Svatantra is currently funded by 9 financial institutions including public and private sector banks and NBFCs.
Through the investment, Zeta plans to reach out to the employees that ZingHR serves through its corporate clients.
Meal voucher companies are scouting for terminals to accept their vouchers digitally.
Similar technologies have been adopted by apps such as Truecaller, which has worked with ICICI Bank to implement UPI based payments.
In the statement, the bank said that the objective of the sale was disinvestment and it had earned Rs 57.4 crore from the company in the financial year 2016.
The transaction has a mix of both primary and secondary components, with the fund giving a complete exit to Axis Bank, an early investor in Mswipe.
While 29% of the 1002 urban consumers surveyed said that they do it primarily to improve it, 28% checked to prepare for a new credit card or apply for new loans.
"Customers will use our loan money to earn something, we mostly do not do consumption loans."
Paytm has sold around 100 kg of digital gold through its wallet application since its launch on Akshay Tritiya this year.
By offering an integrated structure of collection, compilation and computing for AFC system, the company aims to provide an efficient and hassle-free experience to the commuter.
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