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Flipkart is looking at adding content to its portal Major e-commerce and retail players, including Paytm, Future Group and Flipkart, are set to invest close to $100 million in procuring and incorporating entertainment content, in a bid to take on  Amazon  India. According to sources, Paytm, which recently announced a host of new features in ‘Inbox’, its in-app messaging service, including live TV, news, cricket, entertainment videos and games, is planning to invest close to $30 million in this sector. Kishore Biyani-led Future Group is planning to make significant investments in creating a separate entertainment vertical on the company’s various apps and has set aside close to $14.5 billion for on-boarding artificial intelligence and machine learning on its platform to support entertainment content. It is also in talks with various entertainment content providers as well as movie theatre chains to provide tickets online as well as offline. Article Source :...

A minority stake in BookMyShow to give Flipkart a play in the fast-growing online ticketing space and also an access to a high-spending loyal customer base Amid competition from deep-pocketed global players like Alibaba, India’s leading online ticketing platform BookMyShow is looking for a backing in its space from Flipkart, the country’s largest internet company. While  Flipkart BookMyShow Deal  has been one of the few profitable internet companies in India, with a profit of Rs 3.1 crore on a revenue of Rs 248 crore in the year that ended March 2016, competition from rivals like Paytm has caused sales growth to slow. To shield itself from cash-burning rivals, BookMyShow will sell a minority stake to Flipkart, a behemoth with a cash reserve of $4 billion. For the e-commerce major, a stake in BookMyShow will give it a play in the fast-growing online ticketing space and also an access to a high-spending loyal customer base. Also Read :  Latest Current ...

Inter-operability to help players increase business To make the use of digital cash more prevalent and convenient, a digital wallet user would soon be able to accept cash from the user of another   Ewallet , because of the Reserve Bank of India (RBI) tweaking its guidelines. Current Affairs News   : For example, a Paytm wallet user would soon be able to accept cash from a PhonePe wallet user. Opening up the strings of digital wallets, the RBI on Wednesday said it would issue revised directions by October 11 to allow “inter-operability” among prepaid payment instruments (PPIs). These include digital wallets, prepaid cash coupons and prepaid telephone top-up cards. PPIs are a substitute for paper currency. It is expected that PPIs can inter-operate within six months of the revised directions, the RBI said in its “Statement on Developmental and Regulatory Policies”. ALSO READ:   RBI pauses, revises growth forecast down sharply The RBI said the f...

Vijay Shekhar Sharma, the founder of digital wallet-turned-e-commerce firm Paytm, on Tuesday launched a scathing attack on Facebook’s campaign for its Free Basicsinternet access programme, calling for a ’ jihad ’ to save a free internet without any corporate agendas. Sharma said India’s digital independence is threatened by the world’s largest social network, tweeting, somewhat dramatically, “Oh my fellow Indians, either choose this and do a jihaad for independent internet later or pick net neutrality today.”  Facebook on Tuesday launched a missed call campaign in Indian newspapers asking users across India to support its Free Basics campaign – formerly known as the internet.org project – that allows subscribers not not to pay for data charges to telecom service providers. “I am surprised that we in this time and age might get our digital independence threatened. All for #NetNeutrality,” Sharma said on Twitter, adding “Open and out. Internet won’t be equal ...