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Elevate Your Business’s Payment Process with Synctric’s Advanced Technologies

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According to statistics, the number of people using digital payments is anticipated to increase by 5.4% annually in 2020. Even if this growing trend is still present, there is potential for improvement in how digital payments are handled. Before the widespread use of digital payment methods, users and customers found the platforms and payment procedures to be challenging. With the use of digital payment systems, business owners may easily and economically interact with banks, staff members, suppliers, and new markets for their products and services. By saving money and time on travel, these technologies help hasten the process of registering businesses and making payments for company licenses and permits. But issues like lack of bank accounts, digital gadgets, and dependable technology infrastructure present difficulties for many business owners and employees. Catering to the same, a technology company called Synctric helps its clients, especially SMEs, local businesses, and brands, by streamlining payments and lowering expenses to boost their ROI.

It is the ideal solution for companies of all sizes who wish to effectively manage their payments, collections, and expenses. You have everything you need to get going with our fully equipped dashboards. Additionally, integrating our services into your current systems is simple thanks to our banking APIs. Synctric now introduces its co-branded digital prepaid cards as its bloodline product for additional convenience. Introducing a complete line of digital prepaid corporate cards is the simplest method to spend, manage, and track your business costs. To satisfy the specific needs of enterprises, Synctric offers APIs. The B2B service provider can supply services that will provide the company with a competitive advantage in the market.

Sharing their take about their indigenous dashboard, the Founder of  Synctric went on to state, “You can manage your funds in a cutting-edge and modern method with the help of our platform. Our technology is continually current, and our services are simple to use. Additionally, our customer service is excellent. Therefore, you’ve come to the perfect place if you’re seeking a platform that offers you the best value for your money. We offer cutting-edge, technologically driven corporate banking solutions to make managing your finances easier. Our solutions are customised to match the particular requirements of your company. With our support, you can concentrate on managing your business, which is what you do best.”

He added,

“Anyone with a smart smartphone can now perform transactions quickly and securely offline and online thanks to digital payment technologies. Digital payments are becoming increasingly popular among businesses and customers as a quick, dependable, and frictionless method of exchanging money, but there are still some developments and advancements to be made. With our cards, you can quickly collect, monitor, and trace payments while taking advantage of real-time fund settlement. Plus, keeping track of your spending is simple thanks to our reconciliation tools.”

The company ensures you always have access to the most cutting-edge, high-end technologies. Going one step further, it also gives you cards to conveniently collect, trace, and manage payments and take advantage of real-time fund settlement. Additionally, it just unveiled a dashboard that is a first of its type and ensures to help nearby communities and companies with money and digital transactions. Thanks to the company, you will always have access to the most advanced, high-end technologies. One step further, it provides cards so you can easily collect payments, track them down, manage them, and benefit from real-time fund settlement. Additionally, it just introduced a dashboard, a first of its kind, that would support surrounding businesses and communities with financial and digital transactions.

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Adani, Torrent compete to purchase Gujarat Titans from CVC Capital

The probable sale of the Gujarat Titans, with the lock-in period coming to a close, will therefore be a defining moment in the changing face of IPL investments.

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The Adani Group and Torrent Group are currently negotiating a deal with private equity firm CVC Capital Partners to offload a controlling stake in the Indian Premier League franchise Gujarat Titans. According to sources, close to the development, reports say CVC Capital Partners will be looking to sell a majority interest while retaining a minority share in the franchise.

This becomes important because it is aligned with the end of the lock-in period by the Board of Control for Cricket in India (BCCI), which restricts any new teams from selling stakes until February 2025. The three-year-old franchise Gujarat Titans is reportedly worth $1 billion to $1.5 billion. CVC Capital Partners had paid ₹5,625 crore for the franchise in 2021.

A source close to the development pointed out that IPL franchises have attracted many investors’ interest since the league has proved an asset with a good reputation for money-making capabilities and cash flows. This growing interest of investors embodies the financial value and stability that come with the IPL franchises.

Gautam Adani, who owns teams in the Women’s Premier League and UAE-based International League T20, is understood to be one of the serious buyers. In 2023, Adani’s group won the Ahmedabad franchise in the WPL with a bid of Rs1,289 crore, the highest offer. His interests in this potential deal signal his commitment to expanding his footprint in the cricketing world.

Arvinder Singh, COO of Gujarat Titans, exuded confidence in the financial future of the franchise. He said the team was confident of turning profitable in the next media rights cycle, referring to even the original ten IPL franchises that took four to five years to turn profitable. He added confidently that the Gujarat Titans would not only turn profitable but significantly enhance in brand value.
 
This surging interest of investors in it is evidence of the growing financial attractiveness of IPL franchises, driven by healthy revenue streams and an increasing global footprint. The probable sale of the Gujarat Titans, with the lock-in period coming to a close, will therefore be a defining moment in the changing face of IPL investments.

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PayTm share price slips 2 per cent over SEBI warning

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The share price of PayTm fell by nearly 2 per cent on Tuesday following a warning from the the Securities and Exchange Board of India (SEBI).

PayTm’s parent One 97 Communication had got SEBI’s administrative warning letter on some transactions involving the PayTm Payments Bank during fiscal year 2021-2022. The bourses reacted strongly leading to PayTm shares falling by 1.88% to Rs 460.80 per share on the Bombay Stock Exchange.

SEBI said it had noted the violation with concern and said these matters are being viewed very seriously. The regulator warned the company to exercise caution going forward and improve compliance to rules to prevent similar incidents in the future.

The markets regulator added that failure to comply with rules may force it to invoke enforcement actions as per the law.

In its response to SEBI, PayTm said in a media release that it has always followed listing regulations, as well as any change to these rules over time. The company said it would keep up its commitment to maintain and follow high standards of compliance. Paytm said it intends to provide an adequate response to SEBI on this matter.

PayTm said it has always followed Regulation 23 along with Regulation 4(1)(h) of the SEBI Listing Regulations, without including any change made to these rules over time. Paytm added that the letter from  SEBI has no influence on its finances, operations or other activities in any way.

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Zomato, Swiggy hike platform fee by 6% 

After the hike, the platform fee would be Rs 6 per order from an earlier Rs 5 per order.

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The food delivery majors, Zomato and Swiggy, have recently increased their platform fee by 6 per cent for food orders initially in Delhi and Bengaluru.

The food giant is currently charging in the national capital and IT hub, Bengaluru, the platform fee is distinct from delivery fee, goods and services GST, handling charge and restaurant charges.

After the hike, the platform fee would be Rs 6 per order from an earlier Rs 5 per order. Gradually, the higher platform fee is expected to roll out to other cities as well.

Notably, this fee is applicable universally to all food orders, irrespective of customer enrollment in loyalty programmes offered by both food giants. The charges directly contribute to the companies’ revenue streams and cost management efforts. The platform fee goes to the food aggregators to apparently control costs and increase revenues.

In April, they charged Rs 5 per order, but now it’s been increased by Rs 6 per order. That’s a 20% increase in fees for food delivery. This change in their strategy to adjust the price in a market as they expand their services.

Increase in platform fees, impacting how much customers pay for their food deliveries across the board. When customers order food using the app, they will notice different charges, besides the platform fees. These include delivery fees, handling fees, GST (Goods and Services Tax), and charges from the restaurant.

The charges earned by the platform, directly go to the food delivery app, helping to manage all expenses and boost their wages. The food delivery platform aimed to make between Rs 1.25 to Rs 1.5 crore per day through the fee, the app charges.

In August last year, Zomato introduced platform fees of Rs 2 per order for the first time. In October, they raised their platform fees from Rs 2 to Rs 3 in most and in major cities. Additionally,  Zomato is a quick commerce platform.

According to reports, Zomato stock reached its highest price of Rs 232 on the Bombay Stock Exchange. This achievement has made Zomato founder and CEO, Deepinder Goyal, a billionaire. The company has experienced a strong upward trend over the past years, driven largely by the expansion and success of its quick commerce subsidiary in Blinkit.

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