- NPCI Teams Up With PhonePe, ToneTag And UltraCash To Launch Proximity Payments Pilot On UPI National Payments Corporation of India (NPCI), the umbrella organisation for all payment systems in the country, has reportedly launched a pilot to allow proximity payments through UPI. The pilot project has been rolled out in collaboration with three startups: PhonePe, ToneTag and UltraCash. The move, according to sources, is geared towards bolstering the country’s merchant […]
- Taking Lessons From The Competitors, BHIM Will Now Offer Cashbacks To Merchants After BHIM recorded 1 Bn UPI transactions in 2017-18, the government is planning to incentivise the merchants by providing cashback offers. In a report, ET quoted a top government official who is aware of the development as stating that the move will kickoff on April 14, the birth anniversary of Babasaheb Ambedkar, when the government […]
- Digital Payments Giant Paytm In The Process Of Seeking RBI Licence For P2P Lending After conquering the Indian digital payments sector, homegrown unicorn Paytm has now set its eyes on the country’s burgeoning alternative lending market. As per reports, the company is in the process of seeking a licence from the RBI to operate a P2P lending platform. Documents filed with the Ministry of Consumer Affairs (MCA) state that […]
- Digital Retail Payments Platform Pine Labs Raises $82 Mn Led By Actis New Delhi-based digital retail payments platform Pine Labs has raised a funding round of $82 Mn led by Actis Capital and joined by new investor Altimeter Capital. Pine Labs is an active player in point-of-sale payments in India, replacing the standard card-centric point-of-sale terminal with a smart, cloud-based payments platform aiming to reduce costs and […]
- Paytm To Invest $77 Mn To Facilitate QR Payments Among Offline Merchants Digital payments giant Paytm has announced that its QR feature now allows offline merchants to accept unlimited payments directly to their bank accounts at 0% charge. To that end, the company is gearing up to invest $77.75 Mn (INR 500 Cr) over the next 12 months to conduct merchant training and awareness initiatives. This move […]
- RBI Orders Ecommerce Players To Settle Seller Payments Within Two Days In response to the All India Online Vendors Association’s recent complaint regarding late payments by ecommerce companies, the Reserve Bank of India has ordered online marketplaces to follow the 2009 guidelines pertaining to the settlement of payments for electronic transactions involving intermediaries. As per reports, the country’s central banking institution has mandated ecommerce players to […]
- How Innoviti Is Capturing The Digital Payments Beast With $3 Bn Yearly Transactions In 700 Cities In a world inundated with overnight successes and viral hits, the story of Innoviti founder Rajeev Agrawal is refreshingly real. His long-meandering career as an entrepreneur has encompassed several milestones over the course of 15 years. From its inception as a wireless hardware systems manufacturer in 2002, Innoviti has steered its course into digital payments […]
- Digital Payments Platform Benow Allows Merchants To Accept Payments Through BHIM And YES Bank’s UPI Benow, a digital payments platform which empowers local merchants across Mumbai to accept digital payments through BHIM and other UPI apps was launched in Mumbai last month. Till date, it has enrolled over 1K merchants. Named as ‘BHIM-Enablement Service,’ it allows merchants to accept payments directly into the merchant’s bank account, eliminating the issue of […]
- Paytm Launches Payments Option For Non-Internet Users Noida-based mcommerce and mobile wallet platform Paytm has announced a toll-free number 1800-1800-1234, which will enable consumers and merchants without an Internet connection, to pay and receive money instantly. Using the service users can also recharge their mobile phones. The feature is aimed at feature phone users and non-smartphone users. Commenting on the announcement, Nitin […]
- Amazon India’s Cloudtail To Stop Sale Of Mobile Phones, Complies With FDI Norms Amazon India’s biggest merchant Cloudtail, has reportedly stopped the sale of mobile phones via the online ecommerce platform. Cloudtail is a joint venture between Amazon Asia and Infosys founder NR Narayana Murthy’s private investment fund Catamaran Ventures. The sales have been brought to a halt following India’s foreign investment policies that prevent a single seller from […]
- ShopClues Launches Seller-Bidding Platform ADZone Gurgaon-based online managed marketplace, ShopClues, has launched a seller bidding platform ‘ADZone’. AdZone is a dedicated sellers’ platform where merchants can enter a bidding process to initiate an ad campaign to advertise their products on ShopClues’ platform. This will help the merchants enhance their business by promoting products using native and custom ads on ShopClues. […]
- Paytm Facilitates Collateral-Free Working Capital Loans For O2O Merchants Mobile payments and ecommerce company, Paytm, has announced that it will now provide collateral-free working capital loans for small merchants and service providers. The company has tied up with various financial institutions like Capital Float, Aditya Birla Finance and Capital First to facilitate the loan for small merchants and service providers like kirana store owners […]