Tag "fintech"

GrabPay hires new CTO to support expansion plans in Southeast Asia

By : CIOL Writers

On-demand transportation and mobile payments platform, Grab has appointed Vikas Agrawal as Chief Technology Officer (CTO) for GrabPay, its mobile payments platform. Vikas joins Grab from Paytm where he was the Senior Vice President of Engineering. Vikas was a founding member

Samsung Pay adds 1M new users in India in over a month

By : CIOL Writers

Digital payment is witnessing an unprecedented boom in the post-demonetization phase in the country. This was once again established when Samsung announced that its mobile payment service Samsung Pay added 1 million users in over a month. “On September 12 we

Paytm integrates BHIM UPI on its platform

By : CIOL Writers

Paytm has finally integrated the BHIM UPI app on its platform. “We are now targeting 200 million monthly users in less than two years. UPI will also allow larger ticket size transactions,” said Vijay Shekhar Sharma, founder One97 Communications. The development comes

Amazon pumps in Rs 260cr into Amazon Pay

By : CIOL Writers

In a bid to take on take on Flipkart’s PhonePe and Paytm, Amazon has pumped in another Rs 260 crores in its payment arm, Amazon Pay. According to the Economic Times, the e-retailer bagged the investment from Singapore-based Amazon Corporate Holdings

Flipkart to invest $500M in payments arm PhonePe

By : CIOL Writers

Flipkart has committed $500 million for its payments platform PhonePe, which is scaling its operations. The e-commerce major acquired PhonePe in 2015 and has since then  invested $75 million in the platform. This is one of the largest single investment commitments in the Indian

FastPay acquires media finance solutions company AnchorOps

By : CIOL Writers

Fintech company FastPay has announced that it is acquiring media solutions company AnchorOps. The deal would bring together the two companies focused on media financing. The details of the acquisition were not disclosed by both the companies. Excited to announce that

Mastercard sets up its first Innovation Lab in India

By : CIOL Writers

Mastercard launched its first innovation lab in India on Tuesday to work alongside the local fintech industry on future technology breakthroughs in digital payments, data manipulation, financial inclusion and fraud prevention. “Learning, innovation, and collaboration cannot exist in isolation. The

7 Ways Banks can Leverage Fintech

By : CIOL Bureau

It came as an unexpected blow but a blow it surely was. Out of nowhere, technology start-ups, species of an unknown fintech world and even pure-play technology companies, arrived in the comfort zones of conventional banks and changed the customer’s

Axis Bank completes FreeCharge acquisition; Sangram Singh is the new CEO

By : CIOL Writers

Axis Bank has completed the acquisition of mobile wallet firm FreeCharge and appointed Sangram Singh as its CEO. “Pursuant to the receipt of approval for the said transaction from the Reserve Bank of India, the bank has completed the acquisition

Amazon India to pump in fresh capital into its payment arm

By : CIOL Writers

In a bid to take on rivals like Paytm, Freecharge, and Flipkart’s PhonePe, Amazon is gearing up to pump in fresh funds into its digital payments arm, Amazon Pay, according to the filings with the Ministry of Corporate Affairs. Apparently, Amazon has increased

MobiKwik integrates its payment gateway into the IRCTC app

By : CIOL Writers

Digital payments firm MobiKwik is integrating its payment gateway, Zaakpay into the IRCTC’s Rail Connect app to enable customers book train tickets using MobiKwik’s payment gateway. MobiKwik’s payment method currently empowers more than 3,000 e-commerce websites and apps. “Our association with

Airtel Payments Bank integrates UPI on its digital platform

By : CIOL Writers

Airtel Payments Bank has become the first payments bank in India to integrate the Unified Payments Interface (UPI) on its digital platform adding to the customer choice and convenience for making secure digital payments to online/offline merchants and making instant money transfers to any bank

Google launches UPI-enabled digital payment app Tez in India

By : CIOL Writers

Falling in line with all the recent rumors, Google has unveiled a new mobile wallet in India- Tez to tap into the country’s booming digital payments industry. “Send money home to your family, split a dinner bill with friends, or pay

Paytm Payments Bank partners NPCI for RuPay-powered digital debit card

By : CIOL Writers

Paytm Payments Bank has partnered with the National Payments Corporation of India (NPCI) to launch a RuPay-powered digital debit card. Through the new digital debit card, customers will now be able to transact at all merchants who accept credit and

eMudhra launches Aadhaar eSign-based digital clearing for recurring payments

BANGALORE, INDIA: Digital identity and transaction management solutions provider, eMudhra has launched Aadhaar eSign-based National Automated Clearing House (NACH) gateway with National Payments Corporation of India (NPCI) – which aims to help large and small enterprises to collect recurring payment instructions from

KFC now lets you pay with a smile in China

By : CIOL Writers

If you happen to be at KFC’s new ‘KPRO‘ restaurant in the Chinese city of Hangzhou, you won’t have to bother much to make the payment for your sumptuous meal- Just smile and you’ll be done. Well, it isn’t the case that the

Paytm payments bank gets additional Rs 60cr through rights issue

By : CIOL Writers

The board of Paytm payments bank has approved a Rs 60 crore rights issue for its existing shareholders, including Paytm founder, Vijay Shekhar Sharma, the firm said in a regulatory filing. “…the consent of the board is hereby accorded to

Paytm renames its postcard service as ‘Lifafa’

By : CIOL Writers

Earlier this month, Paytm launched a new feature called the Postcard service- a digital version of ‘shagun’ which enables users to go cashless during festive occasions. The company is now branding its Postcard service that allows instant sharing of money across the

ItzCash owner Ebix acquires money transfer business of YouFirst Money Express

By : CIOL Writers

US-based software services firm Ebix has acquired the money transfer service scheme(MTSS) of YouFirst Money Express. The firms did not disclose the financial details of the deal. “Following up on the Wall Street Finance’s Money Transfer Service Scheme business acquisition

Capital Float raises $44M in Series C round led by Ribbit Capital

By : CIOL Writers

Digital lending platform, Capital Float has raised $45 million (Rs 293 crores) in Series C equity funding. The round was led by Silicon Valley-based Ribbit Capital, with participation from existing investors – SAIF Partners, Sequoia India and Creation Investments. In