Fintech News

Former Head of Consumer Banking at Kotak Mahindra Bank, Virat Diwanji has been appointed as the Additional Director at Zaggle.

Global FinTech funding rebounded in September 2024, reaching USD 2.2 billion, up from USD 1.74 billion in August, according to latest data by 1Lattice. This uptick signals a potential recovery in the sector, with top FinTechs securing significant investments from major investors.

Paytm is prioritizing rebuilding its consumer payments business after facing regulatory setbacks. The company lost a significant number of users due to RBI restrictions on its payments bank operations. To regain lost users, Paytm is focusing on the consumer payments business and exploring new opportunities like the Third-Party Application Provider (TPAP) model.

Manmeet Singh Dhody, who was the CTO of payments till now, moves into the role of AI Fellow.

India’s fintech sector saw a significant decline in investments in September 2024, with total funding dropping to USD 230 million from 10 rounds. This downward trend mirrors the global landscape, where fintech funding has been experiencing a slowdown.

While Unified Payments Interface, commonly referred to as UPI, has been a resounding success worldwide, more work is required to break barriers of language, location, and gender, said Sharath Bulusu, Director, Product Management, Google Pay on Friday.

Paytm’s employee costs rose significantly in FY24, despite regulatory challenges and business slowdown. The company increased the remuneration of its CFO, Madhur Deora, by 15%, while the founder and CEO, Vijay Shekhar Sharma, did not receive a raise. Paytm has also faced several executive departures and is focused on reducing employee expenses and improving its …

Paytm parent’s staff costs rise 21% in a challenging year Read More »

In a move to simplify and digitize National Pension System (NPS) contributions, NPCI Bharat BillPay Ltd (NBBL) has collaborated with PFRDA to bring NPS onto the Bharat Connect platform. This integration allows users to seamlessly invest in their NPS accounts through popular digital payment apps and banking channels.

Cred, a fintech unicorn, has generated revenue from payments, credit and insurance. The company reined in marketing expenses despite promotions during IPL in the financial year.

Unified Payments Interface (UPI) which had crossed the 11 billion mark in October with 11.41 billion transactions, 12 billion mark in December with 12.02 billion transactions, 13 billion mark in March 2024 recording 13.44 billion transactions and 14 billion mark in May with 14.04 billion transactions, has witnessed a modest increase in September, crossing the …

UPI clocks 500 mln daily transactions, crosses 15 bln volume mark in Sept’24 Read More »