Category Added in a WPeMatico Campaign
Piyush Anchliya, former CFO of Bandhan AMC (formerly IDFC Asset Management Company), has been appointed Chief Financial Officer at Cashfree Payments. He joins as the company expands its operations with three RBI licenses—PA-PG, PA-CB, and PPI.
Fintech startup Cred is in talks to raise $100–200 million at a reduced valuation of around $4 billion, down from $6.4 billion in 2022. Backed by investors like GIC and Peak XV, Cred is focusing on profitability and may consider an IPO in two years amid improved revenue and reduced cash burn.
You have 500 million people using DPI, UPI as a way of life, and that idea, that way of thinking of how do you bring large population, especially the people who probably do not have formal access to the economy, bring them together closer and make government, public, private sector all come together to serve …
UPI no more a technology, it’s a population-scale habit: FIDE CEO Sujit Nair Read More »
MobiKwik cofounder Upasana Taku sees immense growth potential in India’s fintech sector, driven by digital payments and expanding financial services. With only 10% of Indians using multiple financial products, opportunities abound. The company aims for 10 fold growth through diversification, innovation, and a focus on profitability despite macroeconomic and regulatory headwinds.
This announcement comes after Findi raised AUD 45 million (INR 243 crore), acquired Tata Communications Payment Solutions and its Indicash brand, expanded its ATM network with SBI, and secured a INR 500 crore mandate from Union Bank of India to deploy ATMs across India, earlier this year.
UPI outage today: According to Downdetector, complaints regarding UPI services surged were over 1,000 as of noon, with payments and fund transfers being the most reported problems.
UPI faced its third outage in less than a month, causing partial decline of online payments. NPCI stated that the outage is caused due to intermittent technical glitch and that efforts are underway to restore online transactions.
A recent fintech report reveals a significant trend in India’s digital payments landscape. Credit-based transactions, including credit cards and EMIs, constitute one-third of merchant payments in 2024. UPI dominates with 65% of digital transactions, while recurring payments increasingly utilize UPI autopay, particularly in utilities and government sectors.
NPCI has recently disabled QR-based international share and pay UPI transactions, impacting P2M payments starting April 4, 2025. This change restricts users from making payments by scanning shared QR codes, though live scanning at physical locations remains possible. Additionally, loading wallets via collect requests is now prohibited to enhance transaction security and reduce fraud risks.
HDFC Bank will conduct system maintenance, impacting UPI services. Customers are advised to use PayZapp as an alternative. Kotak Mahindra Bank also schedules maintenance on the same day, from 1:00 AM to 4:00 AM, affecting a wider range of banking services.
