Payments platform | Pixr8 News

Payment processor PayPal Holdings Inc on Wednesday launched domestic operations in India, a market already dominated by China’s Alibaba-backed PayTM, the country’s leading digital payments firm. PayPal’s entry in the Indian market comes as a push for cashless transactions by the Narendra Modi-led government is seeing more people use e-wallets and card payments. The online payment industry is pegged to grow tenfold to $500 billion by 2020. “India is transitioning away from our biggest competitor – cash – and our digital platform and technology has immense scope to enable this at scale,” Anupam Pahuja, country manager and managing director, PayPal India said. “For us, the marathon has just begun.” Alphabet Inc’s Google launched a localized payments app for India in September, tryi...

Payments platform Cashfree today said it has received USD 120,000 in seed funding from Silicon Valley-based startup accelerator Y Combinator. Cashfree was one of 130 startups globally selected for Y Combinator's Summer 2017 batch and more than 7,000 applications were received this year, a statement said. "The products we have built are first of their kind and are helping businesses scale and innovate faster. We already are a profitable business and are looking to process Rs 200 crore of monthly payments by the end of the year," co-founder Akash Sinha said. The startup claims to process more than Rs 50 crore of payments every month and has 1,100 merchants on its platform. Cashfree works as a payment gateway that automates inbound and outbound bank transfers. This replaces the slo...

Tag: Payments platform

PayPal Starts Payment Services In India

Cashfree Raises USD 120k From Y Combinator