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India’s Rs 1,400-crore mobile payments business dies in 2018

India’s mobile payments service, Reliance Mobile Payment, has been shut down after a year of growth and the launch of a new service.

The company’s online payment service, called Reliance Online Payments, was launched in October 2017, a year after Reliance Pay, the Indian mobile payment service launched by Paytm and others.

It was the first of its kind to allow consumers to pay for products with mobile phones.

The service also allowed users to set up online stores, allowing users to buy products and pay for them through the internet.

The RelianceMobile Payments service was meant to help consumers pay for mobile products and services using a mobile phone, said Nirmala Shetty, chief marketing officer at Reliance.

But the growth in the Reliance mobile payments market was very slow, and the new service did not make any money.

In 2018, the company sold more than 1.3 billion phones and more than 600 million items, which amounted to more than 25% of its total sales.

The online payment company was sold to mobile-focused online payments provider BHEL, which was set up in February 2017.

It also was bought by Reliance Group, a subsidiary of Indian conglomerate Reliance Industries Ltd, which merged into Reliance Communications.

The new BHELS, which launched in January 2018, was one of the largest online payments providers in India, said Shetty.

It said it had revenues of Rs 4,932 crore ($70 million) for the fiscal year ended June 30, 2019, and it had a network of about 2.1 billion customers.

The announcement of the company’s closure comes amid an ongoing debate in India over how to curb the growth of mobile payments in the country.

A proposal in Parliament earlier this month to amend the Digital India Act, which would allow for a ban on mobile payments from being made by non-government entities, had not gained support from the government, according to the Indian Express news portal.

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