New entity is likely to get a top-up of $200 million from a Chinese investor
It hopes to leverage the growing number of mobile transactions
Snapdeal said on Wednesday it bought online mobile recharge firm Freecharge for an undisclosed amount.
Snapdeal also in talks with China's Alibaba and Taiwan's Foxconn to raise $1 bn.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
Yes Bank customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier. The RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3. However, the government in a notification on Saturday said the moratorium will be lifted by 18:00 hrs on March 18.
According to sources, employees from marketing, ad-tech, category, digital marketing, engineering team, catalogues, have all been asked to leave.
Vijay Shekhar Sharma, head of Paytm, says they'd achieve their 500-million user target by 2018, two years before the earlier aim.
Safety standards are thrown to the wind as government urges consumers to use mobile wallets at petrol pumps, Shine Jacob & Karan Choudhury/Business Standard report from New Delhi.
It is all about hitting the ball high and timing it right.
With a surge in users and transactions in two weeks, payment wallets step up cashbacks to get more users online.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
India has the highest proportion of CODs at 60% of total orders, compared to 50% in China, 28% in Indonesia, and 24% in Brazil
Snapdeal's new customer acquisition has doubled.
A start-up that just focuses on discounting for growth without a balancing effort towards product will soon find itself riding a tiger that's impossible to get off from.
Prosus-backed fintech firm PayU is set to acquire India's earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India's digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa. The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV).
The draft rules underline security parameters that digital wallet companies, such as Paytm, FreeCharge and Mobikwik, will have to follow
Accuses foreign-funded competition of 'capital dumping' to capture market, bats for stronger regulations for sector.
For any amount you recharge, Freecharge.in offers free coupons from retailers.
Infibeam appointed Kothari as president, strategy, corporate development, international operations, and investor relations.
In 2015, e-commerce contributed significantly to the growth in television advertising revenues.
According to sources, Chambers has led the $5-million funding round via his investment firm JC2 Ventures
One of the leading contenders in the Indian e-commerce space, Snapdeal has seen its fortunes falling amid strong competition from Amazon and Flipkart.
Letsgomo Labs has a 76-member team.
The average 3-year revenue growth of 50 fastest-growing tech firms slips to 365% in 2015.
PE players seal over $737 mn deals in February: Thornton.
More than 50 startups have graduated from Startup Village's Physical and Virtual Incubation Programme and eight startups from Digital Incubation
Vikramank Singh looks back at the year gone by!
It will take years for faster Internet to reach this population and those who aren't even connected so far
The term sheet with Flipkart could be signed within this week and the due diligence for the deal would commence immediately thereafter.
Ratan Tata invested about $299,000 during the first six months of 2016.
India turns talent backyard for Southeast Asian taxi apps to fight Uber.
This is the second instance of mainstream banks blocking services to new-age digital payments companies.
Last year, the top 10 investors in the country had put their money in 209 deals, according to the data compiled by VCCEdge based on deals disclosed. This year they put money in only 60 deals.
Agriculture, social services, education, defence and so on will be brought into the digital fold and every gram panchayat will be connected to the internet.
While most others have not been able to replicate the WeChat model successfully, experts expect Jio to be able to score on its 300 million plus new mobile phone users.
Few angels have seen exits; till that happens, they won't be rushing to invest again.
Flipkart eyes another $500 mn from eBay, which seeks to merge India ops with it and exit business
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
The police have almost no way of tracking the $200 billion plus money flowing online during this World Cup.
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