Fintech

Walmart’s Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple of years, as stated by Walmart’s executive, Dan Bartlett.

Das said the RBI does not prescribe minimum investment but banks should invest adequately in IT infra in line with business growth to cut outages.

With increasing number of frauds relating to digital payments in India, with an objective to minimise it, the RBI MPC has decided to set up a Digital Payments Intelligence platform and has further constituted a committee led by A.P. Hota, former MD & CEO, NPCI to take this initiative forward.

Tencent Cloud Europe BV divested ₹415.7 crore worth of PB Fintech shares in a bulk transaction on the NSE, selling 33 lakh shares at ₹1,259.7 each.

FINTECH-EUROPE/CBDC (URGENT)ECB digital currency chief says digital euro is likely but “not inevitable”

While there has been a funding winter in fintechs and tech startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTech funding has witnessed a significant drop in the amount raised in the month of May, compared to the previous month.

​Fintech players have demonstrated how technology can expand access, lower costs and enable innovative products. The government’s push for a cashless economy, which accelerated during the demonetization period, is responsible for the unexpected emergence of India’s fintech ecosystem.

Further expansion of the digital ecosystem while addressing key challenges such as interoperability, policy frameworks, cybersecurity, and others will empower the fintech sector to provide out-of-the-box financial solutions to a broader audience, experts said on Tuesday.

This move aims to reduce reliance on cash-based transactions and expand the use of digital payments to Peru’s large unbanked population.

Lending tech startup Fibe which recently launched the country’s first numberless co-branded credit card today raised approximately USD 90 million of funds in its Series E Round. The company aims to deploy the funds into its business expansion.