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visa rbi card business payment: Visa, Mastercard stop business payments via cards post RBI instructions

Industry sources indicate that flow of money through the card route towards non-KYC-ed merchants is something that has irked the regulator.

Kozhikode , Kerala , India , Lucknow , Uttar-pradesh , Ajay-adiseshann , Indian-school-of-business , Programme-in-fintech , Mastercard , Offering-college , Visa , Reserve-bank

Now, Visa, Mastercard stop business payments via commercial cards after RBI directions

India Business News: The Reserve Bank of India (RBI) has directed card networks like Visa and Mastercard to suspend card-based commercial payments made by corporations and

India , Ajay-adiseshann , Visa , Mastercard , Reserve-bank , Real-time-gross-settlements , Business-news , Reserve-bank-of-india , Commercial-cards , Card-payments ,

card networks: Card networks seek clarity from RBI on compliance lapses in card-based B2B payments

This comes on the back of a recent instruction from the RBI asking these companies to halt usage of these payment instruments for business payments made to vendors, suppliers and other such entities. Following this directive, card networks have informed payment companies to stop these services to their clients.

India , Lucknow , Uttar-pradesh , Ajay-adiseshann , Mastercard , Indian-school-of-business , Offering-college , Visa , Paytm-paytments-bank , Programme-in-fintech , Reserve-bank , Tech-prowess

Fintech firm PayMate plans to raise pre-IPO funding round, to turn Ebitda positive by Q3FY24

The firm planned to raise a fresh issue of Rs 1,125 crore and an offer of sale of up to Rs 375 crore from its existing shareholders and promoters. and through pre-IPO funding it planning to raise not more than $30 million as per regulations.

India , Mumbai , Maharashtra , Ajay-adiseshann , Mayfield-fund , Securities-exchange-board-of-india , Cooperation-council-for-the-arab-states , Visa , Zaitech-technology , Securities-exchange-board , Payment-aggregator , Reserve-bank

IPO-Bound PayMate's FY22 Net Loss Jumps Over 2X YoY To INR 57.7 Cr

A sharp rise in expenses, led by increase in cost of services, hurt PayMate's bottom line in FY22. Its net loss stood at INR 57.7 Cr in FY22

India , Ajay-adiseshann , Exchange-board , Reserve-bank ,

B2B Fintech Startup PayMate Likely To Refile DRHP Within Next 90 Days

The fresh development has come almost a year after PayMate had first filed DRHP with an IPO offer of INR 1,500 Cr with SEBI

India , Mumbai , Maharashtra , Ajay-adiseshann , Draft-herring-red-prospectus , Reserve-bank , System-audit-report ,

PayMate To Raise INR 1,500 Cr Via IPO, Files DRHP With SEBI

PayMate has filed its DRHP with SEBI for an IPO worth INR 1,500 Cr, including a fresh issue of INR 1,125 Cr and an OFS of INR 375 Cr.

Mumbai , Maharashtra , India , Uma-vishvanathan , Vishvanathan-subramanian , Dhruv-pratap-singh , Probir-kumar-roy , Ajay-adiseshann , Fino-payments-bank , Wealth-holdings , India-fund , Exchange-board

Exclusive: Ahead Of IPO, PayMate Converts Into Public Company

The shareholders of PayMate approved the conversion of the company from PayMate India Private Limited to PayMate India Limited ahead of filing DRHP

Japan , Mumbai , Maharashtra , India , United-kingdom , Japanese , Kevin-phalen , Rakesh-khanna , Ajay-adiseshann , Paymate-india-private-limited-to , Visa , Paymate-india-private-limited

IPO-Bound PayMate Ropes In Kevin Phalen As Independent Director

Kevin Phalen who was working as head of global commercial business at Visa will now help PayMate to expand globally

United-kingdom , Kevin-phalen , Sugata-gupta , Probir-roy , Kalpana-moparia , Anisha-motwani , Romesh-sobti , Ajay-adiseshann , Kaushik-motwani , Ullas-kasaragod-kamath , Visa , Pine-labs

PayMate launches into The Kingdom of Saudi Arabia; appoints Kevin Phalen as an Independent Director.

The users will also have access to the platform’s custom approval workflows, APIs, and integrations with existing legacy ERPs for continuity in operations.

Saudi-arabia , Kingdom-of-saudi-arabia , Kevin-phalen , Ajay-adiseshann , Citibank , Financial-institution , Paymate-india-private , Visa , Visa-inc , Accounts-payables , Accounts-receivables , Managing-director