India

Competition between card networks, tech titans Facebook and Google, Chinese fintech proxies Paytm and Hike, and M-Pesa will be fierce, and offer signs how other large emerging payments markets may evolve, writes Eric Grover, a principal at Intrepid Ventures.

An integration with transfer company bux will remove navigation and manual processes for remittances to India.

In India, dLocal wants to enable global e-commerce companies to accept payments from and make payments to India to serve consumers, contractors and supply chains.

Uber India this week announced its integration with Unified Payments Interface (UPI), the mobile payments technology developed by the government-sanctioned National Payments Corporation of India and two local banks, expanding mobile payments access to Uber riders and drivers.

E-commerce cross-border payments provider dLocal has updated its platform in India, enabling global e-merchants to accept and remit payments through all local methods and target the mobile consumer in the country.

Mastercard and Visa have also opened development centers in India, where digital payments are growing quickly.

In the next phase of India’s push to diminish the country’s heavy reliance on cash, the Reserve Bank of India has approved the rollout of a national electronic bill-payment system.

Next month, India Prime Minister Narendra Modi’s government will begin amassing a warehouse of virtual information collected not just from traditional sources like banks but also from social media sites, as it looks to match residents’ spending patterns with income declarations, said people familiar with the matter.

At least one winner has emerged from India’s crackdown on so-called black money: the country’s richest banker.

Snapdeal’s co-founders are resisting the latest acquisition bid from rival Flipkart Online Services Pvt. and the company’s board plans to let all shareholders vote on the offer to reach a final resolution, according to people familiar with the matter.