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Razorpay News
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Recent data from the National Cybercrime Reporting Portal revealed a sharp increase in digital fraud incidents across India, with over 7,000 complaints reported daily (between January and April 2024).
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Harshil Mathur and Shashank Kumar, co-founders of Razorpay, have earned their place as the youngest Indian billionaires according to the Hurun Rich List 2024. Their journey was anything but smooth—Harshil faced over 100 rejections from investors before Razorpay became a success.
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In 2023 transactions on the UPI platform surpassed 100 billion marking a 60% increase from the previous year's 74 billion.
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With RuPay credit cards being enabled on UPI, Razorpay merchants can begin accepting credit card payments on UPI, with minimal changes to their existing setup.
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Paytm dismissed reports that said its bank accounts were frozen after recent raids by the Enforcement Directorate (ED).
ED carried out search operations at six premises in Bengaluru concerning an investigation of what it termed a Chinese loan app case.
The raids were conducted under provisions of the Prevention of Money Laundering Act (PMLA), 2002.
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One97 Communication denies any link with merchants under ED scanner.
Paytm said that none of the funds frozen by the Enforcement Directorate (ED) belongs to it .
ED conducted raids Razorpay, Paytm, and Cashfree premises on Saturday.
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ED raids at six premises of online payment gateways such as Razorpay, Paytm, etc in Bengaluru.
It has seized Rs 17-crore worth funds kept in "merchant IDs and bank accounts of these Chinese persons-controlled entities".
Razorpay and Cashfree said they were cooperating with the federal agency while Paytm declined to comment.
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ED raids at six premises of online payment gateways such as Razorpay, Paytm, etc in Bengaluru.
It has seized Rs 17-crore worth funds kept in "merchant IDs and bank accounts of these Chinese persons-controlled entities".
Razorpay and Cashfree said they were cooperating with the federal agency while Paytm declined to comment.
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Nothing's mission is to remove barriers between people and technology to create a seamless digital future.
The London-based company also counts Indian entrepreneur Kunal Shah among its investors.
The company will release its first smart devices in the first half of this year
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