The CBDCs can help in reducing operational costs in physical cash management, foster financial inclusion, and bring further innovation in the payments system without risks
The digital wallet didn't even last a year but Meta says it will introduce new products such as digital collectibles
"UPI is operational now, and we are monitoring system closely," the National Payments Corporation of India (NPCI) said.
Money transfer facilities such as NEFT and RTGS have also been extended to non-bank payment system operators such as Paytm, PhonePe and others
The payments startup is targeting to file for the draft IPO prospectus by May 2021 that may valve the firm at more than $1 billion. It is willing to hold a pre-IPO funding round, which may give it a valuation of about $700 million, a Bloomberg report has said.
Chief Executive Officer Dara Khosrowshahi said in the email that Uber will "deprioritize" several of its finance-related projects, which included credit cards, a digital wallet and instant payments for drivers, the report on Thursday added.
WhatsApp’s acceptance and popularity among Indians is a key advantage for its payment offering Whatsapp Pay
One of the scammers, who identified himself as Deepak Mishra, claimed to be a staff of the restaurant, and way led the unsuspecting callers
Consolidation is unavoidable in India's payments space. Smaller firms like MobiKwik will struggle because India’s digital payments business is still dominated by cashback offers.
Walmart has truly unlocked value in PhonePe. But its success as a spin-off solely depends on how much money it manages to raise from investors, including Walmart, and for how long.
In its fourth investment in two years, Amazon has pumped in Rs 230 crore or $34 million into its Indian digital payments arm
It will offer features such as bank-to-bank, wallet-to-wallet money transfer and mobile recharge options right from the app itself.
"Idea Money has partnered with ShopClues to sell products through its Retailer Assisted Model (RAM) via local retailers. The partnership will help millions of on ground customers who may not have access to the internet, to make easy, convenient and secure purchase transactions," Idea Money and ShopClues said in a joint statement.
HDFC Bank Managing Director Aditya Puri on Friday criticised mobile wallet players as they operate on models that are not profitable.
While smartphone penetration is increasing in the country, there is a vast majority of mobile users who don't have access to Internet and still operate on feature phones. In this scenario, USSD based transactions become crucial in enabling digital payments.
After Airtel, Aditya Birla Idea Payments Bank is set to launch its services in the first half of 2017.
According to a report in DNA, e-wallet companies charge customers when they transfer money from their wallet to banks. The fee ranges from 1-3 percent. The charges are for non-KYC users. Wallet biggies are taking steps to waive them off.
Markets watchdog Sebi is looking to allow investors to buy mutual funds through digital wallets in the wake of the government's plan of boosting digital transactions.
Before treading the digital wallet path, a user should know why or for what purpose he is using the e-wallet and choose the right one.
"There are lot of people who are unable to transact online because they don't have a debit or credit card. Through this partnership, we are enabling Oxigen wallet to generate a virtual Visa pre-paid card whenever they want an online transaction," Oxigen Services Chairman and Managing Director Pramod Saxena told agency.
Visa Inc has no plans to implement a "digital wallet" fee at this point, Jim McCarthy, global head of product at the payment network, said on Thursday.
Smart IT is driving modifications in every step of our travel: From the way we plan it, to the way we go through it, and what we do after it. The pace of innovation is frenetic. Here‘s a quick sampler of changes in progress.
EBay Inc shares hit a new low for 2013 on Monday as concern mounted about the impact of a new "digital wallet" fee on the company's PayPal business.