BUSINESS
Festive sales drive online credit card spending to all-time high, likely to touch Rs 1.2 lakh crore in September
Interestingly, the debit card payments online is likely to be much below last October’s figures, an indication that more people are shifting their online purchases to credit cards to avail offers
BUSINESS
NPCI tweaks credit line on UPI after a cold start, to launch partnership model at GFF
For small ticket unsecured loans, NBFCs tend to be more eager and earnest than banks and hence their participation is key for the product’s take off
BUSINESS
IPO-bound Groww leans on wealthier clients, diversification to offset derivatives slowdown
As per AMFI data, 6 million new SIPs were created in India in June 2025, while Groww created 2 million new SIPs during the period, implying that around 33 percent of all new SIPs were created on the company’s platform.
BUSINESS
PhonePe, Paytm, Cred shut down rent payment services amid RBI curbs
The move follows the Reserve Bank of India’s (RBI) tightened Payment Aggregator (PA) and Payment Gateway (PG) guidelines, issued on September 15, which bar PAs from facilitating payments to entities with whom they lack a direct contractual relationship.
BUSINESS
Rising revenue, growing user base, regulatory headwinds: 7 things to know about Groww’s DRHP
In Q1 FY26 Groww's revenue came in at Rs 904.3 crore. Active client growth of 35.5% in FY25 outpaced most listed peers. .
BUSINESS
Broking major Groww files for Rs 6,000-7,000 crore IPO, aims for a November listing
Bengaluru-based broking firm Groww is likely to finalise the IPO price band by the middle of October and is aiming at a November listing.
BUSINESS
Kotak811 pulls ahead of SBI Yono, becomes third-highest downloaded banking app in world in H1 2025
Unlike India, mobile banking apps have become the go-to apps for financial services across the globe. In India, payment apps are bigger than neobanking apps as the lack of regulatory approval hinders the latter’s growth
BUSINESS
Groww eyes up to $9 billion valuation, to file updated IPO papers this week
Initially, Groww, which is looking at a November market debut, was targeting a valuation of $7-8 billion but a strong FY25 and a healthy Q1FY26 could result in a higher valuation, sources have told Moneycontrol
BUSINESS
After a tough FY25, fintech NBFCs expect GST cuts to revive growth and margins this year
Industry watchers expect a phase of consolidation, where stronger players with healthier balance sheets and access to capital markets will pull ahead, while smaller or weaker NBFCs, especially those focused on unsecured lending, may be forced to rethink their strategy or seek partnerships.
BUSINESS
PhonePe, Google Pay's UPI market share slips as Navi, super.money gain ground
To be sure, IPO-bound PhonePe still dominates the UPI payments landscape, with a little over 45 percent market share, so these figures do not shift the competitive landscape materially
BUSINESS
UPI transaction value dips Rs 2,500 cr in August after Centre’s ban on online real-money gaming
The online RMG ban took effect on August 22, less than 96 hours after cabinet clearance, in what may be one of the swiftest policy moves in recent parliamentary history
BUSINESS
Powered by quick commerce, online credit card payments set to surpass offline transactions
Shift towards UPI for small payments have also led to the decline of credit cards use at offline outlets
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.
