Fintech News

PAYTM-India’s Paytm reports wider Q4 loss on banking unit wind down

Decentro, recently became the youngest company to receive a Payment Aggregator license in February 2024. With Flow 2.0, it aims to address the comprehensive payment needs of businesses, promising high performance, full compliance with RBI regulations, and enhanced security.

Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company’s net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.

Bengaluru-based education lending FinTech, Propelld secures capital for its subsidiary, Edgro, a licensed NBFC, from nine lenders, including banks and NBFCs, to advance its mission in education lending.

QR Codes are replacing cash as the most preferred mode of payment in South Asia. Real-time payment systems, which provide the comfort of instant payments like cash while being secure and seamless, are also another big reason for the decline in cash use were among the key findings of the report.

Customers using Jupiter can automatically invest with its new Magic spends feature, which lets them invest into mutual funds or digital gold directly on every spends, removing the need to save money to invest. This helps millennials and genz specifically to invest, who have a tendency of overspending online and it also takes care of …

Jupiter introduces Magic Spends, enables auto-investing in mutual funds on every spend Read More »

The approval from Singapore’s court paves the way for Peak XV Partners-backed Pine Labs to shift its domicile to India. Multiple other companies of Indian origin including Meesho, Razorpay, Zepto and Udaan are in different stages of moving to India. PhonePe and Groww have already completed their migration to India.

Speaking on the quick Rs 500 disbursal, the CEO said it is due to the addition of more platforms which are getting more deeply engaged, as well as due to the product capabilities that we’re building. Notably, in a short period of time, the company has partnered with leading financial firms, including IDFC First Bank, …

Niro surpasses Rs 1,000 crores in overall disbursals, Rs 500 crores in last 7 months Read More »

Chennai lags behind Mumbai and GIFT City in fintech despite a rich banking history. The state govt’s Nov 2021 FinTech Policy aims to attract next-gen fintech firms. Key players like Yubi, M2P Fintech, Kaleidofin, FSS, and FinBlue are shaping tech-enabled financial services. The city is developing FinTech City within city limits to support fintech growth.

Industry insiders told us that while new PoS terminals are still being deployed, it’s mostly in organised and large format retail, which offer all payment forms. However, grocery shops, smaller stores and eateries are tilting towards QR code-based UPI transactions.