asmit

While AI has long supported fraud detection, it is now enabling personalised financial services—from budgeting tools to virtual assistants capable of executing transactions via voice commands.

Rapid technology innovation that has enabled these devices to process all forms of payments from cards and buy-now-pay-later to UPI, as well as consumer preference for card payments for large-ticket purchases and banks’ push to issue credit cards have helped PoS terminals remain relevant. India had 10.7 million PoS terminals deployed at the end of …

PoS devices still not (s)wiped out in UPI wave Read More »

Fintech firm Wise is setting up a technology and operations hub in Hyderabad, which will serve as a full-stack centre for product, engineering and servicing teams. It is also introducing a new feature that allows small and medium businesses (SMBs) and freelancers to receive overseas payments in foreign currencies.

IDfy, an Indian integrated identity verification platform, on Wednesday announced the appointment of Malcolm Gomes as its new Chief Operating Officer (COO).

Resilient Payments will launch its online Payment Aggregator platform under the brand ‘BharatPe X’. This announcement comes after BharatPe acquired an NBFC license (Trillion Loans) and a stake in a Small Finance Bank (Unity SFB).

The RBI has allowed NPCI to revise UPI transaction limits for merchant payments in consultation with banks and stakeholders, offering greater flexibility amid rising digital transactions. The current cap may be revised, while the Rs 1 lakh limit for P2P payments remains unchanged. Regulatory sandbox norms were also liberalised making it theme neutral.

The National Payments Corporation of India recently introduced BHIM 3.0, a significant upgrade to the BHIM UPI app. marking the third major update since the app was launched in 2016.

The rollout will significantly enhance NPST’s payment stack for banks, boosting payment acceptance density in semi-urban and rural regions, areas that are rapidly emerging as high-potential hubs for digital transaction growth, it said.

In Q1 2025, Indian FinTechs recorded 10 exits, all through acquisitions, with no IPO activity. Notable investors included 100Unicorns, Blume Ventures, and Peak XV Partners, with InsuranceDekho securing the largest funding round at USD 395 million, as per the latest data by Tracxn.

If systemic non-compliance persists, the RBI may escalate punitive measures, including licence suspensions and criminal liability for severe breaches, experts say.