Fintech Sector

RuPay tailwind drives fintech push for co-branded credit cards on UPI

Fintech companies ramp up RuPay-linked credit cards to tap UPI-driven usage, boost transaction volumes, and expand reach among new-to-credit customers

OnEMI Technology IPO: Brokerages split on prospects; should you apply?

Kissht-parent OnEMI Technology has set the price band in the range of ₹162 to ₹171, with a lot size of 87 shares

PhonePe crosses 50 million registered merchants across India ahead of IPO

Fintech major PhonePe on Tuesday said it has crossed 50 million lifetime registered merchants on its platform. The IPO-bound company noted its expansion from offering QR code-based payment solutions to providing a full-stack suite of financial tools, including working capital loans, Point-of-Sale (POS) terminals, and SmartSpeakers. "Reaching 50 million merchants is a significant milestone in our effort to make financial services more accessible to merchants across India. For many of our partners, the journey began with a simple QR code, but that relationship has since matured. Today, digital payments serve as a gateway to a wider range of formal services, including credit," Yuvraj Singh Shekhawat, Chief Business Officer, Merchant Business, PhonePe, said. Launched in 2016, PhonePe has over 65 crore registered users. The latest development comes as the company prepares for its initial public offering (IPO), having recently filed an updated draft red herring prospectus (UDRHP-I) with .

Peak XV Partners fully exits Mobikwik in block deal worth ₹130 crore

Venture capital firm Peak XV Partners has fully exited from fintech firm One MobiKwik Systems through a block deal of over Rs 130 crore, sources aware of the development said. According to sources, Peak XV was one of the early investors in the firm and exited at three times of its investment value. "Peak XV Partners has sold around 61 lakh shares, about 7.7 per cent of the company share capital, at an average sale price of Rs 214 share apiece. The total deal size is close to Rs 130 crore. With this sale, Peak XV has completely exited from the firm," a source said. A query sent to Peak XV and One Mobikwik elicited no immediate reply. Florintree, Viridian Asset Management, Dymon Asia and Karma Capital have bought stakes from Peak XV. The development comes a day after the company announced RBI granting a NBFC license for its new subsidiary- MobiKwik Financial Services Pvt Ltd.

MobiKwik's NBFC arm likely to launch operations in 2026: Upasana Taku

MobiKwik gets RBI nod for NBFC arm, plans lending launch in 2026; move to boost fintech stack, expand credit offerings, and tap co-lending opportunities

OnEMI sets ₹162-171 IPO price band; issue to open for subscription April 30

Digital lending platform OnEMI sets ₹162-171 price band for ₹926-crore IPO, comprising fresh issue and OFS, with subscription opening April 30 and closing May 5

MobiKwik gets RBI's nod for non-banking financial company licence

The licence will allow MobiKwik to launch a lending arm, Mobikwik Financial Services, expanding its regulated credit offering

Paytm's wallet sees a shake-up as RBI cancels payments bank licence

Company claims no material impact despite cancellation of payments bank's licence

Pine Labs acquires Shopflo in ₹88 crore deal to expand D2C ecosystem

Acquisition of checkout platform Shopflo aims to strengthen Pine Labs' full-stack commerce offering and deepen engagement with D2C merchants across online and offline channels

Kiwi cofounder Mohit Bedi quits CBO role, moves into advisory position

Bedi previously worked in fintech PayU and in Axis Bank. At Axis Bank, he was the senior vice-president (SVP) and business head - acquiring and commercial cards

Early warning signal: Anthropic's Mythos puts Indian fintechs on guard

Fintech body FACE urges stronger cyber defences as Anthropic's Claude Mythos raises concerns over AI-driven software vulnerabilities

BharatPe founder Nakrani steps back from operations, to advisory role

BharatPe founder Shashvat Nakrani will step back from day-to-day operations from May 1, transitioning to a strategic advisor role while retaining board position

Cashfree Payments appoints Sameer Gandhi as CFO to strengthen operations

Sameer Gandhi will oversee financial strategy, operations and revenue planning at Cashfree Payments as the fintech firm sharpens focus on growth and profitability

10 years of UPI: Many records, but limited incentives restrict growth

A decade after launch, UPI dominates digital payments but slowing growth and lack of MDR incentives raise questions over its next phase

Visa's Sandeep Ghosh to step down as India, South Asia country manager

Ghosh took over the role of country manager from T R (Ram) Ramachandran in March 2022

Cred revamps Kuvera app to deepen wealth-tech play, targets investors

Fintech firm upgrades Kuvera with new tools to improve investment discipline and performance, targeting affluent users with long-term portfolio management features

Razorpay partners OpenAI to enable instant payments in AI-built apps

Integration with Codex allows developers to embed payments instantly, enabling AI-built apps to monetise faster as Razorpay expands into agentic commerce and conversational payments

Payments industry must target beyond growth as RBI shifts focus to risk

As RBI pivots to risk and resilience, India's payments sector is evolving from a high-growth story to one driven by governance, trust and global integration

UPI transactions scale all-time high of Rs 29.52 trillion in March

UPI transactions reached an all-time high of ₹29.52 trillion in March, with strong growth in both volume and value, according to NPCI data

Revolut plans to base 40% of its global workforce in India by 2026

The new positions will span product development, support functions and financial services functions such as payment processing and fraud investigations