wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

Paymate is surrendering its wallet licence to the RBI

Mobile payments company Paymate is surrendering its wallet licence to the Reserve Bank of India (RBI). The RBI website shows that the surrender process began in February 2017. The company has a pre-paid payment instruments known as Paymate Wallet. "We have been business-to-business (B2B) payments focused processing over $2 billion annualized with sustainable unit economics and have no requirements for a wallet," Ajay Adiseshann replied to an email to MediaNama. Paymate pivoted from a business-to-consumer (B2C) business to a business-to-business model (B2B) in November 2014. At the time, it had mentioned that was targeting small and medium business operating in the travel segment. It company claimed that it is on its way to get on board 20,000 SMBs.  In February the company had over 13,000 registered businesses on its platform. Paymate raised $14 million as indicated by CrunchBase. It had raised $9…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ