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'Conflict of Interest' may hit Mastercard and Visa's NUE licence plans

As of now there s no clarity on whether Visa and Mastercard s presence in a New Umbrella Entity (NUE) for digital payments will be seen as conflict of interest. ....

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Paytm clocked 1.2 billion transactions across platforms in February

Paytm clocked 1.2 billion transactions across platforms in February
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Last Updated: Mar 01, 2021, 05:01 AM IST
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Synopsis
Paytm, operated by Vijay Shekhar Sharma’s One97 Communications, consistently reports third-highest UPI transaction volumes behind PhonePe and Google Pay.
Paytm is joining hands with Ola and IndusInd Bank to apply for a NUE licence from RBI and set up its own national payment network.
Mumbai:Paytm clocked more than 1.2 billion monthly transactions in February across platforms, courtesy the massive growth in offline payments and financial services, India’s most-valued fintech startup said.
The February run rate is consistent with January, a company spokesperson said but didn’t disclose the previous month’s numbers. ....

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Scoop: Reliance partners Google, Facebook in seeking NUE licence from RBI

The new umbrella entity (NUE) will be jointly promoted by a Reliance unit and Infibeam Avenues So Hum Bharat, while Facebook and Google will hold smaller stakes of less than 20% each. ....

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Exclusive: Tata Group takes over SBI bid for NUE licence from RBI

Exclusive: Tata Group takes over SBI bid for NUE licence from RBI
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Tata Group will promote its digital payments entity through its subsidiary Ferbine Pvt. Ltd., in which Bharti Airtel, HDFC Bank and Kotak Mahindra Bank are also stakeholders. Mastercard and PayU are also part of the consortium.
Reuters
An NUE licence will go a long way in helping Tata Group lay the groundwork for its Super App against Reliance Group and Amazon, which are also in the fray to set up a new umbrella entity for digital payments under RBI guidelines.
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Mumbai: The Tata Group has taken over State Bank of India s bid for a New Umbrella Entity (NUE) payments licence, after the state-run lender s bid ....

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Reliance latest news | Reliance teams up with Google, Facebook in seeking NUE licence for retail payments

Updated Feb 27, 2021 | 16:29 IST
Reliance, Google, and Facebook will team up with So Hum Bharat Digital Payments Pvt Ltd to submit their proposal to the Reserve Bank of India
Reliance teams up with Google, Facebook in seeking NUE licence for retail payments | Photo Credit: BCCL
New Delhi: Reliance Industries Ltd has partnered with Google and Facebook to seek a license to set up a New Umbrella Entity (NUE) for retail payments in the country. The umbrella entity will allow them to create a payments network similar to the Unified Payments Interface (UPI) to gain a share of India’s burgeoning digital payments market. ....

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