Worldline receives RBI nod to operate as online payment aggregator
The RBI authorisation enables Worldline ePayments India to act as a cross-border payment aggregator for exports and imports.
Fintech News
Category Added in a WPeMatico Campaign
Union Minister Goyal, Paytm Chief Talk Scaling UPI, Empowering Kiranas, Exporting Digital Innovation
The conversation focused on the potential to export India-made payment systems to the world — a domain where Paytm has been a pioneering force with innovations like mobile payments, QR based payments, Soundbox, card machines and UPI-based services.
Groww parent firm files IPO papers via confidential filing route; seeks to raise up to USD 1 bn
Billionbrains Garage Ventures, the parent company of stock broking firm Groww, has filed draft papers with Sebi for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise between USD 700 million and USD 1 billion
Online payment aggregators focus on anti-fraud tech to up revenues
Facing intense competition and pricing pressures in the core payments business, large payment aggregators in India, such as PayU, Razorpay and PhonePe, are developing and deploying fraud detection software platforms for banks and fintech companies. They are pitching these tools to banks, offering them a higher degree of safety for their customers as well as …
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Getepay receives RBI approval to operate as online payment aggregator
Getepay, a digital payment platform, has secured final authorisation from the RBI to operate as a Payment Aggregator online. Aiming to empower SMEs, particularly in Tier 2, Tier 3, and rural areas, Getepay plans to scale its operations and broaden its merchant offerings across India.
Listed fintechs feel the pinch of lenders going slow on unsecured lending
A slowdown in unsecured loan disbursals by banks and NBFCs has hit fintech firms like Paytm, MobiKwik, and Paisabazaar. These companies are shifting focus to secured lending and payments. Regulatory nudges and risk aversion have limited fintechs’ role in underwriting, affecting growth and revenue from financial services in FY25.
MobiKwik’s net loss widens to Rs 55 crore as revenue growth remains flat
Mobikwik parent One MobiKwik Systems reported an operating revenue of Rs 265 crore, almost flat against the Rs 268 crore reported in the December quarter. MobiKwik’s business was impacted by a slowdown in its lending operations, which reduced its contribution margins to 30% from 37% and also slowed disbursals.
Niyo simplifies travel banking with express card delivery
Niyo has introduced Niyo Express, a 24-hour doorstep delivery service for its international debit card, aimed at last-minute international travellers. Currently available in Bangalore, Delhi NCR, Mumbai, and Pune, the service offers swift card delivery, KYC verification, and account setup. A Niyo survey reveals that 39 per cent of international travellers make spontaneous travel plans, …
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PhonePe’s 5% dilemma: Payments still dominate revenue as it gets IPO-ready
PhonePe, backed by Walmart, is preparing for an IPO. The company’s revenue heavily depends on its payments business. Financial services contribute a small portion to its total income. Rivals like Paytm generate more revenue from financial services. PhonePe’s insurance business is growing. Its credit business is still in early stages. The company’s valuation and IPO …
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Groww to Buy Startup Fisdom in All-cash Deal
Groww is set to acquire Fisdom in an all-cash deal valued between $140 million and $160 million, pending regulatory approval, to expand its wealth management offerings. Fisdom’s founders and team will remain, continuing to serve over a million customers. This acquisition occurs as Groww prepares for a $700 million IPO and a $250-300 million funding …