Synup plans to utilise the fresh funds to strengthen its technology platform to cater to a larger chunk of merchants and expand to newer geographies.
Working on a strategy to promote cashless transactions, the government is said to be looking at ways to make digital payments cheaper than cash.
This deal paves the way for Ebix to capture the largest share of the foreign remittance business in India and is its third acquisition after Wall Street Finance and YouFirst Money Express.
RBI identifies peer-to-peer lending startups as a special category of non-banking fin companies
PayPal believes it will help in their move to encourage small sellers to sell goods and services globally and use PayPal as their payments platform.
In order to attract the best tech advancement from across the globe, Yes bank has forged partnerships with entities across US, UK,Europe, S.E Asia, Middle East including Bahrain and Israel among others.
The company counts Jacob Ballas Capital India and New Enterprise Associates among its investors.
"For savings accounts the limit is Rs 1 lakh and I believe that should be increased to Rs 10 lakh and that for loan accounts should be increased to Rs 6 lakh from Rs 60,000 currently."
This will help organisations bypass the requirement of wet signature for customers which can allow entities to deduct recurrent payments from their accounts.
There are always values in the two businesses and then there are values which are created after the merger through synergy.
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