With a TPV of USD 1,545 billion, PhonePe surpasses industry giants such as PayPal, Stripe, and Adyen, solidifying its position at the forefront of the payments sector.

UPI transaction limit change: The National Payments Corporation of India (NPCI) has increased the transaction limit for certain payments using UPI to Rs 5 lakh, making it easier for individuals who use online payments. This move aligns with India’s push for a digital economy. The increased limit is likely to be effective from September 16, …

UPI transaction limit set to change from next week; check latest limits for different UPI payments Read More »

Razorpay’s Harshil Mathur discusses their omnichannel payment evolution, future growth in offline payments, international expansion towards south east asia, and the potential of India’s FinTech ecosystem.

India’s fintech landscape has witnessed significant growth, with payments and lending sectors dominating the funding landscape, according to a recent report by Beams FinTech Fund and JM Financial. These two sectors have captured a staggering 85% of total funding, with payments receiving $11.8 billion and digital lending garnering $9.8 billion.

A recent survey reveals a significant shift in leadership dynamics in the FinTech industry, with Generation X (35-50 year olds) poised to dominate top positions globally, accounting for 51% of leadership roles.

India’s fintech sector has reached new heights, with a combined market value of $90 billion across 26 unicorns, including one decacorn, and a thriving ecosystem of soonicorns and minicorns. According to a recent report by Beams FinTech Fund and JM Financial, India is home to a vibrant fintech industry, boasting 10,200 registered fintech startups.

It plans to apply for a payment aggregator licence with the RBI and has recently received approval for foreign direct investment from the Indian government.

Paytm will focus on achieving profit after tax instead of centring on operational profit before employees stock option, the fintech’s founder and CEO Vijay Shekhar Sharma said on Thursday.

NPCI has reported a 37% growth in its net profit at Rs 1,134 crore for FY24. Total revenue was up 42% at Rs 3,278 crore on a consolidated basis. Income from payment services increased 37% to Rs 2,693 crore during the reporting period.

FinTech giant Paytm is set to reapply for a payment aggregator license with the Reserve Bank of India (RBI), the company’s CEO revealed in the AGM. Despite facing challenges, including a recent increase in net loss, Paytm remains committed to driving growth and innovation in the industry.