The board of Paytm Payments Bank is independent and capable of addressing regulatory concerns, the chief executive officer of digital payments firm Paytm, formally known as One97 Communications Ltd, (OCL) said on Monday. I, personally or anyone from OCL, have no connection with the payments bank, Vijay Shekhar Sharma said at a webinar. There is an independent board taking care of everything and we have full faith in their capability. The Reserve Bank of India (RBI) in late January had...
The regulatory action on Paytm Payments Bank has brought the mobile wallet business of the entity, one of its most popular offerings, to a grinding halt. While it cannot add new customers as per the Reserve Bank of India diktat, transactions on the platform have fallen drastically over the last three months as consumers slowly move out of Paytm Payments Bank’s wallet ecosystem.According to data released by the RBI, Paytm Payments Bank reported 7.4 million fund transfer transactions in its...
Razorpay has launched its own Unified Payments Interface (UPI) infrastructure in partnership with Airtel Payments Bank. The new infrastructure, UPI Switch, boost success rates by 4% to 5%; handles up to 10,000 transactions per second at any given time; and enables five times faster access to UPI innovations for business, Razorpay said in a Wednesday (April 24) press release. “This […]
Paramount Global CEO Bob Bakish is stepping down and will be replaced by three executives, the company said today as it reported quarterly earnings that beat Wall Street expectations.
According to RazorPay, UPI Switch is able to solve a lot of the currently faced by currently existing UPI infrastructure, as well as added capacity such as being able to handle 10,000 transactions per second, and resolving disputes within 24 hours as opposed to the industry standard of 7 days.
Happy Monday! The country’s central bank has asked payment companies to flag high-value suspicious transactions amid the ongoing general elections. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Zomato hikes platform fee■ IT cos see employee wage cost rise■ Dhruva Space raises Rs 78 crore Track fishy transactions, RBI tells payment firms amid ongoing elections 109485600The Reserve Bank of India (RBI) has asked payment system operators (PSOs) to step up their checks on...
One97 communications, parent to Paytm, said it has “started transitioning ‘@paytm’ handles to the new Payment System Provider (PSP) banks.
Ola Cabs chief executive Hemant Bakshi is leaving just three months after the ride-hailing company publicly announced his appointment, with founder Bhavish Aggarwal once again taking over the reins at the firm, people in the know told ET.The company will also undertake a restructuring that will see at least a 10% reduction in headcount, impacting about 200 employees, the people said.Bakshi joined Ola Cabs in the middle of September 2023, but the company publicly announced it only in January this...
ADM CEO to resign Archer Daniels Midland has announced its chief financial officer will resign later this year. Vikram Luthar was put on administrative leave in January for accounting irregularities in ADM’s nutrition business while the company cooperated with an investigation. Luthar, who will step down Sept. 30, will reportedly receive over $743,000 as a cash performance incentive award for 2023. Students hospitalized after ingesting edibles ...
PayPal's quarterly earnings were up, but its CEO stayed relatively quiet on the company's new stablecoin.
Visa is seeing continued momentum in Tap to Pay and digital credential issuance, as consumers continue to spend on their debit and credit cards. CEO Ryan McInerney said on the call that overall payments volume in the second fiscal quarter was up 8% year over year (YoY), while U.S. payments volume was 6% higher YoY. International […]
HYBE has initiated an audit of the management at ADOR, a subsidiary label that includes the group NewJeans.On the 22nd, news emerged that HYBE had ca