BUSINESS
Retail digital payments zoom 100x in 12 years, thanks to UPI
In 2024, UPI processed 172 billion transactions worth more than Rs 245 lakh crore and accounted for 83 percent of all digital transactions during the year, an RBI report has said
BUSINESS
Davos 2025: If partnerships erode brand, we will take a call that makes sense, says Razorpay’s Harshil Mathur on Juspay
Razorpay is trying to work with global payment players, including Stripe, JP Morgan Chase and others to see how it can collaborate to increase the cross-border penetration
BUSINESS
Davos 2025: India's stable policies and democracy will help attract investments under new Trump administration, says Raghuram Rajan
Every state must expand jobs wherever they can because that will give confidence to consumption, Rajan said
BUSINESS
MC Explainer: Why Razorpay, PhonePe & Cashfree Payments are cutting ties with third-party orchestration platforms
Take a closer look on whether this decision will reshape the dynamics of merchant payment integrations, affecting the ease of operations or if it will impact payment orchestrators in India.
BUSINESS
RuPay’s credit card market share rises to 12 percent in 2024, transaction volume growing 20% monthly
The cumulative monthly transaction value of Rupay is around Rs 14,000 crore a month, while the overall credit card network value is around Rs 1.8 lakh crore, which translates into a 7.5 percent market share
BUSINESS
Davos 2025: Cutting interest rates alone will not boost credit growth, Axis Bank MD Amitabh Chaudhry
The RBI’s primary concern is controlling inflation and once it subsides, the central bank is expected to cut interest rates, Chaudhry has said
BUSINESS
Davos 2025: States' freebies affecting India’s growth and development, says Axis CEO and MD Amitabh Chaudhry
According to him, for the GDP growth to come back, state governments play an important role in getting the urban development and the capex cycle going
BUSINESS
Davos 2025: Bajaj Allianz can withstand any turbulence, Allianz withdrawal not a cause of worry: CEO Tapan Singhel
The company may have to go for an IPO sooner rather than later, as the regulator has been nudging most large companies to go public, the CEO has said
BUSINESS
As banks go risk-shy, fintechs corner 76% of personal loans disbursed in first half of FY25
The average value of a loan disbursed by fintechs was around Rs 9,200, indicating the predominant share of small-ticket loans
BUSINESS
Union Budget 2025: Fintechs seek measures to ease credit squeeze
Any financial support from the budget is likely to provide crucial to fintech businesses struggling to secure commercial finance in their early stages, say industry insiders
BUSINESS
New data protection rules pose compliance and operational hurdles for fintech startups
The new regulations may increase operational costs, slow innovation and would particularly affect smaller firms in the fintech sector, feel most experts
BUSINESS
Navi, super.money continue to gain UPI market share as PhonePe and Google Pay dominate
Though NPCI has extended by two years the deadline to implement 30 percent market cap share, PhonePe and Google Pay together account for close to 85 percent of the UPI market share
BUSINESS
Bharat Connect payment volume doubles to 2.2 billion in 2024 on surge in credit card payments
The share of credit card bill payments in transaction value touched 62 percent of all bill payments through the platform, pushed by RBI mandate to route all such payments through Bharat Connect
BUSINESS
UPI likely to cross 171 billion transactions in 2024, grows 45% over last year
The value of transactions will likely cross 245 lakh crore for the calendar year, a growth of 34 percent
BUSINESS
2024 turns out a blockbuster year for brokers despite lower returns
Even in October and November, when the markets hit the lowest levels this year, the customer addition remained better than most months of 2023
BUSINESS
Fintech 2024: How Paytm, Navi went through a trial by fire, and bounced back
Next year is likely to see fintech IPOs from InCred, Pine Labs, PayU and Razorpay. CRED and PhonePe might launch theirs in 2026.
BUSINESS
Sebi's Ananth Narayan cautions fintechs and brokers not to turn a blind eye towards malpractices
Narayan said that if the fintechs could form an association to speak in a unified voice, they can become a trusted advisor to Sebi
BUSINESS
How Sachin Bansal's Navi Finserv reversed RBI lending ban in quick time
Navi’s move to reduce the peak interest rates could also mean that it will naturally reduce its exposure to customers with higher risk profiles and is likely to help the company reduce its NPA during FY 25
BUSINESS
Flipkart Group's super.money becomes sixth largest UPI app
Meanwhile, Sachin Bansal-led Navi saw a month-on-month decline in the number of transactions for the first time since April this year when the firm started courting payment users aggressively with cashbacks
BUSINESS
20 more fintechs secure UPI app licence to take on PhonePe and Google Pay
A large majority of those are either launching or planning to launch Rupay credit cards that can be linked to UPI, which offers customer rewards of cards and cashbacks of UPI apart from credit free period
BUSINESS
UPI helping us reimagine financial services, says super.money CEO Prakash Sikaria
Super.money will launch a fixed deposit facility on November 21. The FD is being been launched in partnership with four small finance banks and private sector lender South Indian Bank
BUSINESS
Sachin Bansal's Navi overtakes Cred to emerge as fourth largest UPI app
Flipkart Group’s super.money doubled the number of transactions in October, overtaking NPCI’s BHIM app
BUSINESS
Aadhaar-based digital payments decline as large banks drag their feet on interoperability
Many public sector banks have been hesitant to approve transactions coming from third-party business correspondents, citing fraud and money laundering
BUSINESS
Groww widens lead over rivals, adds 3.5 lakh traders in October
Groww has almost doubled its user base in one year to around the 1.25 crore, while nearest rival Zerodha added only 15 lakh new users
