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New Delhi, Mar 12 () Handset maker LAVA International on Thursday launched LAVA Pay, a digital payment solution that does not require internet connectivity. "The app comes with the highest security standards and enables feature phone users to conduct digital transactions in a simplified manner. The Lava Pay app will come pre-installed in the company's all upcoming feature phones," a statement said. In order to send or pay money from the app, users have to enter the phone number of the receiver, payment amount and the transaction Pass Code. Once the transaction is complete, both the sender and the receiver will receive an alert immediately. The app will also enable users to check their account balance, the statement said adding that users can visit their bank to configure application and start transacting. *****MultiLiving raises USD 6 mn from Lodha Ventures MultiLiving, a real estate platform, on Thursday said it has raised USD 6 million from Lodha ventures. The platform, which has launched operations in Mumbai, enables tenants to rent curated homes with a personal concierge and added services. "All our apartments are carefully selected in the niche societies and gated communities. We carefully screen every potential tenant who will love and take care of the home like it was their own. However, the final decision stays with the owner," Pankaj Singh, CEO and founder of MultiLiving, said.*****Amazon to enable Indian customers to shop using voice Amazon on Thursday said it will enable Indian customers to shop using voice, powered by Alexa. Customers can now use voice commands to search, add to cart, check order status and proceed to checkout, a statement said. "At launch, the voice offering is available on the Amazon shopping App on Android devices only. Customers have to update the latest version of the app available on the Google Play Store," it added. The statement said that while voice experience launched is primarily in English, Alexa can understand proper nouns and regional words across various languages.****** Swiss Re India appoints Hadi Riachi as India branch CEO Leading global insurance major Swiss Re on Thursday appointed Hadi Riachi as the chief executive of India branch operations to succeed G Satish Raju. The appointment is effective April 1 and subject to regulatory approvals. Riachi joined Swiss Re in 2015 as head of property and specialties for corporate solutions in Shanghai and most recently, he was the head of North Africa. Riachi will be based in Mumbai and will be driving growth across Swiss Re's property &amp; casualty and life &amp; health business lines in India. Swiss Re considers India as a high-growth market in Asia which it feels will drive 50% its total business. SR BEN HRS

LAVA launches non-internet digital payment solution

<ul><li>Prime Minister Narendra Modi will launch a new digital payment solution called <keyword id="11766571" type="UNKNOWN" weightage="20" keywordseo="e-RUPI">e-RUPI</keyword>.</li><li>Banks will issue electronic vouchers for customers to redeem welfare benefits without having to share bank account details.</li><li>The <keyword id="11772195" type="UNKNOWN" weightage="20" keywordseo="e-voucher">e-voucher</keyword> solution has the potential to eliminate fraud and corruption.</li></ul>The Prime Minister of India, Narendra Modi will be launching 'e-RUPI', an electronic voucher-based digital payment solution at 4:30 p.m IST on Monday. The person-specific, and purpose-specific, payment solution is developed by the National Payments Corporation of India (NPCI) on its Unified Payment Interface (UPI) platform in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare and the National Health Authority. What is e-RUPI? According to a statement from the Prime Minister’s Office, e-RUPI is a cashless and contactless digital payment e-voucher in the form of a QR code or SMS string delivered to the beneficiary's mobile phone. The e-voucher can be redeemed at the service provider without needing a card, digital payment app or internet banking service. The e-RUPI is a one-time payment mechanism that does not require any physical interface for transactions and is considered safe as it's prepaid in nature. It ensures that the payment to the service provider is made only after the transaction is completed without involving any intermediary. How is e-RUPI different from a virtual currency? e-RUPI can be used to make payments to a specific person, for a specific purpose, and is not transferable. On the other hand, a virtual or digital currency is just like normal currency but in digital form and can be used for any transaction. How are these vouchers issued? The vouchers will be issued by partner banks but the bank account details of the beneficiary are not needed. NPCI has built the e-RUPI system on its UPI platform and anyone who needs to issue the voucher would need to approach partner banks with issuing authority. Entities giving the e-RUPI voucher will have to submit the details of specific beneficiaries and the purpose of the payment to the banks. The beneficiary's identification will be based on their mobile number and name. What's the need for e-RUPI? The Indian government says that e-RUPI is expected to ensure a leak-proof delivery of welfare services and minimise fraud and corruption. Since it removes the middlemen and there's no direct cash involved, it eliminates the possibility of the fund being used for a purpose other than intended. It can be used for delivering services under government welfare schemes like drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc. Not only government schemes but the voucher can also be used by the private sector for employee welfare and corporate social responsibility (CSR) initiatives. SEE ALSO - <a href="https://www.businessinsider.in/stock-market/news/windlas-biotech-to-raise-395-402-crore-through-public-listing-price-band-fixed-at-448-460/articleshow/84854594.cms">Windlas Biotech to raise ₹395-402 crore through public listing, price band fixed at ₹448-460</a> <a href="https://www.businessinsider.in/tech/mobile/news/googles-sundar-pichai-has-teased-the-whitechapel-chipset/articleshow/84853916.cms">Google teases Whitechapel chipset that may power Google Pixel 6 devices</a>

e-RUPI explained —  India’s new electronic voucher-based payment system to reduce leakage in welfare programmes

<ul><li><keyword id="8164702" type="General" weightage="100" keywordseo="twid" source="Orion">Twid</keyword>, a payment solution platform, has raised $12 million in a series A funding round led by Rakuten Capital.</li><li>The round also saw participation from <keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword>, ICMG Partners, JAFCO Asia, January Capital and many more.</li><li>The company will use the funds to build its merchant and issuer network and hire new talent.</li></ul>Bangalore-based payment solutions platform Twid on Wednesday said it had secured $12 million in a series-A funding round that was led by Rakuten Capital and also had Google Investing. The round also saw participation from ICMG Partners, JAFCO Asia, January Capital and Reddy Futures Fund along with existing investors BEENEXT and <keyword id="563136" type="General" weightage="20" keywordseo="Sequoia-India" source="Orion">Sequoia India</keyword>'s Surge. The company intends to use the funds to scale up and build its merchant and issuer network, expand product roll-outs, build tech capabilities – primarily in data science, and hire new talent. With this funding round, <keyword id="4385887" type="General" weightage="20" keywordseo="Rakuten-India" source="Orion">Rakuten India</keyword> CEO Sunil Gopinath will join Twid’s board of directors on behalf of Rakuten Capital – Rakuten Group’s corporate venture capital arm. “Twid is on a mission to revolutionise how rewards are viewed, understood and used across platforms by creating a completely new network. We are bringing together various industry stakeholders, nudging them towards a cashless ecosystem and future,” said <keyword id="2939430" type="General" weightage="20" keywordseo="Amit-Koshal" source="Orion">Amit Koshal</keyword>, co-founder and CEO of Twid. Founded in 2020 by Koshal, Rishi Batra, and Amit Sharma, Twid provides a platform that combines multiple loyalty/reward points of users across issuers such as banks, fintech firms, retail or e-commerce brands, and allows consumers to pay at offline and online stores using their reward points. According to the Q1 2022 Global Loyalty Programs survey, the loyalty programmes market in India is expected to grow by 12.6% on an annual basis to reach almost $143 billion in 2022. In India, loyalty and reward programmes have been used by brands and organizations – especially in the hospitality, tourism, aviation and retail sectors – as a strategy to broaden and deepen their customer base . Twid claims to have over 40 million registered users, and over 50,000 live merchants. It also has a payment network of banks, brands, payment gateways, merchants and customers. “By enabling reward points to be ubiquitous and fungible, we are witnessing very high customer delight. Customers are able to stay updated with their points and are able to save, earn and pay every time when using ‘Pay with Rewards’. This reaffirms our approach to delivering long-term value to merchants, issuers and customers,” Koshal added. ‘Pay with rewards’ is Twid’s payment option that enables buyers to use their reward points as payment at the time of purchase. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-is-now-the-12th-biggest-listed-entity-other-adani-cos-are-not-far-away/slidelist/93317527.cms">Adani Transmission is now the 12th biggest listed entity; other Adani cos are not far away</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/inflation-weather-and-more-push-july-services-sector-growth-to-a-4-month-low/articleshow/93315248.cms">Inflation, weather and more push July services sector growth to a 4-month low</a>

Payment solutions company Twid raises $12 million in series A funding from Rakuten Capital, Google and others

<ul><li><keyword id="604304" type="General" weightage="20" keywordseo="ags-transact-technologies" source="Orion">AGS Transact Technologies</keyword> is an omni-channel payment solutions firm, which provides digital and cash-based solutions to banks and corporate clients.</li><li>The company is looking to raise ₹800 crore through the <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword>.</li><li>The IPO is a complete offer for sale of ₹792 crore by promoter Ravi B Goyal and the rest by other shareholders.</li></ul>AGS Transact Technologies, a payments firm, is looking to raise ₹800 crore through its initial public offering (IPO). The IPO is a complete offer for sale (OFS) by existing shareholders wherein ₹792 crore will be sold by promoter Ravi B Goyal and rest ₹8 crore by several other shareholders. Prior to this, the company had made several attempts to go public. In 2015, it filed draft papers to raise ₹1,350 crore and then in 2018, it filed to raise ₹1,000 crore through an IPO. Reports say it had received the regulator’s nod, but did not go ahead with the plan. The company offers cash and digital payment solutions and automation technology. It provides customised products and services comprising ATM outsourcing and cash management, as well as online payment systems including payment provider for merchants, transaction processing services and mobile wallets. According to the DRHP, as of March 2021, it is the second largest company in India in terms of revenue from ATM managed services under the outsourcing model, and revenue from cash management and number of ATMs replenished. During the same period, it deployed more than 2.07 lakh payment terminals and was one of the largest deployers of POS (point of sale) terminals at petroleum outlets in India, having rolled out integrated payment solutions (IPS) at more than 16,000 petroleum outlets with 28,986 terminals in India. It serves industries such as banking, retail, petroleum, toll and transit, cash management and fintech in India and other select countries in Asia. But in the last three years the company’s revenue has been on a decline. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,805.70 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹66.1 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,800.40 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹83 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,758.90 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹54.7 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/10-nifty-50-stocks-with-more-than-20-percent-fpi-holding-under-pressure-on-concerns-over-foreign-inflows/slidelist/85485995.cms">The fear of dollar exodus has beaten down these ten stocks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cardano-is-hitting-new-high-as-investors-are-confident-about-its-upcoming-smart-contract-system-alonzo/articleshow/85486235.cms">Cardano overtakes Binance Coin to become the third largest cryptocurrency — here’s what’s driving the rally</a>

Digital payments firm AGS Transact Technologies to raise ₹800 crore via IPO

India has witnessed the fastest jump in alternative payment share for <keyword id="21422684" type="General" weightage="100" keywordseo="e-commerce-payments" source="keywords">e-commerce payments</keyword> in the <keyword id="20122305" type="General" weightage="20" keywordseo="Asia-Pacific-region" source="keywords">Asia-pacific region</keyword> from 20.4% in 2018 to 58.1% in 2023 as per a report by GlobalData, a data and analytics company. Options for payment other than traditional cash include <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>, <keyword id="6354770" type="General" weightage="20" keywordseo="debit-cards" source="Orion">debit cards</keyword> and <keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">credit cards</keyword> among others. "This significant uptake of alternative payment solutions can be attributed to the widespread usage of <keyword id="21223853" type="General" weightage="20" keywordseo="mobile-wallets" source="keywords">mobile wallets</keyword>, largely driven by UPI, which facilitates mobile payments in real-time simply by scanning <keyword id="19993724" type="General" weightage="20" keywordseo="QR-codes" source="keywords">QR codes</keyword>," GlobalData report elaborated. The report highlights that in the Asia-Pacific (APAC) region, the payment solutions such as mobile and digital wallets have displaced traditional payment methods like cash and bank transfers for e-commerce payments. The report states that such alternative payments are already immensely popular in countries like <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> and India and are also gaining traction in other APAC markets as well. However, China led the way in 2023, with alternative payments accounting for nearly two-thirds of the total e-commerce payments value in 2023 that took place in the entire Asia Pacific region. However, India is also not far behind, with a significant surge in alternative payment methods since 2018. The e-commerce analytics by the company revealed that even traditionally cash-intensive countries in APAC such as the Philippines, Malaysia, and Indonesia, are witnessing a similar trend. "While most Asian markets are traditionally cash-dominated, the adoption of alternative payment methods for both online and in-store payments is growing across many markets in the region, even outpacing the West. This trend is driven by the rising smartphone and internet accessibility, increasing convenience of electronic payments, and the proliferation of mobile and QR code-based payment solutions" said Shiv Gupta, Senior Banking and Payments Analyst at GlobalData. The report also highlights that within the Asia-Pacific region, China and India have a higher adoption rate of alternative payment methods as compared to their peers. According to the company's 2023 Financial Services Consumer Survey, alternative payment solutions account for more than 65% of the e-commerce transaction value in China, the largest e-commerce market globally. It represents a significant increase from 53.4% in 2018. Other Asian markets like Indonesia, Hong Kong, Singapore, and the Philippines are also seeing higher adoption of alternative payment solutions. "Alternative payment solutions accounts for lion share in e-commerce markets across many APAC countries, supported by rising internet and smartphone penetration, and growing acceptance of digital payments by merchants. With the convenience, speed, and security they offer, coupled with high expected growth in the overall e-commerce market in the region, these payment tools are anticipated to further gain traction and disrupt the consumer payment space in the region" said Gupta.

India's non-cash payments on e-commerce platforms surge to 58.1% in 2023

New Delhi, Feb 19 () BSE-listed Infibeam Avenues Ltd on Wednesday said it has forayed into the US, the world's second largest digital payments market by revenue, and will offer its solutions to web and mobile-based small and medium enterprises (SME). Infibeam will offer its vast array of digital payment solutions to web and mobile based SMEs largely operating in the online retail, education, hospitality and travel and tourism industry, apart from other industry verticals under the brand CCAvenue, the company said in a statement. "US market presents a trillion dollar digital payments processing opportunity. As part of our vision to change the way customers trade and transact globally through digitisation of commerce, we are committed to provide the best-in-class online digital payment solutions to merchants and customers in the US," Infibeam MD Vishal Mehta said. He added that to strengthen its position in the region, the company will explore opportunities to partner and collaborate with large financial institutions including selective acquisitions to extend its digital payments solution reach to merchants and customers in the US. "After innovating and dominating the Indian and UAE markets, we are looking forward to launching our advanced real time payment gateway solutions in USA, which is a huge market with over 280 million electronic payment users doing over 450 transactions per capita per year," Infibeam Executive Director Vishwas Patel said. SR SHWSHW

Infibeam Avenues expands digital payments biz to US

<ul><li>Payments startup <keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> raised investment from <keyword id="563136" type="ORGANIZATION" weightage="20" keywordseo="Sequoia-India">Sequoia India</keyword>, Ribbit Capital, Tiger Global and Y Combinator. </li><li>The startup claims to have grown by 500% last year and wants its total headcount to hit 700 by 2020 from its current number of 350. </li><li>Recently, the startup had launched payments solution in 100 currencies to help Indian MSMEs work with global businesses.</li></ul><keyword id="3321173" type="PERSON" weightage="20" keywordseo="payments-solutions">Payments solutions</keyword> startup Razorpay raised $75 million in a series C round of funding from marquee investors like Sequoia India and Ribbit Capital, along with participation from Tiger Global and Y Combinator. With the new investment, Razorpay plans to hire senior employees and take its total number of employees to 700 by 2020 from the current strength of 350. The 5-year old startup founded by IIT alums Harshil Mathur and Shashank Kumar has been growing its business rapidly and claims to have grown by 500% in the last financial year. “Our key mission is that while our partner businesses disrupt the Indian economy with new ideas, products, experiences and new jobs, we want to power their financial systems. Over 350,000 disruptors partnered with us to create the difference that we are here to make. This funding has come in at a time when fintech and banking is evolving beyond payments and lending, and we would like to change the way businesses access banking products,” said Harshil Mathur, CEO and Co-Founder, Razorpay. It is poised for more growth. The company said that its neo-banking platform and lending arm could alone contribute to 40% of its revenue by next year. In early <a href="https://www.business-standard.com/article/news-ani/razorpay-launches-digital-payment-support-for-100-currencies-119060500789_1.html">June</a>, the startup offered digital payment support for 100 currencies enabling Indian businesses to transact and accept payment from global companies. It has Indian Railways Catering and Tourism Corporation, Airtel, BookMyShow, Zomato, Swiggy as its clients. Interestingly, Razorpay was also one of the first startups to announce Employee Stock Options. According to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/tiger-global-snaps-up-razorpay-esops/articleshow/66686980.cms">reports</a>, 140 employees had used their stock options in the company to cash in money from investment firm Tiger Global in November 2018. See Also: <a href="https://www.businessinsider.in/mobikwik-is-now-in-150-countries-for-international-mobile-recharge/articleshow/69842804.cms">MobiKwik marks its global foray, enables international recharge in 150 countries</a>

Razorpay has just raised $75 million and is looking to hire 350 new people

<ul class="summary-list"><li>Mastercard will bring FinGo's vein-scanning payments solution to more markets.</li><li id="recirc">And Visa is working on a biometric authentication solution for online transactions with the UAE's Abu Dhabi Islamic Bank.</li></ul><ul class="summary-list"></ul>Both card networks struck new deals in the biometrics space, which is expected to be worth <a href="https://www.biometricupdate.com/202010/global-biometrics-market-forecast-to-surpass-82b-by-2027-despite-pandemic" target="_blank" rel="noopener">$82.8 billion</a> by 2027.Here's what you need to know:<ul><li>Mastercard <a href="https://ibsintelligence.com/ibsi-news/mastercard-and-fingo-team-up-to-expand-vein-id-payments-globally/" target="_blank" rel="noopener">partnered</a> with FinGo to bring the fintech's biometric authentication offering to global markets. FinGo lets users verify their identities and authenticate transactions using their unique finger vein patterns. The partnership gives FinGo access to Mastercard's white-label payment processing solution, Mastercard Payments Services Gateway (MPSG), to help it grow its footprint in the Middle East, North Africa, Asia Pacific, Australia, and North America.</li><li>Visa <a href="https://ibsintelligence.com/ibsi-news/visa-and-adib-jointly-launch-the-uaes-first-biometric-authentication-for-e-commerce-transactions/" target="_blank" rel="noopener">brought</a> a biometric authentication solution to the UAE's Abu Dhabi Islamic Bank (ADIB). The partnership leverages Visa Consumer Authentication Service, which uses nontraditional payment verification methods like fingerprint and facial recognition. Through this integration, bank customers can use the tech to validate online transactions through the ADIB mobile app. It's also the UAE's first biometric authentication solution for ecommerce transactions.</li></ul>These moves can help Visa and Mastercard stay on top of an emerging payments trend. Thirty-seven percent of global consumers said they are at least somewhat comfortable with the idea of biometric payments, <a href="https://content-na1.emarketer.com/consumers-aren-t-universally-comfortable-with-biometric-payments-here-s-how-payment-providers-skeptics-fence-sitters-on-board-with-emer" target="_blank" rel="noopener">according to</a> a Mastercard survey.More people may have been willing to try this method in the last year after the pandemic pushed consumers to adopt new digital payment forms, including <a href="https://thefintechtimes.com/the-growth-of-contactless-payments-during-the-covid-19-pandemic/" target="_blank" rel="noopener">contactless</a> payments. And this trend looks sticky: 93% of global consumers would consider using at least one emerging payment trend in the next year, <a href="https://www.mastercard.com/news/research-reports/2021/new-payments-index-infographic/" target="_blank" rel="noopener">per</a> Mastercard. Visa's and Mastercard's latest biometric partnerships get them more involved in an increasingly popular space, which can help prevent them from losing market share to fintechs and remain leaders in the payments industry.They also complement the issuers' existing fraud prevention initiatives. The pandemic opened the door to a deluge of fraud, particularly ecommerce fraud, which hit <a href="https://www.businesswire.com/news/home/20210425005002/en/Juniper-Research-eCommerce-Losses-to-Online-Payment-Fraud-to-Exceed-20-Billion-Annually-in-2021#:~:text=BASINGSTOKE%2C%20England%2D%2D(BUSINESS%20WIRE,18%25%20over%20a%20single%20year." target="_blank" rel="noopener">$17.5 billion</a> in 2020 and is expected to break $20 billion this year, per Juniper Research-heightening the need for stronger payment authentication solutions.This could also be why both card networks ramped up their identification services: Visa recently <a href="https://www.finextra.com/newsarticle/38161/visa-invests-in-loginid-to-accelerate-fido-certified-sca?utm_medium=newsflash&amp;utm_source=2021-6-2&amp;member=78435er=78435" target="_blank" rel="noopener">invested</a> in biometric authentication startup LoginID, and Mastercard just <a href="https://www.businesswire.com/news/home/20210609005837/en/Mastercard-Focuses-on-Digital-Identity-Innovation-with-Close-of-Ekata-Acquisition#:~:text=PURCHASE%2C%20N.Y.%2D%2D(BUSINESS%20WIRE,variety%20of%20other%20digital%20interactions." target="_blank" rel="noopener">acquired</a> digital identification platform Ekata. Visa's and Mastercard's recent partnerships in the biometrics space might push more merchants and financial institutions to work with them so they can use those value-added services.Want to read more stories like this one? Here's how you can gain access:<ol><li>Join other <keyword id="9204993" type="UNKNOWN" weightage="60" keywordseo="insider-intelligence">Insider Intelligence</keyword> clients who receive Payments &amp; Commerce forecasts, briefings, charts, and research reports to their inboxes each day. <a href="https://www.insiderintelligence.com/become-a-client/?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_postr&amp;itm_content=bottom_bullets&amp;itm_term=enterprise_text_link-mastercard-visa-forging-biometric-partnerships-2021-6-partnerships-2021-6">&gt;&gt; Become a Client</a></li><li>Explore related topics more in depth. <a href="https://store.businessinsider.com/collections/payments-commerce?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=bottom_bullets&amp;itm_term=store_text_link-mastercard-visa-forging-biometric-partnerships-2021-6-partnerships-2021-6">&gt;&gt; Browse Our Coverage</a></li></ol>Current subscribers can access the entire Insider Intelligence content archive <a href="https://subscriptions.emarketer.com/">here</a>.

Mastercard and Visa dive deeper into the biometric payments space with new partnerships

For many years, technologists, venture capitalists, journalists, and large companies have pined for the era when the <keyword id="6354485" type="CITY" weightage="60" keywordseo="mobile">mobile</keyword> phone would become our wallet. 
And yet, already five years into the smartphone era, <keyword id="583485" type="UNKNOWN" weightage="60" keywordseo="Mobile-Payments">mobile payments</keyword> are not mainstream.
In recent <a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">coverage</a>, <a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">BI Intelligence</a> <a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">lays out the main kinds of mobile payment solutions</a> that currently matter, sizes the market, analyzes global adoption trends on the merchant and consumer-side and discusses the key problems that any mobile payment solution must solve to break into the mainstream. It also maps out potential winners and losers in the mobile payments race.
<a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Access the Full Report By Signing Up For A Free Trial Today &gt;&gt;&gt;</a>
Here are the four kinds of mobile payment solutions that currently matter: 
<ul>
<li>Carrier billing: Where the consumer pays by text message and the charge is added to their phone bill. <a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">This is great for a variety of specific use cases (reaching the unbanked, especially teenagers; ecommerce and gaming), but is crimped by carrier fees and control.</a></li>
</ul>
<ul>
<li>Near-Field Communications (<keyword id="6409450" type="ORGANIZATION" weightage="60" keywordseo="NFC">NFC</keyword>): Where the consumer can pay at the point of sale by waving his phone in front of a terminal. <a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">NFC has been overhyped:</a> it's not more convenient than cash or credit, and the many companies who want a piece of NFC are canceling each other's efforts out.</li>
</ul>
<ul>
<li>Apps: Where the consumer uses an app on his smartphone to pay, typically by scanning a barcode at the register. <a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">This is especially useful for specific companies and retailers to offer, as it allows them to offer loyalty rewards and discounts on top of payments.</a></li>
</ul>
<ul>
<li>Card readers: <a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Pioneered by startup Square, with recent entries from eBay (PayPal), Intuit, and Verifone, these solutions allow merchants to take payments by plugging a card reader into a smartphone or tablet.</a> They're very convenient (swiping a credit card is already ingrained consumer behavior) and piggyback on the existing credit card network. Card reader companies can offer value-added services on top of the payments experience to spur adoption by merchants and consumers.</li>
</ul>
In full, our <a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">special coverage of mobile payments</a>:
<ul>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Outlines the main strategic issues in the market.</a></li>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Analyzes the four kind of solutions that currently matter -- card readers and apps, carrier billing, and near-field communications -- and their prospects for success.</a></li>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Show why merchant-side adoption will drive the market, and shows how big it will get</a></li>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" target="_blank">Explains differences in global adoption trends</a></li>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Map out the winners and losers</a></li>
</ul>
<a href="https://intelligence.businessinsider.com/mobile-payments-are-poised-for-takeoff-2013-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP51&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">For full access to the report on Mobile Payments sign up for a free trial subscription today.</a>

MOBILE PAYMENTS: What's Taking So Long, And Who's Going To Win? 

For many years, technologists, venture capitalists, journalists, and large companies have pined for the era when the <keyword id="6354485" type="CITY" weightage="60" keywordseo="mobile">mobile</keyword> phone would become our wallet. 
And yet, already five years into the smartphone era, <keyword id="583485" type="UNKNOWN" weightage="60" keywordseo="Mobile-Payments">mobile payments</keyword> are not mainstream.
In a recent <a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">report</a>, <a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">BI Intelligence</a> <a href="https://intelligence.businessinsider.com/mobile-payments-an-explainer-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MobilePayments&amp;utm_content=link&amp;utm_campaign=BIIMobile">lays out the four kinds of mobile payment solutions</a> that currently matter, analyzes the two key problems that any mobile payment solution must solve to break into the mainstream, and maps out potential winners and losers in the mobile payments race.
<a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">Access the Full Report By Signing Up For A Free Trial Today &gt;&gt;&gt;</a>
Here are the four kinds of mobile payment solutions that currently matter: 
<ul>
<li>Carrier billing: Where the consumer pays by text message and the charge is added to their phone bill. <a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP7&amp;utm_content=link&amp;utm_campaign=BIIMobile">This is great for a variety of specific use cases (reaching the unbanked, especially teenagers; ecommerce and gaming), but is crimped by carrier fees and control.</a></li>
</ul>
<ul>
<li>Near-Field Communications (<keyword id="6409450" type="ORGANIZATION" weightage="60" keywordseo="NFC">NFC</keyword>): Where the consumer can pay at the point of sale by waving his phone in front of a terminal. <a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP7&amp;utm_content=link&amp;utm_campaign=BIIMobile">NFC has been overhyped:</a> it's not more convenient than cash or credit, and the many companies who want a piece of NFC are canceling each other's efforts out.</li>
</ul>
<ul>
<li>Apps: Where the consumer uses an app on his smartphone to pay, typically by scanning a barcode at the register. <a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP7&amp;utm_content=link&amp;utm_campaign=BIIMobile">This is especially useful for specific companies and retailers to offer, as it allows them to offer loyalty rewards and discounts on top of payments.</a></li>
</ul>
<ul>
<li>Card readers: <a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP7&amp;utm_content=link&amp;utm_campaign=BIIMobile">Pioneered by startup Square, with recent entries from eBay (PayPal), Intuit, and Verifone, these solutions allow merchants to take payments by plugging a card reader into a smartphone or tablet.</a> They're very convenient (swiping a credit card is already ingrained consumer behavior) and piggyback on the existing credit card network. Card reader companies can offer value-added services on top of the payments experience to spur adoption by merchants and consumers.</li>
</ul>
In full, the <a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">special report</a>:
<ul>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">Outlines the two overriding strategic issues in the market.</a></li>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">Analyzes the four kind of solutions that currently matter -- card readers, apps, carrier billing, and near-field communications -- and their prospects for success.</a></li>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">Show why it's too early to size the market (but why it will be big).</a></li>
<li><a href="https://intelligence.businessinsider.com/mobile-payments-executive-summary-2012-6?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">Map out the winners and losers.</a></li>
</ul>
<a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MP5&amp;utm_content=link&amp;utm_campaign=BIIMobile">For full access to the report on Mobile Payments sign up for a free trial subscription today.</a>

MOBILE PAYMENTS: What's Taking So Long, And Who's Going To Win?  

<ul><li>In the first two days of IPO, payment solutions provider <keyword id="604304" type="General" weightage="20" keywordseo="ags-transact-technologies" source="Orion">AGS Transact Technologies</keyword> has been subscribed 1.49 times.</li><li>The IPO is entirely an offer for sale of ₹680 crore through the public issue.</li><li>Shares of the company are commanding a premium of ₹10 in the grey market, which has come down from ₹21 earlier.</li></ul>Today, January 21, is the last day to subscribe to AGS Transact Technologies, which is an integrated omni-channel payment solutions provider in India in terms of providing digital and cash-based solutions to banks and corporates, initial public offering (IPO). In the first two days of the subscription process, the IPO received a tepid response from investors as it was oversubscribed by 1.49 times. The IPO is a complete offer for sale (OFS) of ₹680 crore with a price band of ₹166-175 per share. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.52 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.19 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.18 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.49 times </td></tr></tbody><tbody></tbody></table>The company provides customised products and services comprising ATM and cash recycler machines (CRM) outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets. Grey market premium of the company’s shares have come down to ₹10 from ₹21 earlier. Some analysts have recommended avoiding the IPO because of increasing digital payments in the country that could have an adverse effect on AGS Transact’s business. “The company is one of India's leading omni-channel payment solution providers with a strong network. However, the government's focus on digital payments will further decrease the use and availability of cash can have an adverse effect on business activities,” said analysts at Swastika Invest while recommending a ‘avoid’ rating to the IPO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bajaj-auto-bajaj-auto-stock-bajaj-auto-profit-two-wheeler-makers-two-wheeler-sales/articleshow/89017250.cms">As tepid two wheeler sales hurt Bajaj Auto’s profitability, stock slides 4%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-green-jumped-45-in-2022-so-far-to-become-more-valuable-than-lt-maruti-suzuki-axis-bank/articleshow/89013318.cms">Adani Green Energy stock has jumped 45% this year to become more valuable than L&amp;T, Maruti Suzuki, and Axis Bank</a>

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