Page 8 - Fintech Sector

Rs 1,500 cr-scheme to boost e-payments; drive innovation by fintech cos

The government on Monday proposed a Rs 1,500 crore-scheme to promote digital transactions in the country

World Bank's IFC to invest $45 million equity in upGrad Education

upGrad has almost doubled its users in six months and aims to touch 10 lakh by the end of 2021

BSE sets up innovation sandbox web portal for fintechs, individuals

BSE on Friday said it has set up an "innovation sandbox" web portal where fintech firms and individuals may use the environment for offline testing of their applications in a test environment.

Financial operations of FB, Google, Amazon regulated: RBI, Sebi tell HC

The RBI has informed the Delhi High Court that operations of techfin firms such as Facebook, Google and Amazon in India's financial sector space are being regulated under the relevant laws

Fraud in fintech being fought with regulatory tech

It has been estimated that more than 1,200 lending apps are active in India. While some have been shut down or removed from Google or Apple platforms, others can pop up with frightening speed

Fintech firm BharatPe raises Rs 50 crore debt from Trifecta Capital

Trifecta Capital is a venture debt firm

RBI working committee in favour of setting up NPCI-type agency for fintechs

RBI panel favours new structure for better supervision

The new playbook: RBI steps in to stem the nexus between banks and fintechs

With the RBI red-flagging mushrooming of digital apps, the tango between banks and fintechs may be in for a big change, report Hamsini Karthik and Raghu Mohan

PayPal becomes first foreign firm in China with full ownership of payments

PayPal has become the first foreign operator with 100% control of a payment platform in China, according to Chinese government data

Cred raises $81 million funding, undertakes $1.2 million buyback plan

This gives the fintech firm a post-money valuation of $806 million (about Rs 5,883 crore)

Fintechs show interest in becoming SFBs, but transitions involve risks

The fintech model is conceptualised as asset-light, which, in fact, played a huge role in Fino Payments Bank's early breakeven

SBI Life acquires 9% stake in Paisalo Digital for Rs 186.20 cr

SBI Life Insurance Company on Thursday said it has acquired nearly 9 per cent stake in non-banking finance company Paisalo Digital

Fintech to wealthtech

Opening mutual funds for more players will broaden the market

Razorpay, Visa tie up to help small businesses tackle Covid impact

With higher credit limit than other corporate and personal cards, RazorpayX's corporate cards will empower founders to free up working capital expenses with zero personal risks and liability

Fintech company BharatPe aims to become a bank for small merchants

The firm, which provides technology and digital lending for offline businesses including kiranas, has witnessed $2-billion annualised business transactions for its POS segment in just three months

Promote competition

Govt is turning anti-consumer in digital payments

Financed Rs 400 cr worth of purchases since March: Capital Float

Fintech platform Capital Float on Monday said it has financed customer purchases worth Rs 400 crore since March 2020 and witnessed 350 per cent growth in its buy-now-pay-later customer base.

PhonePe hits 250 mn-user mark, registers 925 mn transactions in October

Flipkart-owned fintech platform PhonePe said it has crossed the 250 million-registered users milestone

Financial services becomes next battleground for PhonePe, Amazon and Google

Walmart-owned PhonePe has become the fastest-growing insure-tech distributor in India within just 9 months of the insurance category going live on the digital payments app

Fintech the way forward for Indian banking, payment system: SBI MD

Giving the example of SBI, he said, 91 per cent of jobs are being done digitally now, which was unthinkable 35 years ago