Page 20 - Fintech Sector

PayU's PSP revenue up at $211 mn in H1FY24 on growth in existing merchants

The company added that India was one of its largest markets in the PSP business, contributing a share of around 48 per cent of its revenues

Ireda gains 88% on debut; Tata Tech, 2 others to list IPOs on Thursday

As per grey market operators, Tata Tech shares could gain over 80 per cent, while that of Gandhar are pegged to gain 40 per cent on debut

BharatPe turns Ebitda positive in Oct, annualised revenue up Rs 1,500 cr

The company is aiming to achieve profitability for a complete fiscal in the upcoming year

PhiCommerce raises $10 mn in funding led by Singapore-based BEENEXT

Payments solution firm will use financing to expand international business, improve technology

BharatPe turns EBITDA positive, clocks Oct 2023 as first profitable month

Without giving out the actual number, BharatPe in a statement said the financial milestone was attributed to consistent growth across all business lines

DLAI appoints Hemachandra, Prasad as independent directors to board

Fintech companies believe an SRO can consolidate multiple stakeholders on the back of a framework of common standards

Fintechs may shift to secure products after RBI order on consumer loans

Central bank's directives not a complete surprise and will prompt sector to diversify business, they say

Financial sector must avoid 'all forms of exuberance': RBI governor

Banks, NBFCs would be 'well advised to take precautionary measures in four areas, says Shaktikanta Das

Dining out to getting fit, Indians pumped life into experience economy

The insights are based on the purchasing trends and patterns from the two months leading up to Diwali

Paytm partners with travel tech firm Amadeus for search, flight deals

Fintech firm's users will get access to information on low-cost carriers, hotels

Fintech lending set to surpass traditional by 2030 for mid-small income

India's fintech industry has been growing over the past few years on the back of the emergence of several fintech start-ups

Fintech may emerge as substitute for traditional banking: RBI's CAFRAL

CAFRAL is a non-profit organisation set up by the RBI in 2011 to promote research and learning in banking and finance

Fintech can emerge as substitute for traditional banking, says RBI's CAFRAL

India's fintech sector can potentially emerge as a substitute for traditional banking in the near future, said a report by CAFRAL, while stressing the need for a "quick and nimble" regulation to ensure growth of digitalisation and financial stability. Reserve Bank Governor Shaktikanta Das on Tuesday released the first flagship publication of the Centre for Advanced Financial Research and Learning (CAFRAL) with the title India Finance Report 2023 (IFR 2023). CAFRAL, a not-for-profit organisation, was set up in 2011 as an independent body by the RBI to promote research and learning in banking and finance. The report provides fresh insights into the non-banking financial sector in India that can aid all stakeholders, including regulators and policymakers, in securing a greater understanding of the sector and a wider appreciation of its niche strengths and opportunities. In his note to the report, RBI Deputy Governor Michael Debabrata Patra said the publication is sensitive to the ...

India has significant amount of dry capital for startup ecosystem: VCs

Fintechs have been among the five best-performing sectors in terms of funding since 2018, with an exception in 2020 when it came sixth

Security challenges persist despite cloud services adoption: EY's Bellary

Ranjeet Bellary, partner at EY said that the Cloud has disrupted the way clients access their data and scale their operations

No plan to enter banking sector: Mobikwik co-founder, CEO Bipin Preet Singh

Singh indicates that an initial public offering (IPO) is on the cards

Growth in personal loans offering likely to remain muted for Paytm

Sources in the know said that the personal loans book may grow in the range of 30 to 40 per cent Y-o-Y on its current base

PPBL 'at farm' length from One97 Communications, says Paytm CEO Sharma

Paytm Payments Bank Ltd and One97 Communications Ltd (OCL) are two different companies which operate not just at arm's length but "at farms" length, a top official of Paytm said on Saturday. In response to a question on the impact of the RBI banning Paytm Payment Bank Ltd (PPBL) from onboarding new customers, Paytm founder and CEO Vijay Shekhar Sharma during the company's second-quarter earnings call said that the company does not need incremental customers for the growth of credit business. "Paytm Payments Bank Limited and Paytm, which is OCL, are two very different companies not just at arm's length, I call it farm length now. The approach here is of a completely clear understanding that whatever Paytm Bank does is for its good and for their business plan," Sharma said. PPBL is a group company of Paytm in which it holds a 49 per cent stake. However, Paytm books show PPBL as an associate of the company and not as a subsidiary. Sharma said Paytm acquires consumers for various consu

Possible to have different SROs for fintech sectors: Industry players

A primary responsibility of these SROs would be to safeguard fintech consumers by overseeing privacy, disclosure, and recovery practices

Prosus-owned PayU targets Feb for filing IPO worth $500 mn, hires bankers

PayU, owned by South African conglomerate Prosus, is a payment gateway that also offers other services including buy-now-pay-later, and competes with the likes of Tiger Global-backed Razorpay