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In another boost to mobile wallet firms including Paytm, Freecharge, MobiKwik, as well as payments platforms such as Google Pay , BHIM UPI, and the much awaited Jio e-commerce platform, the government is contemplating making QR codes mandatory at all shops and commercial establishments. If this move gets a final go-ahead then digital payments would be an integral part of all commercial establishments from mom and pop stores to large retail chains. According to sources, while the outline of enforcing the order has been finalised, most of the work in this regard would only happen post TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 149 A MONTH

Phone number search engine Truecaller on Wednesday announced a strategic investment into the payments space in India by acquiring Chillr, the country’s first multi-bank payments app. Truecaller co-founder and chief strategy officer Nami Zarringhalam said the founders of Chillr — Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran — will join Truecaller. Sony Joywill be the vice-president of Truecaller Pay. Zarringhalam said the company intended to leverage its full reach of over 150 million users in India as well as its 300-plus existing partnerships in the country. “ By acquiring Chillr, we are reaffirming our commitment to mobile payments and strengthening our plans to raise its adoption amongst our user base,” Zarringhalam said. He, however, did not disclose the amount paid and the terms and conditions for acquiring the Chillr, which was launched in 2014. Truecaller has 65 employees in India. Chillr co-founder Sony Joy said: “While ICICI partnersh...

In a bid to accelerate self-employment opportunities, the finance ministry has decided to organise Mudra Promotion Camps across the country beginning September 27 from the Prime Minister's constituency Varanasi. As part of the special drive, 50 camps, including one each in state capitals, will be organised between September 27 and October 17, official sources said. Besides, the camps will facilitate various modes of digital payments enabling users to transact from anywhere and create awareness on various financial inclusion instruments, the sources said. The campaign will help promote not only Mudra loans but spread awareness about digital payment method, financial inclusion and social security schemes, the sources added. It is to be noted that banks have sanctioned Rs 74,601 crore to 1.59 crore beneficiaries across the country since April this year. Since the launch of Mudra Yojana by Prime Minister Narendra Modi in April 2015, banks have disbursed Rs 3.66...

Digital payments company MobiKwik has partnered Samsung Pay, under which consumers will be able to make payments with a single tap using select Samsung handsets. As part of the tie-up, MobiKwik wallet is now integrated with Samsung Pay Mini to enable one-tap payments at more than 1.4 million MobiKwik-powered merchants across the country, the digital payments firm said in a statement. MobiKwik's mobile wallet will also be available soon to Samsung Pay users, it added. "The future of digital payments in India will thrive only by collaborating with various ecosystem partners to drive acceptance. More than 55 million users and 1.4 million merchants will benefit from this association," MobiKwik Head of Growth Daman Soni said. There has been a massive growth in number of transactions using digital platforms in the country, especially after the government's move to scrap high-denomination notes in November. The government has also introduced a number of schemes...