Fintech

Cashfree can offer settlement of around 12,000 transactions per second with this certification. Cashfree has built this switch in partnership with NSDL Payments Bank as the sponsor bank.

Following its sister firm Policybazaar’s playbook, digital credit marketplace Paisabazaar, a part of listed PB Fintech, is building its own offline distribution channel. Naveen Kukreja, chief executive officer of Paisabazaar, told us that the company has set up a field team of around 100 people in Delhi, Mumbai, and Bengaluru.

Biz2X, a subsidiary of Biz2Credit, has surpassed Rs 9,000 crore in loan disbursements, driven by its AI-integrated platform, DigiKred. The company expects to facilitate an additional Rs 5,000 crore by FY2025. Strategic collaborations and expansions into UAE and Saudi Arabia bolster their growth.

With more than 90% of its revenue currently derived from payments, lending, and insurance, the company is steadily building a pathway to profitability

India’s fintech sector rebounded in Q3 2024 with USD 778 million in funding, led by DMI Finance’s USD 334 million round. Funding increased 66 per cent from last year, despite global economic uncertainty. Investor confidence is growing, driving sector growth. Key investors like Peak XV Partners and Y Combinator are leading the charge.

PhonePe launches a new insurance plan priced at ₹9 that protects against firecracker-related accidents during Diwali. The plan offers coverage of up to ₹25,000 for a 10-day period and includes hospitalisation and accidental death expenses. Coverage starts immediately for purchases from October 25, 2024, onward.

The new PPBL app requires, customers to use their Paytm Payments Bank username and password. Those without a username can set one on the app’s login page. Users will be prompted to create a password during the username setup process. To log in with their username and password, customers need to input their details on …

Paytm delinks PPBL from its platform, PPBL unveils dedicated app Read More »

Comprehensive Annual Modular Survey: According to the survey, an impressive 96.1% of persons aged 15-24 years reported using mobile phones, with rural areas accounting for 95.7% and urban areas 97%.

Recent shifts in funding are only part of the story for FinTechs, these entities are going through major mindset transformations. One big question, Which FinTech segments hold the most promise and why? Going forward, Can FinTechs still bet on ‘burn and grow’? Where will the capital flow from? How is the funding winter reshaping strategies? …

FinTechs in Credit, Wealth, and Insurance will fetch capital, says Yashraj Erande of BCG Read More »

Under the new rules, banks can charge an interchange fee of 1.2% on transactions made via pre-approved UPI credit lines, unlocking a fresh revenue stream in the rapidly evolving digital payments space.