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Indian exporters face challenges with e-FIRS (Foreign Inward Remittance Statement) generation, which requires 2-3 weeks and multiple bank follow-ups. With this partnership, Cashfree Payments will provide e-FIRS to Tazapay merchants, complete with remitter & buyer details, for all their transactions within one business day.
PhonePe plans to deploy the new funds to make significant investments in infrastructure, including the development of data centers and help build financial services offerings at scale in the country.
PayMate Receives In-Principle Authorization To Operate As A Payment Aggregator From RBI
Ajay Adiseshan, Chairman and Managing Director, PayMate says, “We are elated to receive in-principle authorization from RBI to operate as a Payment Aggregator in India. With digital payments fast becoming ubiquitous, these measures buoy customer confidence and trust and help us adopt appropriate frameworks for managing risk.
PayMate incorporates its entities in Singapore and Sri Lanka to offer B2B payment services
Ajay Adiseshan, Chairman and Managing Director, PayMate further adds, “We are expanding into Singapore and Sri Lanka to offer B2B payments and working capital solutions for businesses. The PayMate platform provides an interface to simplify the payments and collection process for our customers and their suppliers, dealers/distributors, and commercial credit cards enablement to make timely payments, manage cash flows and end-to-end reconciliation.”
National Payments Corporation of India (NPCI) on October 10th launched NPCI Partner Program (NPP) with an intent to collaborate with various Technological…
Simpl on September 27 announced a tie-up with CCAvenue for a seamless checkout experience for enabling frictionless checkout and pay…
Cashfree Payments enables DASH to manage the payments from 2000+ small merchants in Tier-3 areas
DASH will be using Cashfree Payments’ point of sale solution, ‘softPOS’, to offer this service to more than 2,000 small merchants in Tier-3 areas.
Around 80% of monthly active users on PhonePe have tokenized their cards following RBI’s tokenisation guideline and nearly 100% of eligible transactions on the app are securely processed via tokens now, PhonePe said.
The Payments Infrastructure Development Fund was set up by the Reserve Bank of India (RBI) to subsidize deployment of Points of Sale (PoS) infrastructure (physical and digital modes) in Tier-3 to Tier-6 centres and North Eastern States of the country.
Anish Achuthan, Co-founder & CEO, Open Financial Technologies, said, “We now look forward to scaling the solution by working closely with banks to offer a suite of products for cross border payments and trade finance which will benefit millions of SMEs in India. We also plan to offer this solution to Financial Institutions globally through our enterprise banking offering- BankingStack”