- Offline Mobile Payments Startup ToneTag Raises $1.3 Mn Funding Offline, proximity-based mobile payments solutions startup ToneTag has raised $1.3 Mn (INR 8.46 Cr) funding from an overseas investor, Tropical Star Limited. As per its regulatory filings accessed by Inc42, the Bengaluru-based fintech startup secured the financing in September 2017. Till date, ToneTag has raised more than $2.3 Mn funding across three rounds. The mobile […]
- Finance Ministry to Launch Google’s UPI Enabled Mobile Payments App Tez In India Google’s much awaited UPI enabled mobile payments app is finally debuting in India and will be officially launched by the Finance Minister Arun Jaitley in the capital today. The news was confirmed by the finance ministry via tweet. Tez will enable Indian users link up their phones to their bank accounts to pay for goods […]
- Bolstering Digital Payments In India: PCI Onboards Paytm Payments Bank CEO Renu Satti, Others As Members Staying true to its vision of promoting growth in the digital payments industry, the PCI (Payments Council of India) has reportedly on-boarded executives from payments banks and Bharat Bill Payment Operating Units (BBPOU) as members on its platform. The council is also planning to open its membership to small finance banks, as part of its […]
- Taking Notes From WeChat: Paytm Plans In-App Chat Service To Take On WhatsApp Paytm seems to have big plans for years 2017. After losing out on acquiring on FreeCharge, the company has now rolled up its sleeves to take on the market share of in-app chat services in India such as WhatsApp and Hike. The Alibaba Group-backed company is now in the process of integrating a WhatsApp like […]
- UIDAI Files FIR Against Ola Money-Owned Qarth For Misusing And Leaking e-KYC Details The Unique Identification Authority of India (UIDAI) has reportedly lodged an FIR with the Bengaluru police against mobile payments platform Qarth for allegedly misusing data accessed from the Aadhaar website. Chennai-based Qarth was acquired by cab aggregator Ola in March 2016, in a bid to strengthen Ola’s mobile wallet service, Ola Money. According to The […]
- Google Gearing Up To Enter Mobile Payments In India By Integrating Android Pay With UPI The mobile payments space in India will see a host of new players this year, with Google being one of them. As per National Payments Corporation of India (NPCI) Managing Director and Chief Executive A.P. Hota, Google is in advanced talks with NPCI to integrate its digital payment service, Android Pay, with UPI. The company […]
- MPOS Startup Mswipe Raises $31 Mn From UC-RNT Fund Of Ratan Tata, Others Mumbai-based mPOS startup Mswipe has reportedly raised $31 Mn funding in Series D round, led by UC-RNT Fund. UC-RNT Fund is the joint VC fund between Chairman Emeritus of Tata Sons, Ratan Tata and the University of California. Existing investors Matrix Partners India, Falcon Edge Capital, and DSG Consumer Partners also participated in the round […]
- Payment Gateway Telr Raises $3 Mn Series B From Innovations East Payment gateway Telr has raised $3 Mn Series B investment from Innovations East. The startup will use the recently raised funding to build out and enhance its core product proposition and roll out new payment methods. The funding will also be utilised to scale up operations in focus markets, especially India and other emerging markets. […]
- Payments Startup Airpay Secures $3.67 Mn Series A From Kalaari And Others Omnichannel payments platform Airpay has secured $3.67 Mn (INR 24 Cr) in Series A round of funding from Kalaari Capital. Existing investors Rakesh Jhunjhunwala and Rajesh Jhunjhunwala also participated in the round. The company plans to infuse the freshly raised funds in technology development, building the sales and distribution team, and support infrastructure to rapidly […]
- NPCI Gives A Clean Chit To PhonePe, Instructs ICICI Bank To Open Up UPI Transactions Earlier this week reports surfaced that Flipkart’s mobile wallet and UPI platform PhonePe had alleged that private sector bank ICICI had reportedly blocked its payments over ‘restrictive practices’ and ‘security concerns.’ Commenting on the development an ICICI Bank spokesperson said: “A certain non-banking application is following a restrictive practice of allowing only users of its own […]
- 10 Challenges Faced By Indian Ecommerce Businesses – And How To Overcome Them With the growth of the Internet, the ecommerce sector has seen a major shift in their strategies and developments over the years to tap as much of the consumer base as possible and, of course, to add to the ease of shopping online. Indian ecommerce retail sales constitute 4-5% of the total retail sales and […]
- Paytm Steps On Payments Bank Launch, Introduces Aadhaar Based KYC Noida-based mcommerce company Paytm has introduced Aadhaar-based eKYC (E-Know Your Customer) to make customer verification a real-time, paperless process. The eKYC is part of an iSPIRT initiative India Stack. Vijay Shekhar Sharma, Founder & CEO, Paytm said, “We are building India’s largest eKYC customer network to bring half a billion Indians to the mainstream economy. […]