Enterprise payments firm Airpay secures Series A funding from Kalaari Capital, others

For-Airpay-Fundraise-Story-TC_ThinkstockPhotos-505770038Mumbai-based payment services startup Airpay has raised Rs 24 crore ($3.6 million) as part of a Series A round led by Kalaari Capital and existing investors Rakesh and Rajesh Jhunjhunwala. The company, operated by Airpay Payment Services Pvt. Ltd, will use the funds to build its technology, sales, distribution and support infrastructure to expand its […]

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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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Flipkart-owned PhonePe crosses 10 million downloads in two months

PhonePeMobile payments entity PhonePe Internet Pvt. Ltd has crossed the 10 million downloads mark on the Google Play Store. The Flipkart-owned PhonePe, which launched its app based on the unified payment interface (UPI) platform about two months back, gained traction after the government’s demonetisation move, a report in a financial daily said on Wednesday. The […]

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Payments startup instantPay secures pre-series A funding

pexels-photo-29781New Delhi-based SMSdaak India Ltd, which operates digital payments startup instantPay, has raised between $3 million and $5 million (Rs 20 crore to Rs 34 crore) in pre-series A funding from Singapore-based RB Investments and Kaleden Holdings. The capital will be utilised for geographic expansion and development of new products, a report in The Economic […]

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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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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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It may not be a cakewalk for mobile wallet firms, warn panellists at Techcircle forum

PAyment12Following the introduction of unified payments interface (UPI)—that empowers users to initiate payment requests from a smartphone without using credit or debit card and internet banking—by the Reserve Bank of India (RBI), mobile wallet firms have to collaborate with banks to remain relevant and scale up, according to panellists at Techcircle Payments Forum held in […]

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Mobile payments startup JunoTele names former PayU exec as CBO

Vikrant-Khorana2Mobile payments platform JunoTele has appointed former PayU Money executive Vikrant Khorana as chief business officer. Khorana will be responsible for sketching a strategic roadmap for JunoTele, generating fresh revenue streams and expanding to new territories, according to a statement. Khorana previously worked as senior vice president and business head for non-commerce business at PayU […]

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Freecharge hires former Amazon executive as VP of payments

Fareed-Jawad_02Snapdeal controlled digital payments platform Freecharge has roped in former Amazon India executive Fareed Jawad as vice president of payments and principal product architect. At Amazon, Jawad was the principal product architect, responsible for building the core payment processing infrastructure for the organisation. Before joining Amazon, he was director of product management at Flipkart and […]

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