Payments News » India

Paytm launches PayPay in Japan, in joint venture with SoftBank, Yahoo Japan

October 22 2018

“Paytm, run by One 97 Communications Ltd, has launched a barcode-based smartphone payment service called PayPay in Japan, in a joint venture with SoftBank Corporation and Yahoo Japan Corporation, the company said in a statement on Monday.”

Global

India’s central bank refuses to give up control of the payments ecosystem

October 22 2018

in
India

“Who gets to govern India’s thriving payments ecosystem? The matter has become the latest bone of contention between the country’s central bank and prime minister Narendra Modi’s government.”

Domains

Flipkart, Amazon off the hook: No ecommerce policy for now, govt plans a set of tightened rules

October 17 2018

“The Indian government has decided to shelve its draft ecommerce policy for the time being and will instead put in place a set of rules arrived at in consultation with the country’s top two ecommerce companies, Flipkart and Amazon, according to two senior government officials.”

Global

India moves towards interoperable mobile wallets

October 17 2018

“The Reserve Bank of India (RBI), the country’s central bank, has issued the final set of guidelines for new rules designed to enable mobile wallet users to easily make payments and transfer funds to users of competing mobile wallet services. Reserve Bank of IndiaThe new rules are set out in Prepaid Payment Instruments (PPIs) — Guidelines […]

Global

Use single e-wallet account for all your digital payments soon

October 24 2018

“Those who do not use Paytm, and use MobiKwik or Oxigen instead, end up withdrawing cash from a nearby ATM to pay their share, or do a bank transfer. This was because you cannot transfer money from one e-wallet to another as of now. This is set to change soon. The Reserve Bank of India has issued guidelines on […]

Global

Banks may use Aadhaar QR code for paperless KYC

October 26 2018

“Based on legal advice from the attorney general (AG), the Unique Identification Authority of India (UIDAI) has said the law will not be violates as banks will not be accessing the Aadhaar database.”

Global

Confiscation of currency was not the aim: Jaitley on impact of demonetisation

November 8 2018

in
India

“Taking on critics of the move who say most of the banned Rs 500 and Rs 1,000 currency notes returned to the banking system, the finance minister in a Facebook post said: “An ill-informed criticism of the Demonetisation is that almost the entire cash money got deposited in the banks. Confiscation of currency was not […]

Global

India considers outlawing cryptocurrency use (but blockchain is still cool)

November 1 2018

“It seems India has no intention of slowing down its crusade against cryptocurrencies – but at least, it might be open to experimenting with distributed ledger tech. Following a meeting of the Financial Stability and Development Council (FSDC), the government is contemplating devising an appropriate legal framework to ban the use of cryptocurrency in India – and encourage […]

Global

State Bank of India and Hitachi join forces for cards and paytech venture

October 29 2018

“State Bank of India (SBI) and Hitachi Payments (Hitachi’s subsidiary in India) have signed a definitive agreement to enter into a joint venture to build “a state-of-the-art card acceptance and future ready digital payments platform for India”, according to the two parties.”

Companies

Visa Strengthens Commitment to Growing Digital Payments in India

November 16 2018

in
India
Visa

“Visa (NYSE: V) today announced a minority investment in BillDesk, a leading platform for online payments and bill payments in India. Visa’s investment and collaboration will help BillDesk develop new product lines for its payments and loyalty businesses and also expand its footprint into other geographies.”