Startup news and updates: daily roundup (October 13, 2022) – DigitalSevaa.Com (Follow us for latest Digital Marketing Trends,Tips,Products and More)

PhonePe enables Online Dispute Resolution (ODR) for UPI

Walmart-backed payments company PhonePe has announced enabling dispute resolution for UPI-related transactions through UPI Unified Dispute and Issue Resolution (UDIR) system.

UDIR will work as an automated, single-channel redressal system and allows customers to raise complaints on the PhonePe app directly. The complaint is then redirected to the relevant bank or Payment Service Provider (PSP) for resolution.

Currently, the system addresses finalisation for pending transactions, confirmation of refund credit to the remitter’s account in case of failed transactions, and the ability to raise complaints which can be resolved in an automated manner by the respective bank/PSP.

RBI first rolled out the framework for online dispute resolution for Payment System Operators in August, 2020.

35 North Ventures ropes in former Dhanlaxmi Bank CEO

35 North Ventures, a sponsor of India Discovery Fund, has announced the appointment of Sunil Gurbaxani as Operating Partner on the board. In his previous role, Sunil served as the CEO and Managing Director of Dhanlaxmi Bank and has held various leadership roles across SBBJ and Axis Bank during his career.

35 North Ventures has its own proprietary investment models and algorithmic approach to risk-adjusted targeted returns for its investors. It leverages the expertise of its key board members for portfolio companies and had also onboarded former CEO of IDFC First Bank, Avtar Monga, to its board earlier this year.

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Three Wheelers United autos

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Future of mobility: What’s driving India’s push towards EVs

Three Wheels United enters two-wheeler EV financing

Bengaluru-headquartered financier for light electric vehicles in India, Three Wheels United(TWU), will now offer financing for two-wheeler electric vehicles (EV) across Karnataka and Delhi-NCR. So far the company was primarily focused on offering tech-enabled loans to electric auto-rickshaws.

TWU plans on financing close to 2,000 two-wheelers over the next six months. Founded in 2017 by Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra, the company offers structured financing options to make EVs accessible and affordable.

So far, TWU claims to have financed over 4,000 auto-rickshaws and has over 50,000 drivers on its platform. Over the next six months, TWU aims to finance 2,000 two-wheelers across Karnataka and Delhi-NCR.

MakeMyTrip launches luxury vacation rental

Online travel aggregator MakeMyTrip (MMT) has partnered with Lohono Stays, a luxury vacation rental brand in India. As part of its inaugural offer, the OTA is running a series of promotional offers across listed properties of Lohono stays’ luxury rental homestay villas across.

MMT has been investing in the homestay segment and offers coverage across 1,100 cities in the country. With Lohono Stays, the platform wants to accelerate the base of the ultra-luxury segment in the homestay ecosystem.

(This article will be updated with the latest news throughout the day.)

Edited by Kanishk Singh