Mobile Wallet

Mobile wallets offer a convenient and safe way to make payments digitally. As per RBI data, there were 596 million wallet transactions during December totalling Rs 21,700 crore in value.

Paying with your mobile wallet to get simpler with interoperable QR codes

RBI has prohibited Paytm, Google Pay and other payment firms from using proprietary QR codes. With interoperable QR codes, you can now use one QR code to make payments across merchants

Buy, sell or wind up – small digital payments firms face harsh reality

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.

Wallet Wars | It may be too early to rejoice in PhonePe’s valuation

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.

Comment | Repeated extensions of KYC deadline for e-wallets is no solution

The cost of physical KYC is very high and cumbersome. The government must permit e-wallets to access CKYCR.

Mobile wallet transactions increased 40 times in India in five years: Gulshan Rai

Rai said as per projections, digital economy will be 60 percent of the global GDP by 2030.

Macro@Moneycontrol | RBI allows e-wallet interoperability

Tune in to find out more about the macro implications of the move to allow e-wallet interoperability, and how life will change for stakeholders such as consumers and digital payment companies.

Users opting mobile payments exceed 520 million in China

According to the People's Bank of China, Chinese banks dealt with 8.6 billion payments from mobile services in the second quarter of this year, up 40.5 per cent from a year ago.

Bajaj Finance to pick up 11% stake in Mobikwik for Rs 225 cr

In a BSE filing, Bajaj Finance said it has entered into a subscription agreement with One MobiKwik Systems.

Amazon looks to push e-wallet transactions, unveils multiple offers

The promotional offer will be valid on returned items too and will be applicable beyond Amazon's own platforms too.

'Withdraw plan to charge on transactions on SBI mobile wallet'

Last week, SBI had said it would introduce a new facility through which every withdrawal of cash through ATMs using the bank's mobile wallet would attract a charge of Rs 25. BEFI Tamil Nadu unit General Secretary C P Krishnan said the association wanted SBI to withdraw the plan "forthwith".

Paytm rolls out Food Wallet, redeemable at offices, online merchants

Mobile wallet company Paytm has now rolled out a ‘food wallet’ on its app to tap the Rs 25,000 crore market. This will compete with traditional meal vouchers and also provide tax-saving opportunities to corporates.

AltBalaji and MobiKwik announce payment wallet integration

AltBalaji, the digital platform of Balalji Telefilms, today said it has tied-up with mobile wallet major MobiKwik for payment wallet integration.

MobiKwik urges PM for passage of women's reservation bill

The Women's Reservation Bill, that sought to reserve 33 per cent seats in Lok Sabha and state assemblies for women, had been passed by the Rajya Sabha in 2010 but could not be taken up for discussion in the lower house. The bill lapsed after the dissolution of the 15th Lok Sabha in 2014.

China third-party mobile payments climbs to USD 5.5 trillion

Driven by the explosive growth of Internet finance, China is now witnessing a boom on mobile payment market which touched a whopping USD 5.5 trillion last year.

Govt mulls insurance guidelines for mobile wallet transactions

Also in the offing is notification of forensics labs as registered 'examiners' for electronic evidence. Today, the IT Ministry is the only registered examiner for cybercrime related evidence.

Dena Bank favours tax benefits on digital payments in Budget

Asked about his wishlist for the Budget - to be unveiled on February 1 - Ashwani Kumar, Chairman and Managing Director, Dena Bank told PTI, "We want more tax concessions for customers and shopkeepers who go digital. The incentives can come in the form of income tax, service tax".

Demonetisation: Special fund to aid spread of digital payment infrastructure

Govt mulling the creation of a special corpus to fund PoS-based and digital payment systems in rural and remote areas; announcement in Budget 2017-18 likely

Govt trains over 400 street vendors to accept digital payments

The government's demonetisation drive has hit almost every sector. But to street vendors, this has been a particular kick in the gut. To mitigate this hit, the government embarked on a drive to train over 400 street vendors from across the country on the use of debit cards and mobile wallets to accept payments.

Amul, MobiKwik tie up to offer digital payment at Amul outlets

Mobile wallet company MobiKwik, today announced its tie up with Amul to help customers pay digitally at all their retail outlets.

Sebi may enable instant credit of liquid MF redemption money

The Securities and Exchange Board of India is working on new rules to enable instant credit of funds to investors‘ bank accounts on redemption of a liquid mutual fund, an article in the Mint says.

Freecharge partners with ICICI merchants in 700 cities

"The partnership will help us expand our footprint and enable merchants and consumers from Tier I & II cities to be part of the digital payments ecosystems," Govind Rajan, Chief Executive Officer, FreeCharge said in a statement.

Demonetisation: Govt not stopping cash; it is a nudge to go digital, says Prasad

The government‘s demonetisation drive is a three-pronged attempt to target black money, stifle terror funding and pushing citizens to go digital, said Ravi Shankar Prasad, Minister of Information Technology. “We are not stopping cash, demonetisation is only a nudge to go digital,” he said.

FreeCharge ties up with Mumbai Police for traffic fine payment

The move assumes importance in the wake of the government's decision to cancel old Rs 500 and 1,000 notes and the scarcity of physical cash that has followed.

Now Mumbaikars can pay traffic challans using FreeCharge

Traffic police personnel will issue an e-challan against the violator's vehicle registration number. Motorists can then pay using FreeCharge by entering their challan or vehicle number on Mumbai Traffic Police's website.