Fintech News

India’s UPI has outpaced top global digital payment platforms, processing nearly Rs 81 lakh crore transactions from April to July, marking a 37 per cent year-on-year growth. With 3,729.1 transactions per second, UPI topped Alipay, PayPal, and PIX. July achieved the highest monthly transaction value of Rs 20.6 lakh crore, sustaining above Rs 20 lakh …

UPI processed Rs 81 lakh crore worth transactions in April-July, up 37 per cent YoY Read More »

SBI Chairman CS Setty, at the fifth Global FinTech Fest 2024, spoke on the bank’s five-year digital transformation roadmap, focussing on YONO 2.0’s enhanced tech resilience and cybersecurity. He discussed new customer-focused offerings, fintech collaborations, and the expanding role of AI and GenAI in the bank’s future strategy.

Mumbai (Maharashtra) [India], PayU, one of India’s leading financial services providers, introduced its new solutions on Subscription Multiplier with cross border support and Cross-Border Issuer Authentication Solution – at the Global Fintech Festival 2024 (GFF). These innovative solutions aim to streamline and secure international transactions, offering merchants, issuers, and consumers seamless payment experiences across global …

PayU Pioneers the Future of Global Payments with Next-Gen Subscription Multiplier and Cross-Border Issuer Authentication Solutions Read More »

RBI ED Vivek Deep at the fifth global fintech fest revealed how India becomes a prime spot for fintech companies and startups to invest in India and build in India, what challenges are there and what can help the companies grow. Here’s what he said:

Fintech investment apps have revolutionised the way people invest in high-risk, high-return assets like stocks and mutual funds.

PM Narendra Modi at the fifth Global FinTech Fest praised the innovations by fintechs, how the sector has transformed over the past decade with UPI being the biggest fintech innovations by India and ONDC bringing inclusivity to online shopping. Here’s what he said:

Nandan Nilekani, co-founder and chairman of Infosys, has projected the ‘Finternet’ as the future of financing systems, offering a vision of India’s evolving fintech landscape. Speaking at the Global Fintech Fest (GFF), Nilekani described the Finternet as a user-centric and unified platform designed to encompass all types of assets through a universal infrastructure.

RBI Deputy Governor T. Rabi Sankar outlined key areas for Self-Regulatory Organisations (SROs) in fintech, urging them to foster competition, promote fair practices, enhance efficiency, ensure consumer value, and maintain fair pricing.

RBI Deputy Governor T Rabi Sankar spoke on the crucial role of Self-Regulatory Organisations (SROs) in facilitating two-way communication between the fintech industry and regulators, fostering trust, and ensuring responsible growth.

Indian startups typically take 3.5 to 4 years to go public after reaching unicorn status but more than 35 mature fintech firms (valued at $500 million and above) are potentially looking for an initial public offering (IPO) in the next few years, a report said on Thursday.