Search Result for : Mobile Wallet

The Dollar Business Bureau E-commerce player Amazon India has got a licence for operating mobile wallet or pre-paid payment instrument (PPI) in India as it is trying to compete against its rivals in e-commerce space, Paytm and Snapdeal, more aggressively. The approval for mobile wallet will help the online marketplace to leverage the booming market for digital payments in the country. “We are pleased to receive our PPI license from the RBI (Reserve Bank of India). Our focus is providing customers a convenient and trusted cashless payments experience,” Amazon India said in a statement. In December last year, the US-based e-commerce major had launched the Pay Balance service for cashing in on the boom in digital payments space. Like the services of other mobile ...

The Dollar Business Bureau Vodafone on Tuesday launched a feature on its mobilewallet application to enable merchants to receive payments aimed to cash in on the cashless transaction atmosphere post the Government's demonetisation move. "M-Pesa Pay is a new feature which we're adding on to M-Pesa to enable ease of transactions between merchants and customers. M-Pesa Pay is really a merchants’ product," Vodafone managing director and chief executive Sunil Sood said to the reporters. Sood said the new special feature will be a substitute for the capital-intensive PoS machines. Merchants will be required to download the application only once, which will swiftly make their cashless transactions with customers. The country’s second largest telecom service provider’s mobile wallet M-Pesa has existed for several years now. ...

The Dollar Business Bureau Demonetisation has created a crisis in the country owing to the severe lack of cash in the hands of consumers. However, it has also given rise to new opportunities or new ways to survive with minimal cash. Rural areas in India are opting for the kaam chalao barter system whereas the urban smartphone-trendy populace is turning to plastic money and ‘e-wallets’. The rising use of e-wallets has come as a windfall for the Chinese billionaire Jack Ma, the founder of Alibaba Group and the 40% shareholder in PayTm. Paytm is one of the most popular e-wallets in India and has seen a burgeoning rise in recent times with over 6 lakh new users daily coming under its fold.  The ...

The Dollar Business Bureau  South Africa-based Blue Label is confident of a bright future in India even though it incurred a loss of over 26 million rand during the last fiscal. Despite registering a substantial loss in the previous financial year, the mobile wallet organisation added 5.4 million last fiscal, thereby taking its customer base to 22.6 million. The company is betting big on people without bank account in the domestic market. Blue Label Joint CEO Mark Levy said the company would manage to achieve its intended target through forging partnerships with companies such as the National Payments Corporation of India. Levy also informed that the company was planning to undertake further investment in India. "We're diversifying our product range. In order to do that, we ...

The Dollar Business Bureau Indian payment gateway company, Paytm will now enable Uber riders to pay in Indian currency for their rides while travelling in a foreign country, using their mobile wallet, by April-end. Paytm, backed by Chinese e-commerce giant Alibaba, will not levy any extra charge as conversion rate and the cab fares will be based on the prevailing foreign exchange rates. At present, Uber users in India need to pay through credit card for their rides taken aboard. Vijay Shekhar Sharma, CEO, Paytm said that the users, while travelling abroad, are now able to pay in Indian currency for their Uber rides. The process of integration is in the process and should be in place by this month-end.” “There are no hidden ...