Dec 05, 2022 10:12 PM IST

UPI clocks 19.65 billion transactions at Rs 32.5 trillion in Q3 2022: Worldline’s India Digital Payments Report

Overall, In Q3 2022, UPI, Debit and credit cards, and prepaid payment Instruments like Mobile Wallets, and prepaid cards executed 23.06 billion transactions amounting to Rs 38.32 trillion.

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KreditBee raises $80 million in Series D round from existing investors

KreditBee will use the funds to venture into secured loans, home loans, and credit lines. It will also add financial services like insurance, credit score report, and merchant-side offers, among others.

Payments Council launches common icon library for uniformity, fraud prevention

Project Pratima lays down the design principles and basic guidelines to make icons easily recognisable and accessible to users across platforms of the members of the Payments Council of India.

Hard cash, made easy | Digital Rupee will enhance financial inclusion: Fintech industry

Digital currencies have many benefits like zero currency loss and lower operational costs associated with physical cash management.

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CRED to acquire lending as a service platform CreditVidya

CreditVidya offers services for entire loan life cycles from origination to underwriting to collections of loans. The platform also allows customers to seek loans from its lending partners.

Digital lenders align with new RBI norms ahead of November 30 deadline, brace for consolidation

Fintechs have changed core business models, lending flows and processes since the new digital lending norms came into effect in August.

BharatPe sees four leadership exits, including tech, product and PostPe leads

The company said in a statement that the four executives are moving on to pursue their entrepreneurial plans

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PhonePe in talks to buy ZestMoney to bolster digital lending plans

The development comes at a time when PhonePe is in talks to raise a mega round of $450-500 million, likely to be led by General Atlantic.

For big tech and banking, cautious optimism is a better approach

Regulators around the world have already taken or are contemplating a variety of steps and policy measures to contain and manage the risks arising from big techs’ linkages with the banking and financial services sector

PayU India's revenue grew by 38% in the first half of FY23

PayU India's growth was aided by increased digitisation in retail through e-commerce, financial services and bill payments, besides travel and hospitality bouncing back, parent company Prosus has said in its earnings presentation

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Fintech Firm CredoPay Forays into Middle East

Prior to expansion to Middle East, CredoPay had operations in India, South Africa, Latin America and Sri Lanka.

RIL's fintech ambitions could create India's 5th largest financial services firm: Macquarie

Reliance Industries can leverage its NBFC licence, network of stores and existing telecom and retail customers for Jio Financial Services, the foreign brokerage said

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Open gets RBI's in-principle nod for payment aggregator licence

A payment aggregator provides payment services to merchants and e-commerce sites by accepting payment instruments from customers. It is different from payment gateways which provide technology services for processing transactions but don’t handle funds

Riding the credit boom won’t be easy for PSU banks

Public sector bank shares are in demand, rising by 28 percent in a month. Investors are betting they will ride the anticipated credit boom

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Payworld to enter data-based credit services business; aims to double GTV to Rs 22,000 crore in a year

The company claims to have gross transaction value (GTV) of around Rs 11,000 crore at present.

White Venture Capital to back executives, former founders to build startups

White Venture’s ‘Call to Adventure’ programme will fund executives to build startups and pay salaries to entrepreneurs while they are at it

PB Fintech CEO Yashish Dahiya: Investors need to know we are a boring company that will keep growing; there will be no tamasha

PB Fintech is aiming to deliver Rs 1,000 crore in profits by FY27. The company aims to increase the annual run rate for insurance premiums from Rs 10,000 crore currently to Rs 35,000 crore by FY27.

Quona Capital closes $332 million fintech fund to invest in emerging markets

In India, Quona Capital sees an opportunity to invest in fintech infrastructure, embedded and verticalised finance as well as insurtech.