Both companies have taken large office spaces within the International Financial Services Centre (IFSC) to set up their operations under the TechFin framework, through which they will focus on services aligned with financial technology catering to their global clients.
The Central Bank Digital Currency (CBDC), or e-rupee, has seen significant growth among retail users. As of March 2024, e-rupee circulation reached ₹234.12 crore, up from ₹16.3 crore a year earlier. The increase is attributed to big banks promoting CBDC wallets and the RBI allowing interoperability with the Unified Payments Interface.
UPI new feature: NPCI has introduced an auto top-up feature for UPI Lite, allowing users to automatically reload their wallets when the balance falls below a set threshold. This eliminates the need for manual reloading of the UPI Lite wallet, making small-value transactions more convenient. How will the auto top-up feature on UPI Lite work? …
With a TPV of USD 1,545 billion, PhonePe surpasses industry giants such as PayPal, Stripe, and Adyen, solidifying its position at the forefront of the payments sector.
India’s FinTech sector is booming, with 8,908 active companies and having raised about USD 38.3 billion till now. As the industry rapidly expands, key players like Paytm, PhonePe, and Razorpay are leading the charge. ETBFSI gives its readers a list of the top 10 most valued fintechs in India, how much funds they raised, their …
Top 10 most valued FinTechs in India: Here’s the list Read More »
UPI transaction limit change: The National Payments Corporation of India (NPCI) has increased the transaction limit for certain payments using UPI to Rs 5 lakh, making it easier for individuals who use online payments. This move aligns with India’s push for a digital economy. The increased limit is likely to be effective from September 16, …
Razorpay’s Harshil Mathur discusses their omnichannel payment evolution, future growth in offline payments, international expansion towards south east asia, and the potential of India’s FinTech ecosystem.
A recent survey reveals a significant shift in leadership dynamics in the FinTech industry, with Generation X (35-50 year olds) poised to dominate top positions globally, accounting for 51% of leadership roles.
India’s fintech landscape has witnessed significant growth, with payments and lending sectors dominating the funding landscape, according to a recent report by Beams FinTech Fund and JM Financial. These two sectors have captured a staggering 85% of total funding, with payments receiving $11.8 billion and digital lending garnering $9.8 billion.
It plans to apply for a payment aggregator licence with the RBI and has recently received approval for foreign direct investment from the Indian government.
