Payments

The high growth has been aided by a flurry of UPI payments-focused fintech apps launching Rupay credit cards for offline merchant transactions

JPMorgan seeks to accelerate push into payment services in India

JPMorgan is deepening its India play in cross-border payments and transaction banking, to serve both multinational firms operating in India and Indian companies expanding overseas.

Fintech player Pine Labs kicks off international roadshows, targets IPO launch after Diwali

The fintech player is contemplating a post-Diwali window to launch the IPO, targetting late October or early November for the offer, sources said, contingent to regulator Sebi’s approval and prevailing market conditions.

Prosus-backed PayU plans to raise up to $300 million ahead of proposed IPO

The fundraise plan comes ahead of the company's proposal to list on the stock exchange, with the minority stake sale being planned to gauge investor demand and set a valuation benchmark for the IPO

One97 Communications to invest Rs 300 crore in broking entity Paytm Money

Meanwhile, First Games, a joint venture of Paytm, has discontinued its real-money gaming business after the new law banning real money games in the country

Paytm reduces headcount by 4,500, employee expenses down by Rs 650 crore in FY25

Paytm had 44,000 employees in FY24, which came down to 39,400 in FY25, resulting in higher than the estimated savings of Rs 400-500 crore

UPI crosses 700 million daily transactions, doubles in two years

In August 2023, UPI was registering around 350 million transactions a day. During August last year, UPI was registering around 500 million transactions

PhonePe partners with SBI Card for second co-branded card after alliance with HDFC Bank

Ahead of its upcoming IPO, the country’s largest mobile payments player is looking to augment its revenue with multiple cobranded credit card partnerships

Maharashtra, Karnataka top UPI transactions, 4 states report over a billion transactions

Maharashtra accounted for around 13% of UPI transactions followed by Karnataka at around 7.7%.

Karnataka to launch system to track gig worker payments, welfare fee deductions

Karnataka government has also constituted two expert working groups to prepare draft rules and oversee implementation of the Platform-based Gig Workers (Social Security and Welfare) Ordinance, 2025.

NPCI profit grows 42% to cross Rs 1,500 crore in FY 25, revenue surpasses Rs 3,000 crore

NPCI, which is registered as a not-for-profit organisation, mentions net profit as surplus in its FY 24 annual financial statement

3one4 Capital clocks 'high-multiple' exit from ToneTag after 8-year investment

ToneTag, which counts Google, Amazon, and major Indian banks among its clients, claims to process over $32 billion in total payment volume

Lack of revenue model on UPI might push more fintechs towards Rupay credit card

Rupay credit cards can be linked with a UPI account and attract MDR, which generates revenue for ecosystem partners

Travel fintech Scapia launches Rupay credit card to target UPI payments, merges credit line and statement with Visa card

Customers are frustrated with the long bank statements because of the UPI payments, and the company’s dual cards with a single statement offer them a unique solution to merge all their payments into one app

Fintech Slice set to launch Rupay credit card months after merger with NESFB

At its peak, Slice had more than 2 million pre-paid cards in circulation, challenging several mid-tier private sector banks' credit-card business

World-beater in the making: UPI on the cusp of surpassing Visa’s daily transaction volume

The feat is even more remarkable because card networks such as Visa and Mastercard follow a deferred settlement model compared to UPI’s real-time payment settlement model

New payment regulatory board is MPC-like independent body and will spur innovation, say fintech executives

There is a growing recognition within the political sphere that payments have, in effect, outpaced traditional banking in both scale and public impact.

GenAI to personalise financial services, help build billion-dollar companies in days, Amazon Pay’s Mahendra Nerurkar

Personalisation will help customers connect with financial services at a much deeper level, increasing their adoption and awareness, panellists said

Flipkart’s super.money launches cobranded credit card, looks to achieve profitability by year-end

Launched in July 2024, super.money has emerged as the fifth largest UPI app in the country.

PhonePe designates top officials as key management personnel after turning into public company

The Walmart-owned PhonePe is the country’s largest mobile payment company with close to 50 percent market share

Several UPI users affected after PhonePe's disaster recovery drills created capacity constraint

PhonePe is the largest UPI player with 47 percent volume and over 50 percent value market share

PhonePe to list on Indian exchanges, begins IPO process

PhonePe redomiciled from Singapore to India in December 2022. The company said it has established a clear corporate structure with each of its new non-payment businesses as fully owned subsidiaries.

Juspay set to become first unicorn of 2025 with $150 million round

Juspay, founded by Vimal Kumar and Sheetal Lalwani in 2012, is the leading provider of payment orchestration software.

Davos 2025: If partnerships erode brand, we will take a call that makes sense, says Razorpay’s Harshil Mathur on Juspay

Razorpay is trying to work with global payment players, including Stripe, JP Morgan Chase and others to see how it can collaborate to increase the cross-border penetration

MC Explainer: Why Razorpay, PhonePe & Cashfree Payments are cutting ties with third-party orchestration platforms

Take a closer look on whether this decision will reshape the dynamics of merchant payment integrations, affecting the ease of operations or if it will impact payment orchestrators in India.