NPCI gets new shareholders, allots 4.6% shares worth Rs 81.6 crore
NPCI has broadbased its shareholding to 67 RBI-regulated entities; now payment banks, small finance banks, and digital payment companies have all become shareholders of the retail payments body.
Indian crypto market picking up activity on cues of a global rally
The Indian crypto trade is seeing something of a revival on the back of a global run-up, but investors still wary of government's plans on this sector. Industry insiders believe regulations will make this a much more vibrant industry with more retail and institutional participation
Fino reports profit of Rs 4.5 crore as business comes out of slowdown
The Mumbai-based payments bank has set a target of creating a 10-lakh strong physical network in the country by 2023.
Shipsy gets $6 million from Sequoia Surge, Info Edge
Shipsy wants to use the funds to expand across geographies, look for more market share and expand its operations.
Insurance startup Digit set to break even by the end of this year
Lower operating costs, massive equity funding and improved business metrics have bolstered the insurance upstart’s performance, even in the face of a raging pandemic that has left many other insurers reeling
Zerodha's Rainmatter invests Rs 10 crore in open-source project ERPNext
With the funding, the ERPNext team intends to strengthen the open-source software program in India.
Sebi permits debt securities allotment through UPI; industry hopes for larger retail participation
Industry insiders point out that till date the debt securities market has been dominated by institutions and HNIs. Now, with UPI coming into the picture and Sebi keen to make the process digital, more retail traders could enter the business
Indian banking tech companies look for fresh opportunities outside India
FSS, Pine Labs, i-exceed and Perfios are building technology solutions in India, testing them with Indian banks and Indian consumers, and taking those innovations overseas, where manual processes are still common.
Enkash targets 10,000 businesses with its new prepaid business card
Enkash has launched a new business prepaid card which can be used to digitise pay outs at individual branches or teams for corporates whih have a distributed presence. These cards will give central teams complete control over spends incurred by branches which can be processed through one single current account
Nira gets an additional million dollars from existing investors
Founded by ex-Goldman Sachs top executives, Nira lends to consumers from weaker financial backgrounds and extends a credit line to them through their mobile app
Eduvanz acquires mentoring platform Klarity
Eduvanz which processes education loans for students has acquired Klarity which connects students with mentors from the industry who can help them with their future coursework, job openings and others
Exclusive | Fewer people using credit cards as Covid-19 hurts consumption
Overall, card transactions in 2020 for merchant payments are down 17 percent compared to last year, with credit card swipes falling below those of debit cards, indicating consumers may be conserving their credit lines for emergency use.
Zomato to offer free takeaway to its restaurants
Zomato wants more people to start ordering food from restaurants, since there are almost no cases of Covid transmission happening through food delivery.
Moneytap gets Ashutosh Dabral as new chief product officer
Ashutosh Dabral, An IIM Calcutta almnus, has worked with large tech giants like Yahoo, Dell, AOL and others. He was running his own venture before joining Moneytap.
RBI selects six companies in first cohort for regulatory sandbox; two names announced, four to follow
The RBI has shortlisted two companies for its regulatory sandbox programme built on the theme of retail digital payments. Both the companies are working towards helping digitise rural payments through innovative means.
Ex-banker set to start his own neo-banking startup SaveIN
Jitin Bhasin was heading fintech company RupeeRedee, but he quit recently to start SaveIN. Though the neo-banking ecosystem in the country is already getting crowded, Bhasin wants to create a different experience through technology innovations and a superior mobile banking experience through an app or a website.
COVID-19 pushes Shopify's business in India as more businesses go online
Canada headquartered Shopify is seeing a rapid growth in its global business, with multiple small businesses going online to avoid COVID-19 blues. Shopify India has seen 120 percent growth in new merchant additions in 2020 compared to 2019.
Small-Town Startups | Lokendra Singh Ranawat: From London to Udaipur, trying to build an online furniture retailing startup
Back in 2015, when the ecommerce bug had bitten the entire business community, Lokendra Singh Ranawat chose to relocate from London to Udaipur to start Woodenstreet, an omnichannel handcrafted fruniture startup, which sells online and across all the major cities in India
WhatsApp Pay Explained: How to set it up, how to send and receive money, how it works and other questions answered
In a decision that will have a huge impact on India’s payments space, NPCI has allowed WhatsApp to go live on its United Payments Interface.
Explained | WhatsApp Payments goes live in India, what does this mean for the ecosystem?
Almost three years after being launched in a beta testing stage, NPCI has finally allowed WhatsApp to start payments with an initial limit of 20 million users.
Tally launches Tally Prime to help small businesses innovate faster
Tally is looking to introduce more products as small businesses rush into digitisation mode, with COVID-19 heavily disrupting offline businesses. Tally Prime can be the bedrock of the new innovations, and product launches which are expected to follow.
EMI payments sparkle as festive season sales pick up
Industry insiders say there is massive demand for zero-cost EMI purchases this festive season, as consumers prefer cheap credit lines to dipping into their savings during these uncertain times
Agritech startup Eggoz gets $1.5 million from Avaana Capital, Rebright Partners
The startup is trying to bring in technology to make the supply chain of eggs stronger, increase productivity for farmers and help them make more money in the process
Giving DIY diagnostics a boost, the Inito way
The medical devices firm hopes its fertility monitor will show the way forward for pathological tests to be done at home via smartphones.
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