Fintech

PPSL is a crucial part of Paytm’s business, contributing to a quarter of the company’s consolidated revenue for the financial year ended in March 2023.

The central government has greenlit Paytm’s foreign direct investment (FDI) proposal for its payment aggregator business. Paytm Payment Services is one of the biggest remaining parts of the fintech firm’s business, accounting for a quarter of consolidated revenue in the financial year ended March 2023.

Paytm FDI Proposal Approved: Shares of fintech major Paytm surged up to 10% intraday on Friday following government approval of its foreign direct investment (FDI) proposal for the payment aggregator business. The financial services secretary announced that Paytm can now approach the Reserve Bank to seek the payment aggregator license, which will undergo further evaluation.

The Reserve Bank of India publishes the RBI-Digital Payments Index on a semi-annual basis with a lag of four months. It comprises five broad parameters which measure the penetration of digital payments in the country.

British fintech company Revolut said Thursday it had obtained a long-awaited UK banking licence — but must wait to lend money and take deposits as it remains in a restrictive phase. In the UK, the Prudential Regulation Authority has granted the fintech entry into the “mobilisation” stage, Revolut said Thursday.

The budget proposal to bring parity on long-term capital gains (LTCG) tax across all financial assets and abolish the angel tax will lead to more family offices investing in startups. These entities have increased their activity in startups over the past year. As per a PwC report, there were 45 family offices in 2018, which …

LTCG tax parity may bring more family offices to the startupland Read More »

Industry is hopeful that eventually this will be scaled up, and a higher sum of money will be disbursed to banks which will eventually be paid to payment applications. To promote digital payments the central government has made low value UPI and RuPay debit card payments at zero cost.

Kunal Shah-led Cred is unveiling a new service called Cred Money to help customers manage their bank accounts. With Cred Money, users can track usage over multiple bank accounts and understand their spending patterns. They can also use Cred’s in-built UPI offering to make payments. Shah told ET that Cred will work with RBI-licensed account …

Cred to help customers track bank accounts Read More »

The reduction in digital payment incentives raises concerns about the future growth and sustainability of UPI and other digital payment methods, especially given the significant costs involved in maintaining the payments infrastructure.

The partnership will enable Paytm to expand its presence by reaching a broader merchant base through Axis Bank. At the same time, it will enhance the latter’s merchant acquiring portfolio by improving transaction efficiency, according to a statement released on Tuesday.