According to founder and CEO Arjun Ahluwalia, the NBFC licence opens the door for Jai Kisan to create and deliver tailored financial solutions to farmers and rural businesses. Also, the company is eyeing a fundraise in the next two to three quarters, largely to support its operationalisation.
NIPL announced that 100,00 cross border UPI transactions have been surpassed in Nepal.
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 1.87 billion in July 2024, while the top 20 deals summed up to about USD 1.36 billion.
The JP Morgan Payments biometric checkout solution uses enhanced facial identification technology to create a secure, reliable and convenient method for customer identification and payment authentication.
Indian payment firms are strengthening their presence in countries across the world. From the Middle East to the United Kingdom, Africa, and the United States, players like Juspay, Pine Labs, CCAvenue, and FSS are building domestic merchant payment systems there.
Nageswaran urged the industry to ensure that no damage is caused to the savings, incomes and wealth of the consumers in a country like ours having low financial literacy.
“During the quarter, the Bank’s Monthly Transacting Users (MTU) exceeded 88 million giving a boost to customer deposits, which grew by 53 per cent year-on-year to Rs 2,943 crore,” it said.
The Reserve Bank of India (RBI) has suggested the introduction of a “Delegated Payments” feature in UPI. Detailed guidelines for this will be provided soon.
Shaktikanta Das announced that the monetary policy committee has decided to enhance limit for tax payments through UPI to Rs 5 lakh from Rs 1 lakh per transaction.
Total global investment in fintech fell from $62.3 billion across 2,287 deals in H2’23 to $51.9 billion across 2,255 deals in H1’24.
