Payments News
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Global

Paytm Rolls Out All-in-one Payment Device

“Paytm, India’s leading digital payments player, unveiled new products to target businesses and ward off rising competition from Google Pay, Walmart Inc.-owned PhonePe and Amazon Pay. Paytm introduced a stand that displays QR check-out codes that comes with a calculator and USB charger, a so-called sound box that provides voice confirmations of transactions, cloud software […]
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Global

Looks Like Walmart’s Investment in Flipkart Is Beginning to Pay Off

“In India, Flipkart and Myntra, two Walmart-owned e-commerce companies, together picked more online activity than rival Amazon. In the last quarter of 2019, these firms together clocked 1.7 billion app sessions compared to under a billion for Jeff Bezos’s company, data show. “Through these two entities, Walmart is beating Amazon in India with mobile app […]

On The Web

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Global

Cashless Payments Are Growing Faster in India Than Just About Anywhere Else

“Cashless payments are taking off in India, growing faster than in other countries around the world. The shift has attracted a host of tech companies, backed by deep-pocketed foreign investors, battling for market share. Digital transactions in India increased by 55% last year, compared with 48% in China and 23% in Indonesia, according to data […]
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Companies

Paytm Rolls Out All-in-One Payment Device

“Paytm, India’s leading digital payments player, unveiled new products to target businesses and ward off rising competition from Google Pay, Walmart Inc.-owned PhonePe and Amazon Pay. Paytm introduced a stand that displays QR check-out codes that comes with a calculator and USB charger, a so-called sound box that provides voice confirmations of transactions, cloud software […]
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Global

WhatsApp Pay Set for Phased Roll Out in India; Granted NPCI Permission

“Payments through WhatsApp were introduced to a million users as a part of trial run in February 2018. WhatsApp started its trial run by partnering with ICICI Bank. However, the company was awaiting regulatory nod to go live. The service is based on the Unified Payments Interface (UPI) standard, which has been developed by the […]
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Global

Airtel Payments Bank Rolls Out Aadhaar-enabled Payment System

“Airtel Payments Bank today announced that it has launched Aadhaar-enabled payment system (AePS) at over 250,000 banking points across India. Customers of any bank with Aadhaar-linked bank accounts can now make financial transactions at the designated banking points of Airtel Payments Bank. Customers of Airtel Payments Bank can also do financial transactions at any AePS […]
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Global

RBI Proposes Draft Rules to Set up Alternative Retail Payments System

“The proposed umbrella body will set up, manage and operate new payments system, especially in the retail space, comprising of but not limited to ATMs, White Label PoS, Aadhaar-based payments and remittance services. It will develop new payment methods, standards and technologies and also operate clearing and settlement systems.”
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Global

‘Low KYC’ Norm to Help Mobile Wallets Retain Their Customers

“In a move set to bring relief to scores of mobile wallet firms such as Paytm, PhonePe, Amazon Pay and their several million users, the Reserve Bank of India (RBI) will allow wallet service providers to continue operating their millions of non-compliant know-your- customer (KYC) accounts which earlier faced cancellation after placing certain transnational limitations.This […]
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