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Shardeum, an autoscaling Layer 1 blockchain, is set to revolutionize payments with its PayFi initiative, targeting both micro and macro transactions. Aiming to become the Internet’s default payments layer, Shardeum’s architecture allows for expansion based on demand, ensuring transaction fees remain exceptionally low, around $0.01 or less. The mainnet launched on May 5th.
India’s Fintech sector continues to grow rapidly and is now entering a new phase focused on product diversification, smarter risk management, and deeper financial inclusion, according to a report by TransUnion CIBIL
Subhash Mundra, Manoj Agarwal, and Ashutosh Sharma join as directors, bringing the board’s member count to 11.
The fintech sector lenders are drawing a younger and more rural customer base, with 61 per cent of borrowers being under the age of 30, and 24 per cent residing in rural areas, a report showed on Thursday.
SME lender Oxyzo, backed by Tiger Global and Alpha Wave, grew assets by 25% YoY to ₹9,236 crore in FY25. It reported ₹1,211 crore income and ₹339 crore PAT, with ₹6,028 crore in debt support from major lenders.
PayPal Payments Pvt Ltd (PayPal), the Indian subsidiary of PayPal Holdings Inc, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border-Exports (PA-CB-E).
Prior to this appointment, Kumar was the founding CEO of Magnati, a prominent payments company in the UAE and a subsidiary of First Abu Dhabi Bank (FAB). At Magnati, he led the transformation of payment infrastructures and drove significant business growth. His earlier roles include Executive Vice President at FAB, where he oversaw digital banking …
Paytm names Ramana Kumar as CEO of Middle East Operations Read More »
Finwizz and Wishfin are merging to form a tech-driven, omni-channel financial distribution platform targeting IPO in 24 months. The combined entity leverages Finwizz’s distribution and Wishfin’s digital strengths, aiming to scale credit aggregation and attract strategic capital.
Union Finance Minister Nirmala Sitharaman on Tuesday said India’s fintech companies are helping the country’s digital public infrastructure (DPI) expand further and empower merchants and micro, small and medium enterprises (MSMEs).
