Tag "fintech"

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

PayPal is acquiring Swift Financial to expand lending business

By : CIOL Writers

Payments firm, PayPal is acquiring online lending company Swift Financial aimed at expanding its business that provides working capital to merchants. Financial terms of the deal were not disclosed. PayPal said the acquisition is to increase small business owners access

PayPal launches two new tech Innovation labs in India

By : CIOL Writers

PayPal has opened two new Innovation labs in Chennai and Bangalore, its first in India and third after the US and Singapore. “India is a hotbed for innovation given its evolving startup ecosystem, diverse merchant profiles, and enormous talent pool. To

Bajaj Finance invests Rs 225cr in MobiKwik for 11pc stake

By : CIOL Writers

Bajaj Finance is picking up nearly 11 percent stake in mobile wallet company MobiKwik by investing Rs 225 crore. Bajaj Finance made the corporate announcement on BSE on Wednesday stating that it had “entered into a Subscription Agreement with One MobiKwik Systems

ToneTag Audio Pod lets you transact offline via sound

By : CIOL Writers

In today’s world, technology is everywhere. Technology is involved in every little thing that we do in our lives. Even the way we make payments has evolved significantly. Today, we have different types of payment technologies available, including cards, mobile

Axis Bank’s accelerator program boosting innovative fintech, AI startups

BANGALORE, INDIA: Axis Bank has announced the completion of the first cohort of its startup Accelerator Program at its innovation lab,’Thought Factory’, in Bangalore. The bank might explore some of the novel solutions around Payments, Investments and Credit which are developed by the startups

Here’s how micro-lending startup SlicePay addresses students’ queries on lending

Soma Tah Access to small amount of credits and that too without collaterals can be very difficult for students. The ‘Buy now-Pay later’ micro-lending startup, SlicePay looks to solve this problem by giving students credit to buy products such as

Shoppers Stop partners ToneTag for sound-based contactless payments

By : CIOL Writers

Following in the footsteps of Digital India mission, leading fashion retailer, Shoppers Stop has partnered ToneTag, a proximity communications firm, to integrate and deploy ToneTag sound-based contactless payments at its stores. This technology will use sound-waves from mobile phones to enable

Snapdeal’s Jason Kothari takes additional role as FreeCharge CEO

Snapdeal announced the appointment of Jason Kothari as the Chief Executive Officer of FreeCharge and a commitment to invest an additional $20 million in the Company. In addition to taking on the role of the CEO, Jason will continue his

Blockchain-enabled global gifting startup Easter Egg raises $400K

By : CIOL Writers

Easter Egg, a blockchain-enabled, global gifting platform that enables people to gift across the globe, has raised $400K in its initial round of funding from Wealthy Ideas. The company plans to use the funds to hire new talent. Sandeep Sangli

ItzCash invests in expense management fintech startup Finly

By : CIOL Writers

Digital payments company ItzCash has made an equity investment in the Bangalore-based expense management fintech startup Finly. The deal has been bought to fruition through part equity investment and part business partnership. “The expense management market for corporates is approximately a

Airtel picks up stake in digital lending platform, Loan Singh

NEW DELHI, INDIA: Bharti Airtel  through its subsidiary Bharti Airtel Services has acquired a strategic equity stake in fintech company, Seynse Technologies, which built a digital lending platform, Loan Singh to provide easy loans for credit-worthy yet underserved borrowers. Seynse

Paytm to invest 600cr to expand its QR code-based payment network

NEW DELHI, INDIA: Paytm said that it will invest over Rs 600cr to enable merchants across India for acceptance of digital payments using its QR code based payment solution. The company is investing in scaling up manpower, technology, and merchant