asmit

SWIFT’s new system will use pseudonymised data from billions of transactions, detecting and flagging suspicious activity in real-time.

At the group level, its consolidated ebitda (earnings before interest, tax, depreciation and amortisation) loss before share-based payment expense reduced 75% to Rs 209 crore in FY24 from Rs 826 crore in the last fiscal. It also narrowed its consolidated loss before taxes by 50% to Rs 474 crore from Rs 941 crore in the …

BharatPe posts 39% rise in FY24 operating revenue Read More »

Zodius Capital has bagged more than $100 million in returns on its initial $8 million investment in OfBusiness in late 2016, said Gautam Patel, cofounder of the venture capital fund, confirming the exit. He is also the founder and managing partner at venture fund Z3Partners.

Lendingkart is in talks with Fullerton Financial Holdings, its largest shareholder, for an internal funding round at a major valuation cut. Ahmedabad-based small business-focused lending startup Lendingkart has been in the market for an equity funding round for a year now. But none of its deals have materialised yet.

During this year’s festive season sales, credit cards and credit-based payment instruments like pay-later products saw a significant increase, according to industry reports. Transactions rose by 35-50% compared to last year, with a large share being made through credit cards, EMIs, and pay-later options. Unified Payments Interface (UPI) remained the dominant payment method, with a …

Digital payments show strong uptick buoyed by wider adoption of credit during festive season Read More »

With the trio of UPI, UIDAI and Bima Trinity and other integrated platforms at play, India’s key industries are innovating at an unconventional pace. The numbers are quite telling; while the UPI has crossed an impressive $10 billion monthly mark, India’s Fintech market size is estimated to grow to $1.5 trillion by 2025.

Following its sister firm Policybazaar’s playbook, digital credit marketplace Paisabazaar, a part of listed PB Fintech, is building its own offline distribution channel. Naveen Kukreja, chief executive officer of Paisabazaar, told us that the company has set up a field team of around 100 people in Delhi, Mumbai, and Bengaluru.

Cashfree can offer settlement of around 12,000 transactions per second with this certification. Cashfree has built this switch in partnership with NSDL Payments Bank as the sponsor bank.

With more than 90% of its revenue currently derived from payments, lending, and insurance, the company is steadily building a pathway to profitability

Biz2X, a subsidiary of Biz2Credit, has surpassed Rs 9,000 crore in loan disbursements, driven by its AI-integrated platform, DigiKred. The company expects to facilitate an additional Rs 5,000 crore by FY2025. Strategic collaborations and expansions into UAE and Saudi Arabia bolster their growth.