Chinese Loan Apps: Why betting sites should worry as ED raids payment firms over Chinese loan apps

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Even as the Enforcement Directorate (ED) raided the offices of payment gateway companies Razorpay, Cashfree, and Paytm last week in the Chinese loan app case, there was another set of smart players going about their business unrestrained. Gambling and betting sites based outside India, such as Betway.com and bet365.com, were seen using all kinds of Indian payment methods including UPI as on September 6 morning to facilitate betting and gambling

( Originally published on Sep 07, 2022 )



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Chinese Loan Apps: Why betting sites should worry as ED raids payment firms over Chinese loan apps



Even as the Enforcement Directorate (ED) raided the offices of payment gateway companies Razorpay, Cashfree, and Paytm last week in the Chinese loan app case, there was another set of smart players going about their business unrestrained. Gambling and betting sites based outside India, such as Betway.com and bet365.com, were seen using all kinds of Indian payment methods including UPI as on September 6 morning to facilitate betting and gambling

( Originally published on Sep 07, 2022 )



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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