Relying on smartphones for almost everything has become the new normal in today’s fast-paced world, particularly when it comes to financial services. But it is actually the financial technology in the background that enables these services, making transactions a simple act of a touch or a click. Here’s a primer on the basics
The National Payments Corporation of India (NPCI) on Thursday launched the Rupay credit card on UPI platform, following a RBI policy move authorising it.
Fintechs looking to capture market share from players restricted by new norms; see inflation as a tailwind for credit demand.
The company plans to use proceeds to scale its business in the next 24 months.
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.
More than $1 billion worth of investments were made in digital lending in 2021 and the market is expected to grow to $515 billion in book size by 2030, a report by Chiratae Ventures and Ernst & Young says
For the next five years, CLSA expects credit card spends to grow at a compound annual growth rate (CAGR) of 19 percent, down from the 24 percent CAGR in the past five years. The stagnation will come from companies tapping customers from smaller towns and cities where per capita consumption is lower.
BNPL start-up founders will have to innovate to sustain the business through privileged access, technology, underwriting loans, etc, says Sandeep Patil
Experts are revising growth estimates downwards for the industry for FY23 in light of the current macro environment. Besides, increased focus on compliance may make these players lend in a more structured manner and not at the same pace as earlier.
Innoviti will use the funds to expand the company’s mid-market product lines in electronics, fashion, and grocery as well as build products on its UPI payment channels, the startup said
The central bank sees too many risks involved with the proliferation of online fast-loan providers, despite the relatively small amounts involved
MUNAFA will serve as a trusted source of information, content, and business connections for Indian MSMEs supporting them across every stage of their journey, the fintech said.
Buy Now Pay Later has been touted as increasing financial inclusiveness, but at a time of rising interest rates, credit at the click of a button and without necessary safeguards, could snowball into a crisis
Securitization packages of buy-now-pay-later loans from one provider, Affirm Holdings Inc., are falling in price for investors to buy while becoming more expensive to issue, after rising rates and a cost of living crisis cast a shadow over the sector.
Uni’s debt fundraise comes at a time when equity funding to Indian startups is slowing. Consequently, many startups, especially the ones that need cash to survive, are shifting to offshore debt and venture debt.
FlexiLoans.com said that the investment round provides it a strong runway for its growth as it comes at a time when there is a fintech push by the government, especially for the MSME sector.
The startup will however allow all customers to divide repayments across three months for no interest for in-app purchases in an attempt to increase transactions with its merchant partners. The move will help the company make revenue-earning features more attractive and help accelerate its profitability plans, according to sources.
New Delhi, May 19 Online travel firm MakeMyTrip on Thursday said it has partnered with 15 banks, NBFCs and fintech players, including HDFC Bank, ID..
Credit cards and instalment-based credit schemes such as Buy-now, Pay-later are the most commonly used credit products by the underserved consumers
Credit card spends have survived the rapid expansion of the Unified Payments Interface, which continues to eat into the payments pie. But with BNPL posing a fresh challenge, issuers face a challenge in widening credit card usage.
Besides understanding BNPL business models, the department’s other main agenda is the CBDC.
Buy now pay later has become a prominent mode of payment in the last few years especially among youngsters. Unlike other forms of lending, BNPL is a low-cost short term credit which does not require a credit score.
This is M2P Fintech's third round in less than a year and the largest till date. The company plans to invest in international expansion and acquisitions.
Bangalore, Mumbai, New Delhi, Pune, Hyderabad, Chennai, Ahmedabad, Thane, Kolkata, and Jaipur emerged as the top cities witnessing demand for BNPL in 2021, according to the report based on BNPL platform ZestMoney's user base.