In the Asia-Pacific region, mobile and digital wallets have overtaken traditional payment methods like cash and bank transfers for e-commerce payments.

India, a global leader in FinTech innovations such as secure payment systems, paperless lending, mobile banking, and digital wallets, ranks third globally in this sector, behind only the USA and China.

This significant uptake of alternative payment solutions can be attributed to the widespread usage of mobile wallets, largely driven by UPI, which facilitates mobile payments in real-time simply by scanning QR codes.

Paytm has appointed former Sebi whole time member Rajeev Krishnamuralilal Agarwal to the board as non-executive independent director as Neeraj Arora had resigned citing “personal commitments”.

FinTech Leaders spoke on the need of a broader licensing framework for the fintech ecosystem, with more and more fintechs voluntarily wanting to be regulated. They further highlighted how every digital lender has a hero product today but are unsure about what next they can bring to the table.

In an exclusive interaction with ETBFSI, Vikas Bansal, Whole-Time Director of Amazon Pay India, confirmed the entry into Credit on UPI business, and said the Fintech is working with the NPCI, and banks. On the question of launch date, he said that it will happen ‘very soon’. He further spoke on the recent development of …

Exclusive: Amazon Pay’s Credit on UPI will finance from online food to washing machine Read More »

With the help of credit on UPI, people and companies can obtain bank credit lines that have already been approved. Now customers can scan to use their credit on UPI with ICICI Bank mobile app’s PayLater option.

Delivering a special address at ETBFSI FinNext Summit 2024, Joshi said rapid expansion by FinTechs can be risky; a controlled pace ensures effective performance tracking and proper controls.

The discussions between Paytm, officially known as One97 Communications Ltd., and online food delivery firm Zomato are in advanced stages, though there are other suitors for the business, the people said, declining to be named as the matter is private. Talks are ongoing and no final decision has been made, the people said.

At ETBFSI FinNext Summit 2024, Fintech honchos were clear: Achieving scale requires strategic clarity, a commitment to long-term growth, and a focus on operational efficiency.