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Mswipe's payment business turns profitable, FY24 revenues grow 6%

In FY24, payments revenue grows 6.25% to Rs 275 crore; total payment value more than doubles to Rs 50,417 crore

Mswipe's payment business turns profitable, FY24 revenues grow 6%
Updated On : 30 Dec 2024 | 5:40 PM IST

RBI allows interoperability between PPIs like wallets for UPI payments

Currently, UPI payments are interoperable such that a user can use any TPAP to transfer funds

RBI allows interoperability between PPIs like wallets for UPI payments
Updated On : 27 Dec 2024 | 11:45 PM IST

ULI will be for lending what UPI is for payments: RBI Dy Guv at BFSI Summit

BS BFSI Summit: RBI is actively working to link UPI with other countries, aiming for global acceptance that would allow Indians abroad to make payments using UPI, said RBI Deputy Governor

ULI will be for lending what UPI is for payments: RBI Dy Guv at BFSI Summit
Updated On : 11 Nov 2024 | 4:56 PM IST

GenWise launches UPI payments for senior citizens with secure interface

This is the industry's first-ever introduction of UPI for elders, offering a simple user interface, enhanced security, and cyber fraud awareness

GenWise launches UPI payments for senior citizens with secure interface
Updated On : 08 Nov 2024 | 6:30 PM IST

Ashneer Grover withdraws NCLT plea against BharatPe after settlement

Ashneer Grover, co-founder and former managing director of BharatPe, withdrew his plea from the National Company Law Tribunal (NCLT), in which he had alleged oppressive conduct and mismanagement by the board of the fintech firm. The withdrawal of the plea from the NCLT's Delhi bench came after Grover reached a settlement with the company on September 30, 2024. A copy of the settlement agreement was also placed before the NCLT by the counsel appearing for Grover, who had filed an application for withdrawal of the petition. "... during the pendency of the said petition, parties have arrived with settlement and also executed the settlement agreement dated September 30, 2024, a copy of which is placed on record and in view of the settlement applicant (who ispPetitioner in the main company petition) has sought liberty to withdraw the company petition," the NCLT order dated October 14, 2024, noted. It further said: "Liberty is granted to the applicant to withdraw the company petition...

Ashneer Grover withdraws NCLT plea against BharatPe after settlement
Updated On : 18 Oct 2024 | 1:21 PM IST

UPI crosses 500 million daily transactions; value falls flat in September

In volume terms, this is the highest number since UPI became operational in April 2016. The number of daily transactions was higher than 483 million and Rs 66,475 crore in August

UPI crosses 500 million daily transactions; value falls flat in September
Updated On : 02 Oct 2024 | 12:00 AM IST

NIPL, Trinidad and Tobago ink agreement to develop UPI-like payments system

The partnership follows a series of recent announcements NIPL has made regarding the global expansion of UPI and associated rails

NIPL, Trinidad and Tobago ink agreement to develop UPI-like payments system
Updated On : 27 Sep 2024 | 7:31 PM IST

Payoneer to adopt localised approach for expanding user base in India

Cross-border business payment services provider Payoneer looks to leverage its global marketplace partnerships and take a localised approach to expand its reach in India amid "rapid expansion" in the country's service export market. According to Payoneer India Vice-President and Spokesperson Gaurav Shisodia, India is a priority country for Payoneer and holds a strategic position. India's service export market is expanding rapidly and Payoneer looks to capitalise on this expansion, he said, adding that the company primarily caters to outsourcing and service export businesses and small and medium businesses (SMBs). Payoneer is well-positioned to capitalise on this expansion and would strategically respond to the strong surge in businesses in the domains of tech and programming, digital marketing, software-as-a-service (SaaS), e-commerce exporters, and marketplace sellers' sectors, Shisodia said. As part of measures to expand its reach in India, Payoneer looks to leverage its global

Payoneer to adopt localised approach for expanding user base in India
Updated On : 25 Sep 2024 | 3:44 PM IST

Google Pay launches UPI Circle, other features at Global Fintech Fest 2024

UPI Circle on Google Pay is a feature designed to help users make digital payments without needing to link their own bank account

Google Pay launches UPI Circle, other features at Global Fintech Fest 2024
Updated On : 30 Aug 2024 | 9:00 PM IST

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

Small UPI players show promise even as larger ones continue to dominate
Updated On : 21 Aug 2024 | 4:55 PM IST

We have seen over 30% improvement using CoPilot: Razorpay's Brahmadesam

In the fintech sector, we focus a lot on feature development. While doing so, specifically in India, the regulation and the market landscape is constantly changing, he says

We have seen over 30% improvement using CoPilot: Razorpay's Brahmadesam
Updated On : 18 Aug 2024 | 10:27 PM IST

NPCI to level up UPI play with BHIM spin-off; appoints Nataraj CEO of arm

Lalitha Nataraj previously worked with IDFC FIRST Bank and ICICI Bank

NPCI to level up UPI play with BHIM spin-off; appoints Nataraj CEO of arm
Updated On : 12 Aug 2024 | 12:18 AM IST

PhonePe retains top position on UPI in June, Paytm's market share slips

Nearly one out of two transactions on the National Payments Corporation of India (NPCI)-run UPI are processed on fintech major PhonePe's platform

PhonePe retains top position on UPI in June, Paytm's market share slips
Updated On : 22 Jul 2024 | 7:12 PM IST

Paytm Q1: Loss widens to Rs 838.9 cr, total income declines 33.5%

Hope to deliver at least one profitable quarter this year, says Sharma

Paytm Q1: Loss widens to Rs 838.9 cr, total income declines 33.5%
Updated On : 19 Jul 2024 | 9:26 PM IST

RBI approves Aurionpro Payments plea to become online payment aggregator

Aurionpro Payment Solutions on Thursday said it has received Reserve Bank's nod to operate as an online payment aggregator via its payment gateway brand AuroPay. The authorisation from the apex bank enables the company to operate as an online payment aggregator to provide digital payments services to merchants across the country. "Aurionpro Payment Solutions Private Limited, a subsidiary of Aurionpro...has received final authorisation from the Reserve Bank of India to operate as an Online Payment aggregator under the Payments Settlements Act, 2007, through its payments brand AuroPay," a company statement said. The Mumbai-based technology solutions company caters to the needs of banking, mobility, payments and government sectors. Shares of Aurionpro Solutions settled at Rs 2,669.40 apiece on Thursday on the BSE, up 4.94 per cent from the previous close.

RBI approves Aurionpro Payments plea to become online payment aggregator
Updated On : 13 Jun 2024 | 6:34 PM IST

Now, Adani Group plans to enter India's digital payment, e-commerce spaces

The Adani Group plans to offer new services through its consumer app, Adani One, which was launched in late 2022. The app currently offers travel services such as flight and hotel bookings

Now, Adani Group plans to enter India's digital payment, e-commerce spaces
Updated On : 28 May 2024 | 10:31 AM IST

Non-fintech online PAs: Firms may reconsider payment aggregator biz

This comes as Zomato Payments, the wholly owned subsidiary of food delivery platform Zomato, voluntarily surrendered the certificate of authorisation issued by the RBI

Non-fintech online PAs: Firms may reconsider payment aggregator biz
Updated On : 19 May 2024 | 10:44 PM IST

Zomato to surrender RBI licence to operate as online payment aggregator

Food tech major Zomato on Monday said its subsidiary Zomato Payment Pvt Ltd (ZPPL) has decided to voluntarily surrender the certificate of authorisation it obtained from the Reserve Bank to operate as an online payment aggregator. "At Zomato, we do not see ourselves having a significant competitive advantage against the incumbents in the payments space and hence we don't foresee a business in payments space as commercially viable for us, at this stage. "While we were conscious of these developments as they unfolded, the real impact was more apparent as we got closer to putting in place the structure to commence the operations," Zomato said in a regulatory filing. The development comes months after the company received the licence from the central bank to operate as an online payment aggregator, with effect from January 24, 2024. Zomato said the Board of Directors of ZPPL has also decided to withdraw the application dated November 11, 2021 submitted with the RBI to operate as the ..

Zomato to surrender RBI licence to operate as online payment aggregator
Updated On : 13 May 2024 | 9:41 PM IST

Google introduces private digital wallet for Android users in India

Google has introduced a private digital wallet for Android users in India, allowing users to securely store cards, tickets, passes, keys and IDs, an official said on Wednesday. Google Wallet can be downloaded from Play Store and would allow users to store their debit cards, credit cards, loyalty cards, and gift cards among other things. It is different from Google Pay app which helps manage money and finances. "Google Pay is not going anywhere. It will remain our primary payments app. Google Wallet is specifically tailored for non-payment use cases," said Ram Papatla, GM & India Engineering Lead, Android at Google.

Google introduces private digital wallet for Android users in India
Updated On : 08 May 2024 | 12:45 PM IST

PayU gets RBI's in-principle nod to operate as payment aggregator

Fintech firm PayU has received an in-principle approval from the Reserve Bank to operate as a payment aggregator, the company said on Wednesday. In January 2023, RBI had returned applications of Prosus Group firm PayU and asked it to resubmit them within 120 days. With in-principle approval in place, PayU can now onboard new merchants to provide them digital payment services. "This license is pivotal in our mission to establish a globally renowned digital payment infrastructure rooted in India. Aligned with the government's Digital India initiative and the RBI's forward-thinking regulations, we are dedicated to driving digitisation and financial inclusion, particularly for small merchants," said Anirban Mukherjee, Chief Executive Officer (CEO), PayU.

PayU gets RBI's in-principle nod to operate as payment aggregator
Updated On : 24 Apr 2024 | 12:37 PM IST