Search Results for: india

Indian Digital Payments Giant Paytm’s Founder Reveals Fintech Firm’s Roadmap to Profitability

India-based digital payment giant Paytm says it hopes to become profitable in the coming years  as it plans to develop a new business strategy. Vijay Shekhar Sharma, the 41-year-old billionaire founder and CEO at Paytm, who leads One 97 Communications, the parent firm of Paytm,… Read More

India’s Residents will Soon Have the Option to Submit Votes via Blockchain-enabled Platform

India’s residents will soon have the option to submit votes from outside their city of registration. The nation’s citizens will be able to use a blockchain-enabled platform to cast their votes. The Times of India reported on February 13 that Sunil Arora, the country’s chief… Read More

India’s Payments Giant Paytm Partners Uber to Add Credit and Debit Card Processing to Allow Users to Easily Settle Card Transactions

India-based Paytm, an established payment gateway, has teamed up with ride-hailing app Uber in order to add credit and debit processing and will allow customers to easily perform card transactions. Uber will use the existing digital wallet integration with Paytm’s platform to offer riders a… Read More

Securities and Exchange Board of India Launches Regulatory Sandbox for Fintech Firms

India’s financial technology sector is expanding rapidly, which has led to SEBI, the nation’s financial market regulator, to launch a regulatory sandbox. The sandbox program will assist local Fintech firms with testing out new products and services with a small group of users before introducing… Read More

India-based Crypto Exchange CoinDCX Partners with Digital Asset Exchange OKEx to Offer Greater Liquidity to Indian Traders

India-based CoinDCX, a leading digital asset exchange and liquidity aggregator, recently confirmed that it has teamed up with major multinational crypto-asset trading platform for futures and derivatives, OKEx.  As noted in a press release shared with Crowdfund Insider: “With this partnership, OKEx will gain access… Read More

Bengaluru-based Payments Firm Innoviti to Update its “Self-Healing” Tech, Supported by Dual-SIM Cards Across Point-of-Sales Terminals in India

Bengalaru-based Innoviti, a payment technology developer, has confirmed that it’s updating its “self-healing” technology, which is supported by dual-SIM cards across retail point-of-sales (PoS) terminals in India.  Innoviti’s latest technology has been developed to de-risk the processing of payments made at PoS terminals that are… Read More

SBM Bank India Teams Up with Karbon to Launch Karbon Card, India’s First Corporate Credit Card for Startups

SBM Bank India recently confirmed that it has teamed up with Karbon in order to introduce the Karbon Card, which is notably one of the nation’s first corporate credit card designed specifically for startups or early-stage firms. All corporate credit cards issued will come with… Read More

India’s Largest Private Lender HDFC Bank Appoints Anjani Rathor as Head of Digital Banking

HDFC Bank, the largest private sector lender in India, recently appointed Anjani Rathor as the institution’s new group head of digital banking. Rathor’s official designation is chief digital officer at HDFC. He will be tasked with taking the institution’s digital transformation strategy forward, the bank… Read More

Popular Crypto Exchange Zebpay Set to Relaunch in India After Shutting Down Due to Regulatory Pressure

Nearly 16 months after winding down its business operations in India, digital asset exchange Zebpay is reportedly set to resume offering services in the country. Zebpay was one of the most popular crypto exchanges in India. However, it had to shut down because of a… Read More

Public Sector Lender, Bank of Maharashtra, Tops List of Indian Banks for Most Digital Transactions in December 2019

Bank of Maharashtra (BoM), a small public sector Indian bank and lender, reportedly topped the list of all the country’s banking institutions for digital transactions performed in December of last year. This, according to India’s Ministry of Electronics and Information Technology (Meity). Meity data shows… Read More

India: Federal Bank Opens First “Digital Branch”

Federal Bank, a private bank with a branch network of 1,251 branches and about 2000 ATMs, has issued a release that it has opened its first “digital branch” called “Fed-e-Studio .” This digital branch was announced at an event last week at Rajarhat Bhatenda. Dr…. Read More

Indian Finance Minister Nirmala Sitharaman Recommends Allocating $1.14 Billion to Boost Nation’s Fintech Economy, with Investments in AI, Machine Learning

The Indian government recently revealed its Union budget for the FY 2021. Following the announcement, it appears that the nation’s Fintech industry has been given special attention, as Indian finance minister Nirmala Sitharaman proposed on February 1 to introduce a policy for creating data center… Read More

Two-Thirds of Indian Fintech Consumers Applied for Online Credit and Made Digital Payments in 2019: Survey

Digital payments and online lending are becoming increasingly popular in Asian countries. According to a new survey, a large number of Asia-based users are conducting internet-based transactions, instead of visiting physical bank locations. The recent survey of Fintech customers by Robocash Group revealed that nearly… Read More

India-based Fintech Industry Firm U GRO Capital Reports Profits in Just One Year of Operations

India-based Fintech industry participant U GRO Capital is notably among the few digital lending players that has taken a serious approach towards business development. The listed firm offers credit to small businesses and has managed to achieve profitability in just the first year of its… Read More

India-based AI-enhanced Consumer Lending Platform ZestMoney Records Over 125% EMI Financing in 2019

India-based ZestMoney, an artificial intelligence (AI)-powered consumer lending platform, confirmed recently that last year, it managed to record more than 125% in equated monthly installment (EMI) financing. The Bengaluru-headquartered firm noted that online EMIs comprise a large portion of the Indian economy, experiencing a record-breaking… Read More

CBDC: India’s National Institute of Smart Government Suggests Issuing Central Bank Digital Rupee

  India-based non-for-profit organization, the National Institute for Smart Government (NISG), has reportedly proposed issuing a digital Indian rupee in its draft National Strategy on Blockchain. A central bank digital rupee, or CBDR, would be issued and managed on a permissioned (private) blockchain network, where… Read More

India’s Digital Payments Solutions Provider Infibeam Records Highest Ever Online Payments Processing Volume Despite Economic Downturn

India-based Infibeam Avenues Limited, an established online payment solutions and enterprise software solutions developer, recently recorded the highest ever digital payment processing volume of approximately INR 159 billion (appr. $2.23 billion) during a period of significant slowdown in the nation’s economy and also amidst tough… Read More

Maharashtra-based Nashik Merchant’s Co-op Bank to Go Digital, Partners with India Transact Services Ltd

The Nashik Merchant’s Co-op Bank (NAMCO), a Maharashtra-headquartered co-operative bank has decided to go digital. The Indian co-op bank has reportedly teamed up with India Transact Services Limited (ITSL), in order to introduce point of sale (PoS) terminals for all of its merchant accounts. This… Read More

India-based Consumer Lending Firm MoneyTap Secures $7 Million via Series B Equity and Debt Financing Round

India-based consumer lending firm MoneyTap has secured around $7.14 million through a  Series B equity and debt financing round from investors, including Aquiline Technology Growth (ATG), RTP Global and Sequoia India. Additionally, several Korea and Japan-based investors took part in the round. Existing investors Prime… Read More

India-based Digital Bank Nupay Secures Investments via Round Led by Venture Catalysts

The rapidly evolving digital banking sector has been receiving a significant amount of venture capital investments. India-headquartered neobank Nupay recently acquired an undisclosed amount of capital from several investors led by integrated incubator and accelerator platform, Venture Catalysts. Navin Puri, ex-country head of Branch Banking… Read More

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