm, says FreeCharge’s Rajan

Govind RajanFreeCharge, the digital payments platform of Snapdeal, is increasingly playing an important role in the e-commerce company’s overall business strategy with both the entities cross-selling on each other’s platforms. According to a Nielsen report, FreeCharge holds the second position– after Paytm–in India’s mobile wallets space. But there is apprehension that the introduction of the Unified […]

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