The Reserve Bank of India (RBI) has now allowed National Common Mobility Cards (NCMC) to be issued with a limit of Rs 3,000 without any KYC. This regulatory change is expected to increase the adoption of NCMC and make it more attractive to users.
Digital payments player Paytm is awaiting the Reserve Bank of India’s (RBI) approval to start moving its settlements business from Paytm Payments Bank to other lenders. However, concerns about the KYC process could delay the process. Two senior bankers have stated that the RBI’s guidance is necessary before they can proceed. The RBI has not yet responded to inquiries regarding this matter.
Razorpay has announced the promotion of Rahul Kothari as its chief operating officer as the company aims to strengthen its presence in the Southeast Asia region. Kothari, who previously served as the chief business officer, will now work closely with founder and CEO Harshil Mathur to enhance customer service, improve technology infrastructure, and expand its product offerings. Razorpay recently obtained a licence to directly onboard merchants in Malaysia and launched its first international payment gateway service.
Discover whether digital payments are making our lives easier or becoming a paradise for fraudsters in this thought-provoking podcast episode.
Digital payments company Razorpay is exploring new product lines and focusing on its existing customer base as it faces a freeze on onboarding new customers due to a regulatory directive. The company launched Optimizer, a solution aimed at increasing payment success rates for businesses. Razorpay is doubling down on new offerings and its offline play to attract new customers. The company’s overall revenue share from new customers has significantly decreased, prompting a shift in their go-to-market strategy.
Technology has rapidly expanded the frontiers of human development since my birth in 1959. Explore the evolution of technology and its impact on lifestyle over the decades.
Gurugram-based digital payments and financial services company, Mobikwik, has posted its second consecutive quarterly profit and witnessed revenue growth. The company’s revenue for the quarter ended September 30, 2023, stood at Rs 208 crore, marking a 17% sequential increase. Total profit for the same period was Rs 5 crore. This growth is driven by the company’s sharper focus on its credit strategy, which now accounts for almost 60% of its revenue.
