The ‘RuPay On-The-Go’ campaign highlights RuPay NCMC’s role as the ideal companion for dynamic individuals who value time and efficiency. By enabling multimodal utility across metros and buses, the campaign connects seamlessly with the everyday needs of commuters.
One MobiKwik IPO GMP: The initial public offering (IPO) of One MobiKwik Systems, a digital payments platform, will open on December 11, aiming to raise Rs 572 crore. The IPO features a price band of Rs 265-279 per share and includes a fresh issue of up to 2.05 crore equity shares.
Paytm’s shares surged over 3% after announcing the sale of its stake in Softbank’s PayPay Corporation. The divestment, valued around ₹2,000 crore, propelled Paytm’s market capitalization to nearly ₹64,110 crore, with shares hitting a 52-week high. This occurred amidst a slight dip in both the BSE Sensex and NSE Nifty.
Paytm is selling its 5.4% stake in Japan’s PayPay Corporation to SoftBank for an estimated $250 million, boosting its cash reserves. This move aligns with Paytm’s strategy of focusing on core payments and financial services businesses after divesting non-core assets like its entertainment ticketing platform.
VoloFin, a fintech platform, secured a $50 million funding line from a major global bank to support SMEs in India and globally. The company plans to expand operations, facilitate Indian export growth, and increase the funding limit to $150 million in the next few years.
Credit line on UPI was launched in September 2023 and was made available to scheduled commercial banks, it has now been decided to permit small finance banks to sanction credit line on UPI, the RBI stated.
The Reserve Bank of India (RBI) has proposed to link the FX-Retail platform with Bharat Connect platform of National Payments Corporation of India (NPCI).
In January this year, MobiKwik had filed its draft papers for an IPO seeking to raise Rs 700 crore. The issue was much smaller than its initial plan to raise Rs 1,900 crore three years ago, when it had made the first attempt to go public.
Job opportunities are expected to rise by 7.5 per cent in the Indian fintech industry, spurred by the widespread embrace of digital payments, blockchain innovations and the growth of open banking systems, according to a report on Thursday.
Fintech funding has slowed down significantly since its boom in 2021, after they collected a whopping USD 8.4 billion. This year we might be on our way to see that growth again, with a total capital raised of USD 3627 till November 2024, as per data by 1Lattice.
