Page 13 - Fintech

India's fintech adoption rate at 87% as compared to 64% globally: FM

"I think India is the prime destination for digital activities, digital payments," FM Sitharaman said

The new tango between banks and fintechs: Rivals of yore turn partners

Banks and fintechs are realising that disruption has a huge collaborative aspect to it too

ZestMoney raises $50 mn from Zip Co to scale up buy now, pay later offering

The shift towards pay later solutions is a global phenomenon and represents young digital consumers looking for transparency, honesty and no hidden charges in financial products

Australia's Zip enters Indian buy-now-pay-later space with ZestMoney deal

Australian buy-now-pay-later firm Zip Co Ltd said it would invest $50 million to acquire a minority interest in Indian peer, ZestMoney, as part of its plans to tap new growth markets and add investors

Challenge for banks as outsiders Amazon, IKEA crack the finance code

Analysts say the risk for traditional lenders is that they will get pushed further away from the front end of the finance chain

Indian fintech market poised for multi-fold growth for newer biz models

India, as the KPMG report suggests, is a unique market where the regulator has been actively involved in giving access to new-age fintech players

Auto debit payment failures ease in August, shows NPCI data

In volume terms, 32.98% of transactions initiated declined, 26.82% in value terms

India's fintech market to triple to Rs 6.2 trn by 2025: MoS Finance Karad

The govt's various initiatives have led to fast growth in the fintech sector, which is likely to triple to Rs 6,20,700 crore in value terms by 2025, Minister of State for Finance Bhagwat K Karad said

Late stage technology deals at an all time high in India: IVCA-EY report

Among overall sector-wise trends and deals, fintech (financial technology) topped the charts with 61 deals followed by edtech (education technology) with 42 deals.

Tie-ups like Equitas-Google Pay can significantly disrupt payments sector

With Covid-19 putting the brakes on bank lending, fintech players have begun to give banks serious competition

Indians embrace digital: Over 300 mn smartphone users use digital payments

From 'tankhwa' and 'kiraya', for 'shagun' and 'jugaad', digital payment is a pan-India habit

We will be more active in fintech ecosystem: PayU's Anirban Mukherjee

'We want to build a platform that can be used by others as well', said Mukherjee

In no hurry to launch IPO, will go public when it makes sense: PhonePe CEO

PhonePe is in no hurry to launch its IPO and will go public "when it makes sense" for the company, even as a number of Indian internet companies line up to mark their debut on Dalal Street

Processing about 1.5 bn transactions a month: PhonePe CEO Sameer Nigam

Nigam said that the fintech firm is aiming to reach 900 million people in the next 8-10 years

Processing about $1.5 billion transactions a month, says PhonePe

Fintech major PhonePe on Thursday said it is processing almost $1.5 billion transactions a month, and about 80 per cent of its users are from tier-II cities and beyond

Delhi court gives police three weeks to conclude Paytm ownership probe

Ashok Kumar Saxena, 71, said in legal documents that he had invested $27,500 in Paytm parent One97 Communications two decades ago, but was never allotted any stock

Aiming to raise $700 mn in debt over next 2 yrs: BharatPe CEO Suhail Sameer

Delhi-based BharatPe said it has raised Rs 100 cr each as debt from IIFL Wealth & Asset Management, and Northern Arc Capital

Amazon, Premji Invest back fintech smallcase in $40 mn funding

The capital raised will be used to launch better investment products for the retail investor

MobiKwik appoints Punita Kumar Sinha, 3 others as independent directors

MobiKwik on Friday said it has appointed former Blackstone MD Punita Kumar Sinha, diplomat Navdeep Singh Suri, and two others as independent directors

True Balance aims for break-even by year-end, eyes listing by 2024

True Balance is an RBI-authorised digital platform which facilitates loans through its safe, RBI licensed NBFC - True Credits.