Small merchants join UPI, size of payments falls
Average ticket size of UPI transactions fell 8% to ₹1,515, while average credit card ticket size rose 8% to ₹5,276, according to data from Worldline.
Fintech News
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Only 22% of unicorns were started by solopreneurs in last decade: PrivateCircle
In the last decade, Indian unicorns saw 22% started by solopreneurs and 78% with two or more co-founders. Cofounder unicorns had 32% higher revenue. Bengaluru was a top headquarters, focusing on fintech. Effective resource utilization emphasized for success.
Twid appoints Monica Jasuja as chief growth and partnership officer
Twid, a rewards-based payment network, has appointed Monica Jasuja as its new chief growth and partnership officer. With 23 years of experience in consumer, internet, and digital financial services, Jasuja will lead the company’s issuer growth strategy and expand through partnerships. Twid, founded in 2020, has turned reward points into a fungible currency and received …
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Crypto’s memecoin fervor stalls as bets on Fed rate cuts recede
The prospect of fewer Fed interest-rate cuts is having an impact “across crypto, where there has been a selloff as the week gets underway — no sector is unaffected, especially those where prices have outperformed Bitcoin over last six months, for example memes,” said Stefan von Haenisch, head of trading at OSL SG Pte in …
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Goldman Sachs digital asset head says crypto rally driven by retail investors
No one knows for sure what is driving bitcoin’s latest gains, although analysts point to billions of dollars that have flowed into U.S. spot bitcoin ETFs which launched this year. McDermott said that the ETFs prompted a “psychological shift”. Regulators have long warned that bitcoin is a high-risk asset, with limited real-world use cases.
Cryptocurrency Price Today: Bitcoin falls 6% to $66,400 after release of US March manufacturing data
The total volume in DeFi is currently $10.72 billion, 9.07% of the total crypto market 24-hour volume. The volume of all stablecoins is now $107.54 billion, which is 91.05% of the total crypto market 24-hour volume, as per data available on CoinMarketCap. In the last 24 hours, the market cap of Bitcoin, the world’s largest …
Cryptoverse: Ether fettered by fate of spot ETF proposals
Unlike bitcoin, ether is traded on a so-called ‘proof-of-stake’ blockchain that allows users to earn yield in exchange for locking up tokens for a period of time. And because ether is often ‘staked’, or deposited, it could be deemed a security, which will entail stricter rules around disclosure that fly in the face of cryptocurrency’s …
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Rakuten Group aims to integrate bank, fintech units
The finances of the parent, centred on ecommerce platform Rakuten Ichiba, have suffered since its 2020 launch of a mobile carrier that led to 14 straight quarters of operating losses. To generate cash Rakuten has issued equity and debt and sold off assets, for example by listing Rakuten Bank in April 2023.
Cryptocurrency Price Today: Bitcoin holds above $70,000; Dogecoin, Toncoin climb up to 4%
The total volume in DeFi is currently $7.51 billion, 10.91% of the total crypto market 24-hour volume. The volume of all stablecoins is now $59.35 billion, which is 86.21% of the total crypto market 24-hour volume, as per data available on CoinMarketCap. Bitcoin’s dominance is currently 51.85%, according to CoinMarketCap. BTC volume in the last …
How interoperability oiled the wheels of mobile payments
RBI’s netbanking interoperability aids fintech growth. Amit Kapoor recommends infrastructure interoperability. Rohan Lakhaiyar highlights cost reduction benefits. Sunil Kulkarni praises UPI’s expansion. R Gandhi pushes QR-code harmonization for merchant digitization.