BUSINESS
Amazon completes acquisition of Axio, to follow measured growth in lending
Even as the credit cards in the country explode, the ecommerce firm continues to see a good demand for the BNPL product from customers with a lower income level, and helps them build a good credit history
BUSINESS
UPI’s volume growth down 15 percentage points in 2025 as base effect takes hold
India’s large informal sector, a low female work participation and the new users’ propensity to spend less could limit UPI’s future growth, say experts
BUSINESS
UPI crosses 20 billion monthly transaction milestone in August, valued near Rs 25 lakh crore
UPI had processed close to 15 billion transactions in August 2024, with the platform recording a 33 percent growth year-on-year.
BUSINESS
Banking infra fintech TransBnk raises $25 million, to expand operations in the Middle East and East Asia
According to the company, there is a gaping void in how corporations and lenders manage their digital banking operations, especially when it comes to navigating a fragmented ecosystem of accounts, interfaces, and manual processes
BUSINESS
Groww to launch in-house agentic AI model to help customers make better investment decisions
An in-house agentic AI model has access to all of customer data, investment patterns, risk profile and a vertical specialisation trained on platform data, effectively making them a better product than the popular generic AI models
BUSINESS
How online real money gaming and payment aggregator firms found a perfect match until it all came crashing down
The gaming industry was a great opportunity for PA firms to monetise UPI payments, with the winnings payout yielding them a flat Re 1 per transaction, around 10 times higher margins than regular payments
BUSINESS
Gaming industry contributed 10% of revenue for several payment firms, impact on UPI volume and value minimal
The move may push a lot of users to international betting sites, where customers can load money through credit cards, making it harder for the government to monitor and regulate such transactions
BUSINESS
IMPS transaction volumes hit four-year low as UPI surges in popularity
IMPS is often used by customers for high-value transactions, with the average value of transactions being higher than Rs 13,000 in July this year, compared to UPI's Rs 1,300
BUSINESS
Banks recommend new GST slab of Rs 1 crore to curb merchants ditching digital payments
DFS sought comments from banks, RBI and NPCI on the existing GST slab of Rs 40 lakh for shopkeepers, whether it should be raised, and by how much, sources said
BUSINESS
Paytm reduces headcount by 4,500, employee expenses down by Rs 650 crore in FY25
Paytm had 44,000 employees in FY24, which came down to 39,400 in FY25, resulting in higher than the estimated savings of Rs 400-500 crore
BUSINESS
UPI crosses 700 million daily transactions, doubles in two years
In August 2023, UPI was registering around 350 million transactions a day. During August last year, UPI was registering around 500 million transactions
BUSINESS
IPO-bound Aye Finance posts 41% revenue growth at Rs 1,500 crore, net profit at Rs 171 crore
Aye Finance said that the company’s credit cost had come down in Q4FY25 and the same falling trend has continued in Q1FY26.
BUSINESS
SarvaGram Fincare’s FY25 income grows 74% to Rs 274 crore, net profit slips amid rising credit costs
On a consolidated basis, SarvaGram Solutions posted a net loss of Rs 61 crore in FY25, widening from Rs 20 crore in FY24
BUSINESS
Payment fintechs are getting squeezed as banks add charges for UPI merchant transactions
The bank charges are limited to those accounts where the PAs use the banks for merchant acquisition. Since the fees is 0.02%, PAs are likely to absorb the cost and are not expected to pass these to merchants immediately
BUSINESS
Neobanks diversify into cards, payments, investment businesses amid struggle to offer core banking services
Without a differentiated product, neobanks have taken the route of other fintechs, such as cards, lending and investments, leaving them to play in a crowded market with specialists
BUSINESS
India-UK trade deal to give UPI a bigger play in Britain, ease remittances
It will allow Indians to make payments in UK shops by scanning QR codes and also send money to children studying in the that country using UPI once the FTA is operational
BUSINESS
Flipkart-owned super.money enters travel category, launches rewards for domestic flight bookings
Launched in July 2024, super.money has grown into India’s fifth-largest UPI payments app ahead of established players such as BHIM, WhatsApp Pay, Cred and Amazon Pay
BUSINESS
Paytm swings to profits, thanks to massive cut in expenses
The December quarter of FY 24 was Paytm’s high point in terms of revenue and other operational metrics like monthly transacting users, number of UPI transactions and gross merchandise value
BUSINESS
After Karnataka, four more states request merchant transaction data from UPI apps
The move is likely to promote transactions in cash in other parts of the country.
TECHNOLOGY
Karnataka’s GST evasion notices prompt shopkeepers to turn down UPI payments
Karnataka, which accounted for 7.73% of the country’s total UPI transactions in May, ranked second only to Maharashtra (13.19%)
BUSINESS
Maharashtra, Karnataka top UPI transactions, 4 states report over a billion transactions
Maharashtra accounted for around 13% of UPI transactions followed by Karnataka at around 7.7%.
BUSINESS
Groww, Zerodha together lose 11 lakh active investors in the first half of 2025
The overall impact on broking business is expected to be minuscule, as the decline in the user base of Groww, Zerodha, and Angel One was only around 5 percent of their active investors
BUSINESS
Fintech Kreditbee’s profit soars 66% to Rs 473 crore, revenue surges 40% to Rs 2,712 crore
The company's AUM has grown by five times in the last three years, representing a 72 percent compounded annual growth rate during the period
BUSINESS
Cred processes 75% more in bill payment value than PhonePe, its nearest competitor
The average value of a bill that Cred processes is worth over Rs 14,000 whereas the value of a bill that PhonePe processes is around Rs 3,000.
