Apr 19, 2021 03:45 PM IST
The funding boom continues for the Indian startup ecosystem. Digital payments and business banking platform Razorpay said it has raised $160 million in its Series E round of funding, at a valuation of $3 billion, barely six months after it raised funding that valued it at a billion dollar, underlining the huge funding interest in the current environment. In an interview with Moneycontrol's Chandra R Srikanth, Razorpay co-founder and CEO Harshil Mathur said the money will be used to expand its digital payments business in South East Asia, make acquisitions and build out its neo banking platform, with plans to hire over 600 employees. The round was co-led by its existing investors GIC and Sequoia India, with Ribbit Capital, Matrix Partners, and Tiger Global also participating.
- Apr 15, 2021 03:14 PM IST
Fear of contracting the deadly coronavirus has led to a global decline in cash usage and a surge in digital payments worldwide. However, despite the rise in digital payments in India, the overwhelming majority — almost 90 percent — of transactions in the country involve cash.
- Apr 03, 2021 05:08 PM IST
With over 200 million active digital payment users of in India, UPI transactions crossed 5 lakh crore in value for the month of March 2021.
- Mar 31, 2021 03:41 PM IST
Cash and cheques, the other payment alternatives, will occupy only 28.3 per cent share, the report by ACI Worldwide, which provides payment solutions to corporations, said.
- Mar 26, 2021 04:21 PM IST
The move is aimed at providing an opportunity for multiple players and mitigate systemic risks that could arise out of a few dominating the space.
- Mar 05, 2021 08:01 PM IST
Fino Payments Bank turned profitable at the operating level in FY2019-20, within three years of starting the operations in June 2017. It is eligible to convert to a small finance bank in 2021.
- Mar 05, 2021 05:04 PM IST
NPCI claims that the new app would revolutionise the way micro and small merchants receive payments.
- Mar 02, 2021 07:09 PM IST
Paytm is yet to put out a breakup of its numbers for February, so it’s hard to tell who really was No. 1 last month with both claiming to have recorded over a billion transactions.
- Feb 26, 2021 09:40 AM IST
The consortium will submit its proposal to the Reserve Bank of India on February 26
- Feb 18, 2021 10:16 AM IST
AePS, IMPS, NACH, and UPI have been identified for the IT systems upgrades. The process is aimed to be completed by March 2021.
- Feb 05, 2021 08:51 AM IST
The California-based digital payments company will undertake a restructuring exercise and from February 6, Indian merchant partners will be notified about plans to terminate contracts by April 1.
- Jan 12, 2021 07:39 PM IST
While COVID-19 caused digital payment volumes to decline by more than 30 percent in the first half of 2020, in the months between September and December, the volumes jumped 40 to 45 percent.
- Jan 12, 2021 03:00 PM IST
B2B payment companies such as Billdesk, Cashfree, Razorpay and PayU India scripted a solid FY20 performance, recording strong revenue growth while posting a profit or keeping losses within control. They are a sharp contrast to consumer facing payment entities such as Paytm and PhonePe, which are still haemorrhaging
- Jan 07, 2021 08:11 PM IST
The Bengaluru-based payments firm had suffered a massive breach back in August, when 3.5 crore masked card details were exposed in a hack and have been made public on the dark web. The incident came to light recently and has pushed the payments firm to undertake a proper forensic audit to ensure its systems are safe from future attacks.
- Jan 07, 2021 11:47 AM IST
Co-founder and CEO of the company Jose Thattil said the aim was to make transactions seem “invisible” and “eliminate friction in payments with 100 percent reliability”.
- Jan 01, 2021 06:33 PM IST
The RBI-DPI comprises five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.
- Dec 31, 2020 04:20 PM IST
In a note to the National Highways Authority of India (NHAI), the Union ministry has said the NHAI can obtain any regulatory requirement needed for 100 percent payment through FASTags latest by February 15, 2021.
- Dec 24, 2020 09:02 PM IST
The RBI wants tech startups to innovate in the space of offline payments, which can push digital transactions in areas where internet connectivity is weak or absent.
- Dec 22, 2020 04:55 PM IST
The new voice confirmation will help merchants during peak business hours with a voice message announcing the amount received from a customer, without having to check the customer’s phone screen or waiting for a SMS.
- Dec 18, 2020 04:41 PM IST
Google Pay users will now get an option to pay a PayU merchant with their debit cards, credit cards, or Google Pay UPI without physically sharing their card details if they are making repeated payments.
- Dec 16, 2020 03:21 PM IST
NPCI is trying to popularise contactless payments beyond transit use cases among merchants as well. Now, with the limit being extended to Rs 5,000, contactless payments can be used for a wider range of services.
- Dec 16, 2020 12:29 PM IST
After being stuck in regulatory hurdles for more than two years, WhatsApp has finally gone live with its payments offering in India.
- Dec 15, 2020 06:34 PM IST
Paytm founder and CEO Vijay Shekhar Sharma said accelerating internet adoption has increased the need for tech-enabled tools in developing countries, which Indian market is well-placed to serve.
- Dec 15, 2020 03:26 PM IST
DakPay services include domestic money transfers and utility bill payments.
- Dec 08, 2020 04:21 PM IST
Gates praised India for building ambitious platforms for universal identification and digital payments which include the world’s largest biometric database and a system for sending rupees between any bank or smartphone app.