Tagged: india

January 24, 2020 @ 12:36 pm By Omar Faridi  |  

The rapidly evolving digital banking sector has been receiving a significant amount of venture capital investments. India-headquartered neobank Nupay recently acquired an undisclosed amount of capital from several investors led by integrated incubator and accelerator platform, Venture Catalysts. Navin Puri, ex-country head of Branch Banking… Read More

January 24, 2020 @ 9:20 am By Samantha Hurst  |  

Pine Labs, an India-based merchant commerce platform, has received a significant investment from multinational financial services giant Mastercard. According to Pine Labs and Mastercard, the investment is part of a partnership to continue the rapid growth of convenient electronic payment options for consumers across the… Read More

January 23, 2020 @ 9:37 pm By Omar Faridi  |  

Leading multinational payments firm Western Union (NYSE: WU) has teamed up with established India-based Airtel Payments Bank, in order to process remittance services. The partnership will allow Airtel Payments Bank clients to direct Western Union transactions into their individual bank accounts via the banking section… Read More

January 22, 2020 @ 5:43 pm By Omar Faridi  |  

Bhavik Vasa, an experienced Fintech entrepreneur and former CBO of the first online wallet ItzCash in India, has introduced a new financial technology project, called GetVantage, which is a revenue-based financing (RBF) platform for the e-commerce industry. GetVantage has acquired capital from several early-stage investment… Read More

January 22, 2020 @ 7:34 am By Omar Faridi  |  

Bengaluru-headquartered Razorpay, a digital bank startup, has introduced its Instant Refunds product, which aims to enhance its clients’ online payments experience. The newly-launched feature activates refunds and credits the user’s source account across several different payment methods including credit cards, net banking and UPI within… Read More

January 21, 2020 @ 9:01 pm By Omar Faridi  |  

Although the overall progress on reducing poverty has been steady during the past few decades, about half or 50% of the global population still has to live on less than $6 per day. Catalyst Fund is a newly established VC fund with a goal to… Read More

January 21, 2020 @ 3:22 pm By Omar Faridi  |  

Kristal.AI, a Singapore-headquartered digital wealth management firm, has secured $6 million in capital via a Series A round, which was led by Chiratae Ventures (previously known as IDG Ventures). The Desai Family Office and several others including high-net-worth-individuals (HNWIs) also took part in the round…. Read More

January 21, 2020 @ 12:09 pm By Omar Faridi  |  

UK-headquartered FTMarkets, a foreign exchange established in 2005, recently introduced its trading platform in Vietnam, allowing the residents of the Asian nation to download applications and perform foreign exchange transactions. FTMarkets provides investors MT4 and APP platforms for conducting trades and it doesn’t charge clients… Read More

January 21, 2020 @ 7:35 am By Samantha Hurst  |  

India-based banking group Icici Bank announced on the launch of its Cardless Cash Withdrawal feature from ATMs. The bank reported this service enables customers to withdraw cash from more than 15,000 ATMs of the bank by simply raising a request on iMobile, Icici Bank’s mobile… Read More

January 15, 2020 @ 10:46 pm By Omar Faridi  |  

Amazon Pay in India has received a capital injection of INR 13.5 billion (appr. $19.3 million) from its Singapore and Mauritius-headquartered parent entities, according to a filing with the registrar of companies (RoC). As noted in the financial documents available on business intelligence and information… Read More

January 13, 2020 @ 2:41 pm By Samantha Hurst  |  

Digital money transfer service MoneyGram (NASDAQ: MGI) announced on Monday it has formed a new partnership with  EbixCash, an international supplier of on-demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, to bring enhanced services to millions of consumers across India…. Read More

January 13, 2020 @ 7:57 am By Omar Faridi  |  

Two Indian co-founders of Google Pay are reportedly preparing to launch a neo-banking platform in the Asian country and they have managed to acquire financial backing from three established venture capital funds. Sujith Narayanan, an experienced senior management professional specializing in the payments industry, who… Read More

January 11, 2020 @ 12:04 pm By Omar Faridi  |  

Indian banking institutions and Fintech firms have reportedly been given the green light to use video calls, in order to carry out know-your-customer (KYC) compliance checks, after a recent ruling by the nation’s central bank. The updated rules and guidelines will allow regulated entities to… Read More

January 9, 2020 @ 12:06 am By Omar Faridi  |  

The Indian government recently confirmed that online transactions performed using RuPay credit cards or UPI QR codes won’t face the Merchant Discount Rate (MDR). Now, the nation’s leading Fintech firm Paytm has introduced a consolidated QR payment for local retailers. The “All-in-One” QR will allow… Read More

December 29, 2019 @ 6:24 pm By Omar Faridi  |  

India-based Vakilsearch, a legal, tax and compliance firm, has again launched the Startup Gear campaign. The campaign is conducted twice each year in order to assist emerging businesses in adhering to regulatory requirements, and to help startups with company registration procedures, getting assistance in drafting… Read More

December 28, 2019 @ 10:16 am By Omar Faridi  |  

India’s central bank, the Reserve Bank of India (RBI), is reportedly looking into the possibility of providing non-bank entities, including local Fintech firms and insurance providers, direct access to handling RTGS (real-time gross settlement) and NEFT (national electronic funds transfer) transactions – which would be… Read More

December 28, 2019 @ 10:01 am By Omar Faridi  |  

India-headquartered Aye Finance has acquired INR 1 billion (over $14 million) in debt funding from BlueOrchard. Aye Finance’s management noted that it will use the capital raised to further expand its line of products and services (in India), which mainly include its small to medium-sized… Read More

December 26, 2019 @ 4:08 pm By Omar Faridi  |  

India-headquartered Finly, a Fintech firm that automates accounts payable for small and medium-sized enterprises (SMEs), has acquired capital via an investment round from Social Capital and AngelList India. Other investors that took part in Finly’s latest round include Gemba Capital, Omphalos Ventures, and 91springboard through… Read More

December 26, 2019 @ 9:18 am By Omar Faridi  |  

The United States is reportedly expected to lose its top rank as the largest cashless country and society in the world to nascent Asian markets by next year. Cashless transactions in the US are projected to increase by 4.7% to reach $184 billion by 2020,… Read More

December 24, 2019 @ 8:26 am By Omar Faridi  |  

Quantiphi, a US and India-headquartered applied artificial intelligence (AI) and Big Data analytics services firm, has raised $20 million via a Series A round from Multiples Alternate Asset Management. Quantiphi offers applied AI and Big Data solutions to Fortune 500 companies across several major sectors… Read More