This comes a year after PayU received in-principle approval and more than two years after its licence application was returned by the Reserve Bank of India. It joins the likes of BillDesk, CCAvenue, Razorpay and Cashfree, which have all received the online PA licence from the central bank over the last one year.
Chinese fintech giant Ant Financial offloads shares worth Rs 2,200 crore in Paytm amid continued stake reduction. The news triggered a significant drop in Paytm’s stock, which plummeted 5% to hit a day’s low of Rs 823.10 on the BSE during early Tuesday trade.
Fintech companies are revitalizing mobile wallets (PPIs) due to potential revenue from merchant discount rates, unlike non-revenue generating UPI payments. RBI’s full KYC guidelines allowing up to ₹2 lakh storage and interoperability with UPI are driving this resurgence. Paytm aims to regain its wallet business post-Paytm Payments Bank closure to recover lost revenue and enhance …
Shares of One97 Communications Ltd, the parent company of Paytm, declined marginally on Tuesday after stock worth Rs 2,380 crore changed hands in multiple large trade order involving 1.7 crore shares.
Data shows Micro, Small, and Medium Enterprises (MSMEs) in Tier II and III cities have experienced an average 20% increase in revenue after onboarding onto the Open Network for Digital Commerce (ONDC).
Groww doubled its AUM, Zerodha Fund House grew nine times and Navi increased its portfolio by 44% in an otherwise good year for the mutual fund industry,
Paytm’s founder, Vijay Shekhar Sharma, his brother Ajay, and One 97 Communications settled a disclosure violation case with Sebi, paying ₹2.79 crore. Vijay and Ajay will forgo ESOPs, with Vijay refraining from accepting new ESOPs from listed companies for three years. Ajay will also disgorge ₹35 lakh to Sebi as part of the settlement.
Cashfree Payments, on Thursday, announced that it now supports over 140 currencies to streamline cross-border transactions, allowing international customers to pay locally while Indian merchants receive INR settlements, enhancing global payment efficiency.
Shailesh Paul will be replacing Suresh Rajagopalan as CEO of Wibmo. Paul brings with him 18 long years of experience as an executive of Visa and has experience in various roles at Standard Chartered and Mastercard . At Wimbo, he will be incharge of the company’s strategic direction and execution.
The fund raise includes $50 million from Silicon Valley-based General Catalyst, which last year led a $340 million round in Mumbai-based quick commerce startup Zepto and is a backer in Indian startups Cred and Spinny.
