Latest news with #VikasBansal
Cision Canada
06-05-2025
- Business
- Cision Canada
GameChange Solar strengthens regional position across MENA and Central Asia with a 3.6 GW portfolio
DUBAI, UAE, May 6, 2025 /CNW/ -- GameChange Solar, a leading global supplier of solar tracker and fixed-tilt racking technology, today announced that it has surpassed 3.6 GW of tracker projects (installed and under deployment) across Middle East & North Africa (MENA) and Central Asia. This portfolio spans key markets including Egypt (3 GW), and Uzbekistan (600 MW), with projects located in challenging environments such as desert terrains, high-wind zones, and remote, logistically complex sites. GameChange Solar's Genius Tracker ™ system, designed for speed, wind resilience, and terrain adaptability, has delivered consistently across these demanding conditions. The company is also actively expanding its presence in the Middle East, with a growing pipeline in Saudi Arabia and the United Arab Emirates – two markets that form a core part of its regional strategy. "Our presence across MENA and Central Asia is shaped by long-term partnerships and a clear understanding of what it takes to deliver infrastructure at scale in this region. Every project comes with its own complexity, but the fundamentals remain the same: reliability, responsiveness, and alignment with our customers' long-term goals. That is what we've built our approach on, and that is what will continue to guide us as we grow," said Vikas Bansal, President – International at GameChange Solar. For more information about GameChange Solar and its solar tracking solutions, visit About GameChange Solar GameChange is the third largest global provider of solar tracker solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. We have delivered over 43 GW of solar tracker and fixed tilt systems that combine fast installation, bankable quality, and unbeatable value through superior engineering, innovative design, and high-volume manufacturing. Our products enable solar panels at power plants to follow the sun's movement across the sky and optimize plant performance while protecting the array from damaging weather conditions. Media Contact [email protected]
Yahoo
25-04-2025
- Business
- Yahoo
Amazon infuses $40m into Indian payments arm
Ecommerce entity Amazon has invested Rs 3.5bn ($40m) into its digital payments arm, Amazon Pay India, through a rights issue, reported The Economic Times. The investment involved the allotment of 35 million equity shares to its parent entities, Amazon Corporate Holdings and The transaction details were disclosed in regulatory filings with the Registrar of Companies (RoC). This capital injection is the latest in a series of investments, following a Rs 3000m ($35.14m) infusion in November 2024 and a Rs 6000m ($70.3m) investment in June 2024, as reported by ET. Amazon Pay holds the eighth position in India's Unified Payments Interface (UPI) transaction volume rankings as of March 2025, according to data from the National Payments Corporation of India (NPCI). Amazon Pay has a market share of about 0.6%, the report said. In February 2024, Amazon Pay secured a payment aggregator (PA) licence from the Reserve Bank of India, following its earlier approval for a prepaid payments instrument (PPI) licence. Amazon Pay India has also engaged in partnerships with entities such as BookMyShow, MakeMyTrip, RedBus, IRCTC, and Kuvera, extending its reach into movie and travel ticketing and wealth management services. For the financial year ending in March 2024, the company reported a 9.22% rise in operating revenue to Rs 22.86bn, up from Rs 20.93bn in the previous year, the news publication added. It further highlighted a reduction of losses by 39%, down to Rs 9.11bn from Rs 14.99bn. Amazon Pay India CEO Vikas Bansal has previously stated to ET the importance of implementing MDR for UPI transactions is crucial for smaller players to receive a fair share of the value they contribute to the payment ecosystem. "Amazon infuses $40m into Indian payments arm " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Time of India
25-04-2025
- Business
- Time of India
Amazon infuses Rs 350 crore into India payments business amid growing competition
US ecommerce giant Amazon has infused Rs 350 crore into Amazon Pay India , as the fintech arm looks to step up its game against leading payment companies such as PhonePe and Google Pay. Amazon Pay India has allotted 3.5 crore equity shares to its parent entities Amazon Corporate Holdings Private Limited and through a rights issue, regulatory filings with the Registrar of Companies (RoC) showed. ET has reached out to Amazon India seeking comments. This investment follows a Rs 300 crore fundraising in November 2024 and a Rs 600 crore infusion in June 2024, reported by ET. The move comes as rival Flipkart's fintech app, is actively seeking fresh funding. On January 13, ET reported that Flipkart is in advanced talks to lead a $35-40 million funding round for which could potentially include external investors for the first time. Data from the National Payments Corporation of India (NPCI) shows that Amazon Pay was the eighth-largest Unified Payments Interface (UPI) player by transaction volume in March 2025, down from the sixth position a year earlier. It currently trails PhonePe, Google Pay, Paytm, Navi, Axis Bank, and Cred. According to the latest available NPCI data, PhonePe and Google Pay dominate the UPI space with a combined market share of nearly 85 per cent, while Amazon Pay holds a market share of approximately 0.6 per cent. In February 2024, Amazon Pay received a payment aggregator (PA) licence from regulator Reserve Bank of India. The licence bolsters Amazon's merchant payments business, providing a major growth opportunity given its strong online shopping presence in India. The PA licence followed the company's earlier approval for a prepaid payments instrument (PPI) or wallet licence. The company competes with other platforms to offer a variety of services, including bill payments, UPI transactions , and insurance premium payments. It has also formed strategic partnerships with companies such as BookMyShow, MakeMyTrip, RedBus, IRCTC, and Kuvera, expanding its services to movie and travel ticketing and wealth management. For the financial year ended March 2024, Amazon Pay India reported a 9.22 per cent increase in operating revenue to Rs 2,286 crore (from Rs 2,093 crore in FY23). The company also reduced its losses by 39 per cent, bringing them down to Rs 911 crore from Rs 1,499 crore the previous year. In a significant development, last month, the Payments Council of India (PCI), an industry body representing digital payments companies, wrote to the Prime Minister's Office (PMO) requesting the reintroduction of a merchant discount rate (MDR) on RuPay debit cards and UPI transactions, but only for large merchants. In a previous conversation with ET, Vikas Bansal, CEO of Amazon Pay India, emphasised that implementing MDR for UPI transactions is crucial for smaller players to receive a fair share of the value they contribute to the payment ecosystem.
Time of India
25-04-2025
- Business
- Time of India
Amazon puts Rs 350 crore in Amazon Pay India amid rising competition in fintech
E-commerce giant Amazon has infused Rs 350 crore into its fintech arm, Amazon Pay India , as it seeks to bolster its presence in the country's competitive digital payments space dominated by PhonePe and Google Pay . The move comes as rival Flipkart's fintech platform, is reportedly in talks to raise $35–40 million in a new funding round, potentially bringing in external investors for the first time. Regulatory filings with the Registrar of Companies (RoC) reveal that Amazon Pay India allotted 3.5 crore equity shares to its parent entity, Amazon Corporate Holdings Private Limited, through a rights issue. This latest capital infusion follows earlier investments of Rs 300 crore in November 2024 and Rs 600 crore in June 2024, according to an ET report. Despite Amazon's continued investments, Amazon Pay's position in the UPI ecosystem has weakened. According to the National Payments Corporation of India (NPCI), the platform ranked eighth in UPI transaction volume as of March 2025 — down from sixth place a year earlier. It now trails behind PhonePe, Google Pay, Paytm, Navi, Axis Bank, and Cred. NPCI data also shows that PhonePe and Google Pay together command roughly 85 per cent of the UPI transaction volume, while Amazon Pay holds a modest 0.6 per cent market share. In February 2024, Amazon Pay secured a payment aggregator (PA) licence from the Reserve Bank of India, enabling it to expand its merchant payments operations — a potentially significant growth area given Amazon's strong e-commerce footprint. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo This followed an earlier approval for a prepaid payments instrument (PPI) licence. Amazon Pay currently offers a range of services including UPI transactions, bill payments, and insurance premium payments. It has formed strategic partnerships with platforms like BookMyShow, MakeMyTrip, RedBus, IRCTC, and Kuvera to branch into ticketing, travel, and wealth management. For the fiscal year ending March 2024, Amazon Pay India reported a 9.22 per cent rise in operating revenue to Rs 2,286 crore, up from Rs 2,093 crore in FY23. The company also managed to narrow its losses by 39 per cent, bringing them down to Rs 911 crore from Rs 1,499 crore. Meanwhile, the Payments Council of India (PCI) has urged the Prime Minister's Office to reintroduce the merchant discount rate (MDR) for UPI and RuPay debit card transactions, at least for large merchants. The proposal aims to address concerns around the long-term sustainability of digital payment providers. Amazon Pay India CEO Vikas Bansal had previously told ET that reintroducing MDR is essential to ensure smaller players in the UPI ecosystem are fairly compensated for their services. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
