According to re/code, the Indian-based e-commerce company has secured a half a billion dollar investment from investors such as Alibaba, the Chinese e-commerce company, and Foxconn, the Taiwanese manufacturer of Apple’s iPhones.

Mark Karpelès, founder and former head of collapsed bitcoin exchange Mt Gox, has been arrested over the disappearance of digital currency worth nearly $390 million.

Backbase, a multi-platform digital banking firm, has partnered with OTP Bank to create Touch Bank, a new digital and mobile-only bank in Russia.

Payleven, the mobile payments company, has teamed up with Visa to introduce the payleven Visa prepaid card to the 40 per cent of Brazil’s population who do not have a bank account.

Mercury Payments Systems, a payments technology provider for small businesses, and Datacap Systems, an integrated payments middleware provider, have partnered up to complete a certified EMV-capable solution for ISVs and SMEs.

The number of mobile banking users globally is forecast to double to 1.8 billion, over 25 per cent of the world’s population, in the next four years, according to research by KPMG using primary survey data supplied by UBS Evidence Lab.