Fintech

Bengaluru (Karnataka) [India], PayGlocal, a leading cross-border payment solutions provider, is thrilled to announce that it has received final authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator. This significant milestone allows PayGlocal to officially commence the onboarding of merchants, further cementing its position as one of the emergent …

PayGlocal gets RBI nod to operate as an online merchant payments company Read More »

Indian students represent 25 per cent of Niyo’s clientele, making this move a strategic alignment with a growing segment. In 2023 alone, over 1.3 million Indian students went abroad for higher education, a number expected to surpass 1.5 million by 2025. Niyo is aiming to capture 50 per cent of this market by FY26.

The Fintech Association for Consumer Empowerment (FACE) aims to include smaller companies to enhance its representation and effectiveness. Recognized by the Reserve Bank of India as a Self-Regulatory Organisation, FACE plans to expand its membership, set up committees, and work on a fraud repository in collaboration with various authorities.

Uttarakhand Finance Minister Premchand Aggarwal stated that the GST Council did not reach a decision on imposing 18 per cent GST on payment aggregators for transactions under Rs 2,000. The matter will be reviewed by the fitment committee. Additionally, the issue of GST on Research and Development will also be referred to the committee. Aggarwal …

GST on online transactions up to Rs 2,000 to be referred to fitment committee: Uttarakhand FM Premchand Aggarwal Read More »

Worldline has been a key player in Uttar Pradesh, deploying thousands of POS terminals in both urban and rural areas.

The company has expanded its services for SMBs by integrating forex and risk analytics solutions with its core trade financing products.

PayGlocal is an international payments-focused startup and has also applied for a cross-border payments licence. That application is still being processed by the central bank. The company expects to receive this licence in due course from the Reserve Bank of India (RBI).

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 1.74 billion in August 2024, while the top 20 deals summed up to about USD 1.49 billion.

Secretary, DFS believed that India’s robust banking system is getting ready to meet the needs of Viksit Bharat. He highlighted the importance of Digital Public Infrastructure, the role of banks in inclusive growth, and the need for robust systems to manage risks and support future economic ambitions.

Fintech funding has seen a significant uptick in August, with a notable increase in the amount raised compared to the previous month. This surge in funding comes after a year of decline in fintech and tech startup funding, commonly referred to as a “funding winter.” Interestingly, early-stage deal funding has seen an increase, while late-stage …

FinTech Funding August 2024: Total $507 mln raised by Indian FinTechs Read More »