The Reserve Bank of India (RBI) plans to launch a technology platform designed to enable frictionless credit, especially for small- to medium-sized businesses (SMBs). The RBI began piloting the platform — which it plans to name the “Unified Lending Interface (ULI)” — in 2023 and...
Money transfer firm Wise is reportedly hoping to tap India’s $32 billion remittance market. To that end, Wise plans to begin signing up new customers in the world’s most populous nation after pausing that side of its business in the country, company officials told Bloomberg News Monday (Aug. 12)....
The Reserve Bank of India’s (RBI’s) offer to allow payment firms to enable eRupee transactions via their platforms has reportedly been taken up by five such firms. Google Pay, Walmart-backed PhonePe, Amazon Pay, Cred and Mobikwik have applied to join the Indian central bank’s digital currency pilot, Reuters reported Monday (Aug. 5),...
According to a new report from the Reserve Bank of India (RBI), digital payments fraud in the country grew 14.57 billion rupees ($175 million) in the year ended March 2024 from a year ago. The rise in fraud comes as India increasingly embraces digital payments...
January 28, 2019
Barring any reprieve, Feb. 1 marks a sea change for India’s eCommerce sector. New rules may hobble giants like Amazon and Flipkart from offering discounts or investing in nascent marketplaces. Here’s why economic nationalism may trigger ripple effects no one will want.
July 13, 2017
Over the last 18 months, India has moved full-speed ahead from a nearly entirely cash-based society to one with ambitions of being totally cashless. The most public — and most famous...
August 28, 2024
Paytm won approval from India’s finance ministry to invest in its payment services operation. The company announced the approval Wednesday (Aug. 28) in a disclosure posted to its website. Paytm has faced scrutiny this year after being ordered to close its payments bank in January. Paytm said it will now apply with the finance ministry […]
August 26, 2024
The Reserve Bank of India (RBI) plans to launch a technology platform designed to enable frictionless credit, especially for small- to medium-sized businesses (SMBs). The RBI began piloting the platform...
August 12, 2024
Money transfer firm Wise is reportedly hoping to tap India’s $32 billion remittance market. To that end, Wise plans to begin signing up new customers in the world’s most populous nation after pausing that...
August 05, 2024
The Reserve Bank of India’s (RBI’s) offer to allow payment firms to enable eRupee transactions via their platforms has reportedly been taken up by five such firms. Google Pay, Walmart-backed PhonePe, Amazon Pay, Cred and Mobikwik...
