In terms of the total value of funds settled, UPI recorded Rs 15.80 lakh crore in September, slightly more than the Rs 15.76 lakh crore recorded in August.

Flipkart is supporting a separate entity within the group to distribute personal loans and create an independent credit marketplace, possibly named Super.money.

The tourism industry in India is experiencing an upsurge, with Foreign Tourist Arrivals (FTAs) reaching 6.19 million in 2022, a substantial increase from the 1.52 million recorded during the corresponding period in 2021.

India is in discussions with other jurisdictions to address the high cost of cross-border remittances, according to Reserve Bank Deputy Governor T Rabi Sankar. He described the current situation as “unconscionable” given the availability of cheap data connectivity. Sankar suggested that the introduction of a central bank digital currency (CBDC) could lower the cost of …

India in talks with more jurisdictions to make material impact on cross-border payments: RBI DG Read More »

PhonePe, the Walmart-owned fintech, has captured nearly 50% of the market share in UPI transactions in terms of value. It now accounts for 47.2% of UPI transactions in terms of volume. With banks not making money on UPI transactions, third-party apps like PhonePe, Google Pay, and Paytm dominate the space, accounting for nearly 95.7% of …

PhonePe’s hold over UPI tightens with 50% share Read More »

BharatPe’s strategy of focusing on lending appears to be paying off, with the company achieving threefold revenue growth while significantly reducing losses.

Aye said Gupta has served as the MD and CEO of PNB Housing Finance, while Bhal is the Modi Chair Professor at the Department of Management Studies at IIT Delhi.

According to at least two people in the know, Cred’s move towards vehicle management is also aimed at providing a strong car insurance distribution platform for its financial partners, as the fintech looks to open newer revenue streams.

Moondhra joined PayU as its global CFO in September 2015.

While major Indian festivities are lined up in the coming months, e-commerce platforms, payment and BNPL FinTechs are geared up for the festive season with new offers and rewards. A recent survey highlighted that consumers in tier 1 & 2 cities prefer to shop online this festive period while majority are willing to increase their …

Amazon Pay gears up with festive offers via its UPI, cobranded cards & Pay Later channels Read More »