BUSINESS
Fintech startup Slice to merge with North East Small Finance Bank
Slice said that the merger will help realise the entity’s shared goal of integrating technology with grassroots financial inclusion across the nation.
BUSINESS
Flipkart eyes Amazon Prime-like customers with launch of VIP membership
While there are a lot of similarities and a few dissimilarities, the Seattle-based firm clearly has the first-mover advantage.
BUSINESS
The F&O edge: Why Zerodha will sit pretty at top
Zerodha's revenue numbers could plateau during the current financial year and its user growth has stagnated for over 18 months now. Competitors like Groww and Angel One are closing in. However, the gulf between Zerodha and its competitors in revenue and profits are too wide.
BUSINESS
Fintech startup Converj's credit cards for b2b payments looks at addressing the MSME credit gap
The transactions are currently settled using NEFT and RTGS payment methods, which does not facilitate credit for such b2b payments. The credit card rails could help the companies free up working capital for business expansion.
BUSINESS
PhonePe faces its toughest challenge yet, despite its right to play approach
PhonePe will find it hard to crack the equity investment market with its Share.Market. Distribution mettle alone cannot guarantee success. Equity investing requires more than just payments to attract customers.
BUSINESS
Why NPCI is the crown jewel of Indian fintech
Through a series of nimble innovations, NPCI has digitised and revolutionised Indian payments space. The high profit margins helped the organisation to keep innovating at a pace that can put even the best of the fintech start-ups to shame.
BUSINESS
Behind Paytm and Pine Labs launching devices with identical functions on same day
As faster, more convenient, and cheaper payment methods gain popularity, India-specific innovations such as stripped down POS devices will help digitise merchant payments in smaller towns and cities.
BUSINESS
Only a third of investors are active, Share.Market aims to change that: PhonePe Co-founder Rahul Chari
Walmart-backed fintech major PhonePe announced on 30 August its entry into the stock broking business with the launch of its app called "Share.Market".
BUSINESS
UPI transactions for August crosses 10-billion mark for the first time
The real-time mobile payment platform is likely to end August with around 10.5 billion transactions with the cumulative value crossing the Rs 15-lakh-crore figure for the second consecutive month.
BUSINESS
Jio’s fintech ambitions pose a potential threat to startups over the long term
JFS’ war chest, execution capabilities at scale and the reach that other RIL Group companies provide could be formidable and pose a threat to fintechs’ market share over the long term. This also indicates the potential Reliance group sees in the Indian fintech market.
BUSINESS
Co-working firm Innov8 goes into arbitration with Rahul Yadav's 4B Networks for unpaid dues
Meanwhile, Yadav’s delaying tactics continue as 4B Networks asks for more time in its arbitration proceedings with Innov8 and Info Edge. He was also questioned twice by the Mumbai Police this week.
BUSINESS
Paisabazaar looks at higher recurring revenue stream to avoid Covid-like disruptions
Paisabazaar's target is to grow twice the rate of the overall credit growth and it grew thrice the industry growth during the June quarter. The company grew four times the industry average during the last fiscal.
BUSINESS
Legal troubles continue for Rahul Yadav and 4B Networks, vendor files complaint over Rs 10 cr in unpaid dues
A first information report (FIR) has been registered by the Mumbai police against Yadav and Sanjay Saini of 4B Networks for cheating. Sources close to the development say that a lookout notice has been issued against Yadav.
BUSINESS
Why Sachin Bansal sold Chaitanya to Birla despite its success
If not for Sachin Bansal’s ambition to get a banking licence, there was a cultural and strategic misfit between what Chaitanya was and could be. He wants Navi to be an urban 100% digital banking firm. But without a banking licence, it is a long hard journey to become a large financial services player in India.
BUSINESS
Sachin Bansal’s Navi Finserv doubles revenue during June quarter
The company’s loan book comprising personal and home loans stood at Rs 6,444 crore. It reported a net profit of Rs 26 crore during Q1FY24.
BUSINESS
Nation’s Pride: How UPI has changed digital payments forever
UPI has not only revolutionised and digitised India’s payments space, it has also created an ecosystem of fintech players to offer products on top of the platform and created multi-billion-dollar private enterprises.
BUSINESS
Behind the Lite touch regulation for UPI
The central bank's proposals to accelerate the adoption of UPI Lite make it clear that UPI's success is essential for the NPCI to seamlessly process one billion transactions per day.
BUSINESS
Vijay Shekhar Sharma goes all in, is now the largest shareholder in Paytm
An overseas entity owned by Sharma will acquire 10.3 percent stake in Paytm from Antfin through an off-market transfer. On closing of this transaction, Sharma’s shareholding in Paytm will increase to 19.42 percent, whereas Antfin’s shareholding will reduce to 13.5 percent
BUSINESS
A new UPI innovation has PhonePe and Google Pay worried
While NPCI and online merchants are gung ho about the new innovation, which enables faster payments, the UPI apps are probably worried about any potential challenge to their dominance on the mobile payments platform.
BUSINESS
PayU plans to list in India next year, looking at $6 billion valuation, say sources
PayU India reported $400 million in revenue for FY23, registering a growth of 31 percent. Going by its growth and profitability, the company could seek a valuation of somewhere between $4-$6 billion, sources said
BUSINESS
Why Payment Aggregator licences are stuck for months
According to experts, the delay may be due to the stringent approval process that is aimed at ensuring transparency, standardisation and trust in India’s fintech ecosystem
BUSINESS
Swiggy takes cobranded credit card battle to Amazon and Flipkart turf, with a catch
The Swiggy-HDFC co-branded credit card is offering five percent cashbacks for purchases on Amazon and Flipkart, which is same as that of what the ecommerce companies are offering to their credit card customers. The only catch being the cashback will be deposited as Swiggy Money and can be used only on Swiggy.
BUSINESS
The crisscrossing paths of Flipkart and PhonePe
Flipkart and PhonePe relationship is today looking like a Venn diagram where the investors and consumers meet, but the organisations are charting a distinct path for themselves as independent companies. This has probably made them compete with each other in financial services such as lending and insurance. And that is not incidental.
BUSINESS
Generative AI can transform customer service: Sendbird's Shailesh Nalawadi
However, the expectations has to be trumped as the hype around past advances in AI has died down. For instance, in the healthcare sector, there were expectations that the software trained on a million x rays or blood samples can predict cancer cell growth and so on. With hindsight, these has been proved to be at best an assistant to a doctor.
