PhonePe

Amazon which recently began testing its UPI platform has now gone live

Users can now complete the transaction process by using their own unique UPI IDs

UPI had recorded a total of 672.75 Mn transactions in January

Paytm recorded 221 Mn transactions in January 2019

PhonePe and Google Pay clocked nearly 220 Mn transactions each in January 2019

Further, the average ticket size of a UPI transaction is about INR 1,600

KKR & Co, General Atlantic LLC, Tiger Global and Tencent may invest in PhonePe

The fresh funds will help PhonePe cash in on the growth in digital payments

PhonePe crossed 1 Bn transactions in December 2018

Binny Bansal and Sachin Bansal started Flipkart by delivering books themselves in 2007

Binny shares his experience of handing over the baton of his company to Kalyan Krishnamurthy

He left Flipkart on allegations of personal misconduct in November 2018

PhonePe Wealth Management Services were launched in December 2018

PhonePe aims to tap the growing base of Millennials looking to manage their wealth

The new unregulated businesses will be under separate entities

The new investment has been made to fight off increasing competition

Amazon Pay has also rolled out doorstep KYC services

Amazon Pay had received the last funding from its parent entity in November 2018

Has registered a new company on November 15

Terence Lucien and Aniruddha Shashkant Patwardhan registered as directors

The unit will be headquartered in Bengaluru

In 2018, a total of 118 acquisition deals were recorded in the Indian startup ecosystem

Of these 118 deals, the enterprise tech raked in the maximum number

Walmart's $16 Bn purchase of a 77% stake in Flipkart was the biggest acquisition deal of the year

OYO to add 2K stock options to its ESOP 2018 plan

Amazon looks to pick up more stake in Future Retail

I-T Department issued notices to Flipkart shareholders abroad

MeitY has asked sectoral regulators and relevant departments to define what constitutes sensitive personal information

Paytm Chief’s secretary Sonia Dhawan along with two others has been sent on police remand for 14 days against the charges of extortion

UIDAI has now reiterated that direct benefit transfers (DBT) will continue to be Aadhaar-linked and thus banks can continue with the AePS facility

UIDAI directed digital payment companies to submit confirmation of closure of Aadhaar-related authentication

The RBI has green signalled the interoperability of prepaid payment instruments (PPIs) issuing norms

Amway has sent a notice to Flipkart for allowing Amway’s direct sale representatives for selling its products ‘illegally’ on its platform

The US-companies have also written a letter to the Finance Minister, expressing their objection over the presence of iSPIRT members during the meeting

All payments companies that are operating in India need to store their data locally, latest by October 15

Around 16 out of 80 companies have not complied with the RBI directive yet