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The federal reserve has announced the new rules for mobile payments, requiring WeChat Pay and AliPay to set the user's day - to - day trading limits, which are likely to lead to lower profitability.

Paytm has raised another $669.5 million (roughly ₹ 4,724 crore) funding. The latest round was reportedly led by existing investor Alipay, and also saw participation from SoftBank and T Rowe Price. Notably, this investment comes a couple of weeks after the company has received a whopping $1 billion.

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