Without merchant fees, banks say they can’t reimburse payment companies
At the centre of this demand is Delhi’s decision to remove the MDR for all digital transactions.
PhonePe in insurance with Bajaj Allianz
The digital payments player said on Thursday that more such partnerships with a range of financial ...
Nandan Nilekani-backed ShopX sees $1 billion GMV this fiscal
ShopX currently operates across 460 towns, processing about 20,000 transactions ...
Delhi takes 2nd spot in digital payments in 2019: Razorpay
Digital transactions in Delhi NCR grew by 235% from 2018 (Jan-Dec) to 2019 (Jan-Dec) and Financial Services, Food & Beverage and Transportation were the top 3 sectors which contributed a cumulative of 41% of Delhi’s online payments in 2019, said a Razorpay report.
Sachin Bansal bets Flipkart fortune on banking services
Bansal, through his microfinance firm Chaitanya India, has applied for a banking licence.
Central banks wake up to digital currency, create new framework with WEF
The framework is to help central banks evaluate, design and potential deploy digital currency.
Payment companies weigh ways to recoup MDR losses
These companies have urged the Centre to nudge banks to compensate “a minimum of 0.25% of the transaction amount for all the UPI and RuPay, Person to Merchant (P2M) transactions” for sustained service and ecosystem expansion in the absence of any clear revenue model.
MobiKwik eyes Rs 1,000 cr business from payment gateway
The business growth is attributed to the addition of new customers, scaling-up of existing customers and offering new products. In the payment gateway business unit, the company broke even in April 2019 and has been profitable every month since then.
Digital payment gains should be used to acquire merchants, says Nirmala Sitharaman
The prebudget meeting on Friday was necessitated after the government waived off MDR for merchants on digital payments made through RuPay debit cards and Unified Payments Interface (UPI) devices from January 2020.
Grab, Razer, AirAsia among firms exploring bids for Malaysia digital bank licence: Sources
Across Asia, regulators are opening up banking to new digital players, encouraged by a boom in mobile connectivity and the prospect of tech firms - not shackled to expensive physical branches - offering low-cost financial services.
Airtel, Western Union team up to launch real-time cross-border money movements in India, Africa
Western Union has teamed up with two Bharti Airtel arms -- Airtel Payments Bank and Airtel Africa Plc -- to launch real-time payments shortly into millions of Airtel Payments Bank accounts in India and mobile wallets across 14 countries in Africa. The service launch is expected in the course of calender 2020, Airtel said.
RBI extends recurring payments feature to UPI
The new functionality will allow UPI users to bypass additional factor authentication (AFA) every time a payment is made to a regular merchant by giving a onetime instruction to the UPI service provider. This facility was earlier available for card and wallet based payments
How Tier 2 and Tier 3 cities are set to lead the FinTech space in the next 5 years
FinTech Companies can achieve customer satisfaction and loyalty, by focusing on technologies such as blockchain.
Zero MDR good, but govt reimbursements will help payment cos: Vijay Shekhar Sharma
Zero percent MDR with reimbursement would be an ideal move, says Vijay Shekar Sharma.
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