India

Future Retail Ltd., India’s biggest department store chain that gained from the government’s surprise currency clampdown, still has room to extend the rally that’s more than doubled its market value this year.

Companies that allow merchants to quickly set up card acceptance through mobile technology are rushing to fill a void in the Indian market following the country's dramatic shift in cash policy.

Wells Fargo & Co. is expanding its ExpressSend remittance payout network in India to include Axis Bank and, beginning next month, expanding a free-transfer promotion previously available only for those sending at least $500.

The next phase of India’s national digital payments initiative begins next month when 20 banks launch Aadhaar Pay, an app enabling merchants to accept payments on smartphones from consumers using biometric authentication.

Swedish startup Truecaller has become the newest entrant in India’s busy digital payments space, via a tie-up with ICICI Bank Ltd. to offer a local mobile-payments service.

Mastercard and Samsung India have partnered to roll out Samsung Pay to millions of customers of Indian banks.

Chillr, one of India’s growing number of mobile payment apps enabling person-to-person payments between customers of different banks, is expanding to 45 banks in the country.

Flipkart Online Services Pvt has completed a $1 billion fundraising and aims to raise as much as $1 billion more over the next few months, according to people familiar with the matter, giving India’s largest e-commerce company capital to battle back against rising competition.

By now most of the world knows of the disruption India's monetary system has undergone as its government discourages paper cash and pushes digital alternatives, stopping short of outright forcing the issue. But there's another challenge within the market.

The Indian government's major change in cash policy and push for digital payments attracted the Chinese company to increase its stake in India's Paytm.