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Global Payment Firm Paypal May Acquire 25% Shares of Freecharge

23Dec By NitishNo Comments

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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...

19Dec By NitishNo Comments

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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...

Nasper is Set To Acquire Citrus Pay For $180 Million

8Aug By NitishNo Comments

ACQUISITION

Nasper is Set To Acquire Citrus Pay For $180 Million

Citrus Pay, founded by Jitendra Gupta and Satyen Kothari in 2011 set to acquire by South African media and internet conglomerate Naspers for around $150-180 million, in an all-cash transaction deal. Japan's internet major Rakuten was also one of the contender to acquire Citrus Pay. However, the deal fell through. This acquisition deal is one of the largest deals in the Indian payments market. Earlier Snapdeal buy out Freecharge for $400 million (30% cash, 70% stock). The domestic payments market has been abuzz with mergers and acquisitions in the past year after vast opportunity created by leading players Paytm and Freecharge. ALSO READ: PayPal founder invest $3 million in Mumbai based startup citrus Pay Payment company Citrus Pay acts as a bridge between bank acc...

Payment Gateway PayPal Starts a Service to Safeguard Cross-Border Digital Transactions

30Jun By PriyankaNo Comments

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Payment Gateway PayPal Starts a Service to Safeguard Cross-Border Digital Transactions

International payment gateway PayPal today began a service to safeguard cross-border digital transactions which will, in turn, insulate sellers and buyers from frauds. Under the companys seller protection programme for intangibles, two types of buyer complaints will be covered ? Unauthorised Transaction, when a buyer claims that he or she didnt authorise the payment and Item Not Received, when a buyer pays for the service but claims that he or she did not receive the service. "A key objective for PayPal in India is to ensure that genuine sellers, small or big, are protected from unauthorised claims and chargebacks. Growing instances of online fraud act as a barrier for sellers selling online services and other intangible goods to clients abroad," PayPal India Country Manager and ...

PayPal appoints Anupam Pahuja as India Country Manager and MD

22Jun By AnkitaNo Comments

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PayPal appoints Anupam Pahuja as India Country Manager and MD

Global payments platform PayPal today said it has appointed Anupam Pahuja as the Managing Director and Country Manager for its India operations. Pahuja has been with the company for over six years, heading technology for APAC, PayPal said in a statement. As the MD & Country Manager for India, he will be responsible for all aspects of PayPal’s India business and further strengthening the company’s operations in India, he added. “India continues to be a key part of PayPal’s growth strategy. In India’s fast-growing e-commerce and payments market, we have enabled hundreds of thousands of small and medium businesses and entrepreneurs participate in the global economy,” PayPal Asia Pacific CEO Rohan Mahadevan said. With Pahuja’s appointment as the business leader of this market, Pa...