Reliance Partners With Google, Facebook For Digital Payment Network Bid: Report
Digital payments in India could rise to $135.2 billion in 2023, according to an Assocham-PWC India study in 2019. Conglomerate Reliance Industries has partnered with Facebook Inc, Google and fintech player Infibeam to set up a national digital payment network, Economic Times newspaper reported on Saturday, citing unnamed sources. Last year, central bank invited companies to forge new umbrella entities (NUEs) to create a payments network that would rival the system operated by the National Payments Council of India (NPCI), as it seeks to reduce concentration risks in the space. …
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