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100% FDI in insurance a step forward, but safeguards unclear: USTR report

These safeguards include requirements such as a majority of board members being resident Indians and higher solvency requirements for foreign-invested insurers domiciled outside India

UPI outage due to financial year-end transaction rush at banks, says NPCI

Transactions volumes declined 7 per cent on March 26 after the UPI network had reported an outage

NPCI attributes fin year-end processing load for UPI transaction failures

In March, the UPI network recorded more than 591 million average daily transactions

Payment aggregators push back against Juspay Tech's orchestration

Delays, token access hurdles spark industry opposition; open-source move under scrutiny

Krafton acquires controlling stake in Nautilus Mobile for Rs 118 crore

Company's decision to acquire a controlling stake follows its initial investment of Rs 40.5 cr in Nautilus in 2022. The Pune-based game studio has developed the cricket gaming franchise Real Cricket

Tata Neu HDFC Bank cobranded card surpasses 2 million issuances

Grocery, fuel and utilities are among the top spend categories for the credit card

MobiKwik to enter stock broking business, incorporates new subsidiary

The company plans to become a member of various stock and commodity exchanges in the country and abroad

UPI faces outage, NPCI reports intermittent technical issues with network

Third-party apps said that they raised the issue with NPCI after the initial outages were reported on their app

MDR demand gains momentum as industry bodies rally behind proposal

MDR refers to a fee that merchants pay banks or companies (fintech) processing payments for executing a transaction

Fintech major Paytm asks merchants to snap ties with third-party platforms

The move comes at a time when other players, including PhonePe, Cashfree Payments, and Razorpay, made similar moves nearly two months ago

RBI, NPCI approve Rs 2 hike in ATM interchange fee from May 1, 2025

The revised interchange is not applicable for micro-ATM, interoperable cash deposit (card-based and UPI-based), and international ATM transactions

BHIM will continue to be sandbox or reference app: CEO Lalitha Nataraj

The latest version of BHIM 3.0 will be rolled out in phases to its customers, with the body planning a complete launch by April 2025

Fintech NBFCs sanctioned 83 mn loans in first 3 quarters of FY25: Report

It added that quarter-on-quarter (Q-o-Q) sanction value had declined by 15 per cent in the third quarter of FY25 (Q3FY25) compared to the previous quarter

Trillionloans Fintech secures 'IND BBB+' rating from India Ratings

The non-banking financial company (NBFC) plans to leverage BharatPe's merchant network with a base of over 18 million customers

Payments body PCI urges PMO to levy MDR on UPI, RuPay debit cards

If the proposal is accepted, nearly 90 per cent of India's 60 million UPI-accepting merchants will remain unaffected, as they fall under the small enterprise category

e-RUPI voucher issuance surged in February; redemption in slow lane

Only a fraction of the cumulative issued e-RUPI vouchers were redeemed, the data show

Prosus-backed fintech firm PayU buys 43.5% stake in Mindgate Solutions

The deal will allow PayU to expand into the real-time payment processing market, including the Unified Payments Interface (UPI)

WazirX parent verifies platform assets, liabilities before creditor voting

The independent assessors (IA) verified the existence, control, and quantity of the platform assets

UPI incentive cut worries industry again; calls for MDR grow louder

Industry's concerns surfaced after the government approved ₹1,500 crore in a scheme for the promotion of low-value BHIM-UPI transactions when made from peers to merchants

DLAI to rebrand itself to Unified Fintech Forum as it pursues its SRO bid

This is in response to the Reserve Bank of India's (RBI's) internal feedback on its bid for official SRO status, according to three sources from the fintech industry