Page 7 - Ajinkya Kawale

Crypto platform WazirX allows partial rupee withdrawals from August 26

Users will be able to withdraw the remaining balances between September 9 and 22

PM Narendra Modi to address Global Fintech Fest on August 30 in Mumbai

The GFF is an annual fintech conference, and this year it is scheduled between August 28 and 30

Rising costs from T+1 timeline may push weaker P2P players to the brink

While there are 26 licensees, only 10-11 players are active in this space, with the industry's assets under management totalling Rs 11,000 crore

Fintech firm Axio raises $20 million from Amazon Smbhav Venture Fund

Consumer finance company will use investment to scale up loan book and 'expand credit offerings'

Cred receives nod from BBPS to operate as a customer operating unit

As an agent institution of BBPS, the company processed over Rs 15,000 crore in bill payments across banks in July

Flipkart-backed super.money aims to be among top five on UPI leaderboard

The company, which rolled out its beta version in June, has processed about 10 million transactions to date

RBI includes auto replenishment of FASTag, NCMC in e-mandate framework

Exempts these card issuers from issuing a pre-debit notification

ONDC integrates nine LSPs, three lenders to extend credit to customers

The buyer applications include Easypay, Paisabazaar, Tata Digital, Invoicepe, Cliniq360, Zyapaar, Indipe, Tyreplex, and Paynearby

Fintech major PhonePe introduces 'credit line on UPI' on its platform

The option also allows merchants on PhonePe's Payment Gateway to offer customers an additional payment option at the time of checkout

Paytm to sell its entertainment, ticketing biz for Rs 2,048 crore to Zomato

This comes as the company refocuses on its core payments and financial services business

SaaS firm Perfios appoints former Infosys executive Rajesh Kini as CFO

Kini is a Chartered Accountant and holds a bachelor's degree in commerce

Paytm to refocus on delivering sustainable, profitable biz model: Sharma

This comes after One97 Communications, the company operating Paytm brand, handed pink slips to employees in the March quarter of FY24

Banking solutions fintech TransBnk raises $4 million in series A round

The platform has supported over 5,000 accounts, including escrows, and processed more than 50 million transactions

Small UPI players show promise even as larger ones continue to dominate

Smaller fintechs gain traction as top UPI apps near 30% market cap limit

BharatPe launches secured loans for merchants, expands credit offerings

Merchants on the fintech platform can avail of two-wheeler loans up to Rs 2.5 lakh from OTO Capital, with a repayment period ranging between 12 and 48 months

Account aggregator ecosystem clocks 100 million consents on framework

With 1059% growth, India's AA ecosystem is the fastest growing open finance ecosystem in the world

MobiKwik turns profitable in FY24 with Rs 14.08 cr profit, revenue up 58.7%

The firm had posted its first-ever consolidated profit of Rs 3 crore during the first quarter of financial year 2024 (Q1 FY24)

Well-regulated, mkt-based mechanism necessary for UPI MDR: Sharath Bulusu

"In the long run, the payments ecosystem has to be viable in a country of our scale," said Bulusu

Pine Labs secures NCLT approval to merge domestic, Singapore entities

The development comes as the Singapore-based digital payments company is shifting its domicile back to India. The cost of the reverse flipping could not be ascertained

After forensic analysis, WazirX blames wallet provider for crypto heist

But Liminal Custody stresses its systems weren't compromised