Fintech News

ZOLVE-Fintech Zolve raises $251 million in its largest funding round yet

Users will soon be able to delink their old or inactive mobile numbers from UPI IDs easily. Starting March 31, 2025, UPI banks and PSPs must regularly update their internal databases, at least on a weekly basis, to reduce errors due to recycled or churned numbers. Explicit user consent will now be required for porting …

UPI ID linked to inactive mobile number? With this move of NPCI, it will be hard to misuse your UPI ID with recycled number Read More »

​”Progcap has introduced ProgShakti Development Program, wherein women entrepreneurs can access loans of up to Rs 10 lakh and get certified through capacity-building knowledge sessions helping them grow their businesses,” it said.

The government is considering reinstating merchant charges on UPI and RuPay debit card payments for large merchants, which were waived in 2022. Fintech companies argue that these businesses can handle the fees, and the current subsidies to cover processing costs are insufficient for sustaining operations.

Global fintech funding saw a slight decline, with SelectQuote leading the pack, raising USD 350 million from Bain Capital, Morgan Stanley, and Newlight Partners. Tabby followed with USD 160 million from Blue Pool Capital, Hassana, STV, and Wellington, while Solaris secured USD 152 million from the SBI Group.

At the ETBFSI CIO Digital Conclave 2025, Sanjeev Yadav, Director (Authentication), UIDAI, discussed technological advancements shaping the payments ecosystem, emphasising Aadhaar’s impact on banking and its approach to GenAI challenges.

“With increasing digital payment transactions in the country, incidences of fraudulent practices, including digital payment frauds, have also gone up in the last few years,” Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha.

Indian FinTechs raised a total of USD 144.75 million, across fourteen deals, compared to USD 100.38 million in January. Bengaluru based Cashfree Payments managed to bag USD 53 million in its series C funding, followed by Zeta that secured USD 50 million in Series D.

At ETBFSI CIO Digital Conclave said that customer-centric innovation, security-first approaches, and trust-building will be key drivers of change as AI and digital transformation reshape the financial sector.

The digital payments firm currently processes around $1 billion in TPV in Southeast Asia, said cofounder and MD Shashank Kumar.