Fintech News
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India’s fintech lenders draw younger, more rural customer base: Report
The fintech sector lenders are drawing a younger and more rural customer base, with 61 per cent of borrowers being under the age of 30, and 24 per cent residing in rural areas, a report showed on Thursday.
PayPal receives RBI nod to operate as cross-border payment aggregator
PayPal Payments Pvt Ltd (PayPal), the Indian subsidiary of PayPal Holdings Inc, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border-Exports (PA-CB-E).
Paytm names Ramana Kumar as CEO of Middle East Operations
Prior to this appointment, Kumar was the founding CEO of Magnati, a prominent payments company in the UAE and a subsidiary of First Abu Dhabi Bank (FAB). At Magnati, he led the transformation of payment infrastructures and drove significant business growth. His earlier roles include Executive Vice President at FAB, where he oversaw digital banking …
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Finwizz and Wishfin merge to build a leading omni-channel financial platform, eye IPO in 24 months
Finwizz and Wishfin are merging to form a tech-driven, omni-channel financial distribution platform targeting IPO in 24 months. The combined entity leverages Finwizz’s distribution and Wishfin’s digital strengths, aiming to scale credit aggregation and attract strategic capital.
India’s fintech firms empowering merchants and MSMEs: FM Sitharaman
Union Finance Minister Nirmala Sitharaman on Tuesday said India’s fintech companies are helping the country’s digital public infrastructure (DPI) expand further and empower merchants and micro, small and medium enterprises (MSMEs).
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.
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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