After mobile wallets and point of sale machines, Paytm has set up QR codes at places of worship.
In May 2016, Rajan was elevated to the post of CEO from COO of the company. He had also served as the CEO of Airtel Money in past.
India is the second largest market for Uber in the world and the company has already committed USD 3 billion investment in India.
Flipkart owned PhonePe's CEO Sameer Nigam says that differences with ICICI Bank which blocked the app have been amicably resolved, even as he cites UPI to be 'a nascent platform'.
"I will not stop till I can see a â€˜Paytm Accepted Here‘ sign in a London or San Francisco someday," Sharma said.
The Indian government has come up with quick fixes to lighten the burden of low cash supply on citizens and encourage staying invested.
When disputes become public, they further erode the brand â€“ a payment startups might have worked hard in building up via bootstrapping or limited marketing spend
Expanding scrutiny of suspicious transactions post demonetisation, the government has begun analysing deposits in new accounts and loan repayments as well as transfers to e-wallets and advance remittance for imports during the last 10 days of deadline to turn in junked notes.
Freecharge CEO Govind Rajan also talks about strategic investments in Freecharge and how the wallet has grown post demonetisation by government
Earlier this month, county‘s largest lender SBI also blocked online transfer of money to e-wallet majors such as Paytm, Mobikwik and Freecharge citing similar concerns.
Using an online wallet for investing is not an easy task. Monitoring your investments in MF using wallets can be a cumbersome activity for many.
Digitisation will be a clear winner and will influence how businesses will be conducted henceforth. Deposits in Jan Dhan account have more than doubled to Rs 87,000 crore in 45 days post demonetisation.
From shopping sites to cab-hailing platforms, businesses have prepped up to suit the paperless wedding needs of this season.
The State Bank of India (SBI) has blocked its customers from transferring cash into e-wallets through netbanking, according to sources. However, customers can top-up up the e-wallets via debit and credit cards.
The company has over 2 million registered merchants on its platform and has 147 million active transacting users.
From shutdowns to hockey stick curves, 2017 is expected to be a marquee year in Indian startup ecosystem. Even as companies with high cash burn and huge losses are expected to flounder for lack of investment, those who survive the trenches will see a beautiful valley ahead.
Even as Modi government is pushing to make India a cashless society, large parts of the economy remain cash bound for the living as well as the dead.
After card payments and e-wallets, payments through the new system can be made by just a thumb impression after the bank account is linked with Aadhaar gateway, he said at a DigiDhan Mela, an event organised to celebrate the success of digital currency push.
E-payment options such as e-wallets and Unified Payments Interface (UPI) have been quick to fill up the cash crunch caused by demonetisation, allowing peer-to-peer and peer-to-entity transactions.
It now aims to enable distributors and suppliers to receive payments digitally from these merchants in order to fully cover the distribution network.
According to a report by chipset maker Qualcomm e-wallets and mobile banking apps in India are not using hardware level security which can make online transactions more secure.
The Ministry of Electronics and IT has stepped up efforts to enhance cyber security infrastructure.
Interestingly, many global investors such as American Express, Sequoia Capital, Cisco Investments and others hold stake in Mobikwik too.
Online wallet companies have declared massive jump in traffic on the back of the ban on high-value currency notes. However, the data released by the Reserve Bank of India (RBI) paints a less buoyant picture, reveals a report in The Economic Times.
Digital wallet companies in India might soon find a new set of customers. To provide a fillip to the government's plan to enhance digital transactions in the country, market regulator Securities and Exchange Board of India is expected to soon allow investment in mutual funds through e-wallets, says an article in the Mint today.