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As the Indian government strives to become more financially inclusive, payment automation firm AccessPay has opened its first sales office in Kolkata to capitalise on the nation’s huge potential for growth.
Visa has scrapped its joint mobile payments venture with banking platform Monitise, as Indian telecommunication companies refused to share their network with the card giant.
The Reserve Bank of India (RBI) has given ‘‘in-principal’’ approval for the creation of 11 new payment banks, in an attempt to improve financial inclusion within the sector.
Uber will once again be accepting payments via credit card in India after legislation forced the taxi company to develop a mobile wallet to manage transactions.
Uber switched over all payments for its taxi-hailing service in India to a wallet-based service today, lambasting the RBI’s two-factor identification mandate for making it impossible for the company to accept credit card payments.
The proposed Bharat Bill Payment System (BPPS) will see interoperable and accessible bill payment services offered to customers via a network of agents to enable multiple payment modes and provide instant payment confirmations.
