This follows the in-principle nod that the Naspers-backed fintech firm received from the RBI to operate as a payment aggregator, which allows it to onboard merchants onto its platform. In addition to the integration, PayU will introduce the Amazon Pay Later service on its offers engine platform.
The credit line on UPI could exceed $1 trillion in transaction value by 2030, according to Zeta. Key drivers include rising credit demand, a shift towards digital payments, and improved credit discovery and utilization. UPI credit lines provide banks with alternative data for better credit assessments, especially in under-served regions.
Money management startup INDmoney on Thursday announced UPI-based instant withdrawals for investors from their stock trading accounts on its platform.
PB Fintech has seen a 110% surge in share price this year, making it the top performer among major financial technology firms globally. The company’s profits have soared, driven by the revival in unsecured lending. PB Fintech reported a net profit of Rs 60 crore in the June quarter, with substantial growth in insurance premiums …
Up 110%, PB Fintech bags crown of world’s best performing fintech stock of 2024 Read More »
Super.Money, the fintech wing of Flipkart, debuted its credit-first UPI app post a beta phase with 10 million transactions. Collaborating with Utkarsh SFB and Axis Bank, it offers a Rupay credit card as a wallet. The venture plans to introduce new financial products, targeting a significant position in India’s UPI sector.
Paytm will sell its entertainment ticketing business, including TicketNew and Insider, to Zomato for Rs 2,048 crore, the company announced. This deal, set to transition over a year, would move around 280 Paytm employees to Zomato. The sale aims to bolster Paytm’s balance sheet and refocus on core financial services.
Rajesh Kini joins Perfios from Infosys, where he served as CFO of their product subsidiary and headed the Corporate Accounting Group.
The sale is seen as a strategic realignment, allowing the company to reallocate resources and strengthen its market position amidst growing competition in the fintech sector.
One 97 Communications, managing Paytm, will hold its annual general meeting on September 12. The firm released its FY 2023-24 annual report on Wednesday. Despite an increase in consolidated loss to Rs 838.9 crore for Q1, Paytm anticipates improvement from Q2 FY 2025 through cost optimization and enhanced operating metrics. Revenue and EBITDA before ESOP …
Paytm parent One 97 Communications to hold its 24th AGM on September 12 Read More »
The company has launched facilitation of two-wheeler loans and Loans Against Mutual Funds (LAMF) for its existing merchant partners in the first phase.
