Business Standard

Fintech

Union Budget 2024: Here's what startups, investors expect from Modi 3.0

Expectations rise for investments, simplified tax norms, and sectoral support

Union Budget 2024: Here's what startups, investors expect from Modi 3.0
Updated On : 11 Jul 2024 | 11:42 AM IST

Group representing NBFCs seeks revisit of membership norm for SRO

Finance Industry Development Council has sought a meeting with the central bank

Group representing NBFCs seeks revisit of membership norm for SRO
Updated On : 08 Jul 2024 | 11:02 PM IST

Fundamentals strong for global fintech

Funding for the sector hit a three-year low last year but revenues improved

Fundamentals strong for global fintech
Updated On : 04 Jul 2024 | 2:41 PM IST

Crypto exchange platform CoinDCX acquires MENA region's BitOasis

This comes nearly ten months after CoinDCX invested in the company, marking one of its earliest investments in the MENA region

Crypto exchange platform CoinDCX acquires MENA region's BitOasis
Updated On : 03 Jul 2024 | 5:37 PM IST

RBI, four Asean countries tie up for cross-border payments platform

Project Nexus is aimed at making retail cross-border payments efficient, faster and cost-effective, the RBI release said

RBI, four Asean countries tie up for cross-border payments platform
Updated On : 01 Jul 2024 | 10:20 PM IST

Fintech company Olyv expects FY25 revenue to rise 40% on expanded user base

Fintech firm Olyv expects its FY25 revenue to grow by 40 per cent to Rs 350 crore mainly on account of increase in user base, large ticket loans and expansion of portfolio, a top company official said on Monday. The company claims to have more than doubled its revenue to around Rs 250 crore in FY24 on a year-on-year basis. "Olyv has shown remarkable growth, with current revenue reaching Rs 250 crore, up from Rs 116 crore last year, reflecting a 76 per cent increase in business volumes. The company projects that its revenue for FY25 will be approximately Rs 350 crore. This growth is expected to be driven by several key factors, such as an exponential user growth, an increase in larger ticket size loans, and the launch of new products," Olyv Co-Founder and CEO, Rohit Garg told PTI. Olyv claims that the monthly active user base on the platform grew by 80 per cent year-on-year to 26 lakh. The company partners with RBI-registered non-banking financial companies to facilitate personal lo

Fintech company Olyv expects FY25 revenue to rise 40% on expanded user base
Updated On : 01 Jul 2024 | 11:33 AM IST

Finance world's question to self: Are there too many regulators within?

From fintech to urban cooperatives, a host of industry associations have expressed interest in becoming self-regulatory organisations

Finance world's question to self: Are there too many regulators within?
Updated On : 01 Jul 2024 | 12:51 AM IST

Now, users can't make credit card repayments on third party apps

Many players said they will pause credit card payment for banks that have not gone live

Now, users can't make credit card repayments on third party apps
Updated On : 30 Jun 2024 | 9:37 PM IST

RBI Governor Das cautions against tech-led disruptions in financial system

Matrix of financial stability at its best, challenge is to improve, says Das

RBI Governor Das cautions against tech-led disruptions in financial system
Updated On : 27 Jun 2024 | 10:43 PM IST

CoinDCX launches Web3 mode on its app enabling access to 50k DeFi tokens

The company will offer points to CoinDCX users based on their transaction history as part of the current launch

CoinDCX launches Web3 mode on its app enabling access to 50k DeFi tokens
Updated On : 25 Jun 2024 | 9:40 AM IST

FinTech sector leads with 30 startups in Future Unicorns worth $11.4 bn

The 30 startups featured in the ASK Private Wealth Hurun India Future Unicorn Index have collectively raised an investment of $5.7 billion

FinTech sector leads with 30 startups in Future Unicorns worth $11.4 bn
Updated On : 21 Jun 2024 | 7:04 AM IST

Back to basics: Fintech player Paytm's focus is payments and distribution

The firm seems to be returning to the drawing board, revisiting its business strategy, including its partnership with lenders

Back to basics: Fintech player Paytm's focus is payments and distribution
Updated On : 07 Jun 2024 | 12:18 AM IST

PhonePe ties up with Sri Lankan ride-hailing player to enable UPI payment

Fintech firm PhonePe has partnered with ride-hailing platform PickMe to enable UPI-based payments for Indian travellers in Sri Lanka, the Walmart group firm said on Thursday. Last month, PhonePe entered into a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. "Our partnership with PickMe exemplifies the company's commitment to providing Indian travellers with convenient and trusted payment solutions. Previously, navigating payments in a new country could be a hassle. "Now, with PhonePe, Indian tourists visiting the beautiful island nation of Sri Lanka can enjoy the ease and security of UPI payments for their rides," Ritesh Pai, CEO of PhonePe - International Payments, said. The collaboration follows the launch of PhonePe in the island nation last month, wherein the Indian High Commissioner Santosh Jha had urged companies in Sri Lanka to engage with Indian companies to build on the UPI stack for innovations in hotel bookings, cab bookings, delivery ...

PhonePe ties up with Sri Lankan ride-hailing player to enable UPI payment
Updated On : 06 Jun 2024 | 7:35 PM IST

Aim to connect lenders, customers for financial needs: PhonePe Lending CEO

In unsecured loans, there is no asset or underlying security that is taken from the customer, said Gala

Aim to connect lenders, customers for financial needs: PhonePe Lending CEO
Updated On : 31 May 2024 | 7:48 PM IST

RBI finalises framework for self-regulatory organisations in fintech sector

An SRO is a non-governmental organisation that acts as a bridge between industry players and the regulator. It also sets standards for the conduct of entities operating in the country

RBI finalises framework for self-regulatory organisations in fintech sector
Updated On : 31 May 2024 | 12:51 AM IST

B2B fintech Vegapay raises $5.5 mn; co. to fund team expansion, operations

The company will utilise the capital raised towards expanding product and technology teams and investing in operations and compliance requirements

B2B fintech Vegapay raises $5.5 mn; co. to fund team expansion, operations
Updated On : 30 May 2024 | 2:55 PM IST

RBI unveils Pravaah portal, Retail Direct Mobile App and FinTech Repository

Initiatives aim to help regulatory processes, retail investment in government securities, provide data on fintech

RBI unveils Pravaah portal, Retail Direct Mobile App and FinTech Repository
Updated On : 29 May 2024 | 11:49 AM IST

RBI Governor Das launches portal for online application, approval

Starts app for retail direct; repositories for fintech, lenders

RBI Governor Das launches portal for online application, approval
Updated On : 28 May 2024 | 8:38 PM IST

Paytm Insider announces elevation of Varun Khare to position of COO

Prior to this, Khare was the business head of live entertainment (intellectual properties and partnerships) at the company

Paytm Insider announces elevation of Varun Khare to position of COO
Updated On : 28 May 2024 | 3:03 PM IST

Paytm changes designation of senior exec, CBO Ripunjai Gaur named SMP

Fintech giant has seen exits in its senior management after its banking unit was put under restrictions in January

Paytm changes designation of senior exec, CBO Ripunjai Gaur named SMP
Updated On : 22 May 2024 | 10:49 PM IST