A week after ecommerce firm Amazon sent a legal notice challenging Future Group’s deal with Reliance Retail, the Kishore Biyani-led conglomerate appears to be preparing for a legal confrontation. Multiple people familiar with the group’s strategy told The Economic Times they would argue that the deal with Reliance was not party to Amazon’s case. Specifically, the report said, the agreement with Reliance is for the sale of listed Future-owned entities such as Future Retail and Future Lifestyle, while Amazon’s notice is to Future Coupons, an unlisted promoter entity, and thus not included in the deal.
BharatPe elevates Dhruv Bahl as COO
Homegrown merchant payment network provider BharatPe has elevated Dhruv Dhanraj Bahl from the head of operations to the position of COO. Bahl, an INSEAD alumnus with extensive domain experience, will take up the role with immediate effect to lead operations across customer support and deployments of QR, swipe and cards, KYC, loan disbursals and lead generation, a statement said. He will also help build the distributor-to-retailer lending product for BharatPe, it said.
JPMorgan Chase to use Infibeam payments solution
Fintech company Infibeam Avenues said in a regulatory filing that it has entered into a definitive agreement with JPMorgan Chase Bank to offer the bank its CCAvenue payment gateway services. The bank, it said, would use the product to process transactions of its enterprise clients.
PhonePe offers car and bike insurance
Flipkart-owned digital payments platform PhonePe said it has launched bike and car insurance services. The products have been launched in partnership with Bajaj Allianz General Insurance, a statement said, adding that its 230 million registered users will be able to get their vehicles insured in less than two minutes and claim settlement within 20 minutes.
EarlySalary launches card to offer instant credit
EarlySalary, a mobile platform that offers loans to salaried individuals, said it has launched a Rupay-powered digital salary card to expand its product portfolio. The zero-touch card, which can be activated with the EarlySalary app, will provide instant credit to salaried professionals in India, a statement said.
GUVI develops gamified coding platform HackerKid
Chennai-based edtech startup GUVI said it has developed HackerKid, a gamified platform to help children learn the basics of coding. The platform developed by the IIT-Madras incubated startup uses a game-based environment to introduce block-based programming to kids and provides virtual challenges to help them practice the lessons, a statement said.