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FinTechs have started pouring in their expectations from Union Budget 2024 — from policy announcements on CBDC, increased credit corpus for MSMEs, incentives for further innovation in the sector and much more. Here’s what they expect:
Paytm is focussed on acquiring new users who can be monetised, founder Vijay Shekhar Sharma said. Sharma added that by using artificial intelligence in code generation, the company is seeing accelerated deployment of technology updates and is also bringing in operational efficiencies. “Our approach has been led by multiple devices like soundbox, card machines and …
Paytm scaled down one of its most popular credit products Paytm Postpaid in December. The impact of this on Paytm’s business became evident on January 19, when the company reported its December quarter financials. For the Noida-based payments major, credit is an important cornerstone of its business. So, how is the slowdown in consumer lending …
Paytm lending decoded: Where does it stand after slowdown in small-ticket credit? Read More »
Full-stack fintech platform Razorpay on Monday launched an industry-first ‘instant refunds’ feature on failed unified payments interface i(UPI) transactions in the country. The solution by Razorpay POS will provide instant refunds for failed UPI transactions within two minutes, as against the industry benchmark of 5-6 business days, said the company.
The company, which currently employs 150 staffers, has earlier raised external capital in two rounds of seed funding in 2020 and 2022 from investors such as BLinC Invest and Prime Venture Partners. Founded in 2019, FinAGG uses both OCEN and GST Sahay for its supply-chain financing business and also has some of its products being …
Fintech startup FinAGG raises $11 million in funding from Tata Capital, BlueOrchard Read More »
One 97 Communications reports narrowing losses to Rs 221 crore in Q3 2023. Revenue from operations increased to Rs 2,850 crore, with 38% YoY rise. Paytm focuses on acquiring leadership, introducing new use cases, and extending offerings in financial services. It plans to invest Rs 100 crore in GIFT City for cross-border remittances. Paytm’s share …
Paytm Q3: Losses narrow; revenues up 38% year-on-year Read More »
Paytm’s net loss for the latest quarter decreased to 2.2 billion rupees ($26.5 million), beating analysts’ estimated loss of 2.55 billion rupees. The fintech company achieved operating profitability last year and plans to use artificial intelligence to further reduce expenses. Paytm also disbursed 4.9 billion rupees in high-value loans and saw growth in its devices …
Paytm posts narrower loss as payments business grows Read More »
UPI, an instant payments system, introduced by the National Payments Corporation of India (NPCI) in 2016. It has since become a game changer in India’s payments ecosystem, easing payments and transfers, and playing a major role in accelerating digital adoption in the country.
According to a recent report by S&P Global, the long drawn-out bearish cycle for startup funding may be showing signs of a bottom. To the industry’s relief, the most recent quarter registered a slowdown in declines across most fintech segments and geographies after several quarters of high double-digit declines.
Bitcoin fell 3.2% to $41,381 in early trading on Friday, while Ethereum fell 2.5% to $2,467. “The market is witnessing an unexpected downward trend as BTC faces selling pressure due to heavy outflows from ETPs to new spot ETF issuers,” said Shivam Thakral, CEO of BuyUcoin. Read on to know more:
