On The Web

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Global

Paytm Mall raises Rs 2900 cr from SoftBank, Alibaba

April 3 2018

• in
• India

“Paytm Mall has raised close to Rs 2,900 crore from SoftBank Investment Holdings and Alibaba.com Singapore E-commerce, a move that will give the online shopping venture of Paytm more financial muscle to take on giants like Flipkart and Amazon. Market watchers say that the deal values Paytm Mall at $2 billion.”

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Global

Amazon to continue investing heavily in payments business

March 30 2018

• in
• India

“Amazon India, which has doubled down on building out its digital payments business in the country, plans to continue investing heavily in the business and introducing more local innovations for Indian customers over the coming quarters, even as it grapples with new know-your-customer (KYC) regulations from the Reserve Bank of India (RBI), which have slowed […]

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Global

Aadhaar’s benefits for financial inclusion

March 29 2018

• in
• Authentication
• Biometrics
• India

“The public interest litigations (PILs) filed before the Supreme Court against compulsory linking of Aadhaar to bank accounts raise issues about the right to privacy, concerns of being treated on par with money launderers, and the right to be not deprived of property as a result of blocking of bank accounts. “

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Global

Paytm to enter mutual fund industry with a new app

April 5 2018

• in
• India

“This could be the Jio moment for India’s Rs22 trillion mutual funds industry. Asset management companies, which have as many as 18 million investors, are about to get a distributor in Paytm, which boasts of a customer base that is more than 16 times bigger.”

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Global

India’s ATM crisis proves that demonetisation failed and cash remains king

April 18 2018

• in
• Cash
• India

“For weeks now, ATMs across India have been displaying the “no cash” sign. The situation came to a head in the past few days, setting off a panic wave. Many of the counters have run dry in states like Andhra Pradesh, Telangana, Karnataka, Madhya Pradesh, Gujarat, Uttar Pradesh, Bihar, and Manipur. People are seen forming […]

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Context

‘40 Million Merchants Are Yet To Go Online, That’s An Opportunity’

May 14 2018

• in
• India

“After graduating from IIT-Delhi, Bipin Preet Singh had a choice between spending his savings on higher education in the US and setting up a startup. He chose the latter. As founder & CEO of MobiKwik, Singh helped the mobile wallet company raise four rounds of funding from investors, including Sequoia Capital, American Express, CiscoInvestments, Net1 and Bajaj Finance. MobiKwik has a […]

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Domains

Paytm Launches My Payments, Aims To Process $8.9 Bn Bank Transfers By Year-End

May 14 2018

• in
• India
• Mobile Payments

“Homegrown digital payments giant Paytm has introduced My Payments feature on its app to enable Paytm users to schedule and make recurring, high-value payments and other monthly remittances without any hassle.”

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Global

Viewpoint: The pitfalls of India’s biometric ID scheme

April 23 2018

• in
• Biometrics
• India

“More than a billion Indians now have the biometric-based 12-digit personal identification number called Aadhaar, which means foundation in Hindi. What started as a voluntary programme to tackle benefit fraud has now grown into the world’s most ambitious, and controversial, digital identity programme. Mishi Choudhary writes on why most advanced countries are not adopting similar […]

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Companies

Walmart May Launch IPO For Flipkart In As Early As Four Years

May 14 2018

• in
• India
• Walmart

“Walmart Inc said on Saturday in a filing with a U.S. regulator that it may take India’s Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart’s largest-ever acquisition.”

On The Wires

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Domains

ICICI Bank Enables Non Resident Indians (NRIs) to Send Money Through Social Media on its Money2India App

April 6 2018

• in
• India
• Remittances

“ICICI Bank, India’s largest private sector bank by consolidated assets, announced the launch of a service that enables Non Resident Indians (NRIs) to send money to a beneficiary in India using social media like WhatsApp and e-mail. Christened ‘Social Pay’, this first-of-its-kind service by any Indian bank is available on Money2India (M2I), the bank’s app for remittances. This new […]