Digital Payment Wallet

Payment app Ongo launches instant National Common Mobility Card 'Ongo Ride'

Ongo, the digital payments platform of AGS Transact Technologies has launched an instant National Common Mobility Card 'Ongo Ride' in association with the Chennai Metro Rail Limited here, the company said on Wednesday. Ongo, in a statement said, it has installed unique card dispensers with the UPI feature to facilitate these ready-to-use Ongo Ride cards at 12 CMRL metro stations in the city. Ongo Ride offers commuters a unified payment solution that integrates various modes of transportation including metros, buses and water ferries, as well as payments at parking lots and toll booths. "Metro railways are a cornerstone of urban mobility infrastructure, with India experiencing a daily metro ridership of approximately 10 million. At AGS Transact, we believe that National Common Mobility Cards (NCMC) have the potential to transform mobility across the nation," AGS Transact Technologies Ltd Chairman and Managing Director Ravi B Goyal said. "With our unique NCMC card dispensers, we are

Zomato allows customers to add cash delivery balance to their accounts

Zomato customers can now ask for the balance amount, if any, of cash on delivery orders to be added to their 'Zomato Money' account, and utilise it for placing future orders or dining out, CEO Deepinder Goyal said on Wednesday. He thanked Tata Group firm BigBasket for the inspiration behind the solution. "For cash on delivery orders, finding exact change can sometimes be inconvenient. Starting today, our customers can pay delivery partners in cash, and ask for the balance amount to be added instantly to their Zomato Money account. This balance can be used towards future delivery orders or dining out," Goyal said in a post on X, formerly Twitter. "Thank you @bigbasket_com for the inspiration for this solution, and our delivery partners (three of them are working as product managers with us) for insisting that we develop this asap," the Zomato CEO added. The online food delivery firm announced a significant increase in its consolidated net profit last week, reaching Rs 253 crore for

No evidence of systems being compromised: Cryptocurrency platform WazirX

A 'multisig' or multisignature wallet is a crypto wallet that requires two or more private keys to unlock and withdraw funds

India's retail digital payments set to double to $7 trn by 2030: Report

With digital adoption fast gaining currency, India is likely to see retail digital payments double to USD 7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fueling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. "Millennials and Gen X are leading in the adoption of all types of digital payment instruments," it said. "Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity. The research was based on an online survey of over 6,000 consumers along with more than 1,00

Samsung partners with Paytm to integrate more services to its wallet

Consumer electronics brand Samsung has partnered with Paytm parent One97 Communications Ltd to integrate travel and entertainment services to Samsung Wallet in India. Through the partnership, users of Samsung Galaxy smartphones can access Paytm's suite of services, including flight and bus bookings, movie ticket purchases, and event bookings, through the digital wallet. Galaxy users using the Paytm and Paytm Insider app can add their tickets directly to Samsung Wallet using 'Add to Samsung Wallet' functionality, a company statement said on Thursday. "With the Paytm app being the go-to destination for travel and event bookings for millions of Indians, its partnership with Samsung opens new avenues for users to access its services, in line with its efforts to drive further convenience," it said. Samsung Wallet users can avail of the new services by updating their app through the Galaxy Store. "These features allow Galaxy smartphone users to easily purchase bus and airline tickets, a

Google Wallet now available in India: How is it different from Google Pay?

Unlike the Google Pay, which is a payments platform, Google Wallet offers options to save digital documents, gift cards, tickets, and boarding passes for quick access

Google introduces private digital wallet for Android users in India

Google has introduced a private digital wallet for Android users in India, allowing users to securely store cards, tickets, passes, keys and IDs, an official said on Wednesday. Google Wallet can be downloaded from Play Store and would allow users to store their debit cards, credit cards, loyalty cards, and gift cards among other things. It is different from Google Pay app which helps manage money and finances. "Google Pay is not going anywhere. It will remain our primary payments app. Google Wallet is specifically tailored for non-payment use cases," said Ram Papatla, GM & India Engineering Lead, Android at Google.

Visa appoints Sujai Raina as India head; to oversee strategic initiatives

Digital payments platform Visa on Tuesday said it has appointed Sujai Raina as the country manager for India. Besides, Sandeep Ghosh will continue in his role as Group Country Manager for India and South Asia. He will oversee operations in India and other markets in the subcontinent, including Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives, Visa said in a statement. Raina will be responsible for the India business, leading and executing Visa's strategic initiatives for the market, partnering with clients and the payments ecosystem. In addition to his responsibilities as Country Manager, he will continue to lead business development for Visa in India, the statement said. Raina joined Visa in 2020 and previously served as Vice President and Head of Business Development, India. "India's growth trajectory, and the scale and sophistication of its payment systems, presents a significant opportunity for the continued growth of secure digital payments, driving cash displacement, ..

Mobile wallet payments in India to surpass Rs 531 trn in 2028: GlobalData

The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion in 2023

MobiKwik's Pocket UPI to allow wallet payments without linking to bank

This latest feature is aimed at creating more security and flexibility during transactions by mitigating risks associated with direct bank transfers

Paytm aftershocks: Competition ramps up sales force, strengthens leadership

The Reserve Bank of India last week ordered Paytm Payments Bank to bar most of its businesses, including deposits, by February 29

CEO Vijay Shekhar Sharma strives to save Paytm amid regulatory crisis

Sharma has put up a brave face even as nervous investors plundered $2 billion off Paytm's valuation after RBI ordered his banking arm to stop most of it operations from March 1

9.12 bn merchant transactions made via Paytm in second quarter of FY24

As many as 912 crore merchant transactions were made using Paytm in Q2FY24, parent One97 Communications said on Wednesday. Notably, the maximum number of payments have been done on Saturdays, making it the busiest day in the week for digital transactions, the company said releasing Paytm's 2023 Recap. When it comes to making most payments from midnight to 6 AM, Delhi emerged as Paytm's night owl, outshining cities like Hyderabad, Bengaluru, Chennai, and Goa, the release said. "A whopping 912 crore merchant payments were made using Paytm in Q2FY24," according to the release by One97 Communications Ltd (OCL) that owns the brand Paytm. Releasing Paytm's 2023 Recap, it said if all the Paytm QR codes used this year were stacked up, it would be taller than 40 Qutub Minars. Paytm said it continues to strengthen its leadership in in-store payments, with more than 92 lakh Paytm pioneered devices such as Soundbox, Card Machines, amongst others in the quarter ending September 2023.

Crypto wallet app Okto announces $5 mn treasury fund for Vauld users

Okto said it has introduced a 2 per cent bonus for users who choose to transfer their assets from Vauld to Okto

e-Rupi to wearables: How 50% of all transactions will be digital in 3 years

As of January 2022, there were 65 crore RuPay debit cards in circulation, accounting for 65% of the total debit cards issued

UPI continues to dominate digital payments thanks to wide use of QR codes

According to a Worldline India report on India's digital payments, in 2022, UPI processed over 74 billion transactions, an increase of 70 per cent YoY

UPI merchant transactions over Rs 2,000 to carry charge of 1.1% from Apr 1

National Payments Corporation of India, through a circular has recommended Prepaid Payment Instrument charges for UPI payments

PhonePe launches cross-border UPI payments service, says it's India's first

Users can activate UPI-linked bank account for the international service at the merchant location, or before that

BS BFSI Insight Summit 2022: Fireside chat with Paytm CEO Vijay Sharma

Sharma founded One97 Communications in 2000 and subsequently Paytm a decade later in 2010. In November 2021, Paytm went public, raising $2.5 billion at a valuation of $19 billion

UPI ecosystem needs to be sustainable to grow further: Google Pay

Hints at the need to make transactions on the platform chargeable