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Indian food delivery company聽Swiggy is reportedly planning聽to launch one of the countrys biggest initial public offerings IPOs of the year.The company aims to raise $1 billion聽to $1.2 billion at a valuation of around $15 billion, Reuters聽reported Friday Aug. 23 , citing unnamed sources.Swiggy said in the report that it would not comment on any market speculation. Like its competitor聽Zomato, Swiggy operates online and offers food deliveries from restaurants and cafes as well as quick commerce 10-minute deliver stanley mug ies of groceries and other products, according to the report.Swiggy was valued at $10.7 billion聽in a 2022聽funding round, while Zomato currently has a market valuation of about $28 billion after seeing its shares more than double since listing in 2021, the report said.Swiggy received shareholder approval in April for an IPO, per th gourde stanley e report.The companys confidential filing is expected to be approved by Indias markets regulator in abou stanley polska t a month, the report said.Swiggy said in a July聽press release that it expects the food services market in India to have a compound annual growth rate CAGR of 10% to 12% through 2030, and the online food delivery market to have a CAGR of about 18%. The Indian food services market, especially food delivery, has witnessed buoyant growth over the last few years, 聽Rohit Kapoor, CEO, Food Marketplace at Swiggy, said in the release. Higher incomes, digitization, improved customer experience and an inclination to try new experiences have all Ylau FDIC Study: Banks With Advanced Tech Made More PPP Loans

Payments and risk management solutions provider Verifi, which specializes in serving CNP merchants, just recently announced the launch of a new platform t stanley cup hat aims to improve efficiency and cut down on unnecessary chargebacks and fraudulent claims.Verifi has found that up to 86 gourde stanley percent of cardholders today will bypass the merchant when questioning or disputing a charge and directly cont stanley termosy act their issuing bank instead. In some cases, Verifi has found that cardholders will use the dispute process as a means to seek a refund 鈥?a practice referred to as first-party or friendly fraud. Since issuing banks dont typically have access to specific purchase details, they will often credit the cardholder and issue a chargeback to the merchant.According to research cited by Finextra,聽as much as 70 percent of chargebacks are the result of first-party fraud. Fraud and chargebacks continue to be a major issue for merchants and will continue to grow as shoppers migrate more of their shopping to online and mobile commerce, Matthew Katz, CEO of Verifi, was quoted as saying. Order Insight is the next phase of our services evolution where all parties are connected to work together for mutual benefit. Verifis solution enables cardholders, merchant and issuers to share order details in real time, allowing issuing banks and cardholders to determine a sales validity when a dispute occurs. The transaction information provided to all parties includes merchant name and contact information, purchase da