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  • Razorpay raises $160 mn, valuation trebles to $3 bn in six months: Watch interview with co-founder Harshil Mathur Apr 19, 2021 03:45 PM IST

    Razorpay raises $160 mn, valuation trebles to $3 bn in six months: Watch interview with co-founder Harshil Mathur

    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.

  • Despite uptick in digital payments, India continues to be a cash-based economy Apr 15, 2021 03:14 PM IST

    Despite uptick in digital payments, India continues to be a cash-based economy

    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.

  • Moneycontrol on Clubhouse: Future of Digital Payments in India Apr 03, 2021 05:08 PM IST

    Moneycontrol on Clubhouse: Future of Digital Payments in India

    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.

  • Digital payments will grow to 71.7% of all transactions by 2025: Report Mar 31, 2021 03:41 PM IST

    Digital payments will grow to 71.7% of all transactions by 2025: Report

    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.

  • Level 1, Level 2, Level 3: How NPCI plans to cap market share of apps like PhonePe and Google Pay Mar 26, 2021 04:21 PM IST

    Level 1, Level 2, Level 3: How NPCI plans to cap market share of apps like PhonePe and Google Pay

    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.

  • BPCL, ICICI Group and Blackstone-backed Fino Payments Bank kicks off IPO plans; first ever in niche segment Mar 05, 2021 08:01 PM IST

    BPCL, ICICI Group and Blackstone-backed Fino Payments Bank kicks off IPO plans; first ever in niche segment

    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.

  • NPCI ties up with SBI Payments to launch ‘RuPay SoftPoS’ solution Mar 05, 2021 05:04 PM IST

    NPCI ties up with SBI Payments to launch ‘RuPay SoftPoS’ solution

    NPCI claims that the new app would revolutionise the way micro and small merchants receive payments.

  • PhonePe & Paytm lock horns: Both claim market leadership Mar 02, 2021 07:09 PM IST

    PhonePe & Paytm lock horns: Both claim market leadership

    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.

  • Paytm-Ola-IndusInd Bank to apply for NUE to launch payments network: Report Feb 26, 2021 09:40 AM IST

    Paytm-Ola-IndusInd Bank to apply for NUE to launch payments network: Report

    The consortium will submit its proposal to the Reserve Bank of India on February 26

  • NPCI upgrading IT systems across platforms, anticipates 1 billion daily transactions: Report Feb 18, 2021 10:16 AM IST

    NPCI upgrading IT systems across platforms, anticipates 1 billion daily transactions: Report

    AePS, IMPS, NACH, and UPI have been identified for the IT systems upgrades. The process is aimed to be completed by March 2021.

  • PayPal to shut gateway and aggregator services in India, focus on cross-border business: Report Feb 05, 2021 08:51 AM IST

    PayPal to shut gateway and aggregator services in India, focus on cross-border business: Report

    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.

  • Small town India and freelancers will help Indian economy achieve the $5 trillion size: Report Jan 12, 2021 07:39 PM IST

    Small town India and freelancers will help Indian economy achieve the $5 trillion size: Report

    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.

  • Why business payment processors are better off than their consumer facing counterparts Jan 12, 2021 03:00 PM IST

    Why business payment processors are better off than their consumer facing counterparts

    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

  • Juspay appoints PwC, Verizon to audit its systems post breach Jan 07, 2021 08:11 PM IST

    Juspay appoints PwC, Verizon to audit its systems post breach

    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.

  • Phi Commerce raises $4 million from Singapore VC Beenext, Yatra Angel Network Jan 07, 2021 11:47 AM IST

    Phi Commerce raises $4 million from Singapore VC Beenext, Yatra Angel Network

    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”.

  • RBI launches Digital payments index to track transactions Jan 01, 2021 06:33 PM IST

    RBI launches Digital payments index to track transactions

    The RBI-DPI comprises five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.

  • Government extends deadline for FASTag toll collection till February 15 Dec 31, 2020 04:20 PM IST

    Government extends deadline for FASTag toll collection till February 15

    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.

  • Regulatory sandbox: RBI names four more startups selected in first cohort Dec 24, 2020 09:02 PM IST

    Regulatory sandbox: RBI names four more startups selected in first cohort

    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.

  • PhonePe launches new voice notification feature for Business app in 9 languages Dec 22, 2020 04:55 PM IST

    PhonePe launches new voice notification feature for Business app in 9 languages

    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.

  • PayU ties up with Google Pay to introduce tokenised payments flow for merchants Dec 18, 2020 04:41 PM IST

    PayU ties up with Google Pay to introduce tokenised payments flow for merchants

    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.

  • NPCI enables offline payments for RuPay Contactless cards Dec 16, 2020 03:21 PM IST

    NPCI enables offline payments for RuPay Contactless cards

    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.

  • WhatsApp Pay goes live in India with four banks as partners Dec 16, 2020 12:29 PM IST

    WhatsApp Pay goes live in India with four banks as partners

    After being stuck in regulatory hurdles for more than two years, WhatsApp has finally gone live with its payments offering in India.

  • Indian entrepreneurs have once-in-a-lifetime opportunity to shape future of technology globally: Paytm CEO Vijay Shekhar Sharma Dec 15, 2020 06:34 PM IST

    Indian entrepreneurs have once-in-a-lifetime opportunity to shape future of technology globally: Paytm CEO Vijay Shekhar Sharma

    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.

  • India Post Payments Bank's ‘DakPay’ app to boost financial inclusion, says Union Minister Ravi Shankar Prasad Dec 15, 2020 03:26 PM IST

    India Post Payments Bank's ‘DakPay’ app to boost financial inclusion, says Union Minister Ravi Shankar Prasad

    DakPay services include domestic money transfers and utility bill payments.

  • Bill Gates hails India's digital finance approach, calls it 'global model' Dec 08, 2020 04:21 PM IST

    Bill Gates hails India's digital finance approach, calls it 'global model'

    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.

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