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    Walmart’s PhonePe zips past Google Pay in India as UPI tops 2B monthly transactions

    UPI, a four-year-old payments infrastructure built by India’s largest banks, surpassed 2 billion transactions last month, exactly a year after hitting the 1 billion monthly transactions milestone. Driving the transactions for UPI — which has become the most popular digital payments method in India thanks to its open architecture that allows interoperability among all participating payments apps — are Walmart’s  PhonePe,  Google Pay, Paytm,  and ...
  • 5

    Google delays mandating Play Store payments rule in India to April 2022

    Google is postponing the enforcement of its new Play Store billing rule in India to April 2022, days after more than 150 startups in the world’s second largest internet market forged an informal coalition to express concerns over the 30% charge the Android-maker plans to mandate on its store and started to explore an alternative marketplace for their apps. The company, which ...
  • 23

    Amazon now sells auto insurance in India

    Amazon’s  India business said on Thursday it has begun offering auto insurance to cover two and four-wheeler in the country, marking American giant’s first foray into this financial services category globally. The e-commerce giant said it had inked a deal with Mumbai-headquartered Acko General Insurance  to offer customers car and motor-bike insurance. Amazon is also an investor in Acko. Mahendra Nerurkar, chief executive and ...
  • 19

    Goldman Sachs leads $15M investment in Indian fintech startup ZestMoney

    One of America’s largest banks has just poured some money to help millions of Indians without a credit score secure loans and make purchases online for the first time in their lives. Bangalore-based ZestMoney announced today that it has raised $15 million from Goldman Sachs and existing investors Naspers Fintech, Quona Capital, and Omidyar Network. Lizzie Chapman, co-founder and chief executive of ZestMoney,  told TechNewsApi ...
  • 25

    India’s financial services firm Paytm raises $1B

    Paytm  said on Monday it has raised $1 billion in a new financing round as the Noida-headquartered firm, which once dominated the local mobile payments market, attempts to fight back giants Google, Walmart’s PhonePe, and Facebook. The company said the new financing round, dubbed Series G, was led by U.S. asset manager T. Rowe Price. Existing investors Ant Financials  (contributed $400 million), SoftBank ...