50p weekly reading list #22–14 March 2018
Here’s what’s new this week.
PhonePe lashes out at Paytm’s UPI claims
In a blog post, PhonePe has brought out some statistics around transactions between PhonePe and Paytm users. PhonePe has found that while the number of transactions is high, the value of each transaction is much lesser.
Ezetap partners with Verifone to deploy its solution
Ezetap will now deploy its software solution with Verifone Point of Sale devices. The software will enable merchants to have a seamless experience on every PoS and adds more features than payments.
Razorpay says BHIM has highest share in merchant UPI transactions
Razorpay has come with statistics on the share of UPI apps. BHIM accounted for 48% of merchant transactions. PhonePe followed with 19% and Tez, 14%.
WhatsApp adds ‘Send to UPI ID’ feature
WhatsApp has added the ability to send payments to any UPI VPA. The feature was previously hidden in the app for Android devices, but has rolled out to all iOS and Android users. The payments feature is still under beta test and will be rolled out to everyone soon.
Percentage of users who have complied with KYC norms are still in single digits
Digital wallet players are struggling to meet stringent KYC norms set by the RBI. These companies are now moving to service the B2B industry by selling wallet accounts in bulk.
