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Paytm Tie-Up With Suzuki Motorcycle For Two-Wheelers Booking

29Jun By AnkitaNo Comments

BUSINESS

Paytm Tie-Up With Suzuki Motorcycle For Two-Wheelers Booking

India's largest mobile payment and commerce platform Paytm announced its strategic partnership with Suzuki Motorcycle India Pvt. Ltd. to offer its customers the largest assortment of bike and scooter models across all transactional platforms in India. With over 400+ Suzuki dealers on-board, the Paytm marketplace will now enable booking of all Suzuki two-wheeler models on its platform across India. As part of the association, Suzuki will also have a brand store on Paytm for higher consumer engagement guaranteeing an enhanced consumer experience. With the alliance, Paytm projects registering sales of more than 10,000 units to be sold on the platform within this calendar year. Paytm will also enable vehicle financing to provide higher degree of assistance to consumers while b...

Alipay Could Acquire Stakes in German Banking Software Wirecard

27Jun By PriyankaNo Comments

CHINA

Alipay Could Acquire Stakes in German Banking Software Wirecard

Wirecard AG is negotiating with representatives of Alipay, a unit of Chinese e-commerce giant Alibaba, about it taking a stake of up to 25 percent in the German banking software company, a newspaper reported on Sunday. Without citing its sources, the Bild am Sonntag weekly said Wirecard was in confidential talks with Alipay about it taking a stake of up to 25 percent, and possibly more later. A Wirecard spokeswoman declined to comment on the specifics of the report but confirmed that the company was in strategic talks with various partners, without elaborating. A source familiar with the matter said Ant Financial, which operates the Alipay platform, was not talking to Wirecard about an investment. In December, the two companies agreed to a deal to provide mobile phone payment servi...

24Jun By Press Trust of IndiaNo Comments

News

RBI Guidelines for Payments Systems

RBI today released its framework for Payment and Settlement Systems, with a view to moving towards "less-cash" society and ensuring access of mobile banking services to even basic phone users. The Vision-2018 reiterates commitment of RBI to encourage greater use of electronic payments by all sections of society so as to achieve a "less-cash" society, RBI said. "The policy efforts will also focus on ensuring that access to mobile banking services is seamlessly provided to the large number of users of non-smartphone handsets in multiple languages," it said. Leveraging on 5Cs-- Coverage, Convenience, Confidence, Convergence, Cost-- Vision-2018 focuses on responsive regulation, robust infrastructure, effective supervision and customer centricity, it said. "Building a robust payments infrast...

Not Interested to Join Interest Rate War With Banks – Shinjini Kumar, CEO, Paytm Bank

9Jun By AnkitaNo Comments

Entrepreneurs Talk

Not Interested to Join Interest Rate War With Banks – Shinjini Kumar, CEO, Paytm Bank

Financial technologies player Paytm Bank today ruled out joining the rate war in the savings account interest rate space when it launches its payments bank, instead, it will focus on increasing revenue-accretive transactions. "Obviously, we do not want our customers to lose money if they are keeping their money with us, but at the same time we dont want to fight a war on interest rates," Shinjini Kumar, CEO of the Paytm payments bank venture, told reporters. Kumar, who just joined the bank from consultancy major Pricewaterhouse Coopers, explained that it is "counter intuitive" for a payments bank to offer higher interest rates as it has restrictions on how it uses the deposits. "It is very counter-intuitive for a payments bank to offer higher rate of interest on savings because they w...

31May By NitishNo Comments

FUNDING

India’s Only Profitable Ecommerce Platform Invested 45 Crores in CCAvenue

India's first profitable e-commerce portal Infibeam said that it's investing Rs 45 crore in one of India's largest payment gateway CCAvenue and is currently "in further discussion for signing of definitive agreement". CCAvenue's payment solutions will be deeply integrated to Infibeam e-commerce marketplace and BuildaBazaar merchant store. Infibeam operates via its subsidiary NSI Infinium Global that holds e-commerce marketplace Infibeam.com and the do-it-yourself e-commerce platform BuildaBazaar. It's already has a joint venture with Avenues India called Avenues Infinite that operates the e-commerce marketplace Dhamaal.com. Infibeam owns 49.9% stake in the venture while the remaining 50.01% is owned by Avenues India. Infibeam likely to compete with other e-commerce platform in paym...

Bitcoin Wallet Zebpay Crosses Rs 100 Cr Turnover

20Apr By AnkitaNo Comments

News

Bitcoin Wallet Zebpay Crosses Rs 100 Cr Turnover

Bitcoin wallet firm Zebpay today said it has crossed Rs 100 crore turnover within 10 months of operations as more Indians are going for the digital currency. "In only 10 months, the company has crossed Rs 100 crore turnover in April 2016," Zebpay said in a statement. Zebpay, a Bitcoin app, deals with Indian customers only and it has made PAN number a must for users for opening of wallet, company co-founder Sandeep Goenka said. Bitcoins are digital money and their value is determined o the basis of their demand and supply. The digital money is limited in numbers. Only 21 million Bitcoins can be generated globally and they can be traded even infractions, up to eight decimals. The last bitcoin will be generated in 2140 but 99 per cent would be already there by 2040. At present, the va...

Vijay Shekhar Sharma to Head IAMAIs Payments Banks Group

15Apr By AnkitaNo Comments

News

Vijay Shekhar Sharma to Head IAMAIs Payments Banks Group

Paytm founder Vijay Shekhar Sharma will chair the newly formed Payments Banks Group at industry body IAMAI. Vodafone India business head (M-Pesa) Suresh Sethi will be the Vice-Chairman of the Group, Internet and Mobile Association of India (IAMAI) said in a statement. "Payments Banks is an innovative model of bringing unbanked population into the formal banking fold. Paytm along with other license holders, would make financial services accessible for every Indian through this innovative route," Sharma said. At present, six out of 10 payments banks primary licensees are IAMAI members. IAMAI has more than 50 companies representing PPIs, wallets, aggregators, business correspondents, PoS Operators, among others as members.

FreeCharge Drives Cashless Payments With Ezetap

23Feb By AnkitaNo Comments

News

FreeCharge Drives Cashless Payments With Ezetap

ANI- Counting and handling cash may soon become a thing of the past for offline retailers. FreeCharge, the digital payments platform, has inked a partnership with Ezetap, the Bangalore-based pioneer in mobile payments, allowing the entire base of FreeCharge users to immediately start using their wallets to make payments at thousands of Ezetap service points consisting of small and mid-sized retailers across India. The partnership draws FreeCharge closer its vision of creating an ecosystem where organised and unorganised merchant networks can come together and accept electronic payments. Ezetap's Universal Mobile Wallet Acceptance is India's first universal solution that allows merchants to accept customer payments from any mobile wallet through their existing Ezetap mobile poin...

Amazon acquired EMVANTAGE a Payment Gateway Startup

17Feb By AnkitaNo Comments

ACQUISITION

Amazon acquired EMVANTAGE a Payment Gateway Startup

Amazon.com has acquire EMVANTAGE Payments Pvt Ltd, a Noida-based online payment solutions provider for an undisclosed amount. Srinivas Rao, director of Amazon Payments India said in a press release "EMVANTAGE is a valuable addition to our team as we accelerate our payment offerings, ensuring the best in class online payment experience anywhere that customers shop with us,” As part of the deal, EMVANTAGE's team will join Amazon's payments team to develop solutions tailored for the Indian market. The deal is expected to close in the first quarter of 2016. EMVANTAGE provides an online payment gateway, besides solutions around mobile payments and pre-paid card solutions. Amazon had recently struck a deal to buy a 26 per cent stake in Westland Ltd, a subsidiary of Tata Group’s reta...

First Store Chain in Japan to Use China’s Online Payment Solution Alipay

19Jan By AnkitaNo Comments

BUSINESS

First Store Chain in Japan to Use China’s Online Payment Solution Alipay

Japanese department store chain Kintetsu announced on Monday that it will introduce China's online payment solution Alipay in four of its department stores in Osaka so as to attract more Chinese tourists. According to Kintetsu, it would be the first department store chain in Japan to use Alipay, though the well-known Chinese online payment solution has already been used by the discount chain store Don Quijote and the consumer electronics retailer Yamada Denki in Japan since last year. "Alipay is a payment platform with over 400 million users in China. Chinese customers will be able to use the Alipay app on their cellphones to pay for the commodities they have bought in our department stores, which will be very convenient for them." said Aki Shokyoku, foreign business dire...

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

27Nov By No Comments

News

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

Born out of a requirement of higher online payment success rate, Citrus is a key player in the Payment Gateway industry. It competes with major players like BillDesk, TechProcess, CCAvenue, etc. Citrus was co-founded by Satyen Kothari and Jitendra Gupta in 2011. It is engaged in the business of payment processing for credit cards, debit cards, bill payments, prepaid cards and all other kinds of payment instruments. The company has secured funding from Sequoia Capital and Ascent Capital. In this article, Tofler takes a look at their financial performance in FY 14-15. Founded in 2011 Turnover in FY14-15 INR 38 CR Expenses FY14-15 INR 53 CR FINANCIAL PERFORMANCE OF CITRUS PAYMENT The company earned a revenue of INR 38 crores in FY 2014-15 as...

Hotel chain operator Hilton payment systems hit by malware

25Nov By PriyankaNo Comments

News

Hotel chain operator Hilton payment systems hit by malware

Hilton Worldwide Holdings Inc said on Tuesday it identified unauthorized malware in some payment systems that targeted payment card information. A Hotel chain operator revealed that a third-party investigation found that the malware targeted specific payment card information, that included cardholder names, payment card numbers, security codes and expiration dates. Italiapharmacia24.com Hilton said customers who used their cards during a 17-week period – from Nov. 18 to Dec. 5, 2014 or April 21 to July 27, 2015 – were advised to check their bank statements. The information targeted, however, did not include addresses or personal identification numbers (PINs), the company added. The owner of the Conrad and Double Tree hotel chains did not provide details on the number of...