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Payments and fintech roundup: PhonePe, Hike Wallet, and CoinHub

PhonePe sold 5000 POS devices in within first month

PhonePe said that it has sold 5000 units of its POS device after a few weeks of its launch. The PhonePe POS device works on Bluetooth, and does not require Internet connection for digital payments. It is meant to serve merchants like kirana stores, petrol pumps, food chains,  restaurants among others. For payments via PhonePe’s POS, users need to bring their phone close to the POS device and it automatically shows the merchant details & amount to be paid.  The company is currently selling the device in Bangalore on pilot basis, it is unclear when and how does it plan to expand. However, PhonePe said that it is looking to sell about 1 million units in 2018.

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Hike Wallet crosses 10m transactions, to add other payment services

Hike Messenger said that it has crossed 10 million transactions per month on its Wallet, of which 70% were on recharge and the remaining 30% on P2P. Hike Messenger had launched Hike Wallet to transfer money, recharge their phones, and send cash vouchers, in June this year. It claims that the transactions on waller are growing 100% month-on-month. Hike is also planning to add more services like cab bookings, bus, train, movie tickets and pay bills in Q1 2018.

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CoinHub users can now withdraw cash from ATMs in UAE

Technology company NCR Corporation has partnered cryptocurrency exchange CoinHub in the UAE  to enable users to make cash withdrawals from their cryptocurrency account at the ATM. How it will work: It is just like any other ATM transaction- a withdrawal begins with authenticating the user either by scanning a standard ATM card or via cardless access with a mobile device. Similar to the selection of checking or savings accounts, the user can opt to withdraw funds from their linked CoinHub cryptocurrency account. Details here.

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