 BharatPe – India’s first Fintech start-up enabling payments for merchants through interoperable UPI QR codes, has announced its foray into merchant services with a new app. Along with UPI payments, the app now allows merchants to manage their entire Bahi Khata and even note receivables and payables seamlessly. |
| Source- Business Standard |
 Reliance Industries Ltd. (RIL) acquired British toy retailer ‘Hamleys’ in an all cash deal. RIL has acquired Hamleys in 67.96 million pounds (about Rs. 620 cr). With this announcement, Reliance will get hold of 100% shares of Hamleys Global Holdings Limited (HGHL). |
| Source- Business Standard |
 Facebook has chosen London as the centre for the global roll-out of WhatsApp pay,before the social media giant launches its digital payments service on the mobile messaging platform in India. WhatsApp would hire nearly 100 people in London to focus on the digital payments service and additional operations staff would be hired in Dublin. Facebook chose UK because it attracts a multicultural workforce from many of the countries where WhatsApp is widely used, such as India. |
| Source- Business Standard |
 The Sunil Mittal led telecom major Bharti Airtel and Hughes Communications India (HCIL) have decided to combine their VSAT (Very Small Aperture Terminal) satellite communications operations in India. The transaction is subject to approvals by relevant authorities. HCIL is the India unit of Hughes Network Systems, LLC, the global leader in broadband satellite networks and services. VSAT refers to the provision of data services using satellites and is used extensively by banks and ATMs. Hughes will have majority ownership in the combined entity and Airtel will have a significant shareholding. |
| Source: Business Standard |
 Global card payments brand Mastercard has announced its plan of investing $1 billion in India operations over the period of next 5 years. About $350 million of the total amount would be invested in setting up a local payments processing center as per the Reserve Bank of India’s mandate to store all payments data locally. The rest of the investment will go towards existing services and expanding capacity among others. This is the first such processing center of the company outside of the US and could provide service markets such as Southeast Asia and Asia-Pacific. |
| Source: Business Standard |
 Huawei Technologies Co overtook Apple Inc to claim the No. 2 spot in smartphones making in the first quarter, moving a step closer to its avowed ambition of displacing Samsung at the top of the market. Huawei’s been steadily gaining on Apple and Samsung Electronics Co. with an increasingly high-end line-up of devices. |
| Source: Livemint |
 Markets regulator SEBI directed National Stock Exchange to pay more than Rs625 crore in the case of misuse of its co-location facility. SEBI has been probing alleged lapses in high-frequency trading offered through NSE’s co-location facility. The amount, if considered with simple interest, would come to little less than Rs1,000 crore. If it involves a compound interest, the fine could amount to around Rs1,300 crore. Besides, two former chief executive officers, Ravi Narain and Chitra Ramkrishna have been asked to disgorge 25% of respective salaries drawn during a certain period. According to the order, the exchange has also been prohibited from accessing the securities market directly or indirectly for six months. |
| Source- The Hindu Business Line |
 Paytm has launched a recurring payment service for merchants that are working on a digital subscription model. The move will allow the subscription-based businesses to collect payments from their subscribers effortlessly. Recurring payments are an automatic payment system wherein the merchants automatically charge their customers for a specified service on a pre-arranged schedule. |
| Source: Business Today |
 Facilities management provider UDS has acquired a majority stake in Matrix Business Services, which operates in the business assurance and background verification segment. This acquisition includes buying out the entire 19.77% stake of Kotak Mahindra Investments and 2.67% of Mahindra & Mahindra Contech and the balance 52.56% from other shareholders, mainly from all non-executive shareholders. The acquisition will help UDS expand its service offerings, as it currently manages 250 million sq. ft commercial space across India for around 700 clients with a workforce of over 46,000 employees. |
| Source- The Livemint |
 Iraq has become India’s top crude oil supplier for the second consecutive year, meeting more than one-fifth of the country’s oil needs in the 2018-19 fiscal year. According to data collected by the Directorate General of Commercial Intelligence and Statistics, Iraq sold 46.61 million tonnes of crude oil to India during April 2018 and March 2019. India provisionally imported 207.3 million tonnes of crude oil in 2018-19, down from 220.4 million tonnes in the previous financial year. Saudi Arabia has traditionally been India’s top oil source, but it was for the first time dethroned by Iraq in 2017-18 fiscal year. |
| Source- The Hindu Business Line |
You need to login to perform this action.
You will be redirected in
3 sec
