Our Digital Payments coverage is brought you by Chillr: India’s 1st multi-Bank instant mobile payment app enabling fund transfers to anyone in your phonebook. Mobile wallet and recharge platform MobiKwik has opened up access to its Power Wallet interface to all retailers. What is Power Wallet? MobiKwik claims to process wallet payments faster via a one-time authentication process through the technology. With the Power Wallet interface, users need not enter their credentials repeatedly for subsequent payments. When retailers integrate Power Wallet, users get to make the payment from within the retailer's platform without re-direction. With one time integration, the Power Wallet is activated across the retailer's website, mobile website, apps, and offline point-of-sale terminal. Power Wallet is also patent pending. MobiKwik claims that the API has been integrated with partners such as OYO Rooms, PVR Cinemas, Zomato, Meru Cabs, Big Bazaar, WHSmith India, and Archies. Offline transactions: In October, MobiKwik claimed to have processed 500,000 transactions from August- September 2015, amounting to over Rs 60 crore. Out of the 500,000, 100,000 transactions were processed across 260 Big Bazaar outlets in the country. The top 5 cities for offline payments were Mumbai, Bangalore, Kolkata, Hyderabad and Delhi. Funding: In April MobiKwik raised ~$25 million in Series B funding led by Tree Line Asia, existing investor Sequoia Capital along with Cisco Investments and American Express for investing in technology data analytics, brand building and growing its user and merchant base. PayU bypasses entering CVV in card payments Earlier in December, payment gateway PayU Biz launched a new technology which would allow users…
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