Google invests $350 million in Flipkart for minority stake
Google has invested $350 million in Flipkart as part of a funding round led by Walmart, increasing Flipkart’s valuation to over $35 billion.
Zaggle Prepaid Ocean Services Q4 PAT rises 153%
For FY24, the company registered a 92% increase in PAT at Rs 44 crore as compared to Rs 23 crore in FY23 on a 40% rise in revenue from operations to Rs 776 crore as against Rs 553 crore.
Surge in credit cards on UPI: Small merchants and young adults lead adoption
A recent report on ‘Credit Cards on UPI’ reveals significant trends in the adoption of credit cards linked with UPI payments, highlighting a shift towards digital payment solutions among young adults and small merchants.
Paytm CEO hints at layoffs as sales slide, losses mount
FinTech unicorn Paytm reported record loss of Rs 550 crore for Q4FY24 as compared to Rs 167.5 crore in Q4FY23, mainly due to the regulator’s intervention and ban on its payments bank arm. Post this record loss, in a letter to the shareholders, Paytm CEO Vijay Shekhar Sharma hinted on job cuts, improving governance and …
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CashFlo acquires Logitax, bolsters GST and E-invoicing offerings
CashFlo has announced its acquisition of Logitax, GST and e-invoicing compliance provider, for an undisclosed amount. This strategic move aims to enhance CashFlo’s offerings and solidify its market leadership, it said.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company’s net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Decentro launches RBI-compliant ‘Flow 2.0’ payment stack
Decentro, recently became the youngest company to receive a Payment Aggregator license in February 2024. With Flow 2.0, it aims to address the comprehensive payment needs of businesses, promising high performance, full compliance with RBI regulations, and enhanced security.
India’s Paytm reports wider Q4 loss on banking unit wind down
PAYTM-India’s Paytm reports wider Q4 loss on banking unit wind down
Foster collaboration among regions to innovate payment methods in South Asia: AFI report
QR Codes are replacing cash as the most preferred mode of payment in South Asia. Real-time payment systems, which provide the comfort of instant payments like cash while being secure and seamless, are also another big reason for the decline in cash use were among the key findings of the report.
Propelld secures USD 25 Million debt financing for its subsidiary, Edgro
Bengaluru-based education lending FinTech, Propelld secures capital for its subsidiary, Edgro, a licensed NBFC, from nine lenders, including banks and NBFCs, to advance its mission in education lending.