The Bengaluru-based digital payments and financial services company has maintained its streak of growth on UPI with its share increasing from 47.35 per cent in February this year
Fintech firm PhonePe has partnered with ride-hailing platform PickMe to enable UPI-based payments for Indian travellers in Sri Lanka, the Walmart group firm said on Thursday. Last month, PhonePe entered into a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. "Our partnership with PickMe exemplifies the company's commitment to providing Indian travellers with convenient and trusted payment solutions. Previously, navigating payments in a new country could be a hassle. "Now, with PhonePe, Indian tourists visiting the beautiful island nation of Sri Lanka can enjoy the ease and security of UPI payments for their rides," Ritesh Pai, CEO of PhonePe - International Payments, said. The collaboration follows the launch of PhonePe in the island nation last month, wherein the Indian High Commissioner Santosh Jha had urged companies in Sri Lanka to engage with Indian companies to build on the UPI stack for innovations in hotel bookings, cab bookings, delivery ...
Fintech firm Fibe on Wednesday said it has raised USD 90 million in a funding round led by TR Capital, Trifecta Capital and Amara Partners. Fibe's existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the funding round, including primary and secondary transactions. Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe facilitates consumer finances like healthcare loans, edtech loans, insurance financing, and school fee financing, among others. "The infusion of new capital not only fuels our growth but also highlights our dedication to empowering India's youth on their journey towards fulfilling their dreams. With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India," Fibe co-founder and CEO Akshay Mehrotra said. Fibe claims to have disbursed more than 6 million loans worth over Rs 20,000 crore since inception. "The fres
India's NIPL inks pact with Peru's central bank to develop the technology
In unsecured loans, there is no asset or underlying security that is taken from the customer, said Gala
An SRO is a non-governmental organisation that acts as a bridge between industry players and the regulator. It also sets standards for the conduct of entities operating in the country
Firms that are looking to shift their domicile back to the country may have to look at a hefty tax bill
The uptick in credit disbursements follows closely on the heels of the firm reaching its previous milestone of Rs 500 crore in August last year
Pine Labs' decision to shift domicile follows a broader trend among fintech firms like PhonePe and Groww, which have also moved their bases back to India
Apart from the National Payments Corporation of India's (NPCI) UPI, these transactions will be facilitated by the LankaPay National Payment Network
The company posted profits for the first time in the third quarter of FY24 at Rs 36 crore
Paytm's parent company One97 Communications president and chief operating officer Bhavesh Gupta has resigned from the company, an official statement said on Saturday. As part of a change in leadership structure, fintech firm Paytm has appointed Rakesh Singh as chief executive officer of Paytm Money. The company has moved Varun Sridhar, who was heading Paytm Money, as CEO of Paytm Services -- which deals in the distribution of mutual funds and other wealth management products. "Bhavesh Gupta, President and Chief Operating Officer, who was overseeing the payments and lending businesses, has decided to take a career break due to personal reasons. He will be transitioning to an advisory role, offering guidance for Paytm's growth initiatives until the end of the year," the statement said.
BRISKPE will use the funding to improve its product and service offerings, expand its team, and scale its services
The devices will be interoperable and UPI users can pay through the checkout terminals using any application
It has proposed that payment aggregators will be required to undertake Contact Point Verification (CPV) of entities which involves physical verification of customers
The company said it can start onboarding new merchants on its platform with the in-principle approval
The device enables transactions via different methods such as point-of-sale (PoS), quick response (QR) code, tap-and-pay and traditional card payment options such as debit and credit cards
The banking regulator routinely directs banks in the country to monitor and track suspicious transactions during elections
Jio Financial Services shares on Friday ended 2.17% lower at Rs 370 on BSE
Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer. Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post. "We look forward to supporting Nalin Negi in his new role and are grateful for his tremendous contribution as the interim CEO. His extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the company," BharatPe, Chairman of the board, Rajnish Kumar said. Negi joined BharatPe in 2022, with over 28 years of experience in building and scaling businesses in the fintech and banking domains. "I am excited and honoured to take on this new role at BharatPe. Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products. "We are committed to building on the strong foundation, .