The huge amount of inward remittances to India every year and the freelancers and software service companies in India catering to global companies make cross-border payments a big opportunity for India. The Economic Survey for 2023-24 sees remittances growing 4% to $129 billion by 2025.
The Economic Survey 2023-24 calls for closing regulatory gaps in the fintech sector and aligning with global best practices. It emphasizes moving towards data-based lending instead of judgment-based lending, particularly for small businesses. The survey also suggests evolving a common approach for user data like KYC across regulators and highlights India’s goal to become a …
Eco Survey calls for need to plug regulatory gaps in fintech sector Read More »
The UPI payments space has seen an influx of new players in recent times. The entrants are challenging the dominance of PhonePe and Google Pay, which control more than 80% share of the market.
Paytm’s Q1 financials were mainly impacted by RBI’s action in March when it asked Paytm Payments Bank to halt banking services. As its loss widened and revenue fell, Paytm has not given any future guidance on profitability. Paytm said the fall in revenues is due to the reduction in certain operating metrics like monthly transacting …
Paytm to cut employee costs by Rs 500 crore as revenue plummets, losses jump Read More »
PAYTM-India’s Paytm posts wider Q1 loss on banking unit wind down
TechFini, a Mumbai-based fintech startup, has received approval from NPCI to operate as a UPI-based payment infrastructure provider. The company offers a range of products to simplify payment systems for banks and fintech companies.
OmniCard, a business spend management startup, raises $3 million in Pre series A round led by Ankurit Capital and Taisys.
The Indian fintech industry is forecasted to reach approximately $110 billion by 2024 and $ 420 billion by 2029 according to Ajay Kumar Choudhary, Non-Executive Chairman and Independent Director of the National Payments Corporation of India.
Hyderabad (Telangana) [India], Validus Fintech Services Pvt Ltd has successfully secured seed funding from AUM Ventures, an Abu Dhabi Global Market (ADGM) based India focused VC Fund, and other strategic investors.
Virendra Sehwag joins India-based fintech Getepay to empower merchants and spearhead the digital payment revolution in India.
