-
Routing traffic to its own payment gateway instead of others it has integrated with may be at the heart of the matter.
-
The most concerning aspect of recent events is that this goes against the open API and interoperability model of the Indian payments ecosystem
-
The company reported a 4.7x growth in net profit, which stood at Rs 35 crore during FY 24
-
After five straight years of profitability, Cashfree slipped into the red in FY22 in the wake of the RBI banning the enrolment of new merchants. The company is hoping to claw back to profit in the first quarter of FY25, on the back of new products along with meeting the pent-up demand for new merchant sign-ups.
-
The Apis Partners-backed fintech recently raised a bridge round of Rs 150 crore from existing investors, sources tell Moneycontrol.
-
Mswipe has recently received the payment aggregator license from the Reserve Bank of India (RBI), allowing it to offer online gateway and aggregator service, particularly targeting MSMEs.
-
After receiving the final nod from RBI to operate as a payment aggregator, the Bengaluru-based firm expects payments to continue to contribute more than 65-70 percent of its overall revenues
-
The decision will allow the authorities to distinguish legitimate transactions from fraudulent ones
-
The in-principle nod comes two years after Mobikwik filed an initial application with the RBI. In 2021, Mobikwik applied for the PA license for Zaakpay to RBI, however, the same was rejected and the firm re-applied in October 2022
-
According to experts, the delay may be due to the stringent approval process that is aimed at ensuring transparency, standardisation and trust in India’s fintech ecosystem
-
The new Curlec Payment Gateway launched by Razorpay will serve more than 5,000 businesses with a target of RM 10 billion (Approx. USD 2 billion) in annualised Gross Transaction Value (GTV) by 2025.
-
Razorpay which is in the process of reverse flipping its domicile back to India is looking to go for an IPO in the next two-years.
-
While Cashfree is asking for $1.2 billion, the suitors are seeing only $600 million value at the top end for the company, sources have told Moneycontrol
-
The space is presently dominated by Razorpay, Cashfree, CCAvenue, Pine Labs, and PayU. One97 Communications Limited, the parent company of Paytm also launched its own payment gateway in 2012.
-
Razorpay expects to resume onboarding after a few weeks
-
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.
-
Easebuzz joins companies such as Razorpay, Stripe, Pine Labs and MSwipe that have received in-principle approval for the license.
-
MSwipe received in-principle approval from the Reserve Bank of India (RBI) for the payment aggregator license on August 8. The company also cross-sells loans to merchants.
-
The growth in profit and revenue was driven by a 72 percent YoY growth in Transaction Processed Values (TPV) to Rs 87,218 crore in the quarter.
-
The TIN 2.0 platform went live on July 1 this year and the "Payment Gateway" has been enabled, providing one more payment option to taxpayers, who can now make their payments with ease, using modes such as Credit/Debit Card, UPI, NEFT/RTGS and Internet Banking.
-
The company is targeting online stores, big e-commerce companies, large-scale government institutions, and large financial services companies to partner with. Plural will help make the offline-to-online transition easier for merchants.
-
IRCTC’s opportunity set now goes beyond the monopoly businesses with Indian Railways into an interesting new-age area as well. Hence, despite its steady outperformance, the stock remains a long-term compounder, suitable for any investor. Find out more
-
Having limited and phased regulation could help RBI monitor and fill regulatory gaps
-
RBI also suggested that e-commerce marketplaces will have to be separated from the payment gateway or aggregator business.
-
After rolling out guidelines for Bharat Bill Payment System (BBPS), a central host for payment gateway services in the country, the Reserve Bank of India is expected to start the process of inviting applications from interested parties.
