Page 7 - Fintech Sector

BHIM UPI transactions come down slightly to Rs 4.94 trillion in Apr

The digital transactions through BHIM UPI in April this year fell by 2.2 per cent from a month ago

BharatPe registers 106 million monthly UPI transactions in March

Fintech company BharatPe on Monday said it has clocked 106 million transactions in the UPI QR payments category in March, and aims to grow UPI payments by three times in 2021-22. The company recorded USD 830 million worth of transactions (USD 10 billion annualised) in March 2021, according to a statement. BharatPe continued its trend of outgrowing the market with an 8.8 per cent market share, it added. "Over the last 12 months, BharatPe has grown exponentially and has been able to establish itself as one of the fastest-adopted payment systems in the UPI person-to-merchant (P2M) segment. "The company has recorded a growth of 7x in volume of UPI transactions from April 2020 to March 2021," it said. Additionally, its Unified Payments Interface (UPI) payments vertical grew 23.7 per cent from February to March 2021. "The pandemic accelerated the growth of digital payments in the country. In fact, we saw all our business verticals grow manifold over the last one year. We outgrew the ma

Chinese regulator orders Ant Group to carry out a major overhaul

Ant Group is a financial affiliate of e-commerce giant Alibaba Group Holding

Cred joins unicorn club with $215 million fund raise

Valuation touches $2.2 bn; startup initiates ESOP buyback worth $5 million

Paytm reaches 15 million monthly users mark on its Mini App Store

Fintech major Paytm on Monday said over 600 apps have been featured on its Mini App Store with more than 15 million monthly users coming to the platform.

Fintech start-up Khatabook acquires Biz Analyst for $10 million

Khatabook will offer its customer base of over 10 million monthly active merchants an opportunity to scale up businesses

Fintech startup KreditBee raises $70 mn from TPG arm, Motilal Oswal

KreditBee gives out an average credit of Rs 12,000 to self employed users and Rs 25,000 to salaried people

WhatsApp hires Amazon Pay's Mahatme to lead India payments: Report

With more than 500 million users, WhatsApp counts India as its biggest market

PhonePe takes up 6 IPL 2021 sponsorships as part of marketing push

PhonePe said on Thursday it has taken up six different sponsorships for IPL 2021

India's fintech industry seen at $150-160 bn by 2025: FICCI-BCG report

The Federation of Indian Chambers of Commerce & Industry (FICCI) and Boston Consulting Group (BCG) on Saturday unveiled 'India FinTech: A USD 100 Billion Opportunity' report. The report details the findings from the study that BCG and FICCI undertook to size the value-creation potential and identify imperatives for India's FinTech growth.

Google Pay to soon give users in India more control over their data

Google on Thursday said it will offer users of Google Pay enhanced privacy features, allowing them to take control of their own transaction data

PayPal to hire over 1,000 engineers for India development centres in 2021

The hiring will be for the firm's development centres across Bengaluru, Chennai, and Hyderabad

Chinese fintech firms expected to meet capital requirements within 2 years

Chinese financial regulators have rolled out a slew of measures since last year to tighten the oversight of online lending practices

Wall Street won't intimidate retail giant Walmart this time around

Walmart announced in January that it formed a partnership with Ribbit Capital to create a new financial technology startup

India sees second-best year for fintech funding despite Covid-19: KPMG

India attracted 2.7 billion dollars in investment last year, the second highest amount ever, KPMG asid

India emerges as Asia's biggest destination for fintech deals

India left China behind in the quarter ended June 2020, a research report said on Wednesday

ICICI to buy over 9% stake in fintech startup Thillais Analytical Solutions

The firm said it has entered into an agreement with fintech startup Thillais Analytical Solutions Pvt Ltd to buy 9.65 per cent stake in the company

Mastercard, Razorpay partner to drive digital payments for small businesses

The tie-up aims to drive digital payments acceptance by small businesses and start-ups in the country

BharatPe set to become next unicorn after valuation crosses $900 mn

The fintech firm, which competes with players like Pine Labs, Paytm and Mswipe, provides payment technology and digital lending for offline businesses, including kiranas

MoneyTap launches 'buy now pay later' facility for digital borrowers

Digital lending platform MoneyTap on Wednesday said it has unveiled a 'buy now pay later' facility for its borrowers