Ecommerce companies

Softbank-backed Juspay is set to become a payment aggregator (PA), entering the same league as that of Razorpay and PayU.The company recently received an in-principle approval from the Reserve Bank of India to build this business.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIIM KozhikodeIIMK Senior Management ProgrammeVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitJuspay has been…

Bengaluru-based ecommerce startup Meesho on Friday slashed 15% of its workforce, affecting 251 employees, as cofounder and CEO Vidit Aatrey cited a “challenging macroeconomic environment” being the reason for the retrenchment. “I have a difficult news to share today. We are reducing the size of the Meesho workforce by 15%, affecting 251 employees,” Aatrey said in his email. “As leaders, we made judgement errors in over-hiring ahead of the curve...At the same time, we could have run our org structure in a more effective…

In what could lead to fresh concerns for ecommerce and food-delivery firms, the Indian government may issue rules stipulating that 'related party' or ‘associated enterprises' of internet marketplaces should not sell products or services to a registered merchant on their platforms, multiple people briefed on the matter told ET.The Consumer Affairs Ministry is leading the latest round of deliberations which were held earlier this month, sources added. There has also been an inter-ministerial discussion with the Department…

The consumer affairs ministry is working on tightening ecommerce rules to make online retail platforms liable for fraud committed by sellers and attaching “fallback liability” to their role as intermediaries, said a senior official.Rules will be formulated after the platforms respond to queries related to the issue, sent to them by the ministry of electronics and information technology (MeitY), said the consumer ministry official.MeitY’s note was prompted by questions from the Department of Consumer Affairs, which is part…

Etsy on Monday resumed payments to merchants with Silicon Valley Bank accounts after the e-commerce platform paused their payouts over the weekend following the US government shutdown of the bank last week.Approximately 0.5% of Etsy's active sellers - or around 2,700 merchants - had their payments delayed on Friday after SVB's collapse, according to Etsy. "We are working to pay these sellers today, and we've already started processing payments via another payment partner this morning," an Etsy spokesperson said. The…