Digital Wallet

The PCI has asked the RBI to extend the deadline for converting minimum-KYC accounts to full KYC to February 28, 2020

The PCI has also proposed that a user with minimum KYC should be able to do P2P transactions of up to INR 10,000 a month

"In the event that the PPI industry may have to revert to paper-based KYC, we expect the cost of service to customers will increase manifold," the PCI said

The UIDAI Divides Authentication User Agencies Into Two Types — Local AUAs (Banks) And Global AUAs (Payment Companies)

MobiKwik Clocks Revenue Of $5.5 Mn And Expense Of $24.4 Mn In FY16-17

With This Update, Paytm Aims To Substantially Grow Its Money Transfer Business

Earlier, In November 2017, Paytm Also Rolled Out Its Instant Messaging Service, Paytm Inbox

The Development Comes Just Over Five Months After Amazon Pay Received A $40 Mn Capital Infusion

As Per RBI's Master Direction Released In October 2017, Digital Wallets Were To Become Interoperable Within Six Months

According To RBI Data, A Total Of 1.11 Bn Digital Transactions Were Clocked In January

The Option Is Currently Limited To Transactions Less Than $155.6 On Its Mobile Offerings

Earlier This Month, PayU India Made A Similar Announcement To Discontinue Its PayUMoney Wallet

Post acquisition, iKaaz Team Will Shift To Grab’s Bengaluru R& D Centre

Bajaj Finance Will Now Hold 12.60% Stake In MobiKwik