Fintech startup CASHe to set up new tech excellence centre in Hyderabad
CASHe is setting up a new technology excellence centre in Hyderabad, planning to hire 150 techies by 2024 to expand its digital engineering capabilities.
100X.VC invests $2.7 million in 17 startups
100X.VC, a Mumbai venture capitalist firm, injected $2.7 million into 17 startups in their 11th cohort. This brings their total portfolio to 161 companies. Ninad Karpe, founder and partner at 100X.VC, said they invested Rs 1.25 crore in each startup and provided mentorship to help them refine their products and go-to-market strategies.
UPI to be expanded to 20 countries by FY29, new payment features planned
The RBI also plans to explore multilateral linkages and collaborative opportunities for the Fast Payment System (FPS) with regions such as the European Union and the SAARC.
US payments giant Stripe goes invite-only in India amid evolving regulatory landscape
The payments firm said that it will only be able to support a select number of businesses with focus on international expansion for the time being.
Razorpay POS launches ‘Q-Zap’, a queue-busting suite for zero queues and faster checkouts
Razorpay POS launches ‘Q-Zap’, an intelligent payment solution for offline retailers, aiming to enhance in-store customer experience and reduce operating costs.
Google Wallet in India partners with Pine Labs to offer gift cards
Users can store and manage Gift Cards within the Google Wallet app, and will receive reminders to use them at checkout.
Kumar Gaurav steps down as Founder & CEO of Cashaa
The company has promoted its CTO Amjad Raza Khan to Chief Executive Officer.
SRO framework to enhance sustainability & credibility of fintechs, increase compliance costs: Experts
FinTech sector experts welcome RBI’s SRO framework, highlighting how it will enable fintechs of all sizes and stages to thrive, while maintaining the integrity of the financial system. The leaders believe that this new framework will help enhance sustainability and credibility of the fintech sector. Here’s what they said:
Reliance launches beta version of JioFinance app to offer UPI, digital banking, loans on mutual funds
Jio Financial Services introduced the beta version of the Jio Finance app, offering UPI, digital banking, and mutual fund loans. Key features include instant digital account opening and streamlined bank management. The app integrates various financial services like digital banking, UPI transactions, and insurance advisory. Future plans include expanding loan solutions, starting with mutual fund …
RBI releases finalised framework for SROs in FinTech
The regulator has initiated the process of recognising SROs and invited applications from eligible organisations. The Apex Bank said that the oversight framework should be activity-based, risk-based, scale-based and phased-in as well.