Page 12 - Fintech Firms

Tencent loses $62 bn in 2-day rout, wiping out value of fintech business

Like Ant, it will probably be required to establish a financial holdco

India's fintech industry seen at $150-160 bn by 2025: FICCI-BCG report

The Federation of Indian Chambers of Commerce & Industry (FICCI) and Boston Consulting Group (BCG) on Saturday unveiled 'India FinTech: A USD 100 Billion Opportunity' report. The report details the findings from the study that BCG and FICCI undertook to size the value-creation potential and identify imperatives for India's FinTech growth.

PayMate says has achieved annualised run-rate of $1.3 bn in GST payments

The firm's payment automation platform processed over $130 million GST payments monthly in 2020.

Digital transformation: E-lenders rely on tech, not recovery agents

The moratorium, announced in the wake of the pandemic, has put several digital lenders out of business, say people familiar with the matter

BharatPe set to become next unicorn after valuation crosses $900 mn

The fintech firm, which competes with players like Pine Labs, Paytm and Mswipe, provides payment technology and digital lending for offline businesses, including kiranas

Pine Labs launches AllTap app to turn phone into payment acceptance device

With AllTap, small merchants who aren't ready to invest in a traditional point-of-sale terminal can immediately start accepting digital payments on their NFC-enabled smartphone

Sold t-shirts at 16, cutting-edge digital spending solutions provider today

Raj Narayanam's fintech Zaggle is an SaaS firm that ensures its clients don't worry about financial control, as it uses cutting-edge tech to manage enterprise expenses and staff rewards & incentives

Tech Mahindra to acquire Payments Technology Services for Rs 66 cr

The acquisition will give Tech Mahindra access to IPs and licenses for two products - Open Payment Framework (OPF) and Multi-Bank System (MBS), a regulatory filing said

Razorpay gears up to digitise small businesses; aims at $50 bn TPV by 2021

Due to lack of trust, new merchants usually see 30% higher cart abandonments on the checkout page as compared to established merchants; Razorpay is aiming to change that

MF space set for digital disruption with likely entry of tech-heavy AMCs

Easing of profitability criteria could see entry of quant funds, robo advisory and smart ETFs

Sebi tweaks eligibility norms, paves way for fintech firms to set up AMCs

Entity can sponsor an MF even if it doesn't fulfill profitability rule; CIRP cos asked to have at least 5% public float

'Financial stability is political': Inside China's crackdown on tech giants

President Xi Jinping urged financial regulators to 'dare to' master their supervisory role

Fintech the way forward for Indian banking, payment system: SBI MD

Giving the example of SBI, he said, 91 per cent of jobs are being done digitally now, which was unthinkable 35 years ago

Fintech firm BharatPe appoints Suhail Sameer as first group president

BharatPe claimed that it serves over 4 million merchants across 35 cities, and grew its business by 30 times in 2019. The company claims to have disbursed over 35,000 loans worth Rs 175 crore

Paytm to launch stock-broking services within the next 2-3 weeks

The fintech unicorn, which received Sebi nod in Jan, has already diversified into insurance, e-commerce and banking services

Roadblocks to growth

Is the new Data Protection Bill biting the hands that feed us?

A potential blockbuster

Fintechs may have the lead with open banking but banks too can benefit by playing their cards well

Fintech firms hire 700,000 people who lost jobs in slowdown-hit sectors

The tenure of such jobs is about 6-8 months, with Amazon and Flipkart creating the primary demand for labour

Fintech firms in a spot after RBI restricts access to credit data

Business of credit information bureaus seen coming under threat

Fintech committee recommends new legal framework for consumer protection

The Steering Committee on fintech-related issues has also suggested cash flow-based financing for micro, small and medium enterprises