The shift towards UPI-based credit cards on third-party apps like Google Pay and PhonePe poses a challenge for banks, raising concerns about customer retention and cross-selling. Fintech startup Fibe, led by Ashish Goyal, foresees a potential share struggle among top UPI apps.
Neobanking startup Jupiter, backed by Tiger Global and Peak XV Partners, secures a prepaid payments instrument licence from the RBI to offer digital wallets for UPI payments, fund transfers, and bill payments.
Zerodha’s founder & CEO Nithin Kamath has spoken of the market expansion following the Covid-19 pandemic, as evidenced, in his opinion, by the increasing assets under management at Zerodha.
In a move to streamline operations, Paytm plans to trim its non-core activities, such as cross-border business, and lay off employees.
Paytm’s sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India’s ban on services of Paytm Payments Bank.
UPI overpayment scam: You should be careful before sending or accepting any UPI collect money request especiallly from unknown numbers or IDs. This is because scamsters have now become more sophisticated and specifically targetting various tricks to make sure you stay distracted enough to not notice the scam. Read here how a individual got saved …
Fino Payments Bank sees an opportunity in the digital banking space after Paytm Payments Bank’s exit. To capitalise on this, they’re ramping up their digital offerings, aiming to grow their digital revenue share from 5-6% in FY24 to 15% this fiscal year. Since December, Fino has deployed around 14,000 QR codes which reported 300,000 transactions …
Fino Payments Bank eyes tripling digital banking revenue share by FY25 Read More »
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 2.9 billion in May 2024, while the top 20 deals summed up to about USD 2.1 billion.
India’s Fintech sector is seeing unprecedented increase in regulations and related compliance requirements. Additionally, subcontracting of services also with the consent of the regulated entities. This has led to a substantial increase in compliance costs and even increased costs due to legal hires. ETBFSI speaks to top legal and regtech experts and gives you an …
How much do Indian FinTechs spend on compliance? Read More »
RBI Governor Das attributes UPI payment disruptions to banks’ outdated technology, not NPCI. Digital payment failures rise, impacting customers. UPI transactions exceed 450M daily. RBI introduces UPI Lite for enhanced reliability.
