India

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.

Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter.

An acquisition of the social app would bring with it users and data that can fuel Walmart, Microsoft or Oracle’s e-commerce and marketing battles against top competitors.

India’s antitrust watchdog is reviewing Facebook Inc.’s purchase of a 10% stake in Reliance Industries Ltd.’s digital assets, a deal that would give the U.S. giant another foothold in one of the world’s fastest growing internet markets.

DBS Bank India is offering a real-time digital payment service for truck drivers and supply chain companies that generally have round-the-clock operations and large transaction volume to cover employee expenses.

Amazon, Walmart and Facebook are using point of sale credit, deliveries and in-app payments to outflank Paytm in India, honing services that they see as vital to shaping the global economy's recovery.

Business payments gateway Cashfree has established new features for its insurance, web aggregator and broker clients in India to streamline policy premium collection, claim settlement and payouts to agents and hospitals.

SBI Cards & Payment Services Ltd. declined in its stock market debut as investor uncertainty stemming from the coronavirus pandemic cast a shadow over the listing of India’s first pure-play credit card issuer.

The Reserve Bank of India has temporarily halted operations at the struggling Yes Bank, leaving fintechs without a place to process payments.

India's 2018 ban on banks servicing traders and businesses dealing with cryptocurrencies has been overturned by the country's Supreme Court, opening the door for bitcoin and Facebook’s Libra.