Fintech

UPI transactions hit a new record of Rs 17.4 lakh crore in November 2023, a 54% YoY increase in terms of the number of transactions and a 46% YoY increase in terms of value.

Driving innovation, security, and user-centric solutions would remain a focus as fintech players enter the New Year

The fintech lending industry continues its upward march with increasing disbursements, showing a promising future for the industry. A recent report by Home Credit revealed that most borrowers today are online-pro and prefer online channels when opting for loans.

The approval from the RBI reinforces EnKash’s commitment to compliance and adherence to the highest standards in the financial technology industry. The regulatory approval reaffirms EnKash’s position as a trustworthy player in the fintech space, and the company is now poised to bring further innovation to the B2B payment business.

FinTechs have been innovating and transforming the financial services sector with new products and offerings, tech-advanced features, and with a focus on customer centricity. According to latest exclusive data by Tracxn Polygon, Paytm, PhonePe, Razorpay, CRED were some of the top fintechs in terms of valuation as of Calendar Year 2023. Here’s what the data …

Year Ender 2023: Top 10 high valued FinTechs of this year Read More »

Paytm plans to revamp its online wealth management services and hire more than 50,000 salespeople to get more merchants on its network, aiming to hit profitability sooner than targeted.

RBI approves Razorpay and Cashfree as payment aggregators, allowing them to onboard new merchants and accelerate growth. Other companies receiving approval include Google for Google Pay, Enkash, Payments, and Open Financial. Paytm and PayU still under embargo. These fintech startups are exploring alternate business models to maintain revenue. RBI conducted thorough checks to select companies …

Razorpay, Cashfree, Google Pay get RBI nod for payment aggregator business, Paytm and PayU still ‘barred’ Read More »

Last week, in a board meeting, the directors approved the fundraise, ET has learnt. The company has also approved the appointment of Colin Bryant, chief operating officer of private equity and general partner at US-based hedge fund, Coatue, to its board. The fintech company needs to raise both equity and debt to expand its credit …

BharatPe to raise Rs 500 crore debt over the next year; makes new board appointments Read More »

The initiatives undertaken by the government to promote digital transactions include incentive scheme for promotion of RuPay Debit cards and low-value BHIM-UPI transactions (P2M), advisories by the Government of India to various stakeholders to improve payment acceptance infrastructure, allocation and monitoring year-wise digital payment transaction and merchant acquisition targets to the public and private sector …

UPI major driving force in growth of digital payment: MoS Finance Read More »

Ebix Inc was facing a debt crisis for several months, finding it difficult to repay $650 million dues to lenders. The company has also submitted a stalking horse bid (a bid chosen for a company that is facing bankruptcy, chosen by the target bidder) for $400 million. Read on to know more: