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Google and Walmart face growth hurdles as India caps payments transactions

Google and Walmart face growth hurdles as India caps payments transactions Google and Walmart have a new challenge ahead of them as they race to expand the reach of their payments apps in India: They won’t be permitted to grow beyond a limit. National Payments Corporation of India (NPCI), the body that operates the widely […]

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Walmart’s PhonePe zips past Google Pay in India as UPI tops 2B monthly transactions

Walmart’s PhonePe zips past Google Pay in India as UPI tops 2B monthly transactions UPI, a payments infrastructure built by India’s largest banks, surpassed 2 billion transactions last month, exactly a year after hitting the 1 billion monthly transactions milestone. Driving the transactions for UPI — which has become the most popular digital payments method […]

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SAIF Partners rebrands as Elevation Capital, secures $400 million for its new India fund

SAIF Partners rebrands as Elevation Capital, secures 0 million for its new India fund SAIF Partners has raised $400 million for a new fund and rebranded the 18-year-old influential venture capital firm as it looks to back more early-stage startups in the world’s second largest internet market. The new fund is SAIF Partners’ seventh for […]

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Google delays mandating Play Store’s 30% cut in India to April 2022

Google delays mandating Play Store’s 30% cut in India to April 2022 Google is postponing the enforcement of its new Play Store billing policy in India to April 2022, days after more than 150 startups in the world’s second largest internet market forged an informal coalition to express concerns over the 30% charge the Android-maker […]

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Indian startups explore forming an alliance and alternative app store to fight Google’s ‘monopoly’

Indian startups explore forming an alliance and alternative app store to fight Google’s ‘monopoly’ Google, which reaches more internet users than any other firm in India and commands 99% of the nation’s smartphone market, has stumbled upon an odd challenge in the world’s second largest internet market: Scores of top local entrepreneurs. Dozens of top […]

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Indian mobile gaming platform Mobile Premier League raises $90 million

Indian mobile gaming platform Mobile Premier League raises million Mobile Premier League (MPL) has raised $90 million in a new financing round as the two-year-old Bangalore-based esports and mobile gaming platform grows its user base and looks to expand outside of India. SIG, early-stage tech investor RTP Global, and MDI Ventures led MPL’s $90 million […]

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Thanks to Google, app store monopoly concerns have now reached India

Thanks to Google, app store monopoly concerns have now reached India Last week, as Epic Games, Facebook, and Microsoft continued to express concerns about Apple’s “monopolistic” hold over what a billion people can download on their iPhones, a similar story unfolded in India, the world’s second largest internet market, between a giant developer and the […]

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Google pulls India’s Paytm app from Play Store for repeat policy violations

Google pulls India’s Paytm app from Play Store for repeat policy violations Google has pulled Indian financial services app Paytm from the Play Store for repeatedly violating its policies, two people familiar with the matter told TechCrunch. Paytm is India’s most valued startup and claims over 50 million monthly active users. Its marquee app, which […]

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China’s Alibaba won’t invest in Indian startups for at least six months, report says

China’s Alibaba won’t invest in Indian startups for at least six months, report says Chinese internet giant Alibaba Group has put on hold plans to invest in Indian startups amid geo-political tensions between the two countries, Reuters reported Wednesday, citing two unnamed sources. The Chinese group, which has invested more than $2 billion in Indian […]

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Amazon now sells auto insurance in India

Amazon now sells auto insurance in India Amazon’s India business said on Thursday it has begun offering auto insurance to cover two and four-wheeler in the country, marking American giant’s first foray into this financial services category globally. The e-commerce giant said it had inked a deal with Mumbai-headquartered Acko General Insurance to offer customers car […]

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