Digital Lenders Association of India (DLAI) has been rebranded as Unified FinTech Forum, that represents 120 members from FinTech ecosystem. Flexiloans’ Co-founder & CEO has been elected as the President and MobiKwik’s Co-founder Upasna Taku takes on the role of Vice-President of the executive committee.
PB Fintech shares will be in focus after its subsidiary PB Pay received RBI’s in-principle nod to operate as a payment aggregator. While this marks a key regulatory milestone, the stock trades above key short-term averages and shows bullish technical signals. Analysts maintain a ‘Hold’ rating with a 7% upside potential. The stock closed 5.8% …
PB Fintech shares in focus after RBI clears PB Pay as online payment aggregator Read More »
India aims to onboard millions to its Unified Payments Interface (UPI) and promote its global adoption. NPCI plans to add 200-300 million users by introducing delegated accounts and expanding features. While UPI’s popularity surges, discussions around reinstating transaction fees to ensure viability are ongoing, potentially impacting future growth.
Piyush Anchliya, former CFO of Bandhan AMC (formerly IDFC Asset Management Company), has been appointed Chief Financial Officer at Cashfree Payments. He joins as the company expands its operations with three RBI licenses—PA-PG, PA-CB, and PPI.
You have 500 million people using DPI, UPI as a way of life, and that idea, that way of thinking of how do you bring large population, especially the people who probably do not have formal access to the economy, bring them together closer and make government, public, private sector all come together to serve …
UPI no more a technology, it’s a population-scale habit: FIDE CEO Sujit Nair Read More »
Fintech startup Cred is in talks to raise $100–200 million at a reduced valuation of around $4 billion, down from $6.4 billion in 2022. Backed by investors like GIC and Peak XV, Cred is focusing on profitability and may consider an IPO in two years amid improved revenue and reduced cash burn.
This announcement comes after Findi raised AUD 45 million (INR 243 crore), acquired Tata Communications Payment Solutions and its Indicash brand, expanded its ATM network with SBI, and secured a INR 500 crore mandate from Union Bank of India to deploy ATMs across India, earlier this year.
MobiKwik cofounder Upasana Taku sees immense growth potential in India’s fintech sector, driven by digital payments and expanding financial services. With only 10% of Indians using multiple financial products, opportunities abound. The company aims for 10 fold growth through diversification, innovation, and a focus on profitability despite macroeconomic and regulatory headwinds.
UPI faced its third outage in less than a month, causing partial decline of online payments. NPCI stated that the outage is caused due to intermittent technical glitch and that efforts are underway to restore online transactions.
UPI outage today: According to Downdetector, complaints regarding UPI services surged were over 1,000 as of noon, with payments and fund transfers being the most reported problems.
