Page 32 - Fintech Sector

PayPal to hire over 1,000 engineers for India development centres in 2021

The hiring will be for the firm's development centres across Bengaluru, Chennai, and Hyderabad

Chinese fintech firms expected to meet capital requirements within 2 years

Chinese financial regulators have rolled out a slew of measures since last year to tighten the oversight of online lending practices

Wall Street won't intimidate retail giant Walmart this time around

Walmart announced in January that it formed a partnership with Ribbit Capital to create a new financial technology startup

India sees second-best year for fintech funding despite Covid-19: KPMG

India attracted 2.7 billion dollars in investment last year, the second highest amount ever, KPMG asid

India emerges as Asia's biggest destination for fintech deals

India left China behind in the quarter ended June 2020, a research report said on Wednesday

ICICI to buy over 9% stake in fintech startup Thillais Analytical Solutions

The firm said it has entered into an agreement with fintech startup Thillais Analytical Solutions Pvt Ltd to buy 9.65 per cent stake in the company

Mastercard, Razorpay partner to drive digital payments for small businesses

The tie-up aims to drive digital payments acceptance by small businesses and start-ups in the country

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

MoneyTap launches 'buy now pay later' facility for digital borrowers

Digital lending platform MoneyTap on Wednesday said it has unveiled a 'buy now pay later' facility for its borrowers

Rs 1,500 cr-scheme to boost e-payments; drive innovation by fintech cos

The government on Monday proposed a Rs 1,500 crore-scheme to promote digital transactions in the country

World Bank's IFC to invest $45 million equity in upGrad Education

upGrad has almost doubled its users in six months and aims to touch 10 lakh by the end of 2021

BSE sets up innovation sandbox web portal for fintechs, individuals

BSE on Friday said it has set up an "innovation sandbox" web portal where fintech firms and individuals may use the environment for offline testing of their applications in a test environment.

Financial operations of FB, Google, Amazon regulated: RBI, Sebi tell HC

The RBI has informed the Delhi High Court that operations of techfin firms such as Facebook, Google and Amazon in India's financial sector space are being regulated under the relevant laws

Fraud in fintech being fought with regulatory tech

It has been estimated that more than 1,200 lending apps are active in India. While some have been shut down or removed from Google or Apple platforms, others can pop up with frightening speed

Fintech firm BharatPe raises Rs 50 crore debt from Trifecta Capital

Trifecta Capital is a venture debt firm

RBI working committee in favour of setting up NPCI-type agency for fintechs

RBI panel favours new structure for better supervision

The new playbook: RBI steps in to stem the nexus between banks and fintechs

With the RBI red-flagging mushrooming of digital apps, the tango between banks and fintechs may be in for a big change, report Hamsini Karthik and Raghu Mohan

PayPal becomes first foreign firm in China with full ownership of payments

PayPal has become the first foreign operator with 100% control of a payment platform in China, according to Chinese government data

Cred raises $81 million funding, undertakes $1.2 million buyback plan

This gives the fintech firm a post-money valuation of $806 million (about Rs 5,883 crore)

Fintechs show interest in becoming SFBs, but transitions involve risks

The fintech model is conceptualised as asset-light, which, in fact, played a huge role in Fino Payments Bank's early breakeven