Paytm’s sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India’s ban on services of Paytm Payments Bank.
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 2.9 billion in May 2024, while the top 20 deals summed up to about USD 2.1 billion.
Fino Payments Bank sees an opportunity in the digital banking space after Paytm Payments Bank’s exit. To capitalise on this, they’re ramping up their digital offerings, aiming to grow their digital revenue share from 5-6% in FY24 to 15% this fiscal year. Since December, Fino has deployed around 14,000 QR codes which reported 300,000 transactions …
Fino Payments Bank eyes tripling digital banking revenue share by FY25 Read More »
UPI overpayment scam: You should be careful before sending or accepting any UPI collect money request especiallly from unknown numbers or IDs. This is because scamsters have now become more sophisticated and specifically targetting various tricks to make sure you stay distracted enough to not notice the scam. Read here how a individual got saved …
RBI Governor Das attributes UPI payment disruptions to banks’ outdated technology, not NPCI. Digital payment failures rise, impacting customers. UPI transactions exceed 450M daily. RBI introduces UPI Lite for enhanced reliability.
India’s Fintech sector is seeing unprecedented increase in regulations and related compliance requirements. Additionally, subcontracting of services also with the consent of the regulated entities. This has led to a substantial increase in compliance costs and even increased costs due to legal hires. ETBFSI speaks to top legal and regtech experts and gives you an …
How much do Indian FinTechs spend on compliance? Read More »
Walmart’s Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple of years, as stated by Walmart’s executive, Dan Bartlett.
Das said the RBI does not prescribe minimum investment but banks should invest adequately in IT infra in line with business growth to cut outages.
With increasing number of frauds relating to digital payments in India, with an objective to minimise it, the RBI MPC has decided to set up a Digital Payments Intelligence platform and has further constituted a committee led by A.P. Hota, former MD & CEO, NPCI to take this initiative forward.
Tencent Cloud Europe BV divested ₹415.7 crore worth of PB Fintech shares in a bulk transaction on the NSE, selling 33 lakh shares at ₹1,259.7 each.
