Page 12 - Fintech Sector

Razorpay eyes $750 billion P2M payments by 2030, says CFO Arpit Chug

The startup, which is valued at over $7 billion, is intensifying its efforts to achieve profitability in all of its businesses and move its domicile to India, as it is planning an IPO in 2-3 years

Small and worrying: Loans under Rs 50K are on Reserve Bank of India's radar

Regulator wants banks and fintechs to review exposure limits for consumer credit

Paytm's offer to invest in payments arm under govt consideration: DFS Secy

The proposal is still under consideration by the inter-ministerial panel and expected to take a call soon, Financial Services Secretary Vivek Joshi told PTI

Slump in tech stocks knock Asia shares, yen towers at over 2-month high

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.7%, while Japan's Nikkei tumbled 2.9% and South Korea's KOSPI dropped 2%. Taiwan's markets were closed for a second day

Bajaj Finserv Q1 results: Net profit increases 10% to Rs 2,138 crore

Cumulative losses from emerging businesses; Bajaj Finserv Health, Bajaj Finserv Direct and Bajaj AMC were Rs 119 crore as against Rs 82 crore in Q1 FY24

Credit on ONDC and OCEN awaits their 'UPI moment' as deployment begins

A lot of interest in joining an open network also boils down to how operational costs can be brought down in lending businesses. NBFCs and fintech could drive credit innovation on open networks

Cashfree Payments gets payment aggregator-cross border licence from RBI

The Bengaluru-based company is one of the first non-banks to receive the PA-CB licence, according to the RBI's website

Economic Survey calls for identifying regulatory gaps in fintech sector

Sector move towards data-based lending instead of 'judgement-based lending', it says

PhonePe CEO apologises for lashing out at Karnataka reservation bill

If my comments hurt anyone's sentiment, I am truly sorry and would like to offer you an unconditional apology: PhonePe's Sameer Nigam

Fintech Budget wishlist: Simplified tax structures, regulatory clarity

Fintech players have called for a lower TDS for startups to ease working capital challenges

B2B to C: How InMobi is transforming itself into a consumer tech company

The firm has 400 million phones/customers across the world who have Glance

Fintechs' lending biz is growing but industry must mind the warning signals

FY24 sees record loan surge and customer growth

Fintech firm Partior raises $60 mn Series B round led by Peak XV Partners

Partior, which has global unified ledger-based interbank rails for real-time clearing and settlement, will use the funds to support its international network growth

Crisis-hit Paytm gets govt panel's nod to invest in payments arm: Report

The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations

MobiKwik wallet numbers rise as banking players go through downturn

Among the non-bank players, MobiKwik had about 134.1 million wallets in January, which rose 2 per cent to 136.8 million in May, ranking the company second in terms of wallet numbers

Fintech funding down 59% to $795 million in H1 2024: Tracxn report

But India's fintech funding market continued to remain amongst the top three globally

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

PayU's LazyPay partners with Blinkit to offer customers with credit line

The latest partnership will provide the Zomato-led quick commerce platform's customers with a credit line, at no additional cost to merchants

Flipkart group launches super.money to re-enter India's fintech space

Apart from payments on Unified Payments Interface (UPI), the platform will offer services such as credit, deposit, credit card, among others

Paytm eyes expansion in travel, ties up with Skyscanner & Google Flights

The firm recorded a 19 per cent year-on-year increase in flight bookings on the platform in Q4FY24