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Q4 results: MobiKwik suffers Rs 56.03 cr loss, ops revenue up marginally

For the full FY25, the Gurugram-based company recorded a loss of Rs 121.5 crore

Groww to acquire PayU-backed Fisdom in $150 mn wealth management push

Groww to acquire Fisdom for $150 million as part of its wealth management expansion; the IPO-bound firm also plans to raise funds from Singapore-based GIC

Fintechs push AI, new protocol to simplify backend tools for merchants

Cashfree and Razorpay use AI agents and a new protocol to simplify backend systems and automate payments, easing merchant operations across fintech platforms

Gameskraft to pause Pocket52 poker operations from May 30 for review

Gameskraft will suspend its online poker platform Pocket52 from May 30, citing a need to reassess long-term strategy, amid industry pressure from the 28% GST regime

PayU gets final RBI approval to operate as online payment aggregator

Prosus-backed PayU receives final RBI approval to act as an online payment aggregator over a year after in-principle clearance and corporate restructuring

BillDesk's M N Srinivasu appointed IAMAI chairperson for two-year term

M N Srinivasu succeeds Dream Sports CEO Harsh Jain as IAMAI chairperson, while fintech leaders from Razorpay and PhonePe take vice-chairman and treasurer roles

PhonePe suffers UPI outage after conducting disaster recovery drills

PhonePe's UPI services went down for over an hour on Monday evening as peak traffic exposed a network capacity shortfall during cybersecurity preparedness drills

PhonePe records slight drop in UPI market share as April volumes fall

PhonePe's UPI market share slipped to 46.73 per cent in April amid a 2.22 per cent dip in total transactions on the real-time payments network

Fintech giant Paytm set to go slow on hiring replacements for exiting staff

Paytm's non-sales employee cost dropped 35.6 per cent in Q4FY25 as the company opted not to backfill roles, leaning on AI to enhance productivity and trim expenses

CoinSwitch's fifth PoR shows ₹625 crore surplus over customer holdings

CoinSwitch's fifth proof of reserves report shows total holdings of Rs 2,764.2 crore as of March 2025, exceeding customer assets by Rs 625.56 crore in crypto and INR

'Exceptional item' keeps Paytm in loss with ₹540 crore hit in Q4FY25

The Noida-based company's losses for the entire FY25 was significantly lower at Rs 658.7 crore, down from Rs 1,417 crore in the previous financial year (FY24)

Cashfree Payments rolls out AI-first module across core products

The new MCP server integrates large language models with Cashfree's APIs to automate merchant operations such as payment links and KYC verification

Fintech-focused VC firm QED Investors eyes India in $300 mn Asia push

After investing around $200 million in India since 2020, the VC firm is pushing deeper into Asia-now operating in Indonesia, Japan, and Singapore, and setting its sights on South Korea and Australia

Time spent on gaming grows 30%, 18-30 ages dominate India's market

Lumikai report shows gaming time in India rose to 13 hours a week in 2024, driven by young users aged 18-30, with UPI accelerating in-game payments and monetisation

Videos perform better than static photo posts, says Instagram's Mosseri

At WAVES Summit, Instagram head Adam Mosseri says videos outperform static content on average while emphasising India's role in driving platform trends and engagement

Winzo FY24 results: Profit more than doubles to ₹315 cr; revenue up 70%

The gaming platform's revenue from operations grew 70.35 per cent from Rs 619.42 crore in FY23 to Rs 1,055.22 crore in FY24

NPCI issues two circulars on API usage amid rising UPI disruptions

NPCI has asked banks to enforce changes in the response time of UPI APIs by June 16

Paytm's gaming firm gets Rs 5,712 cr GST notice, will seek relief

First Games Technology says tax claim is an 'industry-wide issue' and will be challenged

NPCI directs UPI members to follow new API guidelines to avoid disruptions

For instance, this includes restricting a high number of repeat APIs for the same or older transactions

Call for stronger anti-scam education on crypto platforms, shows survey

Over 64 per cent of the respondents polled by global crypto exchange Binance said they used exchanges multiple times a week or in a day