Payments and finance PhonePe will start selling mutual funds, under a new business entity called PhonePe Wealth Services, on its platform, reports the Economic Times. The company aims to segregate its regulated and unregulated businesses. It will partner with existing players to expand its portfolio. *** The RBI has reportedly asked financial P2P lenders to submit lender, borrower, financial profile, total exposure of participants and their financial health details to it on a quarterly basis, reports the Economic Times. *** Digital lender NeoGrowth has tied up with financial marketplace Paisabazaar.com to offer swipe machine or POS based loans to small and medium scale enterprises. The companies claim that this partnership has increased their POS based loan business by 100% during October-December 2018 over the previous quarter. Its largest POS based disbursal through Paisabazaar is a loan of Rs 40 lakh to Chennai-based ‘BG Aadhithya Collection’. NeoGrowth claims to have 13,000 MSME merchants across 21 cities. *** PayNearby has launched BharatQR payments, following the release of AePS in partnership with NPCI and YES Bank. This will let merchants accept payments through BharatQR, which would be through BHIM UPI for users at the merchants’ shops. PayNearby claims to have 400,000 retail partners. *** Cashfree has partnered with PhonePe to let is users pay via PhonePe. Cashfree says that 5,000 merchants will be able to accept PhonePe as a payment method. Cashfree claims to do over 4 million transactions monthly, with volume growing 50% month on month (timeframe unspecified). *** Digital lender CASHe…
- IT Ministry May Shelve Self-Regulatory Bodies for Online Real Money Gaming Until Inter-Ministerial Views “Harmonised”: Report September 29, 2023
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- Fact Check Amendment Makes Platforms Judge Whether to Take Content Down: Lawyers Argue Before Bombay HC September 28, 2023
- Epic Games appeals Apple App Store verdict at US Supreme Court September 28, 2023
- Writers Guild of America succeeds at limiting the use of AI in film and TV writing September 28, 2023
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