Page 18 - Fintech Sector

Naspers-owned Prosus terminates $4.7 billion deal to acquire BillDesk

Prosus has been a long-term investor and operator in India, putting in close to $6 billion in Indian technology companies since 2005

PhonePe completes process to move domicile from Singapore to India

All businesses, and entities now owned by and consolidated under PhonePe Pvt Ltd-India

Paytm Mall becomes first to go live on ONDC in Bengaluru beta test

People can place orders in grocery and restaurant segments for now

BharatPe's PoS vertical turns profitable within 2 years of launch

BharatPe is the No. 2 private POS player in the country with an installed base of close to 2 lakh machines across more than 250 cities in the country, the firm said in a statement

63 moons to provide next-gen tech to Italian firm; eyes pan-European mkts

63 moons technologies, formerly known as Financial Technologies, on Tuesday said it will provide next-generation technology solutions to Italy-based Spuma SRL as it targets pan-European markets. In addition, 63 moons said it will evaluate global giants in cloud computing services like Amazon's AWS, Microsoft's Azure and Google cloud for deploying the technology, the provider of technology solutions to financial markets said in a regulatory filing to the BSE. 63 moons provides next-generation technology ventures and solutions for creating digital markets and marketplaces that enable price discovery and transaction efficiencies across industry segments. The announcement comes a day after 63 moons said that it will not provide technology support to Multi Commodity Exchange (MCX) after September 30. As per the filing, Spuma SRL will leverage 63 moons' expertise on real-time mission critical solutions, using the latest technology suite. The company will be offering a SaaS ...

Red signals for fintech industry: The valuations game of the past is over

RBI Governor Shaktikanta Das' traffic light imagery for the fintech industry has several implications

Why are government and regulators uneasy about fintech's rise?

Rise of the fintech sector is posing a two-fold challenge before regulators and the govt: To turn India into a fintech superpower while ensuring consumer safety by firms. Our next report tells more

India's fintech market to reach $1 trillion by 2030: Chief Economic Advisor

India's fintech market is expected to reach $1 trillion by 2030, from $31 billion in 2021, Chief Economic Advisor Dr V. Anantha Nageswaran said here on Tuesday.

Fintech industry needs to work relentlessly on safety, say PM Modi

Prime Minister Narendra Modi on Tuesday said the fintech sector needs to work relentlessly on safety and reliability to uphold trust of the people. In his message at the Global Fintech Fest, Modi said the sector has been an example of the wonders that can be worked when a government that encourages innovation comes together with the energy of young and inventive minds. "Innovation for inclusion has been our mantra, leading to the revolution in public delivery ensured by the JAM Trinity, success of UPI in making digital payments a way of life, and India's global rise in the fintech and startup space as a hub of innovation and investment," Modi said in the message which was read out by Kris Gopalakrishnan, Chairman, GFF 2022 Advisory Board. JAM Trinity refers to Jan Dhan-Aadhaar-Mobile. Modi said from a largely unbanked population to a country that is not only surging towards saturation in banking access but also digitally equipped, it has been a phenomenal journey. "People involved

Next multibagger to come from digital businesses: Elixir Equities' Director

Indian digital businesses are witnessing rapid growth, aided by stronger adoption of online services in diverse segments, especially in the fintech landscape

Digital lending norms: Fintech firms seek clarity on RBI's FLDG stance

An FLDG is a lending model wherein a third-party guarantees to compensate up to a certain percentage of default in a loan portfolio of the regulated entity

India leads the world in real-time digital payments, says PM Modi

Success shows 'innovation prowess' of indigenous payment structure and fintech companies, he says

Indian fintech to have $1 tn in AUM, $200 bn revenue by 2030: Report

Fintech-facilitated lending will grow by $476 billion to reach $514.6 billion in book size by 2030

Fintech platform BharatPe appoints Nalin Negi as new CFO amid IPO plans

Fintech platform BharatPe on Wednesday said it has appointed former SBI Card CFO Nalin Negi as its new chief financial officer, as it prepares for its initial public offering (IPO).

Indian tech startups raise $6 billion in April-June quarter, Fintech rules

Number of deals dropped by 17% sequentially, more than half were larger than $100 million each

RBI examining PPI credit, BNPL models; in talks with fintechs on concerns

The central bank is looking at a framework that can exist without hampering pace of innovation, even as it addresses consumer protection and cyber security concerns

Fintechs seek 1 yr sunset clause on RBI's PPI issuer credit lines directive

Earlier this week, the RBI directed the non-bank prepaid payment instrument (PPI) issuers to stop providing credit lines on such PPI cards and asked them to stop the practice immediately

Pine Labs acquiring fintech infrastructure start-up Setu for $70-75 mn

Pine Labs, backed by investors such as Sequoia Capital, PayPal, and Mastercard, competes with fintech companies such as BharatPe, Mswipe, Paytm, and Razorpay

Decoded: The tizzy over RBI's ban on loading PPIs from credit lines

PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them

Top headlines: Sinha is Opposition president nominee, Agnipath creates jobs

Business Standard brings you the top headlines this hour: India's presidential election to Agnipath scheme.