India’s full service carrier Vistara, a joint-venture of Tata Sons and Singapore Airlines has inked Wirecard for enabling payment processing for all ticket bookings made by credit card via BSP (Billing and Settlement Plan). The deal will help Vistara process international bookings quickly with a robust backend solutions framework, while keeping pace with the latest…
Qwikcilver, a gift card specialist in India has teamed with TransferTo, a Cross-Border Mobile Payments Network to enable the Indian Diaspora, living outside of India, to send digital gift cards back home to their families. People remit money for a multitude of reasons – mainly to support family back home – and remittances currently represent…
India’s MoneyOnMobile has inked a Bill Collection Agreement with BSES Yamuna Power, to enable 1.6 million customers the ability to pay their electricity bills through any of MoneyOnMobile’s 330,000 retail outlets or through MoneyOnMobile’s mobile wallet app. BSES Yamuna Power supplies electricity in Central and East Delhi, the capital of India, covering an area of approximately 200…
Wirecard’s Star Global Currency Exchange received an upgrade of its license issued by Reserve Bank of India to Authorized Dealer in Foreign Exchange (Category II). The earlier license was a Full Fledged Money Changers (FFMC) Licensee with limited authority to deal only in buying and selling foreign currencies, traveller cheques and prepaid cards for travel…
RBL Bank Integrates MasterPass QR into OnGo Digital Wallet Masterpass Quick Response (QR) mobile payments solution has come to India. Masterpass QR enables mobile banking users to safely pay for face-to-face purchases using their smartphone or feature phone. Ratnakar Bank Limited (RBL Bank) is the first bank in India to integrate the Masterpass QR service…
The teleshopping market in India is forecast to exhibit a CAGR of 17.20% during 2016-2021, owing to wide reach of television broadcasting in India, increasing number of people viewing television, coupled with changing lifestyle and growing preference of the people towards more convenient ways of shopping. According to TechSci Research report, “India Teleshopping Market By…
Coinsecure, the Indian Bitcoin company inked a new partnership with OKLink to offer blockchain technology powered remittance services in India. The newly launched OKLink is part of OKCoin’s initiative to provide digital assets and blockchain based global transaction settlement system. With India being the largest inward remittance receiving country in the world, this partnership marks a huge…
A new report finds 67% of millennials in India purchased goods via their mobile device. For those who shop using their mobile device, they do so more frequently—and with lower transaction values—than non-millennials. ACI Worldwide inaugural Indian FinTech Commerce & Payment Study asked approximately 400 employees in the FinTech space about their shopping habits and payment preferences…
Only 4% of people in India have access to credit cards, so Fortumo’s mobile payment platform is rapidly expanding its direct carrier billing in the country. The expansion is possible under an agreement inked with mobile operator Reliance Communications (RCOM). With this development, all customers of RCOM will be able to make purchases for digital content and games…
India’s Accept Express startup says it has developed a first-of-its-kind solution where the approval rate on card transactions is 99.9%. The payment platform offers payment acceptance solutions including Card Payment Acceptance, Online Bank Payments, E-Commerce, POS and Mobile POS Solutions. Accept Express received its first step funding of $12 million from White & Brooks Private…
MobiKwik, one of the two major companies offering mobile wallet services in India, has picked up another investor. The company has raised close to $30 million in funding till now from Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments. GMO Internet Group company, GMO Payment Gateway made an undisclosed investment through GMO Global…
New research reveals young micro merchants in India between 35 and 45 are most likely to adopt electronic payment systems. According to the MasterCard Micro Merchant Market Sizing & Profiling Report, young merchants owning large and medium sized businesses, primarily in auto accessories, building fittings, medical, private cabs, and food & beverage sectors form the…