Indian mobile wallet MobiKwik is to invest Rs 3bn (US$45m) to triple its user base and raise the total volume of transactions on its platform to $10bn in 2017, The Times of India reports... More
India
Mahindra Comviva launches biometric payments solution for rural Indian merchants
PARTNER NEWS: Mobile financial solutions firm Mahindra Comviva has launched PayPlus Aadhaar Pay, a merchant payment acceptance solution designed for rural India that will enable merchants to accept in-store payments through Aadhaar numbers and biometric-based authentication... More
NPCI, Mastercard and Visa unveil standardised QR code mobile payments for India
Indian consumers can now make QR code-based mobile payments using BharatQR, a “low cost, interoperable mobile acceptance solution” backed by the Indian government and developed by Mastercard, Visa and National Payments Corporation of India (NPCI)... More
Magazine focuses on Indian demonetisation and mobile money
PARTNER NEWS: A 36-page magazine featuring articles about the post-demonetisation era in India and the best practices for enhancing the customer experience of using mobile money is now available to download from the NFC World Knowledge Centre... More
Paytm expects up to 30% fall in offline customers
Indian mobile wallet Paytm “expects to lose 20-30%” of customers making offline payments using QR codes, OTP or mobile-to-mobile transfers when the Reserve Bank of India removes cash withdrawal limits on March 13, The Financial Express reports... More
What’s New in Payments: Leading international innovators explain the latest payments trends and technologies in free special report
Senior executives from Starbucks, Pizza Hut, Barclaycard, Swatch and CaixaBank are among 12 leading payments innovators who have contributed to What’s New in Payments, a 104-page special report that is now available to download free of charge from the NFC World Knowledge Centre... More
More than 150,000 Kenyan merchants to get mobile payments with Masterpass QR
More than 150,000 micro, small and medium enterprises (MSMEs) in Kenya will be able to accept in-store mobile payments using QR code technology in 2017, using Mastercard’s Masterpass QR platform... More
India to equip half a million ration shops for Aadhaar payments
All 558,000 ration shops across India will be enabled to accept Aadhaar-based payments by June 30 this year, The Times of India reports, with all those in Gujarat, Andhra Pradesh and Rajasthan states already Aadhar-enabled... More
India to ‘skip card era’ for mobile payments
Mobile and digital payments will overtake physical card payments as the predominant non-cash payment mode in India this year, Deloitte India predicts... More
Paytm targets 10m Indian mobile payments merchants
Indian mobile wallet provider Paytm wants to increase the number of stores where its QR code-based service is available from 3.5m to 10m... More
Indian mobile wallets seek common QR code
Indian mobile wallet providers have approached the National Payments Corporation of India (NPCI) to identify how to develop a common QR code for NPCI’s Unified Payment Interface (UPI) platform... More
Samsung Pay to get Amex support for India launch?
Samsung is partnering with American Express for the launch of Samsung Pay in India, expected in the first half of 2017, according to a source quoted by Mashable... More
Indian government unveils sweeping proposals to reduce the use of cash
The Government of India has introduced a series of incentives designed to encourage consumers and businesses to adopt digital and mobile payments and significantly reduce the use of cash in the economy — including plans to encourage banks to introduce one million point-of-sale terminals by March 2017, rising to two million by September... More
India Budget: New measures to promote mobile payments
The Indian government has unveiled new measures to promote a digital economy during its 2017 Budget speech, including “the imminent launch of Aadhaar Pay, a merchant version of the Aadhaar-enabled payment system”, The Times of India reports... More
Samsung Pay preps for Indian debut
Samsung Pay is preparing to launch in India... More
Indian banks sign up for Aadhaar Pay
More than 14 banks have signed up to support Aadhaar Pay, a service set to be unveiled by the Government of India that will enable consumers to receive and make payments using biometrics... More
One fifth of global consumers have made an in-store mobile payment as China leads the way
Nearly one fifth of global consumers (18%) have made an in-store mobile payment in the past six months, representing an increase of 10% from the same period in 2014, research released by trade body Mobile Ecosystem Forum (MEF) reveals. Chinese consumers lead the way, with 38% of them having paid with their phone at the point of sale — nearly double the global average. More
Indians to get mobile wallet insurance
Indian mobile wallet providers may soon be required to insure their customers’ money... More
Indian bank customers to open accounts with eye scans
Customers of DCB Bank in India will be able to carry out transactions such as opening a bank account by having their eyes scanned and verified against the country’s Aadhaar biometric ID database... More
India to rank states on digital transactions
Niti Aayog, an Indian government policy think tank, is producing an index to rank Indian states based on the number of digital transactions made, according to Economic Times... More