While there has been a funding winter in startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTechs across the globe raised about USD 2.53 billion in November, while the top 20 deals summed up to about USD 1.94 billion.
Singh, who in the past has been also the chief executive of Axis Bank subsidiary and digital payments app Freecharge, will be responsible to scale up Indifi’s core platform, and will overlook key functions including product, distribution, lending partnerships, treasury, risk and technology.
Bitcoin has been on a tear this year on expectations that regulators will allow the first US spot Bitcoin exchange-traded funds, widening the potential base of crypto investors. Bets that the Federal Reserve will cut interest rates next year also encouraged a rally in virtual currencies. Read on to know more:
Teng has indicated that he plans to adopt a conventional corporate structure for the world’s largest crypto exchange, including naming a headquarters and board of directors, as well as providing greater financial transparency.
Walmart, the world’s biggest retailer, said its digital payments firm PhonePe has a total payment value (TPV) of $1.3 trillion, equalling some of the largest fintech players in its home market of the US, indicating the Indian firm’s market cap potential when it lists.
Bitcoin has surged more than 60% since the middle of October, when speculation jumped that the Securities and Exchange Commission was on the verge of signing off on ETF applications from the likes of asset management powerhouse BlackRock. The token was trading at about $44,100 on Friday. Read on to know more:
RBI proposes to increase UPI auto payments limit to Rs 1 lakh without OTP for e-mandates like mutual fund subscriptions, insurance premiums, and credit card repayments. Previously, OTP was required for payments exceeding Rs 15,000. This exemption will apply to transactions up to Rs 1 lakh for recurring payments of mutual fund subscriptions, insurance premium …
No OTP authentication required for these UPI auto payments up to Rs 1 lakh Read More »
The fintech world which has seen a huge disruption in the last few years, is set to consolidate on the growth and see more advances in areas such as AI and machine learning.
Large NBFCs like Aditya Birla Finance and Poonawalla Fincorp have informed the fintech startups they do business with that they will no longer provide capital for the highly risky buy-now-pay-later (BNPL) and very small ticket size consumer loans.
Unveiling the monetary policy, Reserve Bank Governor Shaktikanta Das said the limit for various categories of unified payments interface (UPI) transactions has now been enhanced to Rs 5 lakh per transaction from the present Rs 1 lakh for payments to hospitals and educational institutions.
