Payments News

On The Web

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Global

Reserve Bank Sets up a Rs.500 Crore Digital Payments Infra Fund

The Reserve Bank of India on Friday announced that it has setup a Rs.500 crore Payment Infrastructure Development Fund (PIFD) to support and improve the development of digital payments ecosystem in the rural and north east districts of the country. The central bank has made an initial seed contribution of Rs.250 crore to the PIFD […]
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Companies

Amazon in Talks to Buy $2 Billion Stake in Indian Telco Bharti Airtel

“Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in Indian mobile operator Bharti Airtel, three people with knowledge of the discussions told Reuters, in a move that could turbocharge India’s digital economy. The planned investment, if completed, would mean Amazon acquiring a roughly 5% stake based on the current […]
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Global

Google and Walmart establish dominance in India’s mobile payments market as WhatsApp Pay struggles to launch

“In India, it’s Google and Walmart-owned PhonePe that are racing neck-and-neck to be the top player in the mobile payments market, while Facebook remains mired in a regulatory maze for WhatsApp Pay’s rollout. Google Pay had more than 75 million transacting users last month, ahead of PhonePe’s 60 million users, people familiar with the companies’ figures […]
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Global

Mastercard, Axis Bank Partner to Bring POS Machines to Smartphones

“Digital payment major Mastercard has joined hands with private lender Axis Bank and French payment service provider Worldline, in a bid to offer the functionality of Point of Sale devices onto Android smartphones of small merchants in India while also be providing store owners value added digitisation services. The strategic alliance is created for expanding […]
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Global

With a Law, India Plans Lasting Ban on Cryptos

“India is looking to introduce a law to ban cryptocurrencies, as the government sees a legal framework as being more effective than a circular from the Reserve Bank of India (RBI) in this regard. “A note has been moved (by the finance ministry) for inter-ministerial consultations,” a senior government official told ET.”
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Companies

Google to offer loans to merchants in India

“Google said on Thursday it plans to offer credit to millions of merchants in India through its Google Pay app starting later this year as the American technology group looks to help small businesses in the country steer through the pandemic and also find a business model for its mobile payments service. The company said […]
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Deals

Slice raises $6M to help young Indians pay digitally and build credit score

“Slice offers a prepaid card that comes with a pre-approved credit line, Rajan Bajaj, co-founder and CEO of the four-year-old startup, told TechCrunch in an interview. The Koramangala-headquartered startup focuses on people like Nayeem — young demography comprising mostly of students, freelancers, startup employees and blue-collar workers. Bajaj said more than 250,000 customers use Slice’s […]
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Domains

Paytm to Introduce Contactless Ticketing for State-run Buses

“Paytm has announced the launch of contactless ticket buying facility for state-run local transport buses and promote safe intracity travel. The company is enabling it’s QR-based payments service on the buses combining it with the Paytm Soundbox for buying tickets. In a statement, Paytm said that It is in talks with 20 state transport departments.”

On The Wires

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