Grab, Southeast Asia’s leading everyday super app, has launched GrabPay Card, Asia’s first numberless card that offers users unparalleled card security, access to an expanded rewards ecosystem and hassle-free Grab payments integration in order to bring cashless convenience to millions in Southeast Asia.The digital GrabPay Card is available in Singapore and users can apply for the physical numberless card after receiving their digital card.The physical card will be rolled out in batches. The digital GrabPay Card will be launched in the Philippines in Q1 2020, with other Southeast Asian countries to follow in the first half of next year.Close The GrabPay Card is a culmination of Grab’s ongoing partnership with Mastercard that aims to bring financial inclusion to the millions of underbanked and unbanked in Southeast Asia. related news Fintechs laud RBI’s move to introduce prepaid payment instrument For American Express, Data Science is in the … [Read more...] about Grab launches Asia’s first numberless card in Singapore
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63.36% votes cast in second phase of polling in Jharkhand
An estimated 63.36 percent votes were cast on December 7 in the second phase of election for the Assembly in Jharkhand where one person killed was in firing by security personnel near a polling booth.The voting figure is likely to go up as reports from remote places are awaited.Polling in the 20 constituencies had begun at 7 am amid tight security. It ended at 3 pm in 18 of them while in the rest two - Jamshedpur (East) and Jamshedpur (West) - the polling ended at 5 pm, Election Commission sources said.Close Chief Minister Raghubar Das was in the fray in Jamshedpur (East). related news Disgruntled Khadse hints he may consider other options Income tax dept conducts search ops on stock brokers, traders across country Jharkhand Additional Director General of Police Murari Lal Meena said the man was killed when personnel of the Rapid Action Force (RAF) fired on the assailants near booth number 36 in Sisai constituency for trying to snatch their arms.Two persons who were injured … [Read more...] about 63.36% votes cast in second phase of polling in Jharkhand
Fintechs laud RBI’s move to introduce prepaid payment instrument
The Reserve Bank of India has proposed the introduction of a prepaid payment instrument (PPI) that could be used only for transactions of goods and services worth up to Rs 10,000. It issued a statement announcing this following the Monetary Policy meeting on December 5, 2019.The central bank believes that the usage of PPIs, like the one proposed, can help promote digital payments and financial inclusion.It added that only banks and non-banking financial companies will be authorised to issue and load these PPIs. The instrument could be used for pay bills and merchant payments and transfer payments online.Close Since it is a lower value PPI, the customer will have to submit essential minimum details to procure it from the bank. RBI said it will give final instructions about this by December 31, 2019 after notifying the changes to Foreign Exchange Management Act Regulations. related news NEFT to be available 24x7 from December 16: RBI Forex kitty continues to swells, … [Read more...] about Fintechs laud RBI’s move to introduce prepaid payment instrument
ZestMoney partners with Xiaomi to offer small ticket loans
V BhatiaZestMoney, an AI-driven EMI financing platform, has partnered with smartphone company, Xiaomi, to provide cash loans to Indian customers.The product, MiCredit, allows customers to avail instant credit straight into their bank accounts for amounts ranging from Rs 7,000 to Rs 1,00,000.Close Announcing the product’s launch, Lizzie Chapman, Co-founder and CEO at ZestMoney said that the company has been working with Xiaomi India for three years to enable affordability solutions across their platforms from EMI on Mi.com to point of sale finance in MiHome, e-commerce marketplaces like Flipkart for Mi products, and in-store at Mi Home stores. related news Grab launches Asia's first numberless card in Singapore Fintechs laud RBI’s move to introduce prepaid payment instrument “The launch of MiCredit marks a deepening of this relationship as ZestMoney makes its first move into cash loans. We are proud to partner with Xiaomi India in their endeavour to empower … [Read more...] about ZestMoney partners with Xiaomi to offer small ticket loans
Quick Take | Gandhi family critic, Raghuram Rajan fan: How CEA Krishnamurthy sees the world
Much has been made of the support given to demonetisation by Krishnamurthy Subramanian, the government’s new Chief Economic Advisor. To be sure, he did write in his columns that demonetisation was a revolutionary act and that the poor were not the worst affected. He had disparaging things to say about the policies of the Gandhi dynasty, just before the elections to the Uttar Pradesh state assembly. He also wrote about the rise of crime in Uttar Pradesh under Mayawati and the Samajwadi Party, again just before the elections there.But while these views may have earned him brownie points among the powers that be, to his credit Subramanian hasn’t shied away from having independent views on several other subjects. For instance, he castigated the move to remove former Reserve Bank of India Governor Raghuram Rajan, who had been his teacher; saying we don’t treat our heroes well. He has been critical of the non-implementation of several of the recommendations of the PJ … [Read more...] about Quick Take | Gandhi family critic, Raghuram Rajan fan: How CEA Krishnamurthy sees the world