Fintech

As Paytm grapples with a myriad of challenges – from regulatory scrutiny to monetization struggles and uncertainties in diversified services – caution prevails in the investor community.

A storm of global challenges — from the high-interest-rate environment and stubbornly high inflation in many jurisdictions, to conflicts in Ukraine and the Middle East — combined with concerns about valuations and the barren exit environment, saw fintech investors becoming increasingly cautious with their investments. A recent report by KPMG revealed that global fintech funding …

Global fintech funding touched 5-yr low in 2023, AI focus area for VCs: Report 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 1.38 billion in January, while the top 20 deals summed up to about USD 0.87 billion.

PM Narendra Modi will be joined by his Mauritius counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe in witnessing the launch of Unified Payment Interface services in Sri Lanka and Mauritius and also RuPay card services in Mauritius, via video conferencing Monday. The launch will enable availability of UPI settlement services for Indian nationals …

Sri Lanka, Mauritius launch UPI services today Read More »

The company has expanded its product portfolio from 25 to over 160 in the last couple of years, it said, adding that the platform has successfully onboarded over 36 lakh partners, doubling its numbers in just a year, and currently operates across 19,000 pin codes in India. Read more here:

The lack of a clear business model, meagre profit margins, and tight rules have led to a situation where, of the 11 entities granted payment bank licences, only six are currently operational.

The recent suspension of Paytm Payments Bank Limited (PPBL) marks the culmination of a regulatory struggle dating back to 2017, when it was launched. The ban, a result of persistent non-compliance issues, raises questions about the proportionality of the measures and prompts discussions on Paytm’s potential path to redemption in the fintech landscape.

One97 Communications, owner of Paytm, assures merchants and users that services will continue without disruptions. Paytm QR codes, Soundbox, and card machines will still be available. Leading companies express satisfaction with their association with Paytm’s seamless payment solutions.

Currently, those using Paytm to make UPI payments have virtual payment addresses (VPAs) ending in @paytm. After March 1, customers might find this changing to some other bank’s handle. Paytm aims to use three or more banks to start issuing new VPAs to its customers for use from next month, sources said.

Tokenized deposits could facilitate real-time, automated payments based on specified actions within the metaverse, while CBDCs could offer a stable and secure means of exchange, says a BIS study.