Fintech

With over 20 years of experience in the financial sector, Kiran Singh will play a key role in ensuring RING’s compliance and governance standards.

Bangalore (Karnataka) [India], Accel is set to host India’s largest Cybersecurity Summit on July 25, 2024, in Bengaluru. To evangelise the early-stage cybersecurity startup ecosystem in India, this event will bring together security operators, CISOs, and notable founders from around the world. The summit will provide a platform for startups to showcase their cybersecurity innovations …

Accel To Host India’s Largest Cybersecurity Summit Read More »

One97 Communications, the parent company of Paytm, underwent layoffs in June without specifying the number affected, offering outplacement support for transitioning employees. Despite questions about senior-level departures, founder Vijay Shekhar Sharma assured that all is well. Paytm’s sales team decreased by 3,500 to 36,521 personnel due to regulatory impacts from the RBI’s restrictions on Paytm …

Vijay Shekhar Sharma breaks silence on why senior-level employees are leaving Paytm; here’s what he said Read More »

The government-backed Open Network for Digital Commerce’s (ONDC) has added one million monthly transactions over the past two months. The report said that ONDC has reduced financial incentives tied to order volume for network participants by as much as 75% starting in the second quarter of fiscal year 2025.

Paytm Payments Bank faces audit qualification disputes over viability, seeking RBI intervention. Compliance issues led to operational restrictions, prompting directions to transfer businesses. KYC guideline non-compliance has halted income generation and eroded net worth.

A report by Tracxn revealed that India’s fintech funding slumped in the first half of 2024, however fintech funding in India ranks third globally. The FinTech sector received funding of USD 795 million in 2024, a decline of 11 per cent and 59 per cent compared to previous years.

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 2.05 billion in June 2024, while the top 20 deals summed up to about USD 1.57 billion.

As Paris gears up for the 2024 Olympics, this initiative aims to facilitate seamless transactions for a growing number of Indian visitors and underscores UPI’s evolving role as a global digital payment solution.

Swiggy, the popular online food and grocery delivery platform, has joined the trend of integrating Unified Payments Interface (UPI) services directly within its app. Following the footsteps of its competitor Zomato, Swiggy aims to enhance the checkout experience for its users by partnering with YES Bank and Juspay.

India’s fintech ecosystem achieved a significant milestone in the first half of this year by ranking among the top three funded globally, alongside the US and the UK, a report showed on Friday.