MobiKwik achieves full-year profitability in FY24
MobiKwik recorded profitable growth in FY24 with a total income of Rs 890.32 crores, registering a 58.67 per cent increase over the previous year.
Fintech
India’s Account Aggregators cross 100 mn consents, to reach 30 pc of population by FY25
In a remarkable achievement of the country’s fintech ecosystem, total number of successful consents on the Account Aggregator (AA) framework has crossed 100 million in three years (as of August 15) , a report said on Tuesday.
Explainer: What is UPI Circle? How will it work for multiple users?
What is NPCI’s recently introduced UPI Circle? How does it work? What does the NPCI guidelines suggest? ETBFSI brings to its readers a detailed explainer on this new feature by NPCI that aims to promote digital payments and enhance the overall user experience.
UPI market share cap delay likely to keep online payments pie unchanged
The 30% market share cap in the UPI segment was considered improbable with only a few months left until the deadline. Newcomers revised their plans as PhonePe and Google Pay retained dominance. The government had not yet provided an official stance to the NPCI on this matter. On the other hand, NPCI has been allowing …
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Paytm could achieve profitability by 2027, upside lies in getting acquired by a bank or a corporate house: Bernstein
As a “middle path”, Bernstein suggested that if Paytm manages to attract a large investment for a sizable stake from a major corporate house, then there is a chance for the business to revive faster and also get some protection from future regulatory shocks.
Ghaziabad couple loses 3 crore in investment scam that started on Facebook: Here’s what happened
A couple in Ghaziabad lost Rs 3 crore in a cyber scam after being lured by a fake investment opportunity via a Facebook ad. They joined a WhatsApp group and made 22 transactions under false pretenses. After suspecting fraud, they reported the incident to local police, leading to an investigation under multiple sections of the …
VCs fire up wealthtech investments as stock market surge ignites HNI boom
VCs rush to extend funding support on seeing segment’s huge growth potential. Unlike the traditional wealth management services offered by banks, wealthtech firms use data analytics and the latest technologies to provide personalised investment strategies at a fraction of the cost.
New UPI scam alert: UPI autopay set up request could swindle money out of your account if you are not careful
UPI scam: Fraudsters are decoding your UPI ID to send spam UPI collect money and autopay requests. These requests are all genuine, however the request is being initiated by fraudsters. So instead of paying for Netflix subscription for your account, you may end up paying it for the fraudster’s account. Be careful about this new …
UPI Circle for delegate payments launched: Multiple people can use one UPI account; how to use UPI Circle, transaction limit
The National Payments Corporation of India (NPCI) has introduced UPI Circle-Delegate Payments, allowing multiple individuals to use one UPI account. The primary user can delegate another individual to make UPI transactions from her bank account. This feature aims to expand UPI usage, especially among those without bank accounts. How can you use UPI delegate payments? …
Freo eyes 25-30 pc growth in gross revenue this year; says sharply focused on profitability
Digital banking platform Freo is eyeing 25-30 per cent growth in its gross revenue for the current fiscal, co-founder Anuj Kacker said, adding that the company remains sharply focused on profitability. Kacker told PTI that RBI’s recent announcement on the creation of a public repository of Digital Lending Apps (DLA) linked to regulated entities is …