In Brief: Flipkart to retail Toys“R”Us in India; iMobile Pay scores over 2 mn users

In Brief: Flipkart to retail Toys“R”Us in India; iMobile Pay scores over 2 mn users
Photo Credit: Reuters
8 Jun, 2021

Flipkart Group’s wholesale entity in and omnichannel enablement platform Ace Turtle said on Tuesday that a joint venture between the two companies has secured licensing rights for Toys“R”Us (TRU) and Babies“R”Us (BRU) in India. The rights involve a strategic arrangement with WHP Global, the controlling shareholder of Toys“R”Us. 

Flipkart and Ace Turtle’s will enable consumers to the products buy online and ship from store/pick up from the store, among other services. In 2020, the toys and games category on Flipkart’s ecommerce platform has grown close to 100%, the companys said in a statement. 

Toys"R"Us and Babies"R"Us generate more than $2 billion in global retail sales annually through nearly 900 branded stores and ecommerce businesses in more than 25 countries. 

ICICI Bank’s iMobile Pay hits over 2 mn users

ICICI Bank said on Tuesday that over two million customers of other banks are now using the revamped version of its mobile banking app iMobile Pay. The milestone was achieved five months after making the app open to all, including customers of other banks. 

The opening up of the app enabled users of any bank to link their account to the app and start making payments and transactions digitally. It also offered them access to an entire range of ICICI Bank services including savings account, home loan, credit cards and personal loans, the bank said in a statement. 

“The bank has transformed the app and renamed it iMobile Pay five months ago to offer interoperability so that anyone, including customers of other banks, can experience the benefits of hassle-free payments and digital banking of ICICI Bank through this app. This was made possible by leveraging NPCI’s interoperable infrastructure,” Bijith Bhaskar, head digital channels and partnership, ICICI Bank said,  

The various features offered by the app include pay-to-contact, scan-to-pay, bill payments and check balance. The app has received responses from consumers in metro cities and leading state capitals including New Delhi, Bengaluru, Chennai, Hyderabad and Lucknow, Patna and Jaipur. 

Paytm expands rent payments feature

Paytm has extended its Rent Payments service to shop rentals, property deposit, token amount, brokerage and other related services. Users can pay their rent through Paytm UPI, credit and debit cards, and net banking, the company said in a statement. 

The platform is also offering users an assured cashback of up to Rs.10,000 for paying their rent through their credit card. In addition, new and existing users will also be able to earn rewards from the credit card issuing bank as they pay their rent on Paytm via credit cards. These rent payments can be made to the beneficiary's bank account or UPI address and paid through Paytm UPI, debit card and net banking.