MoneyonMobile Lands a Huge Electricity Bill Payments Contract in India

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…

RBI Upgrades Star Global’s FFMC License to Add 17 New Money Services

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 its OnGo Digital Wallet

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…

Coinsecure and OKLink Ink a Deal

Coinsecure and OKLink Ink a Deal

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…

India Millennials Take to Purchases via Mobile

India Millennials Take to Purchases via Mobile

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…

India’s Accept Express Payment Gateway Best X-Border

India’s Accept Express Payment Gateway Best X-Border

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…

India’s MobiKwik Drawing More Investor Interest

India’s MobiKwik Drawing More Investor Interest

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…