Payments News

On The Web

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Deals

India’s BharatPe Valued at $900 Million in New $108 Million Fundraise

“India may soon have another fintech unicorn. BharatPe said on Thursday it has raised $108 million in a financing round that valued the New Delhi-based financial services startup at $900 million, up from $425 million last year. Coatue Management led the three-year-old startup’s Series D round… BharatPe operates an eponymous service to help offline merchants […]
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Companies

PayPal Is Shutting Down Domestic Payments Business in India

“PayPal is shutting down its domestic business in India, less than four years after the American giant kickstarted local operations in the world’s second largest internet market…In a long statement, PayPal said its priorities had shifted in India, but did not elaborate why it was winding down the business. A report recently said the company, […]
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Global

In India, Smartphones and Cheap Data Are Giving Women a Voice

“Mallika, like 200 million other women in India, is illiterate. In the past few years though, millions of Indian women have gone online thanks to cheaper smartphones and mobile data, and apps that let them communicate using sounds and images. Anecdotal evidence suggests the phones are empowering many women to access information, build networks, and […]

On The Wires

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Companies

Mastercard and Razorpay Join Hands to Make Digital Payments More Accessible for MSMEs and Startups | Asia Hub

“To drive digital payments acceptance by small businesses and startups in India, Mastercard and Razorpay have launched a strategic partnership that combines Razorpay’s payment processing capabilities with Mastercard’s trusted and secure digital banking solutions and card services. The partnership will empower Indian micro, small and medium enterprises (MSMEs) in digitizing their operations, maintaining business continuity […]
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Companies

PayPal’s Xoom Adds UPI Payments Enabling NRIs and PIOs to Remit Money to India in Real Time

“Xoom, PayPal’s international digital money transfer service announced its integration with NPIL’s/NPCI’s Unified Payments Interface (UPI), a real-time payment system facilitating inter-bank transactions in India. Non-Residential Indians (NRIs) and Persons of Indian Origin (PIOs) living in the United States (US), Canada and Europe can now remit money to their family and friends in India. Using UPI to send money to India via Xoom is easier […]