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RIL plans global payments play via NUE


RIL plans global payments play via NUE
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The NUE will be jointly promoted by an RIL unit and Infibeam Avenue subsidiary So Hum Bharat along with two global giants - Facebook and Google. RIL is likely to hold 40 percent. Other three players are expected to own about 20 percent each.
ET Bureau
Reliance Industries proposed New Umbrella Entity (NUE) for payments services, in a consortium with Infibeam Avenue, Google and Facebook, has plans to make it a global payments player, said two people familiar with the matter.
The oil-to-retail conglomerate, which also runs Jio Payments Bank, will likely offer payment services overseas, probably pitting it against giants Visa and Mastercard in some markets if it gets the operating licence. ....

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Digital payments market will suffer from a lack of a revenue model say industry heads


3 hours ago
“There is a market distortion” in the digital payments industry today between incentives for earning revenues and growth, according to Sameer Nigam, chief executive officer, PhonePe. While the National Payments Corporation of India (NPCI) recently issued guidelines for its market share caps on the Unified Payments Interface, Nigam believes that without a merchant-discount-rate future investments in the sector could be threatened.
Nigam was speaking during discussion organised by Moneycontrol on the Future of Digital Payments in India on Clubhouse, the audio-only meeting app.  Other participants in the discussion included Dilip Asbe, CEO, NPCI; Harshil Mathur, CEO, Razorpay; and Vikram Vaidyanathan, managing director, Matrix Partners India. ....

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Paytm crosses 1.4B transactions in March; wealth management unit to open R&D centre in Pune


Paytm crosses 1.4B transactions in March; wealth management unit to open R&D centre in Pune
Paytm Money, which has opened an R&D centre in Pune, plans to hire over 250 front and back-end engineers, and data scientists to build new wealth products and services.
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Paytm Money, the wealth management arm of Indian fintech giant Paytm, on Thursday said it had opened a new
research and development centre in Pune to drive product innovation in equity, digital gold, and mutual funds.
The startup said it planned to hire over
250 front and back-end engineers, and data scientists to build new wealth products and services. ....

Varun Sridhar , Paytm Money , Android Smart , New Umbrella Entity , Financial Services , R Amp D , வருண் ஸ்ரீதர் , பாய்த்ம் பணம் , அன்றொஇட் புத்திசாலி , புதியது குடை நிறுவனம் , நிதி சேவைகள் , ர் ஆம்ப் ட ,