Page 6 - Fintech Sector

Razorpay eyes group profitability ahead of IPO plans, expands to Singapore

The Tiger Global Management-backed company is focused on becoming profitable on a consolidated basis across all business verticals, said Shashank Kumar, co-founder and managing director of Razorpay

PhonePe clocks 600 mn registered users, adds 100 mn in past 16 months

The company claims to have a base of over 40 million merchants. It processes over 330 million transactions daily and has recorded an annualized total payment value of over Rs 150 trillion

PB Fintech to infuse Rs 696 crore in arm PB Healthcare Services in FY26

PB Fintech Ltd., the parent entity of insurance brokerage firm Policybazar, on Tuesday said it proposes to infuse Rs 696 crore in its subsidiary PB Healthcare Services Private Limited in the next financial year to grow its business. The decision was taken by the Board of Directors of PB Fintech Ltd. in a meeting held on Tuesday. The board approved a proposal to make an investment for an aggregate amount of up to Rs 696 crore in PB Healthcare Services Private Limited, its wholly owned subsidiary, by way of subscribing or purchasing its shares or Compulsory Convertible Preference Shares during the financial year 2025-26, PB Fintech Ltd. said in a regulatory filing. The said investment is, however, subject to the shareholder's approval through postal ballot and will be made along with other external investors in PB Healthcare Services Private Ltd., it said. It further said that the capital infusion would be done to meet its general operating expenses and enhance brand awareness, offic

RBI Guv Sanjay Malhotra vows consultative approach with fintech firms

Malhotra's latest comments will likely provide relief to the industry hit hard by a crackdown on errant firms under his predecessor Shaktikanta Das

Cred detected Rs 11K crore in credit card hidden charges: Kunal Shah

Credit score was never designed to be a consumer product, instead it was made for banks to be able to lend without having to worry about the customer's behaviour, Kunal Shah said

MobiKwik to acquire 3.39% in B2B infra platform Blostem for Rs 1.49 crore

The aggregate shareholding of the Gurugram-based listed firm in the platform is expected to grow to 6.79 per cent after the deal

PhonePe begins IPO process, set to become third fintech to list in 5 years

PhonePe said its "strong top line and bottom line growth" across business portfolios makes it a suitable time for public listing

This is right time to invest in India: PM Modi invites French businesses

Prime Minister Narendra Modi has invited French businesses to invest in India, saying when France's technology and India's talent unite a global transformation will happen. Addressing the India-France CEO Forum here on Tuesday, Modi said this is the right time to come to India as it offers countless opportunities for investments and collaborations in areas such as defence, advanced technology, fintech, pharma among others. "I welcome you all to join India's development journey. When France's finesse and India's scale meet... When India's pace and France's precision join... When France's technology and India's talent unite... Then, not just business landscape, but global transformation will happen," he told the gathering of the business leaders. French President Emmanuel Macron also attended the event. Modi said the India-France CEO Forum plays a key role in strengthening economic ties and fostering innovation. "It is gladdening to see business leaders from both nations collaborate

PhonePe to wind down account aggregator business, surrender NBFC-AA licence

Account aggregators are non-banking financial companies (NBFCs) that deliver a user's financial data from financial information providers (FIPs) to financial information users (FIUs)

Reduced FY26 outlay for P2M promotion concerns industry, say experts

Incentives to promote such digital payments slashed for 2nd year straight

More the merrier? A tale of multiple self-regulatory organisations

Mint Road positions these entities as the cornerstone of compliance, but will the numerous voices unite the sector or create conflict?

Regulators look at long-term spirit, fintechs had time to comply: Experts

The fintech industry players attend a panel discussion at the Business Standard BFSI Insight Summit 2024

Regulation plays catch-up in certain areas, enables innovation: Razorpay MD

"It is important how you absorb acquisitions and make them successful. We care about the kind of firms we acquire, and how we integrate them with the mothership"

Stress continues to build up in fintech lending with PAR on the rise

The Reserve Bank of India's December 2024 Financial Stability Report states that household debt is on a rising trend

UPI-enabled credit cards see 20% monthly growth, users avg 40 transactions

This growth aligns with a broader trend in transactions processed through UPI on RuPay credit cards

Fintech Skydo receives in-principle approval to operate as PA-CB entity

About 11 existing cross-border payment companies can operate as PA-CB with their applications under process, according to the RBI website

Fintechs shift to direct merchant integration, move away from Juspay

Following PhonePe's decision to end its partnership with payment orchestration platform Juspay, other companies, including Razorpay and Cashfree Payments, are considering similar moves

Paytm to focus on merchant services in overseas foray as part of expansion

Fintech firm One97 Communications, which owns the Paytm brand, will primarily focus on financial services for the merchant ecosystem as part of its international expansion, a top company official said on Monday. Paytm is looking for a foray into international markets and has set up three overseas step-down subsidiaries of Paytm Cloud Technologies in the United Arab Emirates, Saudi Arabia and Singapore. "The intent here is to first go to the merchant side. Merchant side business model is a very long-term business model. Every economy and geography that I am meeting with senior executives either in the central bank or government love it because SME credit is missing everywhere. If you can solve for payment and solve for future-forward receivables that business model is a template in our opinion. Our primary plan will be that," Paytm founder and CEO Vijay Shekhar said during the company's earnings call for the December quarter of FY25. Paytm for the quarter reported a narrowing of ...

Banks, fintechs embark on profitable pilgrimage at Maha Kumbh Mela

Amid a crisis in deposits, banks hope to leverage the biz opportunities, with state govt projections estimating that event could generate Rs 25,000 cr in revenue and a Rs 2 trillion economic spinoff

Odisha, Singapore sign MoU to establish FinTech hub in Bhubaneswar

The Government of Odisha's Electronics and IT Department and Singapore's Global Finance & Technology Network (GFTN) signed an MoU to establish a Global Competency Centre in Bhubaneshwar to foster FinTech collaboration, with a focus on developing an inclusive and sustainable InsureTech and related areas.The MoU was signed during the official visit of Singapore President Tharman Shanmugaratnam to Odisha on Friday, according to a press release by GFTN. Tharman is on the State Visit to India from January 14 to 18. The initiative marks another positive step commemorating the 60th anniversary of diplomatic relations between India and Singapore in 2025.Commenting on the MoU, Chief Minister Mohan Charan Majhi said, Odisha aims to leverage GFTN's global expertise and resources to drive innovation and create tailored Fintech solutions in the state."Odisha has emerged as a leader in India's IT sector and now aims to diversify its services sector. The state is fostering innovation and ...