NRAI cautions restaurants about the dangers of aggregator payment gateways
The association emphasised that deep discounting presents substantial economic hurdles to the restaurant business.
Fintech News
Category Added in a WPeMatico Campaign
Aim to become ‘backbone’ for innovative fintech experiences across India, APAC: FinBox CEO
The ‘FinBox Data Platform’ comes preconfigured with our data products. It covers bureau and alternate data sources to enable real-time intelligent underwriting for loan applications.
RuPay On-The-Go: NPCI launches campaign to promote efficient, seamless transit
The ‘RuPay On-The-Go’ campaign highlights RuPay NCMC’s role as the ideal companion for dynamic individuals who value time and efficiency. By enabling multimodal utility across metros and buses, the campaign connects seamlessly with the everyday needs of commuters.
MobiKwik IPO opens for subscription on Wednesday. Check GMP, price band, other details
One MobiKwik IPO GMP: The initial public offering (IPO) of One MobiKwik Systems, a digital payments platform, will open on December 11, aiming to raise Rs 572 crore. The IPO features a price band of Rs 265-279 per share and includes a fresh issue of up to 2.05 crore equity shares.
Paytm shares hit 52-week high after surging over 3%
Paytm’s shares surged over 3% after announcing the sale of its stake in Softbank’s PayPay Corporation. The divestment, valued around ₹2,000 crore, propelled Paytm’s market capitalization to nearly ₹64,110 crore, with shares hitting a 52-week high. This occurred amidst a slight dip in both the BSE Sensex and NSE Nifty.
Paytm to sell 5.4% stake in Japan’s PayPay in $250 million deal
Paytm is selling its 5.4% stake in Japan’s PayPay Corporation to SoftBank for an estimated $250 million, boosting its cash reserves. This move aligns with Paytm’s strategy of focusing on core payments and financial services businesses after divesting non-core assets like its entertainment ticketing platform.
VoloFin raises $50 million funding from top global bank
VoloFin, a fintech platform, secured a $50 million funding line from a major global bank to support SMEs in India and globally. The company plans to expand operations, facilitate Indian export growth, and increase the funding limit to $150 million in the next few years.
Credit line on UPI: Now you can get it from small finance banks too
Credit line on UPI was launched in September 2023 and was made available to scheduled commercial banks, it has now been decided to permit small finance banks to sanction credit line on UPI, the RBI stated.
FX-Retail platform to be linked to NPCI Bharat Connect: Easy access through bank, non-bank payment apps
The Reserve Bank of India (RBI) has proposed to link the FX-Retail platform with Bharat Connect platform of National Payments Corporation of India (NPCI).
MobiKwik sets IPO price band at Rs 265-279, valuation cut to around $250 million
In January this year, MobiKwik had filed its draft papers for an IPO seeking to raise Rs 700 crore. The issue was much smaller than its initial plan to raise Rs 1,900 crore three years ago, when it had made the first attempt to go public.