Investors worldwide got quite a scare from India’s Punjab National Bank (PNB) with the announced discovery of $1.8 billion in fraudulent activity at one of its branches, according to Reuters reports. The bank said in a statement that “a few select account holders” appear to have...
Since demonetization last year, Indian government and regulatory authorities have worked hard to push digital payment methods. But Indian citizens are not quite cooperating just yet and continue to prefer cash for most routine transactions. And that is a challenge — both for local digital payments...
While much ink has been given to the various U.S. companies trying to grab up a foothold in India, this week’s news seems to be flowing the other way across the sea. India’s largest payments player — Paytm — is eying the United States for...
Despite efforts at purging high denomination bank notes last year, new reports indicate 99 percent of the forbidden currencies were actually deposited or exchanged for new currency. This, it seems, is a major blow to the government’s efforts to bring an end to — or...
As Flipkart continues to gear up for what will likely be a protracted fight with Amazon.com, it seems to have gotten some good news. Rival marketplace Snapdeal won’t be a rival much longer — according to interior sources (two of them, according to Reuters), its...
i2c and Australia Post — a delivery, logistics, retail and eCommerce business — have announced plans to expand and modernize their digital payments offerings. Going forward, i2c’s Agile Processing platform will allow Australia Post to roll out advanced digital functionality and smoother, more streamlined payment experiences....
Indian digital payments firm Paytm has officially launched a niche payments bank as part of its drive to double its customer base to 500 million over the next three years. The payments bank operates 31 branches and 3,000 customer points in its first year, the...
Indian digital payments firm Paytm is reportedly in talks with Japan’s SoftBank in the hopes of securing $1.2 to $1.5 billion in cash. If the deal goes through, SoftBank would be one of the Paytm’s biggest shareholders. The funding would swell the Indian firm’s total...
Facebook-owned instant messaging service WhatsApp may be making a digital payments play in its largest global market — India. This would be the firm’s first such move anywhere on Earth. The vision, according to emerging reports, is that WhatsApp’s India offering would be somewhat similar...
