Digital financial services platform Mobikwik saw its revenue increase 93 percent to Rs 86 crore (approx $12.3 million) in the fiscal year 2018 as compared to Rs 44 crore it had posted in the last fiscal.
Foreign payment firms could keep copies of customer data in India while retaining offshore storage operations, the government said, as a way to resolve a row with MasterCard, Visa and American Express.
Digital financial services platform MobiKwik is looking to stay in India’s digital payments race currently dominated by Paytm and looking to raise funds from investors to scale up its business operations.
China is pressing foreign payment card companies to form local joint ventures for onshore operations, said three people familiar with the matter, a move that would counter Beijing's pledge to the US on market access.
Business leaders attending a U.S.-Mexico CEO conference said on Wednesday that no NAFTA would be better than a bad deal, as industry braces for the end of a treaty that drives $1 trillion in annual trade.