BUSINESS
Corporate Crossings | WhatsApp Pay India head Manesh Mahatme quits, likely to join Amazon
Mahatme's resignation comes at a time when WhatsApp’s mobile payments business has failed to take off in a significant fashion in India
BUSINESS
Fintechs need to ‘live' compliance, knowing regulations is not enough: Axis Bank MD & CEO Amitabh Chaudhry
Amitabh Chaudhry, MD & CEO of Axis Bank, added that while fintechs agree they understand the meaning of the word ‘compliance’, it is time they consciously start making it a part of their business model
BUSINESS
DotPe raises $58 million in Series B, to expand into B2B financial services
The company plans to use the proceeds of the fundraise to grow its merchant base three times in the next two to three years
BUSINESS
Upstox raises funds from cricketer Shikhar Dhawan, footballer Larry Fitzgerald
The additional investments follow Upstox’s Series C round of $108 million in November 2021
BUSINESS
Panel on VC, PE funding to ensure regulations: TVS Capital Funds CMD Gopal Srinivasan
On September 9, the government constituted a six-member expert committee to be headed by former SEBI Chairman M Damodaran to address regulatory issues and to scale up investments by VCs and PEs. Srinivasan is also a senior board member of the Indian Private Equity and Venture Capital Association (IVCA).
BUSINESS
We are open to fintech partnerships, says Kotak Mahindra Bank’s new CTO
Exclusive Interview | Milind Nagnur, the first CTO of Kotak Mahindra Bank, envisions banks as tech-focused organisations and says the customer’s idea of trust has changed
BUSINESS
Sachin Bansal-led Navi Technologies gets SEBI nod for Rs 3,350 crore IPO
The fintech company plans to invest the proceeds of the IPO in Navi Finserv and Navi General Insurance companies in addition to general expansion goals.
BUSINESS
BNPL players expect up to 8X credit spike in festive bonanza despite RBI speed-breakers
Fintechs looking to capture market share from players restricted by new norms; see inflation as a tailwind for credit demand.
BUSINESS
Exempt payment aggregators from bank account norm in digital lending: Payments Council to RBI
The Reserve Bank of India's (RBI) digital lending norms mandated that loan disbursals and repayments should be made to and from the borrowers and the RBI-registered lender's accounts, without passing through any third party accounts.
BUSINESS
Competition Commission approves acquisition of BillDesk by PayU for $4.7 billion
While the detailed order by CCI is awaited, the approval was long pending for India’s second largest internet deal after Walmart’s acquisition of Flipkart in 2018.
BUSINESS
Exclusive: PhonePe begins work to launch its own payment gateway
The company may target large offline players to offer its payment gateway services. Besides, the foray will also enable in-app purchases for PhonePe, reducing its dependence on external payment gateways.
BUSINESS
Pivots, token delay, funding crunch: Indian Web3 founders get a reality check
Entrepreneurs who were starting up are now pivoting, delaying token launches and fundraises. Questions are being asked about the real use cases and unit economics of many of these ideas.
BUSINESS
CoinDCX wants to help build the crypto ecosystem in India, not merely chase revenue: Founders
Despite a crypto bear market, the crypto exchange has zero attrition and 25,000 job applications from people who are “actually enthusiastic” about the industry, say Sumit Gupta and Neeraj Khandelwal
BUSINESS
MC Investigation | Indian banks' repeated failures on mobile, internet platforms show the rot runs deep
Core banking systems that can't keep pace with rising load and fast digital changes, lack of an adequate number of talented tech professionals, and reluctance to invest in infrastructure for unremunerative UPI mean more system outages and glitches.
BUSINESS
CoinDCX unveils DeFi and Web3 app aggregation platform Okto
The app will also help customers who have invested in crypto to use their coins further on other use cases in the Web3 ecosystem without having to withdraw their crypto assets from their wallets.
BUSINESS
Google blocked 2,000 personal loan apps from India Play Store from January-July
Tech giant says it is working with government agencies and other stakeholders to weed out bad actors.
BUSINESS
Financial services are a basic need like roti, kapda, makaan, says Groww founder Lalit Keshre
In an episode of Bits to Billions, Keshre revealed that his beginnings were humble and that he hails from Lepa, a small village in Madhya Pradesh’s Khargone district.
BUSINESS
At Paytm AGM, Vijay Shekhar Sharma uses charm offensive to win over angry investors
Shareholders asked difficult questions about profitability and share prices in fintech unicorn’s first annual gathering of shareholders after listing
BUSINESS
Uni suspends card services after RBI's digital lending norms hint at tighter scrutiny against PPI lending
Uni's move of inactivating its existing cards comes a day after Moneycontrol had reported that its prepaid card partner State Bank of Mauritius India is looking to pause the onboarding of new customers until further clarity emerges on the RBI's views on the model.
BUSINESS
More trouble for Slice: SBM Bank India to stop onboarding new customers for credit on PPI
The bank had sent a communication to Slice, Uni and PayU's LazyPay on pausing new customer onboarding after the Reserve Bank of India (RBI) approved the first set of guidelines on digital lending on August 10. Uni and LazyPay had stopped onboarding new customers since June.
BUSINESS
With Ezetap in the bag, Razorpay CEO Harshil Mathur eyes top spot among omnichannel payment providers
Razorpay will be acquiring 100 percent stake in Ezetap. The size of the deal according to sources is estimated to be $150-200 million.
BUSINESS
Decoding Prem Watsa-backed Digit Insurance's IPO documents in five charts
The company on August 16 filed draft documents for an initial public offering, whose total size is likely to be around Rs 5,000 crore
BUSINESS
Razorpay makes offline foray, acquires PoS player Ezetap
In its fifth acquisition in less than four years, Razorpay picks up an 80 percent stake in Ezetap Solutions Pte Ltd, the parent entity of Ezetap Solutions Pvt Ltd, which will see it go up against Pine Labs, MSwipe and BharatPe among others
BUSINESS
Prem Watsa-backed Digit Insurance files draft documents for Rs 5,000-crore IPO
As per the draft documents, the company is looking to raise Rs 1,250 crore from a fresh issue of shares and through an Offer for Sale of 10.94 crore equity shares for an undisclosed amount
