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Top 10 stories of the week: December 5th to December 11th 2016

In no particular order, here are MediaNama’s top 10 stories of the week ended 11th December 2016 MediaNama would like to thank its sponsors: Indian Express and E2E for their support. Paytm to transfer wallet users to Payments Bank company Users of Paytm’s wallet services, which are currently run by Mobile VAS company One97 Communications, will be shifted to Paytm Payments Bank Ltd, the company has announced via a public notice in the newspapers. Read it here Jugnoo launches a UPI payment app with YES Bank Online auto-rickshaw aggregator Jugnoo has now launched its own unified payments interface (UPI) payments app called Jugnoo Pay. The company has partnered with YES Bank for the SDKs to develop the application and seems to be fashioned along the lines of Flipkart’s PhonePe. Read it here Update: FreeCharge gets a wallet license from the RBI; But who owns it? Update: A spokesperson for FreeCharge said that Klickpay, a subsidiary of Snapdeal, had approached the RBI for a wallet licence before it acquired Freecharge in March 2015. In January 2016, Klickpay was renamed Freecharge Payment Technologies Private Limited and Accelyst is a super merchant for the company (not sure what that means). Read it here The UPI saw more than 287k transactions in November The total number of transactions on the Unified Payments Interface stood at 287,388 for the month of November. The volume of the UPI transactions amounted to Rs 902,282,385 (Rs 90.2 crore), as indicated by the Reserve Bank of India (RBI). Read…

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