New Delhi, Sep 27 (PTI) Lending and transaction banking software solutions provider Nucleus Software on Monday said its offline retail payment product, PaySe had been successfully evaluated by RBI under the cohort of Regulatory Sandbox with 'Retail Payment' as its theme.
"PaySe is the world's first online and offline digital payment solution designed and created with an aim to democratise money by making banking services available to the unbanked in remote geographies," a statement said.
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PaySe's offline payment solution was used to digitise the SHG (Self Help Group) centred ecosystem and was tested for P2M (Person to Merchant) transactions in tier 6 locations from November 16, 2020 to February 15, 2021 by RBI, it added.
PaySe was amongst the few entities to be able to complete this testing phase within the stipulated time, the statement said.
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**** PredictiVu raises $1.5mn in funding from Market Xcel, others
*Analytics startup PredictiVu on Monday said it has raised USD 1.5 million (about Rs 11 crore) in a pre-seed funding round from Market Xcel Data Matrix and others.
The Gurugram-based business-to-business tech company plans to use the capital for product development, bolstering its existing AI capabilities and diversifying its product line, a statement said.
"This (funding) will help us to add more AI/ML capabilities into our product line and provide personalised, accurate real-time insights to our partners. The pandemic has entirely altered consumer behaviour and has accelerated the need to track insights faster for the hypercompetitive offline smartphone retail market," PredictiVu Vice President Kunal Sarkar said.
**** Alpha Coach raises $1.25mn funding from Jani Ventures, others
*Alpha Coach, an online technology and data-driven personal training platform, on Monday said it has raised USD 1.25 million (about Rs 9.2 crore) in funding from Jani Ventures and others.
The funding round - which valued the company at USD 5 million - also saw participation from a clutch of angel investors, including Cycladic Capital founder Dimitri Goulandris and others, a statement said.
Alpha Coach will use the funds to continue building a strong team, and launching and scaling up their fitness-tech platform to provide a refreshing, engaging, and results-focused fitness experience for Indians, it added.
Alpha Coach is designed for busy individuals who want to start getting more active, but aren't able to find the right guidance, structure, and systems to begin. As part of the programme, users get access to tailored diets and meal plans, a customised exercise regimen and 24-hour access to a coach.
**** Karur Vysya Bank donates over Rs 3 crore to PM CARES Fund
*Private sector Karur Vysya Bank on Monday said it has donated over Rs 3 crore to the PM CARES Fund, as part of its CSR funding.
"Karur Vysya Bank today donated a sum of Rs 3.14 crore to the PM CARES FUND from its CSR Funds," it said in a release.
The bank said a demand draft (DD) of this amount was handed over to Finance Minister Nirmala Sitharaman at New Delhi by the bank's Managing Director and Chief Executive Officer B Ramesh Babu.
As part of the bank's support under CSR to the government's efforts in the containment of COVID-19, the bank has already donated over Rs 3 crore from its CSR funds.
Babu said the bank is committed to giving back to society in a big way through its CSR (corporate social responsibility) initiatives.
During the current financial year, more initiatives that will add value and benefit to society will be unveiled, he added.
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