“The Tata Group is leading the consortium. Ferbine has been set up solely to apply for the licence to set up a pan-India payments network which can process online payments with a specialised focus on e-commerce transactions. An official bid has been submitted to the Reserve Bank of India,” said a source cited above.
Mails sent to Flipkart, PayU, Nabard and Mastercard didn t elicit a response. A Tata Group spokesperson declined to comment for this story.
From Facebook to Google to Amazon, companies are vying to have a pie of the domestic payments infrastructure that’s forecast to grow by billions of dollars, making India one of the fastest growing and open digital payment markets in the world. Digital payments grew at an annual rate of 55% in the past five years in the country, and the pandemic has further accelerated the shift.
Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 209.50 points, or 1.37 per cent, lower at 15,085.50 in signs that Dalal Street was headed for a gap-down start on Thursday.
Tech View: Nifty support at 15,000
Nifty50 took out its 13-day and 20-day moving averages on Wednesday and formed a long bullish candle on the daily chart. This was the third day when the index formed higher highs and lows. Analysts said support for the index has shifted higher, and as long Nifty stays above 15,000, the bias may remain positive.
Asian shares tank up to 1.6% in early trade
mastercard: Flipkart, Mastercard, Nabard and PayU to hold 30% in Tata NUE indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The Straits Times
Mukesh Ambani is pivoting Reliance Industries toward consumer businesses of telecom, retail and e-commerce.PHOTO: REUTERS
PublishedMar 2, 2021, 8:26 am SGT
https://str.sg/JVhn
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Asian equities opened lower on Wednesday on concerns about rising interest rates and rich equity valuations and following a downdraft in US and European overnight trading.