Facial recognition-based Aadhaar payments, launched by NPCI, have not gained traction even after a year due to limited implementation by banks. Public-sector banks like SBI seek a desktop version from UIDAI. Facial recognition promises lower costs and better reliability compared to other Aadhaar verification methods.
With the draft rules emphasising transparency, entities must provide clear, detailed notices about data collection, usage, and the process for withdrawing consent, all while ensuring the notices are available in English and 22 Indian languages.
MobiKwik’s first post-listing results for Q2FY25 highlight strong growth, with Payments GMV surging 267.3% YoY and total income rising 42% YoY. The company expanded its user base to 167 million and merchant network to 4.4 million while maintaining industry-leading margins.
Indian FinTechs finally showed revival at the close of 2024, securing USD 425.4 million of funding in December, a significant rebound from November’s USD 130.4 million, the lowest monthly tally for the year. Six deals were closed, with Shubham Housing Finance landing the largest investment of USD 118 million. The trend is also opposite to …
FinTech Funding December 2024: Indian FinTechs raised USD 425.4 Mn Read More »
If each phone number and each bank account can be traced and leads the authorities to the culprit, this menace can be checked to quite an extent. The RBI’s latest six amendments to KYC rules is a step in the right direction – proper implementation must be ensured by instituting strict regulatory mechanism.
Global fintechs saw a sharp fall in funding, with the majority of the funds coming from AZ NGA, who raised around USD 240 million this month, as per data by 1Lattice.
The National Payments Corporation of India (NPCI) on Monday partnered the Metropolitan Transport Corporation (MTC) here to integrate RuPay on-the-go, a contactless payment solution for transit.
Earlier WhatsApp could provide UPI services to up to 100 million users. India is the biggest market for WhatsApp with 500 million users. The limit has been lifted since the UPI infrastructure is better now
The bankruptcy of banking-as-a-service startup Synapse Financial Technologies left thousands of fintech customers without access to funds held in accounts that were, in some cases, advertised as protected by the Federal Deposit Insurance Corp. The debacle has put partnerships between banks and fintech startups in the regulatory hot seat and accelerated a wave of enforcement …
Regulation, deals and crypto: Fintech themes to watch in 2025 Read More »
Basic Home Loan, a fintech start-up, secured $10.6 million in Series B funding. The funds will be used to grow its market presence, develop its lending book, and upgrade technology. They are targeting significant loan disbursement growth and have assisted over 250,000 families since 2020.
