Indian payment services provider Citrus Pay has raised approximately US$25m from a consortium of new and existing investors... More
India
Ultracash launches sound-based mobile payment service in Bangalore
Bangalore-based Ultracash Technology Labs has launched a mobile payment service that lets consumers make payments at close to 500 merchants in the city using a high frequency sound-based technology... More
ICICI Bank launches mVisa mobile payments
ICICI Bank has become the first Indian bank to launch a mobile payment service based on Visa’s mVisa solution, which was unveiled in August 2015... More
Alibaba and Ant Financial make “strategic investment” in India’s Paytm
Chinese e-commerce giant Alibaba and its affiliate Ant Financial are to make a “strategic investment” believed to be worth some US$680m in Indian mobile payment platform Paytm through an agreement with its parent company One97 Communications... More
Citrus Pay enables in-store mobile payments via gift cards
Indian payment services provider Citrus Pay has announced a partnership with gift card solutions provider Qwikcilver to enable its 17m users to make in-store mobile payments using a gift card or voucher generated in Qwikcilver’s Woohoo mobile gifting app... More
Indian mobile wallet market to reach US$6.6bn by 2020
India’s mobile wallet market will be worth US$6.6bn by 2020, research from TechSci Research reveals... More
Axis Bank launches mobile wallet that uses sound for in-store payments
India’s Axis Bank has launched Lime, a mobile wallet that combines banking, shopping and payment services and lets customers make in-store purchases using an encrypted audio signal generated by their device... More
Future Group to launch mobile wallet in India
Indian retail conglomerate Future Group is in the process of launching its own mobile wallet, CEO Kishore Biyani has revealed... More
India biometrics market to grow 35% by 2020
India’s biometrics market is projected to grow at a compound annual growth rate (CAGR) of over 35% from 2015 through 2020, according to TechSci Research... More
Uber ‘to launch mobile wallet in India’
Taxi service Uber is to introduce its own mobile payment wallet in India, Times of India reports... More
Oxigen Wallet loyalty program partnership
Indian mobile wallet provider Oxigen Wallet has partnered with loyalty program provider PayBack to allow customers to earn PayBack points and redeem them as cash, to make online and bill payments... More
Indian mobile payment provider ToneTag raises $1m
Indian mobile payment provider ToneTag, which enables contactless payments through mobile phones using sound waves or NFC technology, has raised US$1m from Reliance Capital... More
InMobi unveils Miip payment platform
Indian advertising platform InMobi has unveiled Miip, a platform that can be integrated into mobile apps to allow users to make payments through buy buttons on product ads... More
Ezetap raises $24m for mPOS expansion
Bangalore-based Ezetap has raised Rs150crores (US$23.5m) to expand its mPOS solution of configurable mobile app and card reader that plugs into a merchant’s mobile device... More
Indian banks to test mVisa mobile payments in Bangalore
India’s Axis Bank, HDFC Bank, ICICI Bank and State Bank of India (SBI) are to pilot a mobile payment service developed by Visa this summer that will let select customers make in-store, online and bill payments as well as send and receive money using their mobile devices. More
Walmart India signs up for MobiKwik payments
Walmart is the latest retailer to support in-store payments from mobile wallet service MobiKwik in 20 of its Best Price Modern Wholesale stores in India, following WHSmith and India’s largest retailer Big Bazaar... More
Ola Cabs to apply for mobile wallet licence
Indian mobile cab hailing service Ola Cabs is reportedly planning to apply for a mobile wallet licence from the Reserve Bank of India (RBI)... More
Three in four consumers interested in using alternatives to passwords online
One in six consumers find usernames and passwords “cumbersome” and 77% are interested in using alternatives to protect their security on the internet, research from Accenture reveals... More
LivQuick raises $1.6m for mobile wallet
Mumbai-based LivQuik, the company behind mobile payment service QuikWallet, has raised US$1.6m from existing investor Snow Leopard Ventures to scale its team, technology and merchant base... More
Reserve Bank of India asked to increase mobile wallet limit
One97 Communications, owner of mobile payment platform Paytm, has asked Reserve Bank of India (RBI) to increase the limit on money that can be kept in a mobile wallet to Rs 25,000 (US$393) from Rs 10,000 (US$157)... More