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The retail payment body which runs AePS wants banks to explicitly seek customer consent regarding this service at the time of account opening.

Over the last year, BharatPe has seen a top-level exodus in senior management with Nehul Malhotra, head of buy-now-pay-later product, PostPe; Vijay Aggarwal, chief technology officer; Rajat Jain, chief product officer for lending and consumer products, and Geetanshu Singla, vice president, technology, resigning from the startup.

The fintech lending industry continues its upward march with increasing disbursements, showing a promising future for the industry. With emerging digital lending companies in India, the country witnessed a growth of CAGR 39.5 percent over a span of 10 years.

To safeguard users from increasingly sophisticated financial scams wrought by bad actors online, Google has put in place ‘DigiKavach’ – an early threat detection and warning system designed to identify and study emerging financial fraud patterns and develop and implement effective countermeasures.

The RBI authorisation will enable Zaakpay to onboard new merchants onto its platform which will facilitate quick and easy processing of online payments.

Infibeam Projects Management Pvt Ltd, a subsidiary of Infibeam Avenues Ltd, has purchased a Sintex Group corporate house in Ahmedabad. The property, which includes a 7,000 square metre plot and 4.20 lakh square feet of constructed property, was bought for between Rs 90 crore and Rs 100 crore. Infibeam intends to develop a commercial space …

Infibeam Group buys Sintex corporate house from NBFC Read More »

Bengaluru-based fintech startup Groww has turned profitable as it registered Rs 1,277 crore in revenue in FY23, a huge 266 per cent surge. The Zerodha rival reported a net profit of Rs 448.7 crore in FY23 against Rs 239 crore in net loss in the previous fiscal year.

According to data by the Reserve Bank of India, PoS transactions in India has seen a muted growth over the last eight months, from January to August, 2023, alongwith a tepid growth in installation of new PoS machines in India. Here’s what the data suggests:

Bitcoin rose 6% on Tuesday to to $35,198, its highest in nearly a year-and-a-half, on mounting speculation that an exchange-traded bitcoin fund is imminent.

According to the company, the growth in revenues comes as it doubled down on new merchant acquisitions. Further, profit pools increased as almost 90% of transactions on the platform were from repeat customers.