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Jio Crosses 50 Million Subscriber Mark in 83 Days, 1,000 Customers Per Minute And 6 Lakh Per Day

28Nov By PriyankaNo Comments

News

Jio Crosses 50 Million Subscriber Mark in 83 Days, 1,000 Customers Per Minute And 6 Lakh Per Day

Mukesh Ambani-promoted Reliance Jio has crossed the 50 million subscriber mark in less than three months after its full-fledged 4G services launch to emerge as the largest broadband operator in the country. According to sources, Jio setting a new record has acquired 1,000 customers per minute (since September 05) and 6 lakh per day. "Jio continues to be the fastest growing company in the world and has crossed 50 million subscribers in record 83 days," sources pointed out. Airtel reached the same milestone of notching 50 million subscribers in 12 years, Vodafone and Idea took 13 years each. Reliance Jio Infocomm, the new entrant in the 4G market which is competing with the likes of Airtel, Vodafone and Idea Cellular -- had launched its commercial services on September 5, and as per the la...

From Cash to Cashless: Prime Minister Narendra Modi’s Sudden Move To Promote Digital Payment

28Nov By PriyankaNo Comments

INDIA, News

From Cash to Cashless: Prime Minister Narendra Modi’s Sudden Move To Promote Digital Payment

As calls for going cashless grow louder in India, a key challenge being faced globally is to check the continuing rise in the total value of currency in circulation and their share in the overall GDP -- a trend particularly visible in the US, Switzerland and Euro area. With Prime Minister Narendra Modi's sudden move to cancel the legal character of old Rs 500 and Rs 1,000 currency notes in the fight against black money and corruption, the focus is all the more high on digital payments as the way forward. However, experts feel that continuing rise in the circulation of currencies in economic activities could well be a key impediment in the transformation to a cashless and digital economy. India's cash to GDP ratio, an indicator of the amount of cash used in the economy is around 12 to...

Now You Can Dispense 2000 Rs Cash From Ola Cab

27Nov By PriyankaNo Comments

News

Now You Can Dispense 2000 Rs Cash From Ola Cab

After petrol pumps, cash can now be withdrawn by swiping debit cards at select Ola cabs as India's largest ride-hailing service partners with lenders like State Bank of India (SBI) and Punjab National Bank to ease cash crunch. With banks and ATMs not being able to cope with the rush for access to lower denomination or new currency after old Rs 500 and 1,000 notes were banned, cash dispensing through swipe of debit cards at POS machines was introduced at around 3,700 petrol pumps. The same is being replicated by Ola on a test basis in its cabs in Kolkata and Hyderabad where taxis with a bank officer and POS machine are parked at different locations and dispense cash of Rs 2,000 per card. Ola Chief Operating Officer Pranay Jivrajka told PIXR8 that the initial response has been trem...

7 Indian Startups to Join Google Launchpad Accelerator Program

24Nov By PriyankaNo Comments

News

7 Indian Startups to Join Google Launchpad Accelerator Program

Tech giant Google today said it has selected seven startups from India that will join the third class of its Launchpad Accelerator programme. The shortlisted startups from India include an on-demand wardrobe rentals service (Flyrobe), furniture and appliances rental service (RentoMojo) and tutor help service (HashLearn). Other chosen startups include Curofy (a platform for doctors to discuss medical cases with peers), Happy Adda Studios (offers an Indian word game Jalebi), Playment (allows users to earn money for playing games) and Kapture CRM (helps businesses to do better lead management). These companies will join startups from Brazil, Indonesia, Mexico Argentina, Colombia, Philippines, Thailand and Vietnam as part of the programme, Google said in a statement. These startups wi...

Infosys Invests 31.6 crores in Stellaris Venture Partners

24Nov By PriyankaNo Comments

FUNDING

Infosys Invests 31.6 crores in Stellaris Venture Partners

Infosys, a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has signed a definitive agreement to a Limited Partner investment of INR 31.6 crores from its Innovation Fund in Stellaris Venture Partners, an India-based early stage venture fund. This investment is towards the first close of Stellaris’ fund. India’s startup ecosystem is witnessing rapid growth led by areas such as cloud computing, Internet of Things (IoT), artificial intelligence and big data, as well as the widespread proliferation of smartphones. In this environment, Stellaris aims to back entrepreneurs building applications for global businesses, Indian SMBs and consumers in verticals such as financial services, retail, healthcare and education. Stellaris’ inves...

India Inc Commits $3.4 Billion For SDGs at Global Citizen Festival

20Nov By PriyankaNo Comments

News

India Inc Commits $3.4 Billion For SDGs at Global Citizen Festival

Corporate leaders today committed a whopping USD 3.4 billion to help achieve the sustainable development goals which can positively impact the lives of 500 million people across the country with a special focus on gender equality, education and water and sanitation. These financial offers were made at the concluding day of the first-ever Global Citizen Festival here today. The Global Citizens India chapter said this came in response to over 20 lakh initiatives and campaigning efforts by them, and the key focus will be ending extreme poverty. The body said that of the 25 commitments worth USD 3.37 billion, or Rs 22,940 crore, that will cover over 50 crore people, $2 billion will come from the International Finance Corporation Banking on Women Group for gender equality. Under this, Int...

Oxigen Converting Its Point of Sale in Mini ATM’s To Help Customers To Deposit Their Money

19Nov By PriyankaNo Comments

News

Oxigen Converting Its Point of Sale in Mini ATM’s To Help Customers To Deposit Their Money

Digital payments solution provider Oxigen Services is in the process of upgrading its point of sales (PoS) devices into micro ATMs to help customers in the present situation due to ban on Rs 500 and Rs 1,000 notes. "Micro ATM is a point of sales device which we have developed into a full featured banking access device and payment transaction device. We want to deploy these terminals in rural areas and in urban areas at all kirana and retail stores across India," Pramod Saxena, Founder Chairman & MD, Oxigen Services told PTI in an interaction. "We already have 2 lakh retail touch points, of these 60,000 stores have these PoS terminals but they are not micro ATMs, so we have started upgrading these terminals into micro ATMs now." He said Oxigen Services plans to deploy 2,000 mic...

Like Emerge App Why Your First B2B SaaS Should Be Free

18Nov By PriyankaNo Comments

Story

Like Emerge App Why Your First B2B SaaS Should Be Free

A good product often is the lifeline of many startups, and represents the collective dreams of the team. A good product should also be free or really low cost, if the company is looking to genuinely make society for the better. To that end, we want to offer our software free for the first user of each company. More than just making a quick buck, we want to bring real value to SMBs, of which there are 50 million in India alone. Interested? EMERGE App is tackling a major headache that trading and distribution companies have as more avenues have opened up for consumers and companies to interact. Order processing and inventory management solutions are highly sought after, numbering about 77 million results alone in Google, as companies need to cut down the inefficiencies, save costs, ...

Accion Venture Lab Completes First Successful Exit in India

15Nov By PriyankaNo Comments

News

Accion Venture Lab Completes First Successful Exit in India

Accion Venture Lab, the seed-stage investment vehicle of financial inclusion leader Accion, announced today that it has successfully exited an investment for the first time. Venture Lab has sold its stake in Varthana, a company providing specialized loans and support to affordable private schools in India, promoting access to and the quality of education for India's poor and emerging middle class. Venture Lab led the first institutional investment round in Varthana in May 2013. As of August 2016, with Venture Lab's active support, Varthana has supported more than 2,000 schools, 38,000 teachers, and one million students, and has disbursed more than $35 million to schools that serve lower and middle income Indians. "Varthana has reached great heights as an innovative financial services...

Paytm Acquired Delhi Based O2O Startup Shopsity

12Nov By PriyankaNo Comments

ACQUISITION

Paytm Acquired Delhi Based O2O Startup Shopsity

India's largest mobile payments and commerce platform Paytm has acquired a Delhi-based startup Shopsity, a O2O solutions to small retail stores. Earlier This move is in line with Paytm’s vision to create strong seller-focused services for its offline merchants. Shopsity is focused on small unorganized retailers, providing them with tools to attract and retain customers. Co-founders Danish Ahmed and Gaurav Arya have joined Paytm’s management and are actively working to strengthen seller services for the 800,000 strong offline sellers on the Paytm ecosystem. ”Shopsity has done a great job at providing innovative solutions to small offline retailers. By integrating their technology with our advanced seller services, we will be able to offer additional solutions to our fast-growing famil...

Paytm Introduces Nearby, a Seamless Way to Find Your Nearest Paytm Merchant

11Nov By PriyankaNo Comments

News

Paytm Introduces Nearby, a Seamless Way to Find Your Nearest Paytm Merchant

As part of its ongoing mission of helping India go cashless, Paytm, India’s largest mobile payments and commerce platform, today introduced the ‘Nearby’ feature on its platform. This will enable Paytm customers to get information about their nearest Paytm merchant. Paytm ‘Nearby’ will carry a directory of 800,000 of offline merchants and partners across India. In the first phase, this list is 200,000+ & will continue to grow everyday. Customers on their Paytm app or web can now browse through a list of shops & locations near them that offer services like accepting adding cash to e-wallet & upgrading accounts by doing KYC. This not only provides convenience to customers but also provides visibility to thousands of small and medium merchants by connecting them to millions of ...

Ecommerce Firms Paytm & Amazon Temporarily Halting COD Orders, Issue Advisories

10Nov By PriyankaNo Comments

News

Ecommerce Firms Paytm & Amazon Temporarily Halting COD Orders, Issue Advisories

Ecommerce companies are struggling to handle cash on delivery (COD) orders, following the government's decision to demonetise Rs 500 and Rs 1,000 currency notes, with firms like Amazon and Paytm temporarily halting the facility for customers. Some companies like Uber and BigBasket have issued advisories urging customers to pay in lower denominations, while others like Flipkart and Snapdeal have set limits to the value of orders that can be delivered through COD. According to industry estimates, about 70 per cent of the shoppers opt for cash while buying a product. "We have temporarily stopped cash as a payment option for new orders. Customers who had already placed COD orders before midnight 8/11 can pay for their orders using debit or credit cards or currency of valid denominations ...