The central bank orders the private bank to temporarily stop launches of digital business generating activities as well as sourcing of new credit card customers.
Facebook’s WhatsApp Pay is the latest player to enter India’s payments space, which already has Alphabet’s Google Pay, Walmart’s PhonePe, Amazon Pay, and Alibaba-backed Paytm.
The value of transactions on India’s state-designed mobile payment system, Unified Payments Interface, has crossed ₹1 trillion in December. What does that mean for the world’s sixth largest economy?
Paypal, the global leader in payments, announced its India plans a year after demonetistation was announced. It doesn’t plan to subsidise payment charges and won’t diversify like rival Paytm.
