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Top 10 stories of the week: July 31st to 6th August 2017

In no particular order, here are MediaNama’s top 10 stories of the week ended 6th August 2017

MediaNama would like to thank its sponsors: E2E for their support.

Paytm launching a messaging service: On Paytm vs Whatsapp

Mobile payment company Paytm, backed by Chinese payments and ecommerce major Alibaba, is planning to launch a messaging service, reports Reuters. The messaging service will, according to the story, be “embedded in its payments app, and allow users to send audio, video, pictures and texts. Read it here

BookMyShow acquires Nfusion to boost its audio entertainment segment

BookMyShow has acquired Nfusion for an undisclosed amount in an all cash deal to boost its audio entertainment vertical. This comes shortly after the online ticketing company started a music service called Jukebox. Read it here

Fork Media acquires Rappio Advertising in its fourth acquisition

Digital advertising company Fork Media has acquired a majority stake in Rappio Advertising. Rappio, which was founded in 2016 by Nirav Shah Shah, Sahil Mehta, Ishan Doshi and Anuj Shah, enables brands to use ad jingles, promos and announcements to be played as ringtones tones. Read it here

Madison Media buys majority stake in HiveMinds

Sam Balsara’s Madison Media has bought a majority, controlling stake in performance marketing agency HiveMinds. HiveMinds is a 6 year old digital agency firm with Search, Social, Performance Marketing & Programmatic buying capabilities. HiveMinds was founded by Jyothirmayee JT. Read it here

Why is the government funding BHIM? Other issues

The BHIM app, which is a digital payments application which uses the Unified Payments Interface has received 2 crore (20 million) downloads, Ravi Shankar Prasad, the Minister of Electronics and Information Technology told Parliament, earlier this week. This was during Zero Hour, and he added that there have been close to 50 lakh (5 million) transactions on the BHIM App, worth Rs 1500 crores (around $235.75 million at current rates). Read it here

Apple sold 41.02 million iPhones in Q3 2017, down 19% QoQ

Apple CEO Tim Cook said during an analyst call that the company has sold 1.2 billion iPhones till date since the launch of the first model 10 years ago. This is up from the 1 billion iPhones that the company sold exactly a year ago. Read it here

Bajaj Finance buys 10.83% in Mobikwik for $35M; Credit wallet

Mobile wallet company Mobikwik has sold 10.83% stake for Rs 225 crores (approximately $35.34 million at current rates) to Bajaj Finance, as a part of a strategic deal between the companies, that allows Mobikwik to bring in credit facilities to a wallet business. Read it here

Lendingkart Group raises $10 million in debt funding

Lendingkart Finance Limited has raised $10 million in debt funding from Kotak Mahindra Bank, Aditya Birla Financial Services, and other financial institutions. The funds will be used to expand its operations to 700 cities and restock its loan book. Read it here

PayPal and Mastercard extend their partnership to Asia Pacific region

Last year, PayPal and Mastercard decided to end their feud. PayPal had been urging customers in the US to use Automated Clearing House (ACH), a network which processes net banking, to load money into their wallets instead of cards. Read it here

Ola employee arrested for accessing Aadhaar KYC data; No case against KUA?

Abhinav Srivastav, the Ola employee and co-founder of Qarth Technologies, was arrested by the Bangalore City Police on the 1st of August 2017. The preliminary investigation of the Bangalore Police has revealed that Srivastava accessed and made available UIDAI data through the “Aadhaar e-KYC verification” application. More importantly, this was done through the “e-Hospital” application and its server. Read it here

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