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Mobile wallet startup MobiKwik lands $40M investment from Net1

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MobiKwik, a mobile wallet startup from India

MobiKwik, a mobile wallet startup from India

SAN FRANCISCO (Diya TV) — India-based mobile wallet startup MobiKwik have received a $40 million strategic investment from Net1, a mobile payment firm that specializes in services for those who do not have bank accounts. Net1 are worth just under $500 million and have been listed on the NASDAQ stock exchange since 2005.

As part of the agreement, the South African-based Net1, which is also an active company on the Johannesburg stock exchange, will integrate the company’s virtual card technology into MobiKwik’s wallet app to help its 100,000 merchant partners access a wider body of payments. The program works by creating a virtual card using a mobile phone as the identity in order to process transactions like a physical credit card.

“Virtual cards are used like traditional plastic credit or debit cards, except that as soon as the transaction is authorized, the generated card number expires immediately. While it has been focused primarily on card not present transactions for internet payments in our initial deployments, we have the ability to customize the software as industry acceptance increases to incorporate new trends such as presentation through NFC or Quick Response, or QR, Codes,” Net1 explains on its website.

Net1 said they are excited about the partnership with MobiKwik, a company which itself boasts a user base of 32 million. A strategic move in order to grow Net1’s presence in India, a country where smartphone ownership is on the rise among its population base of one billion-plus.

“Our strategic investment in MobiKwik provides us with meaningful participation in one of the largest and fastest growing digital payment markets globally,” Net1 chairman and CEO Serge Belamant said in a statement.

“Over the next three years, MobiKwik has targeted having 150 million users and 500,000 merchants, and the introduction of our various technologies is expected to enhance their value proposition and differentiation to users, online and offline merchants, increase acceptance, and accelerate growth,” he added.

MobiKwik is already backed by such companies as Japan’s GMO, Mediatek, Sequoia, Cisco and American Express. The company have raised over $120 million in funding to date, including its last round of Series B funding, a $50 million investment received last May.

Business

Harvard to host 17th annual India Conference this February

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CAMBRIDGE, Mass. (Diya TV) — For the 17th year in a row, the graduate students at Harvard University will host an India Conference. It will take place during the weekend of February 15-16, 2020. Two days of exciting discussions through panels, mixers and networking will fill the halls of the Harvard Business School and Kennedy School of Government.

The theme for this year’s conference is Foresight 20/20 – a look at what to expect from India in 2020 and beyond. As one of the largest student led conferences in the USA, the Harvard India conference attracts the biggest headliners from every field – from politics, business, entertainment & the arts. And this year is no different.

India Conference
India Conference at Harvard

With more than 100 speakers and 1000 attendees, the conference promises to have something for everyone. This year’s biggest draw from the entertainment genre is veteran Bollywood actor and self proclaimed ambassador to India, Anupam Kher. Kher has a long standing list of accolades within the film industry. In addition to his acting roles, he has been a producer, director and teacher at his own acting school. Most recently he played the role of Dr. Vijay Kapur on NBC’s primetime drama ‘New Amsterdam‘.

Some other notable speakers this year include founder of the India Today Group, Aroon Purie, Indian Olympic athelete Dutee Chand, comedian and actor, Vir Das, partner at Softbanks’ Vision Fund Lydia Jett & politician and India’s ruling party (BJP)’s sherpa to the G20, Suresh Prabhu.

The harsh winter in Harvard doesn’t seem slow down or dull these brilliant minds in any way. The India Conference at Harvard continues to retain its standing as the conference of choice for deliberating issues ranging from technology, media, politics and eduction to creating solutions for India’s path towards global leadership. The event features brainstorming sessions and sincere discussions on the very real and large scale problems that are uniquely Indian.

Diya TV is a media sponsor to the event and will be on-site covering conference. To receive a 20% discount use code RDAY20 here and to know more about the conference or speakers, head to the IndiaConference.com

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Indian Ambassador, Shringla speaks to U.S. Congress about Kashmir

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AMB. Shringla speaks to congress about Kashmir | Diya TV News

WASHINGTON (Diya TV)  — Indian Ambassador to the U.S. Harsh Shringla met with members of Congress at a private roundtable briefing, hosted by Southern California Congressman Brad Sherman. Sherman, who has been a supporter of India, took to Twitter recently to share his concerns about Kashmir and said serious questions about Kashmir were asked at the briefing.

President Trump is being urged to fix the H1-B visa process and do away with country-specific limits, with the latest effort for reform being spearheaded by 60 U.S. business school deans and CEO’s.

In an earthquake, seconds matter. So on the anniversary of the deadly 1989 Loma Prieta earthquake that rocked Northern California, state officials announced the launch of America’s first statewide earthquake early warning system.

Tabla Maestro Zakir Hussain will be coming to Boston next month to perform at the Berklee India Exchange, where he will also be conferred with an honorary doctorate by the esteemed music school. A Zakir Hussain Scholarship at Berklee is also being established.

And we have incredible video of three kids from India rescuing their dog from a snake that’s equal parts courageous and nuts.

Ravi Kapur contributed to this report.

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Federal Court rules Trump must turn over tax returns | Diya TV News

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Trump Tax Returns

NEW YORK (Diya TV) — A federal judge ruled President Trump must turn over eight years of his personal and corporate tax returns to Manhattan prosecutors, striking down the President’s argument that a sitting president cannot be criminally investigated. The ruling was quickly appealed and this case could end up in the Supreme Court to answer the constitutional question of whether presidents can be charged with a crime.

Meanwhile, the President celebrated a victory by FCC Chairman Ajit Pai, as a federal appellate court upheld most of the FCC’s repeal of net neutrality. It also ruled the FCC cannot preempt state net neutrality laws, meaning the rules of the road in states like California remain in place.

The U.S. House Foreign Affairs Committee announced their Asia-Pacific and Non-Proliferation Subcommittee will be holding a hearing asking State Department officials and human rights activists to chime in on Human Rights in Kashmir, the Tamils of Sri Lanka, Muslims in Assam and the human rights situation in Pakistan, which includes the Sindh Province.

Lockheed Martin announced they will build F-16 wings exclusively in India, helping in integrating Indian industry into the $165 billion fighter aircraft market.

Ravi Kapur contributed to this report.

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