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Axilor Ventures Tie-up With PayU India as Industry Partner For Its Accelerator Program

17Feb By AnkitaNo Comments

BUSINESS

Axilor Ventures Tie-up With PayU India as Industry Partner For Its Accelerator Program

Early stage fund, Axilor Ventures, bets on new opportunities around Fintech; signs up PayU India as the industry partner for its Accelerator Program. Axilor has recently announced doubling the intake for its Summer ’17 Accelerator Program. Fintech is one of the five focus areas for the cohort in the Summer '17 batch. Together with PayU India, Axilor aims to improve the odds of success of FinTech startups and make them investible faster. Ganapathy Venugopal, Cofounder and CEO of Axilor Ventures, said, “The recent changes have accelerated the adoption of digital services in both consumer and enterprise segments - financial services are one of the most underserved needs and will see rapid innovation. We are looking for Fintech startups that will drive this change.” “For startups in the pa...

India Post Gets Payments Bank Licence to Start Services

28Jan By Press Trust of IndiaNo Comments

News

India Post Gets Payments Bank Licence to Start Services

India Post has received payments bank licence from the Reserve Bank of India to start rollout of banking operations commercially under the permit. "India Post has received payments bank licence. The service will be launched as per schedule," a Department of Posts official said. India Post Payments Bank is the third entity to receive payments bank permit after Bharti Airtel and Paytm. Payments banks can accept deposits up to Rs 1 lakh per account from individuals and small businesses. The new model of banking allows mobile firms, supermarket chains and others to cater to banking requirements of individuals and small businesses. It will be set up as a differentiated bank and will confine its activities to acceptance of demand deposits, remittance services, Internet banking and oth...

Mobikwik Looking to Hire 1000 People From Ahmedabad, Lucknow & Others Cities

6Jan By AnkitaNo Comments

News

Mobikwik Looking to Hire 1000 People From Ahmedabad, Lucknow & Others Cities

Digital payments firm MobiKwik said it will invest over Rs 50 crore and hire 1,000 people during this quarter as it looks to expand its footprint across cities like Ahmedabad, Lucknow and Vijayawada among others. Aimed at enabling 150 million users in India to transact on its platform by early 2018, MobiKwik is setting up offices in 13 cities by the end of the first quarter of 2017. "We will be investing over Rs 50 crore in setting up new offices to cater to regional requirements and will be hiring over 1,000 employees, pan India, across technical and non-technical requirements," MobiKwik co-founder Upasana Taku said in a statement. These cities include Mumbai, Pune, Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, Noida, Lucknow, Vijayawada, Kochi, Jaipur and Chandigarh. "Po...

Mother Dairy Launches Aadhar Enabled Payment System at Booths

31Dec By PriyankaNo Comments

News

Mother Dairy Launches Aadhar Enabled Payment System at Booths

To promote cash less transactions, Mother Dairy Fruit & Vegetable Pvt Ltd today introduced Aadhar enabled payment system in more than 1,000 milk booths and 'Safal' retail stores. This service would now be available in addition to the existing modes like E-wallets and SmartChange Cards. "The decision to introduce Aadhar Enabled Payment System (AEPS) was taken by the company officials on December 27, 2016 and was implemented in more than 1,000 Booths in record 3 days," the company said in a statement. The service was commissioned in association with CSC e-Governance Service India Ltd under the aegis of Department of Electronics and Information Technology (Deity). "The AEPS mode of payment is one of the easiest mode of transaction as it does not require any physical cash or ca...

Now Shop Online on eBay Using FreeCharge

28Dec By AnkitaNo Comments

News

Now Shop Online on eBay Using FreeCharge

Leading mobile wallet platform FreeCharge today, announced its partnership with the online marketplace pioneer eBay India via Billdesk. With the partnership, both FreeCharge and eBay customers can access over 100 million product listings on ebay and pay for their order using the FreeCharge wallet option. Users can also avail 25% Cashback offer on selecting FreeCharge as the payment mode. FreeCharge offers its customers, the comfort of payment on shopping category partners like Snapdeal, Voonik, Jabong, Yepme, Zivame.com, Vishal Megamart, Pantaloons, Shoppers Stop and many others. Commenting on the partnership, Sudeep Tandon, CBO – FreeCharge, said, “We are extremely pleased to associate with eBay as their payment partner. While we are constantly trying to provide our users with a ...

ICICI Launches Eazypay Mobile App For Merchants

27Dec By NitishNo Comments

News

ICICI Launches Eazypay Mobile App For Merchants

In what it claims to be a first in the country leading private sector lender ICICI Bank today launched 'Eazypay', an app for merchants, retailers and professionals to accept payments on mobiles from multiple digital modes. The Eazypay, based on the Unified Payment Interface (UPI) of the National Payment Corporation, allows a person to make payments through credit/debit cards and online banking, and also through the 'Pockets', which is the digital wallet of ICICI Bank, the bank said in a statement. Any current account holder of ICICI Bank can instantly download the Eazypay app and start using it, it said, adding the facility can also be used by non- ICICI Bank customers. The app is available on smartphones with Android operating systems now and will shortly be available on the iOS ...

Global Payment Firm Paypal May Acquire 25% Shares of Freecharge

23Dec By NitishNo Comments

News

Global Payment Firm Paypal May Acquire 25% Shares of Freecharge

A leading online payment firm PayPal is in talks with freecharge team to acquire 25% stake as the report by Mint. The expecting amount of the acquisition may be around $200 million (approximately Rs 1,357 crore). Jasper Infotech Private Limited known as snapdeal owned FreeCharge.com. Initially United States-based online payments company PayPal had made an offer for a 51% buyout. However, Snapdeal, which owns FreeCharge, is not too keen on selling a controlling stake. As per recent scenario, Paypal looking to stand itself as a direct competitor of paytm to acquire the large number of Indian market share. After acquiring the stakes in Freecharge, Paypal can offer national and international payment through Freecharge app. The talk is final stage, while PayPal has hired Goldman Sachs...

21Dec By AdityaNo Comments

News

PayTm Faces Service Outage

Users of e-payments company PayTm today faced difficulties in transacting through the app which the company said was due to some "technical" error. "We are facing some technical issues. We will have it resolved shortly so please try again after some time," an automated message popped up on screen at time of transaction. When contacted, a Paytm spokesperson attributed the outage to challenges the company is facing with sudden jump in number of users and associated traffic. The spokesperson said that Paytm has added 20 million new users in last 40 days taking the total number of registered users with us to 170 million. "Furthermore, we are seeing much higher interaction per user as compared to earlier and are also witnessing continuous increase in the traffic on our platform. At the eve...

19Dec By NitishNo Comments

News

Paytm vs Paypal – A Legal Battle Over Logo

California based payment startup PayPal has filed a trademark infringement case against Indian leading e-wallet company Paytm. The company which was founded by Elon Musk and Peter Thiel in 1998, used a two-toned blue colour scheme for its logo and has alleged that Paytm has used the same pattern to exploit Paypal's "global reputation and grow its user base." PayPal in its notice states, “Such adoption and/or use of the impugned mark is likely to cause confusion and deception amongst members of trade and public in that they will mistakenly believe that the services under the impugned mark originate from the Opponent [PayPal] or that the Applicant [Paytm] is affiliated or connected with the Opponent, which is not the case.” However, many seems this tactics as a promotional marketing be...

Paytm to Complete 2 Billion Transactions This Year: VSS, Paytm CEO

8Dec By AdityaNo Comments

Entrepreneurs Talk

Paytm to Complete 2 Billion Transactions This Year: VSS, Paytm CEO

On its way to complete two billion transactions this year surpassing its own expectations, Digital payments platform Paytm today said it aims to become universal payments app across every bank account. The company also said it aspires to enter the US market in the long run as it sees an opportunity there. "Today Paytm is on the way to complete 2 billion transactions this year. I personally did not expect 2016 to end on such number. Our numbers are at 2 billion transactions this year, which in turn will enable us to become really the transaction layer on top of every bank account," Paytm Founder and CEO Vijay Shekhar Sharma told reporters here. He said, "With connectivity with the UPI (Unified Payment Interface)we will become the payment app for every bank account. With UPI support Paytm ...

Visa to Acquire CardinalCommerce to Secure and Accelerate Digital Commerce

3Dec By AdityaNo Comments

ACQUISITION

Visa to Acquire CardinalCommerce to Secure and Accelerate Digital Commerce

Visa today announced an agreement to acquire CardinalCommerce, an industry leader in e-commerce payment authentication. The acquisition will enable more secure, seamless payments, whether made through a browser, mobile app, or connected device, and will help Visa’s clients and merchant partners accelerate digital commerce. “This strategic acquisition combines Visa’s industry expertise and Cardinal’s critical role in payment authentication to bring added security to online transactions, reduce fraud, and support digital commerce which is the fastest growing commerce segment today,” said Mark Nelsen, senior vice president of Risk and Authentication Products at Visa. “By helping merchants, acquirers, and issuers better distinguish between good and bad transactions, Visa is in an even bette...

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...