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The finance ministry has said no Merchant Discount Rate (MDR) will be levied on transactions through Unified Payments Interface platforms. “Speculation and claims that the MDR will be charged on UPI transactions are completely false, baseless, and misleading,” the ministry said in a post on X on Wednesday.
India’s digital payment system has been linked to various countries globally, a booklet, released on completion of 11 years of the NDA-ruled government led by Prime Minister Narendra Modi, said.
The fintech major was valued at $6.4 billion in 2022 during its last major fund infusion. The current fund infusion is in the form of primary capital, which means that existing investors have not sold any shares in this round. The drop in valuation was in line with the company’s plans to list in India …
Cred raises fresh funds from GIC, others; valuation cut by 45% to $3.5 billion Read More »
(Flexiloans), an MSME-focused digital lending NBFC, has closed a ₹375 crore Series C round led by Fundamentum, Accion Digital Transformation, Nuveen, Maj Invest, and welcoming British International Investment (BII) which, along with a ₹290 crore September 2024 funding, brings its total raise over six months to ₹665 crore.
Biz2X, a digital lending SaaS platform, aims to disburse Rs 17,000 crore in loans to MSMEs by fiscal year 2026, building on the Rs 14,000 crore facilitated in 2025. The company’s growth is fueled by AI-driven product enhancements and deeper solution integration. Expansion plans include Saudi Arabia, diversification of product portfolio and pushing AI-driven solutions.
India’s digital payments ecosystem has grown at a blistering pace — from 2,071 crore transactions in 2017–18 to over 18,000 crore in FY 2024–25.
Union Finance Minister Nirmala Sitharaman on Monday said that India is embracing a cashless revolution with world-class digital initiatives like unified payments interface (UPI).
Can FinTech companies build the future of financial services? How will tools like embedded finance, AI, and new regulations shape what comes next? Can startups grow fast while staying safe, stable, and trusted? Live from Conrad, Bengaluru; ETBFSI FinNext 2025 brings together top leaders and innovators in the FinTech world. Join us for powerful sessions …
FinNext 2025: A must-attend summit for every FinTech leader Read More »
RateGain has partnered with Razorpay to integrate flexible, secure payment solutions into its booking engine for hotels across India. The collaboration offers guests multiple digital payment options while enhancing operational efficiency for hoteliers. With travel bookings increasingly moving online, the integration supports RateGain’s AI-led focus on automation and guest experience, while aligning with India’s growing …
RateGain partners with Razorpay to enable flexible digital hotel payments Read More »
Mizuho Financial Group is set to acquire KKR-backed Avendus Capital for $700 million, marking Mizuho’s largest investment in India. The deal involves KKR’s exit and will give Mizuho up to 70% ownership. Avendus founders, excluding Ranu Vohra, will remain invested and manage the company, continuing its operations across financial services in India, the US, and …
Mizuho to acquire Avendus from KKR at $700 million valuation Read More »
