India

Google Pay's collaboration with the country's digital transaction network is the latest example of Indian tech informing strategy elsewhere in the world, including the U.S.

The Reserve Bank of India says the card brand failed to comply with a requirement to store transaction details locally. The handling of payment information has become a point of contention between the Asian nation and American firms.

Private businesses are beginning to embrace the Reserve Bank of India's plan to create competition in the country's retail digital payment space, seeking new licenses to develop alternatives to the state-owned National Payments Corp. of India system.

Banking and payments technology tester and certifier Fime is working with the government of India to develop the testing infrastructure for a national contactless transportation card and accompanying mobile app.

A government-backed digital transaction system will soon have private sector rivals, who will have an inside track to returns on massive investments.

Tech pioneer Bill Gates praised India’s policies for financial innovation and inclusion, saying his philanthropic foundation is working with other countries to roll out open-source technologies modeled on the country’s implementation.

Japanese payment card network JCB has teamed with the State Bank of India to launch a cobranded debit card leveraging RuPay, the state’s domestic card scheme operated by National Payments Corporation of India.

India banned another 43 Chinese apps including some of Alibaba Group Holding Ltd.’s key shopping services, expanding its mobile blacklist to more than 200 applications.

Paytm’s decision to open its own app store after Google forced developers to use its billing system was a predictable move, as is the potential for fintechs to steal payment volume from the technology giants.

Financial Software and Systems is upgrading the card management technology for Everlink Payment Services in Canada, converting the legacy card issuing and transaction processing systems to a single digital platform.