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Ecommerce space heats up; and other top tech, startup stories this week
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. It has been a packed week for ecommerce and quick commerce news. The previous weekend began with Zepto scooping up $665 million in funding, at more than double its last valuation in 2023, which is a pivotal moment for the sector.
Flipkart launches beta version of its new fintech venture, Super.Money
Ecommerce major Flipkart launched a beta version of their financial app, Super .Money, on the Google Play Store. This app aims to be a one-stop shop for digital financial needs, offering features like payments, credit, and deposits.
Paytm Bank slows down in Fastag lane; q-comm in soup over food safety
Happy Friday! Banks are gaining ground in the toll payments space as Paytm Payments Bank’s market share continues to plummet. This and more in today’s Morning Dispatch.
Adani One launches cobranded credit cards with ICICI Bank, enters financial services
Adani One, the super app by Adani group, launches cobranded credit card with ICICI Bank. The card offers rewards for spends within Adani ecosystem.
Rewards credit cards with most value-back potential: SBI Card, HDFC Bank, Axis Bank, IDFC First Bank, American Express
Listed below are the best rewards credit cards in India, chosen basis their reward earning rate, redemption value and overall value-back potential across multiple spending categories.
RuPay credit cards of HDFC Bank, Axis Bank, IDFC FIRST Bank, SBI Card: Cashback, annual fee, discounts
The RuPay credit card was launched in 2017 and these enable secured payments for purchasing goods and services at merchant locations in India as well as abroad. Given below are the top credit cards available on the Rupay network chosen basis the overall value back they offer in their respective spending category.
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NPCI pushing new UPI players to offer incentives to expand market share
NPCI encourages new UPI apps to invest for user growth. Uncertainty looms over market share deadline extensions, hindering significant capital investment by smaller players like Cred amid concerns about reducing market leaders' share.
New-age consumer brands pulling in funds, tech no bar; and other top stories this week
At the peak of the funding winter last year, an investor told me that the pace of investment deals will continue to be slow, but the nature of companies grabbing new cash will be different. The next obvious question was: what kind of companies? Consumer brands, the person said.
Ather picks HSBC, JPMorgan, Nomura, Indian banks for IPO, sources say
Indian electric-scooter maker Ather Energy Pvt has selected banks including HSBC, Nomura, and JPMorgan for its IPO. The company, founded by Tarun Mehta and Swapnil Jain, may raise up to $400 million. The IPO could take place in the second half of the year.
Top banks' credit cards with low annual fee
Credit cards with low annual fees: Listed below are the top banks' low annual fee credit cards which are chosen basis the overall value-back they offer in the form of reward points, cashback, discount, etc. across different spending categories.
Flipkart launches UPI service in partnership with Axis Bank
Flipkart UPI will only be available for Android users as of now. Customers can register for UPI with @fkaxis handle and do fund transfers and checkout payments using the Flipkart app.
Flipkart CEO confirms top-deck exits; Paytm stock on upswing
Flipkart group CEO Kalyan Krishnamurthy on Tuesday informed staff about senior-level exits in the ecommerce major, confirming ET’s scoop. More on this in today’s ETtech Top 5.
Cobranding with Tata Neu, Swiggy widens HDFC Bank cards’ reach
HDFC Bank has distributed a million-plus cards with Tata Group’s super app Tata Neu and around 120,000 with foodtech major Swiggy, two people in the know told ET.
2023 Year in Review: Meet the executives who donned the founder hat
Along with executive search firm Longhouse Consulting, ET has compiled a list of high-profile executives who launched their ventures this year. Former Flipkart senior vice president Prakash Sikaria and ex-Swiggy CTO Dale Vaz are some of them.
Credit card late payment charges: Check how much you have to pay for top banks shopping credit cards
Here is a look at the finance charges and late payment fee for the top banks' shopping credit cards as on December 12, 2023.
PhonePe is set to launch consumer lending by January 2024
To begin with, the Walmart backed company will work as a distributor for personal loans, as it slowly builds up credit underwriting heft. The fintech is in the final stages of integration with five lenders.
7 credit cards for best cashback deals on online, offline shopping this Diwali
When you buy something using your cashback credit card, you get a percentage of the amount it costs as a form of cashback. Most credit card providers credit the amount you earn into your account which is reflected in your credit card statement every month. Here is a curated list of the 7 cashback credit card options that will give you heavy cashback or rewards while shopping online or offline.
Over 1.2 lakh job openings recorded in August, September across key Indian cities: Report
"The increase in women applicants indicates a growing demand for women professionals across industries, as companies tend to experience heightened activity during the festive season, especially in sectors like e-commerce, retail and hospitality," the report by Apna.co said. The festive season saw active participation from leading companies which offered attractive incentives to secure top talent and boosted hiring for various roles like sales, marketing, finance, HR and business development.
Flipkart Big Billion Days vs Amazon Great Indian Festival: Sale discounts, card deals, and other details
Amazon had initially announced October 10 as the starting date for its Great Indian Festival, but has now changed it to align with Flipkart’s Big Billion Days.
When is Flipkart Big Billion Days 2023 sale starting? What are discount offers? Here are details
The Flipkart Big Billion Days 2023 sale will begin on October 8 and run for a week, with Flipkart Plus members getting a 24-hour head start. Discounts of up to 90% on fashion items and up to 80% on beauty, home decor, and sports products are expected. Special discounts and cashback offers will be available for customers using credit cards.
Blaupunkt launches two more TV models ahead of festive season
Blaupunkt has partnered with Flipkart to launch new televisions, including a 43-inch QLED and a 55-inch 4K Google TV. The TVs start at ₹28,999 ($390), with the Google TV model priced at ₹34,999 ($472). The company has seen a 300% increase in sales of its 55 and 65-inch TVs in the past year.
How to use shopping specific credit cards in the coming festive season?
"Credit cards are always misunderstood. A lot of people understand that if there is a card in the pocket that they can just go and use the limits. But one thing which I will say with caution and I think I want everybody to think about is that it is a payment instrument if used in discipline. It offers a great set of benefits."
HDFC Bank Swiggy Credit Card offers 10% cashback, higher than most cashback credit cards; is it a good deal?
HDFC Bank has joined hands with Swiggy, one of the most popular food and grocery delivery platforms in the country, to launch a co-branded credit card — the Swiggy HDFC Bank Credit Card. When compared with the two most popular platform-specific co-branded credit cards — Flipkart Axis Bank Credit Card and Amazon Pay ICICI Credit Card — the Swiggy HDFC Bank Credit Card looks quite attractive. Is it a good deal?
Beyond Snack raises $3.5 million in funding from Nabard-backed Nabventures
Kerala-based banana chips brand Beyond Snack has raised $3.5 million in a funding round led by agriculture and food focussed early stage fund Nabventures to accelerate its expansion.
Swiggy launches co-branded card with HDFC Bank
Swiggy’s co-branded credit card will be hosted on Mastercard’s payment network.
Domestic banks lure techies from top tech companies
Amazon, Twitter, Apple, Ola, Flipkart, Oracle, JP Morgan, Goldman Sachs, among others, are some of the favourite hunting grounds for talent.
Nothing Phone (2) with enhanced features hits Flipkart shelves in India; here's everything you need to know about it
The Nothing Phone (2) boasts a stunning 6.7-inch FHD+ LTPO AMOLED screen, providing users with an immersive multimedia experience. To complement the display, the smartphone comes equipped with dual stereo speakers, ensuring top-notch audio quality. Despite its feature-packed design, the device maintains a slim profile, weighing just 201g and measuring 8.6mm in thickness.
Credit card rule change: Axis Bank cuts cashback, rewards on Flipkart Axis Bank credit card from this date
Starting from August 12, 2023 the Axis Bank has reduced select cashback and reward points on Flipkart Axis Bank credit cards. Here is all you need to know about the changes on the Flipkart Axis Bank credit card.
Flipkart to distribute Axis Bank personal loans amid RBI concerns on unsecured lending
The announcement comes amid reports of RBI's concerns on the high growth in the more riskier unsecured lending segment like personal loans and credit cards.
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