Page 13 - Ajinkya Kawale

UPI payments through biometrics likely soon; PIN may become optional

The National Payments Corporation of India (NPCI) is preparing to roll out this update to UPI, which is expected to enhance security and convenience

RBI's digital payments index increases to 493.22 as of March 2025

Index up from 465.33 in September 2024, reflecting rapid digital adoption and stronger payment infrastructure and performance across India

Fintech player Paytm's Q1 FY26 profit attributed to tight cost cuts

Paytm posted a net profit of Rs 122.5 crore in Q1FY26, driven by sharp cost controls, after a steep loss in the corresponding quarter of FY25

Setu makes leadership appointments, hires executives from major fintechs

Setu strengthens its leadership team with experienced executives from Razorpay, PhonePe, and other fintech giants to drive growth

Xflow secures in-principle nod for cross-border payment aggregator licence

Fintech Xflow gets RBI's in-principle approval to operate as a payment aggregator for cross-border transactions, aiming to simplify global payments

WazirX parent to launch revote on amended scheme starting July 30

WazirX's parent company Zettai will allow users in India to revote on an amended scheme of arrangement from July 30 to August 6 after the Singapore High Court rejected the previous plan

PayPal to integrate UPI for cross-border payments with global partners

PayPal is partnering with NPCI International and global wallets to enable Indian users to make cross-border payments using UPI, starting with US-based merchants

AI demo firm Olto raises $5.1 mn from Nexus, The General Partnership

San Francisco-based AI startup Olto secured $5.1 mn in a pre-seed round co-led by Nexus Venture Partners and The General Partnership to automate and personalise B2B demos

Gaming firm MPL bets on AI to boost development cycles, write code faster

When it comes to changing the workflows or pushing minor features, the gaming company is encouraging its developers to outsource repetitive tasks to an AI agent or code editors

Paytm swings into black, makes ₹122.5 crore net profit in Q1 FY26

In Q2FY25, Paytm had reported a profit but it was due to the sale of its ticketing business to Zomato

Fintech self-regulator issues code of conduct for regtech companies

Members of FACE (Fintech Association for Consumer Empowerment) that provide regulatory technology products must implement the code within six months

Fintech firm PayU India to invest $120 mn by end of FY26, say senior exec

The credit business is expected to get an investment of $50-$60 million. PayU is considering another $60-$70 million infusion in payments infrastructure firm Mindgate Solutions

US legal backing for Stablecoin starts regulatory debate in India

Supporters say crypto can be used for purposes as varied as managing government subsidies and trade settlements

Pilots seek clarity over crash probe, say speculation impacting morale

Pilots and cabin crew members from across airlines said they hoped for more transparency and representation in AAIB, which they believed would help prevent the stress caused by widespread speculation

Nazara's stake in Nodwin to drop below 50% after internal fundraise

Nazara Technologies will cease to hold a majority stake in Nodwin Gaming after opting out of the latter's internal fundraise, but remains its largest shareholder

EximPe secures in-principle nod for cross-border payment aggregator licence

EximPe gains RBI's in-principle approval for a cross-border payment aggregator licence, plans to expand 10x by FY26 and enhance services for SMEs and B2B trade in Asia

PhonePe retained top UPI spot with 46% market share in June, shows data

PhonePe maintains its leadership on the UPI leaderboard, capturing a 46.46% market share in June, processing over 8.54 billion transactions, according to NPCI data

Fintech firm Cashfree Payments plans to add 100 lenders for VKYC by FY26

Cashfree Payments aims to scale its AI-based Video KYC solution to 100 lenders by FY26, targeting RBI-regulated entities to improve conversion rates and reduce wait times

ED cracks down on opinion trading platform Probo, freezes ₹284.5 crore

The Enforcement Directorate (ED) freezes ₹284.5 crore worth of assets in its crackdown on Probo, an opinion trading platform. The company assures co-operation with ongoing law enforcement inquiries

Gaming firms craft new strategies to cash in on gameplay, scale reach

At the heart of the monetisation game, companies are betting on two pillars: In-app purchases and revenue from advertising