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Sony Joy will be the vice-president of Truecaller Pay   Technology News  : Phone number search engine Truecaller on Wednesday announced a strategic investment into the payments space in India by acquiring Chillr, the country’s first multi-bank payments app. Truecaller co-founder and chief strategy officer Nami Zarringhalam said the founders of Chillr — Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran — will join Truecaller. Sony Joywill be the vice-president of Truecaller Pay. Zarringhalam said the company intended to leverage its full reach of over 150 million users in India as well as its 300-plus existing partnerships in the country. “By acquiring Chillr, we are reaffirming our commitment to mobile payments and strengthening our plans to raise its adoption amongst our user base,” Zarringhalam said. He, however, did not disclose the amount paid and the terms and conditions for acquiring the Chillr, which was launched in 2014. Tru...

BHIM is biometric version of UPI, USSD and expected to minimise role of plastic cards, PoS machines Prime Minister   Narendra Modi   on Friday launched an Aadhaar-based mobile payment application called BHIM (Bharat Interface for Money). On day 50 of the window provided by the government to citizens to exchange or deposit old currency notes of Rs 500 and Rs 1,000 denominations, the Prime Minister at a 'Digi Dhan Mela' event in the capital, asked citizens to make at least five digital transactions, so as to understand the concept behind e-payments, and then use it extensively. "Download it on a smartphone or on a feature phone. It is not necessary to have the internet for this app. In the next two weeks, one more work is being done, which will increase the power of   BHIM   so much that you would be able to withdraw money even with your fingerprints," he said. BHIM is a biometric and rebranded version of UPI (Unified Payment Interface) and USSD (Unstructur...

SBI launches card-less payment solution for offline transactions     State Bank of India, the country's largest public sector bank, has launched a mobile payment solution that will enable customers to make digital payments at offline stores by scanning a QR (quick response) code on their smartphones. The service has been launched in Bengaluru with a sizable number of merchants and will soon expand into other cities. Dubbed   mVisa , the solution is a card-less way for customers to pay for goods at offline stores, and will be available to all SBI credit card, debit card and net banking users. The solution which is bank agnostic will be accessible to customers through the company's SBI Anywhere app. "This cost effective digital offering will not only provide our large base of consumers with an easy, convenient and secure payment product but will also facilitate small merchants with any-time payment, thereby changing the way businesses transact and customers pay,...