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    Startup Street: How Nium benefits from Wirecard Forex India acquisition; Razorpay launches payment interface

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    Startup Street: How Nium benefits from Wirecard Forex India acquisition; Razorpay launches payment interface

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    Prajit Nanu, CEO, Nium sharing his views on their plans to acuire Wirecard Forex India said to win payment business in India, it has to be an online and offline strategy and Wirecard Forex has 22 branches across India, which is a big strength.

    Global payments platform Nium has announced that it has signed a definitive agreement to acquire Wirecard Forex India, a foreign currency exchange, prepaid card and remittance service provider. The acquisition not only gives Nium greater access to India’s burgeoning payments markets but also secures Wirecard's licences to carry out operations, which includes currency conversion, money transfer and prepaid card issuance.
    To know more about this acquisition and the future road map of Nium, CNBC-TV18 spoke with its co-founder and CEO, Prajit Nanu. Sharing the rationale for the acquisition, Nanu said Wirecard’s India asset was super interesting for multiple reasons.
    "We strongly believe that to win payment business in India, it has to be an online and offline strategy and Wirecard Forex had 22 branches across India, which was a big strength."
    Meanwhile, recurring automatic payments such as monthly subscription charges for platforms --Netflix and Amazon, as well as for monthly utility bills -- could be disrupted once the RBI’s guidelines come into effect from October.
    While these payments were earlier debited automatically through customers' cards, these will soon require an additional factor of authentication.
    Razorpay has announced that it has launched a new recurring payment interface along with Mastercard to help both banks and users in this process. To discuss this in detail, CNBC-TV18 spoke to Razorpay co-founder and CTO Shashank Kumar.
    For both interviews, watch the accompanying video
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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