Payments News

On The Web

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Companies

Visa Invests in India-based B2B Payments Platform PayMate’s $25M Round

“PayMate, a Mumbai-based startup that helps businesses automate and digitize their payments, is raising $25 million in a new round, its founder said, as it looks to expand its presence within India and in international markets. In an interview with TechCrunch, Ajay Adiseshann, founder and CEO of PayMate, said the startup has already raised a substantial […]
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Deals

EBay Picks up Over 5% Stake in Paytm Mall – ETtech

“Ebay said its global inventory will be available to over 130 million active users on Paytm Mall and Paytm’s app ecosystem as part of the deal. The companies did not disclose the investment amount, but sources close to the transaction said the financing round is about $150 million.”
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Global

Samsung Pay in India Now Lets You Apply for Loans and Credit Cards

“Samsung Pay has received a feature update in India, which allows users to apply for credit card and personal loans through Paisabazaar. The latter is India’s largest online marketplace and compare tool for loans, and its “Chance of Approval” predictive algorithm was introduced last December.”
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Global

WhatsApp Pay Is on the Verge of Launching in India

“WhatsApp has created the necessary data storage facilities in India to introduce WhatsApp Pay to the chat app’s entire Indian user base, which is estimated to be between 350 million and 400 million users, according to The Economic Times. The service is now being audited by the India Computer Emergency Response Team (CERT-IN), and once […]
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Global

Indian Panel Proposes Fines and Jail Time for Cryptocurrency Use

“A panel reporting to India’s Finance Ministry suggested the country’s regulators have an “open mind” about a governmental cryptocurrency and, at the same time, proposed fines and up to ten years in prison for general use of crypto in the country. The panel, created by the Ministry of Electronics and Information Technology, the Securities and Exchange Board […]
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Global

WhatsApp to Roll Out Payments Feature in India This Year

“WhatsApp will roll out its payments service in India this year following a year-long pilot, its global chief Will Cathcart has said, as the Facebook-owned messaging giant taps an upsurge in digital payments in its dominant market. WhatsApp is ubiquitous across India, where data consumption is surging thanks to cheap internet, but a full launch […]
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Global

PayU India Launches Multi-functional Mobile App for Merchants

“PayU has launched a multi-functional mobile app for merchants designed to conveniently track their businesses on the move. Merchants can use the app to monitor their business performance and request for payments. It aims to simplify business for the small and medium merchants and augment the ease of business for 63 million MSMEs in the […]
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Global

Cashless India? Digital Payment Drive Not a Hit With traders

“Banks may be dutifully executing the government’s cashless agenda but there’s little buy-in from merchants. Fewer than half the vendors acquired by banks have gone cashless. A good 53 banks have been chasing targets but barely a dozen can claim a 50% success ratio when it comes to their merchants accepting payments digitally. And this […]
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Global

Concerns Over Security: Govt Fears WhatsApp May Share Payments Data With Facebook, Others

“Indian authorities are concerned that WhatsApp’s payment service might share user data with group companies Facebook & Instagram, compromising the security, privacy and non-commercial information of its subscribers. The government has asked the National Payments Corporation of India (NPCI) to look into the matter and ensure that user data collected through payment services such as […]
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Global

No MDR on Digital Payments to Companies With Rs 50 Crore Turnover – ETtech

“Keen to promote digital payments , the government on Friday said banks or other payment system providers will not impose charges, or merchant discount rate ( MDR ), on customers as well as merchants on digital payments made to establishments with turnover in excess of Rs 50 crore from November 1.The Central Board of Direct […]