Walmart’s top executives are betting big on its Indian payments enterprise PhonePe’s foray into digital ATM business to claim the top spot in the country’s increasingly competitive digital payments market where the global retailer faces stiff competition from peers Google, Amazon, Facebook and Alipay-backed Paytm. The recently-launched digital ATM feature by PhonePe plans to enable […]
IIT-M admits e-mail servers are down
IIT Madras has roped in technology services company Microsoft to resolve a server-related dysfunction impacting official e-mails since late Monday evening, said a senior professor aware of the network issue plaguing one of the top engineering and research institutes in the country. In a statement to the press on Wednesday, IIT-Madras said the e-mail sever […]
CCI fails to prove e-commerce marketplaces’ exclusive deals with smartphone makers
India’s competition watchdog did not have any material on record to prove that ecommerce marketplaces Amazon and Flipkart entered into exclusive deals with smartphone manufacturers on their platforms, according to a detailed transcript of a court order. The Karnataka High Court had on Friday stayed the Competition Commission of India’s January 13 directive ordering a […]
ETMoney now lets users invest in NPS through its app
ETMoney has introduced an option to invest in National Pension Scheme (NPS) to help customers save on taxes and increase flow to the PFRDA controlled pension corpus.Through the feature, the fintech platform expects to double the NPS users across the country, a company spokesperson said. “India has one of the youngest working populations in the […]
Swiggy raises $113M led by Naspers, valuation stays flat at $3.3B
Illustration: Rahul Awasthi Food delivery platform Swiggy has raised $113 million led by South African internet giant Naspers, valuing it at nearly $3.3 billion. Other existing investors Hadley Harbour Master Investments and Meituan also participated in the round, regulatory filings show. About $100 million of the investment has come from Naspers, which holds over 40% […]
Swiggy raises $113 million led by existing investor Naspers
Illustration: Rahul Awasthi Online food ordering platform Swiggy has raised $113 million, led by existing investor South African internet giant Naspers. The latest capital raising values the company at nearly $3.6 billion. The fund infusion is part of a larger $150 million funding round, sources said. Other existing investors, Hadley Harbour Master Investments and Chinese […]
‘UPI Chalega’ campaign to cast the net wider
A microsite UPIChalega.com has also been setup where users can access information about live banks and third-party apps. India’s Unified Payments Interface (UPI) is all set to get its ‘Mutual Fund Sahi Hai’ moment. Awareness campaigns and adoption drives for popular payments interface is set to flood India’s media space as regulators and government bodies […]
Flipkart leads Walmart’s international e-commerce numbers
US retail giant Walmart on Tuesday reported that ecommerce contributed 12% to its international sales during the quarter ended January 31, led by Flipkart and online grocery delivery in several markets. In its fourth quarter earnings report, the company said that international sales had grown by 2.3% to $33 billion, despite a disruption in Chile […]
Social media companies to join hands for cleanup
Illustration: Rahul Awasthi The world’s biggest social media companies, including Facebook, Google, Twitter and ByteDance, are exploring an industry-wide alliance to curb fake news on their platforms in India, even as the government finalises regulations aimed at censoring content. The proposed alliance — to be named the Information Trust Alliance (ITA) — will be a […]
ShareChat to stay focused on users, unique content
Illustration: Rahul Awasthi ShareChat will continue to focus on growing and retaining users over monetising the platform, a top executive of the homegrown social media platform told ET, even as the app faces intense competition from Chinese ByteDance-owned short video platforms TikTok and Helo in India. In the last six months, ShareChat has consciously boosted […]