The penetration of personal loans has seen growth, with increases of 24 per cent in Bihar, 21 per cent in Tamil Nadu, and 20 per cent in Uttar Pradesh in FY’24 compared to the previous year.
PhonePe has partnered with Liquid Group to enable Indian travelers in Singapore to make payments using the PhonePe app. This collaboration allows users to scan merchant QR codes and pay in Indian Rupees. The partnership also facilitates international remittances via UPI, enhancing convenience for NRIs in Singapore.
Bengaluru (Karnataka) [India], PayGlocal, a leading cross-border payment solutions provider, is thrilled to announce that it has received final authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator. This significant milestone allows PayGlocal to officially commence the onboarding of merchants, further cementing its position as one of the emergent …
PayGlocal gets RBI nod to operate as an online merchant payments company Read More »
The Fintech Association for Consumer Empowerment (FACE) aims to include smaller companies to enhance its representation and effectiveness. Recognized by the Reserve Bank of India as a Self-Regulatory Organisation, FACE plans to expand its membership, set up committees, and work on a fraud repository in collaboration with various authorities.
Indian students represent 25 per cent of Niyo’s clientele, making this move a strategic alignment with a growing segment. In 2023 alone, over 1.3 million Indian students went abroad for higher education, a number expected to surpass 1.5 million by 2025. Niyo is aiming to capture 50 per cent of this market by FY26.
Uttarakhand Finance Minister Premchand Aggarwal stated that the GST Council did not reach a decision on imposing 18 per cent GST on payment aggregators for transactions under Rs 2,000. The matter will be reviewed by the fitment committee. Additionally, the issue of GST on Research and Development will also be referred to the committee. Aggarwal …
Worldline has been a key player in Uttar Pradesh, deploying thousands of POS terminals in both urban and rural areas.
The company has expanded its services for SMBs by integrating forex and risk analytics solutions with its core trade financing products.
PayGlocal is an international payments-focused startup and has also applied for a cross-border payments licence. That application is still being processed by the central bank. The company expects to receive this licence in due course from the Reserve Bank of India (RBI).
While there has been a funding winter in startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTechs across the globe raised about USD 1.74 billion in August 2024, while the top 20 deals summed up to about USD 1.49 billion.
