An increasing number of customers today are going online to meet their festive requirements with spending during Ramzan 2024 growing by 50 per cent as compared to last year’s Ramzan, according to Simpl Checkout Scan. These spends were almost 30 per cent higher than normal for a business month with categories such as food and beverages […]
The Open Network for Digital Commerce (ONDC), a government-backed initiative, has embarked on a pilot project to integrate street food vendors into its interoperable network, starting with Delhi and Lucknow. The initiative aims to accelerate the network’s expansion and promote digital inclusion among small-scale sellers. As per reports, the pilot project aims to onboard 500 […]
The Unified Payments Interface (UPI) service has been made available by ecommerce giant Flipkart for both online and offline payments made both inside and outside of its app. Flipkart, which says it has over 50 crore registered users and 14 lakh sellers on its marketplace, would be able to rely less on third-party UPI apps […]
Amid the ongoing controversy, the Confederation of All India Traders (CAIT) has issued a cautionary advisory to Indian traders to switch from Paytm to other payment apps in light of Reserve Bank of India (RBI) restrictions. Recently, RBI in the exercise of its powers under section 35A of the Banking Regulation Act, 1949, had directed […]
The Unified Payments Interface (UPI) has shattered records by processing over 100 billion transactions, as revealed by data from the National Payments Corporation of India (NPCI). Operating alongside other payment processing infrastructure, UPI witnessed 54 per cent year-on-year (YoY) growth in transaction volume and 42 per cent surge in transaction value for December 2023. The […]
About 94 per cent of Indian small businesses are also willing to invest more in online sales and marketing this year, according to a report by GoDaddy India. GoDaddy Data Observatory 2023 showed that Indian respondents are already using digital tools including intranet or internal social networks (74 per cent), shared drives for collaboration (72 […]
India’s leading payments and financial services company and pioneer of QR, Soundbox and mobile payments, Paytm has announced strong June quarter earnings driven by increase in merchants subscription revenues, merchant payment volumes and loan disbursals. In Q2FY24, the company’s revenue surged by 32 per cent YoY to Rs 2,519 crore and its EBITDA before ESOP […]
Paytm, India’s leading payments and financial services company and the pioneer of mobile and QR payments, has announced its business operating performance for July 2023. The company continues to strengthen its leadership in in-store payments with 82 Lakh devices deployed, a growth of 101 per cent YoY. The company has added 3.8 lakh devices in […]
Hitachi Payment Services on Thursday said that it has acquired the Cash Management Business of Writer Corporation. The company said that this acquisition will transform Hitachi Payments’ market standing by integrating the cash management business into its overall service offerings, positioning it as a one-stop payments and commerce solutions provider. It will enable Hitachi Payments […]
Digital payments in India have been crossing record transactions in the last few months. According to recent data from RBI, NPCI, and banks, digital transactions have jumped from 20.7 billion in FY 2017-18 to 88.4 billion in FY 2021-22. March 2023 saw UPI transactions clocking the highest-ever number of transactions at 8.7 billion, making it […]
