Payment services to redefine banking system
The future of payments is digital, and it will modernise India’s banking system. But the driving force that will catalyse the development of payment infrastructure is its adoption by merchants.
digital payments
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‘Digital is the new reality for life insurance’
The MD & CEO of Bajaj Allianz Life Insurance Company says the industry saw new business fall 32% in March as a result of Covid-19.
China’s cashless challenge to the West
The imperative to develop an answer to Alipay and WeChat Pay goes beyond national pride; the growth of a digital, cashless payment alternative has the potential to supplant national currencies.
After Japan, Paytm eyes developed markets
Founder and CEO Vijay Shekhar Sharma says Paytm’s technologies are not just for emerging markets, but for developed markets, too. However, India remains the focus.
PayU buys PaySense at a valuation of $185 million
Nexus Venture Partners-backed PaySense will be merged with PayU’s consumer lending business LazyPay.
Paytm Mall: Course correction
Paytm Mall, recovering from the cashback-cash burn syndrome, is hoping its hyperlocal plan will help it carve a niche in India’s e-commerce market.
‘Financial institutions will buy payment startups’
The report by fintech consulting firm The Digital Fifth also says that unified payments interface will continue to scale and remain the default payment gateway for India.
HDFC Bank’s digital outage continues
Customers face disruption in digital banking services. The bank tweeted that it is fixing the technical glitch.
‘We leverage sound energy for digital payments’
The startup, backed by Amazon and Mastercard, says it uses sound waves to enable contactless digital payments with or without the Internet.
Will banks seize the $32-bn payments opportunity?
Banks that adopt innovative business models, use the latest technology, and focus on providing value-added services stand a chance, says a survey by Accenture.
