Razorpay claims that Turbo UPI can help businesses achieve a significant increase in the success rate of UPI payments by up to 10 percent.
A new version of the ONDC specs and network agreements is in the works to improve order tracking, provide more order fulfillment options, such as in-store pick-up for customers, and automate the grievance redressal process to a greater extent.
In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since then, the fintech unicorn has raised $550 million from General Atlantic, $100 million from Tiger Global Management, Ribbit Capital and TVS Capital, and $200 million from its largest shareholder--Walmart.
Sameer Nigam, the CEO of another IAMAI member company PhonePe has hit back at those opposing IAMAI's views on the matter, terming them as opportunistic.
Chapman explained how it was critical for fintech businesses to diversify and have different offerings amid rising competition in the space over the last two years. But she said that most of these companies realised that the core lending business is usually the most profitable.
As part of its revival efforts, ZestMoney will shut down its insurance business and affiliate programmes and will shift majority of its focus towards its core business of lending and EMI for consumer goods.
ZestMoney will be run by new leadership team of Mohit Chhajer, Mandar Satpute and Abhishek Sharma. The startup has 150 employees
Chapman was the Chief Executive Officer, Sharma served as the firm’s Chief Operating Officer and Anantharaman was the the Chief Technology Officer.
Co-founder and chief executive officer Anshoo Sharma says ONDC could be an inflection point for the hyperlocal commerce platform
Pincode had earlier said its fill rates were over 90 percent. Fill rates are an essential metric in online commerce as it denotes the percentage of products ordered which get delivered to the consumer.
While a reverse flip to India is a costly affair, Razorpay will be able to manage the same with its available funding, Sources told Moneycontrol. PhonePe's which recently domiciled to India from Singapore said that its investors had to cough up almost Rs 8,000 crore in taxes.
After integrating with the ONDC in March this year, Magicpin brought 22,000 restaurants on to the platform and said it would add 5,000 more over the coming three months
Users can instantly activate the UPI feature on their PhonePe app through a simple process that does not involve any KYC (know your customer) authentication and also create a UPI Lite account
Specific app for ONDC important to create a clear narrative in consumer's mind, says PhonePe executive
Commerce and Industry Minister Piyush Goyal said that ONDC should remove those who do not bring their main platform onto the network.
This app store is designed to offer services that are highly local in nature, driven by customer context that aims to assist developers with “high quality” user acquisition via multilingual solutions, as stated by an internal company document, reported TechCrunch.
Axis has already designed the platform and will be launching it as a part of its e-commerce segment called Grab Deals. The platform will initially have only groceries, but will soon expand to other segments.
With this fresh funding, the Walmart group firm has raised USD 750 million till date.
In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since then, the fintech unicorn has raised $350 million from General Atlantic, $100 million from Tiger Global Management, Ribbit Capital and TVS Capital, and $200 million from its largest shareholder--Walmart
Can Pincode — which had over 10,000 downloads on Google Play Store at the time of writing — match up to other apps? Let’s find out.
Founders and the top leadership team of ZestMoney held a Townhall on April 6 to inform the layoffs to employees. The company had about 450 employees and is planning to lay off across its workforce.
In 2019, PhonePe filed a suit against BharatPe in the Delhi High Court alleging that by using the trademark ‘BharatPe’, the company had infringed upon the registered trademark of‘PhonePe’.
ONDC's CEO T Koshy said that the discounts they are providing small incentives to the merchants to bring their catalog online as it's a cost for them. "We are trying to make good of those costs for six months to nine months, then by the time it would build up its own momentum," he said.
On the sidelines of the launch of Pincode, PhonePe co-founder Sameer Nigam talks about the e-commerce foray, plans with lending, why the acquisition of ZestMoney and more.
PhonePe’s digital lending forays come on the heels of its massive $1 billion fundraise that it announced earlier this year at a $12 billion valuation, which made it India’s most-valued fintech startup