Retail Newsletter - November 21 to 25, 2016

India Infoline News Service | Mumbai | November 25, 2016 15:48 IST

This week, FreeCharge partners with IRCTC, Oxigen Services starts mobile Micro ATM drive. IIFL presents a weekly snapshot of all the major happenings in the Retail industry.

Top News
 
Indian m-wallet market to reach Rs 30K crore by FY22
With a view to win customers’ trust, companies operating in the mobile-wallet sector should take measures like providing effective, completely secure, private and reliable services, 3-D or OTP (one time password) security options, data back-up system and others to spread awareness among people, suggested an Assocham-RNCOS joint study. Read More
 
Withdraw cash at Big Bazaar & fbb Stores; customers can withdraw upto Rs 2000
Big Bazaar has announced starting November 24, Thursday, all its stores, along with all fbb stores will be enabled to allow customers to withdraw upto Rs 2000 from their own bank accounts, using their Debit/ATM cards. This facility is now available in 258 Big Bazaar and fbb stores in over 115 cities and towns across the country.  Read More
 
News Infocus
 
Demonetization's impact on Indian Retail
The Government’s recent demonetization move has definitely impacted the retail Industry in the short term due to lack of liquidity in the economy. As the Indian retail segment generates a lot of cash transactions, there might be reduction in the sales over the next 1-2 quarters. Read More
 
India’s digital commerce players need to find a sustainable growth model: Gartner
Digital commerce sales in India have remained flat, so digital commerce companies need to identify a sustainable growth model that can be achieved in a defined timeframe, according to Gartner, Inc. One of the challenges was that leading marketplaces cut back on promotions and discounts after the regulation banning price competition came out in March 2016. Read More
 
FreeCharge welcomes RBI’s move by expanding the wallet limit to 20,000
FreeCharge, India’s fastest growing digital payments platform, acted swiftly and increased the limits for all users to Rs 20,000 as allowed by RBI. Additionally, merchants can also now transfer up to Rs 50,000 every month using FreeCharge. Given the fast increasing demand for digital payments from both users and merchants, FreeCharge has already updated the wallet to match these new guidelines. Read More
 
Domestic Market
 
Aditya Birla Nuvo resumes operation at Linen Yarn business unit in West Bengal
Aditya Birla Nuvo Ltd informed BSE that from the morning shift of November 23, the operations in the aforesaid linen yarn plant have been restored and all plants of Jaya Shree Textiles Division at Rishra, Hooghly, West Bengal are working normal. Read More
 
Aditya Birla Fashion & Retail Q2 FY17 net profit up 7% YoY
Aditya Birla Fashion and Retail Ltd reported a 7% increase in net profit at Rs 65 crore for the quarter ended September 30. The company's net profit in the corresponding quarter of the previous fiscal year was Rs 61 crore. Read More
 
FreeCharge partners with IRCTC to provide digital payments for ticket bookings
FreeCharge, India’s fastest growing digital payments platform announced partnership with the Indian Railway Catering and Tourism Corporation (IRCTC), a subsidiary of the Indian Railways and India’s largest travel website to provide digital payments for ticket bookings. The partnership will further strengthen the payment process at IRCTC and offer a fast and convenient digital payments experience to its customers through the FreeCharge wallet both during normal and tatkal hours. Read More

PC Jeweller Q2 FY17 PAT up 16% at Rs 107 crore
The company has posted a net profit of Rs 107 crore for the quarter ended September 30, 2016 as compared to Rs 92 crore for the quarter ended September 30, 2015.Total Income has increased from Rs 1,674 crore for the quarter ended September 30, 2015 to Rs 2,225 crore for the quarter ended September 30, 2016. Read More

PAYBACK partners with Voylla, Rare Rabbit and Wandertrails
PAYBACK, India's largest multi-brand loyalty program has partnered with 3 new e-commerce start-ups - Voylla, Rare Rabbit and Wandertrails to expand into emerging sectors like fashion jewelry, men's premium clothing & and experiential travel, which have been witnessing growth in recent times. This move is aimed to strengthen the PAYBACK Partner network with diversified service offerings and further provide more opportunities to PAYBACK Members earn and redeem across a larger coalition. Read More

Crownit selects MatchMove Wallet OS to offer prepaid payment service
Crownit, leading Indian merchant discovery and privileges platform will be integrating Singapore-based finance technology firm MatchMove’s Wallet OSto offer a prepaid closed looped payment card into the Crownit app. The integration will greatly benefit app users by giving them the ability to top up, check balances and make payments using the MatchMove-powered physical prepaid card with offline merchants. Read More

NumberMall ties up with TechProcess’s Paynimo to enable seamless online payments
Paynimo, The Next Gen Digital Payment Platform by Techprocess announces its tie-up with NumberMall, a rural e-commerce company based out of Hyderabad. It was started with a vision to be India’s largest rural retail tech company by serving 70% of India’s rural population needs by tech-enabling the 1.5 million kirana shops to reach 833 million rural consumers in India’s 650,000 villages. Read More
 
Ola launches ‘Ola Play’ a connected car platform for ride-sharing
In a global first, Ola, India’s most popular mobile app for transportation has launched ‘Ola Play’, a connected car platform for ride sharing that will transform the in-car experience for users on the go like never before. Ola Play is powered by proprietary in-car and cloud technologies from Ola, by bringing advance car controls, choice of personalized content and a fully connected interactive experience for the user. The platform hardware is a first of its kind solution built by Ola in partnership with Qualcomm. With this, Ola raises the bar globally, on a connected in-car experience. Read More

Oxigen Services starts mobile Micro ATM drive
India’s largest payment solution provider, Oxigen Services announced Mobile Micro ATM drive to help customers deposit the discontinued Rs 500 and Rs 1,000 notes in their respective bank accounts. Read More

 

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