BUSINESS
PhonePe carries over its UPI dominance to bill payments, corners half of the market
Electricity, FASTags and loan repayments together account for 70 percent of all bill payments on the BBPS platform by value as well as by volume.
BUSINESS
Paytm's market share in bill payments drops by 3 percentage points in 2 months
Paytm’s loss of bill payment market share also mirrors the situation the company finds itself in UPI payments as well. The company has lost five percentage points in market share in the last year
BUSINESS
Go Digit's Kamesh Goyal says, 'We took investor feedback to decide the IPO price, hope to give them value'
On the reduced issue size, the Chairman said the company's requirement for capital went down as it raised non-convertible debentures worth Rs 200 crore in December last year.
BUSINESS
Challenging UPI duopoly tricky, NPCI likely to extend the market cap deadline
Restricting a few apps from carrying out regular business through market cap norms will likely be challenged in a court of law. The apps have followed the rules and regulations set by NPCI, in a market that is intensely competitive
BUSINESS
Paytm's UPI market share drops by 5 percentage points in 1 year
PhonePe has maintained more than 50 percent market share in UPI transaction value since February. Paytm's value market share stood at 6.2 percent in April 2024
BUSINESS
Why Paytm President and COO Bhavesh Gupta resigned
Sharma is likely to be more hands-on and will closely monitor every single business division of Paytm until things go back to where they were during Q2 of the last financial year
TECHNOLOGY
Explainer: What is behind the race for payment aggregator licences?
Increasingly payments have also become an integral part of the consumer journey and satisfaction with a brand. Having control over the payment experience, from user interface to speed of processing and issuing refunds, makes it much easier to manage with an in-house team.
TECHNOLOGY
Peak XV, Temasek-backed Fi is the latest fintech to get NBFC licence
Last valued at $520 million in July 2022, the neobanking company's revenue came in at Rs 1.27 crore in FY21 and Rs 25.6 crore in FY22, data from PrivateCircle shows
BUSINESS
Paytm new UPI user onboarding to begin in a couple of months, say bankers
Paytm’s UPI market share has dropped by three percent in the last couple of months from around 12 percent in January to nine percent in March. The delay in onboarding new customers is due to the RBI regulation that restricts new customers until migration of existing customers to new handles is complete.
BUSINESS
Meetup at Lonavala: RBI holds discussions with banks and fintechs on ways to popularise CBDC
The meeting happens against the backdrop of declining usage of CBDC at the wholesale level and retail level. Despite a push from some banks and the regulator and interoperability with UPI, CBDC has been losing popularity
BUSINESS
Flipkart’s UPI off to a flying start in March
Flipkart has around 500 million users and the company does around five million orders in a day. If a third of these orders start using Flipkart’s UPI, it is likely to do 50 million transactions in a month.
BUSINESS
Sachin Bansal's Navi starts offering cashbacks for UPI payments as it looks to expand financial services
Navi's market share is a drop in the ocean compared to market leader PhonePe's 50%. Incidentally, Flipkart, which was cofounded by Bansal, and from which PhonePe was spun off in 2020, waded into the UPI business last month
BUSINESS
Without Payments Bank, Paytm's UPI market share drops to 9%, lowest in four years
NPCI started sharing UPI apps transaction volume and value from April 2020 and this is Paytm's lowest market share. The mobile payment app hit by the regulator's action has also seen its transaction value market share drop to 6.7 percent.
BUSINESS
MC Exclusive: Navi open to external investment for acquisitions, cash cushion for uncertain times: Sachin Bansal
Bansal says Navi is preparing for an IPO in 24 months. The previous attempt was abandoned due to market volatility arising due to macro conditions
BUSINESS
GenAI improving high-technology access for more people and companies: Flipkart and Navi founder Sachin Bansal
While anyone could use AI models and get decent results, Bansal feels that only technology experts could get excellent results out of the LLM models
BUSINESS
Premium for good governance will be very high, many took it for granted: Sachin Bansal
According to Bansal, governance has to be put in place deliberately and should not be just because you happen to work with founders who are doing the right thing themselves. He added that it should not taken for granted
BUSINESS
Parked banking dreams for now; focus is on stabilising lending business: Navi founder Sachin Bansal
In a freewheeling interview with Moneycontrol, the Flipkart founder said the recent actions by the RBI on fintechs is a sign that the ecosystem is maturing, with the regulator’s understanding becoming deeper.
BUSINESS
Paytm likely to onboard HDFC Bank as the third merchant acquiring partner this week
Yes Bank and Axis Bank are already live partners for the merchant migration business. Meanwhile SBI and HDFC will likely go live on the TPAP platform this week for Paytm’s consumer UPI business
BUSINESS
Yes Bank, Axis Bank go live on Paytm's UPI platform
The RBI's deadline for Paytm Payments Bank Limited to stop all banking operations runs out today. PPBL was acting as the backend bank powering Paytm's UPI payments until now
BUSINESS
OneCard's access to customer data likely forced some banks to stop issuing co-branded credit cards
The pause is most likely temporary and once OneCard starts accessing customer data in encrypted form, the banks will start issuing the cards again
BUSINESS
SBI partners with Paytm as the fourth bank for its UPI business
Moneycontrol reported that Paytm had partnered with Axis Bank, Yes Bank and HDFC Bank for TPAP partnerships earlier.
BUSINESS
Paytm in talks with Axis, Canara, Yes and Kotak to migrate merchant accounts from payments bank
The discussions have not concluded yet. More than one bank will likely migrate the merchant accounts as the policymakers wish to avoid any concentration risk though commercials will take precedence over everything
BUSINESS
RBI's card network portability circular is open to different interpretations, may require more clarification
The interpretation in itself would make a world of difference in terms of cost, obligations and even customer convenience and continuity. However, this could also mean that the guidelines are not followed in letter and spirit
BUSINESS
Smaller UPI apps seek NPCI support to challenge dominance of PhonePe, Google Pay
NPCI is planning to hold monthly meetings till December and possibly beyond that to address the lopsided UPI market share, where the top three players control around 95 percent of the total transaction volume and value
