asmit

UPI transaction volume experienced a decline in November 2024, dropping to 15.48 billion from October’s peak of 16.68 billion. Immediate Payment Service (IMPS) transactions also saw a decrease, recording 408 million in volume and Rs 5.58 trillion in value. Meanwhile, FASTag, India’s electronic toll collection system, processed a higher transaction volume of 359 million, though …

UPI clocks 516 mln daily transactions, November value dips to 15.48 Bn Read More »

Industry Experts Gather in Hanoi to Address Evolving Payment Security Landscape and Technology Challenges

India’s fintech industry is leading the way in digital payments and financial inclusion, boosting ease of business and innovation, according to delegates at the Eurasian Group meeting. However, the industry faces growing challenges from financial crimes and cyber fraud.

Gurgaon (Haryana) [India], Paisabazaar, India’s largest lending marketplace, announced today introduction of an advanced Fraud Detection and Prevention System designed on its platform, to enhance trust and ensure responsible lending. The system would leverage sophisticated machine learning algorithms and innovative technologies to proactively identify and mitigate fraudulent activities, helping build a safer ecosystem.

Paytm shares hit a 52-week high after UBS raised its target price to Rs 1,000, maintaining a ‘Neutral’ stance. The brokerage anticipates revenue-driven growth as cost optimization plateaus. Bernstein also increased its target to Rs 1,000, highlighting potential upside and downside scenarios. Paytm launched an automatic top-up for UPI LITE, streamlining small-value transactions.

In the ongoing financial year, Indians have lost Rs 485 crore to UPI in 632,000 reported incidents.

The National Payments Corporation of India (NPCI) is in the process of integration with five to six banks for the launch of interoperability in net banking and mobile banking-based payments in the first phase, people in the know told us.

Comviva has appointed Raja Mansukhani as its Chief Strategy, Technology, and Transformation Officer. Mansukhani will lead Comviva’s strategic initiatives and drive the company’s Comviva 2.0 vision. He brings extensive leadership experience in IT, telecommunications, fintech, and digital platforms. Comviva aims to enhance its capabilities in digital commerce, data monetization, and customer experience solutions as part …

Comviva appoints Raja Mansukhani to accelerate growth and transformation Read More »

Aggarwal’s appointment boosts growth strategies, leveraging his expertise in digital marketing and product innovation.

India is strengthening its fintech regulations. The government is working on recommendations from the Financial Action Task Force. These aim to curb money laundering and terror financing. The Reserve Bank of India has issued guidelines for payment systems. Virtual asset providers must now register with the financial intelligence unit. Officials want regulations to support industry …

India has taken robust measures to regulate fintech industry: Finance ministry official Read More »