The new allegations underscore the issues that Meta's planned system would counter. Meta said it was reviewing the complaint and did not provide immediate comment on it or the status of the planned changes.
According to a presentation made before analysts, One97 Communications (OCL) said the company at present, earns net payment margin of 7 to 9 basis points (bps) of gross merchandise value (GMV) on processing.
Sofina Ventures and Temasek co-led the Series E funding, with other existing investors RTP Global Partners, Prosus Ventures and Lightrock India also participating in the round.
On Monday, the world's richest person Elon Musk criticized the fee Apple charges software developers - including his Twitter business - for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay it.
Talking about the draft telecom bill, which has proposed bringing over-the-top (OTT) apps under the same licensing conditions as telecom services firms, he also said internet platforms like Facebook, which function as intermediaries, should be governed by existing IT legislations.
Benioff will remain the sole CEO and continue as board chairman of the software giant when Taylor departs on Jan. 31, the company said Wednesday in a statement. Taylor has been at the company for the past six years and was named co-CEO in November 2021.
Growth will come from expanding into tier-3 cities, global markets but without burning money amid funding slowdown: Bain & Co and Accel report.
