Tagged: india

September 17, 2020 @ 9:11 pm By Omar Faridi  |  

India-based PhonePe, a major digital payments platform, has teamed up with the Brihanmumbai Electricity Supply and Transport (BEST) in order to offer a frictionless, contactless, safe, and secure payment option to commuters in Mumbai, which is a major financial center and one of the country’s… Read More

September 17, 2020 @ 8:09 pm By Omar Faridi  |  

Cryptocurrency and blockchain technology adoption continues to rise, with banks, institutional investors, and everyday consumers now using these platforms to engage in everyday transactions or to implement various business use cases. According to Chainalysis, the “patterns of cryptocurrency usage” vary widely across the globe. The… Read More

September 15, 2020 @ 9:04 pm By Omar Faridi  |  

India’s 5paisa, a publicly-listed Fintech company, has introduced the option to acquire international stocks. Prakarsh Gagdani, CEO at 5paisa, confirms that the new service allows its customers to invest in shares listed on Indian stock exchanges and it also allows them to acquire US stocks…. Read More

September 15, 2020 @ 12:39 am By Omar Faridi  |  

The Reserve Bank of India (RBI) is reportedly planning to use the Nandan Nilekani (Infosys co-founder) formula in order to measure the effectiveness of digital payments. Indian prime minister Narendra Modi’s administration has introduced the Digital India initiative which aims to determine the extent of… Read More

September 14, 2020 @ 11:37 pm By Omar Faridi  |  

Groww, an investment app that aims to focus on providing services to Indian millennials, has reportedly secured $21.4 million in capital through a Series B funding round – which was led by US-based VC firm Ribbit Capital. Existing investors Sequoia India and Y Combinator also… Read More

September 14, 2020 @ 4:33 pm By Omar Faridi  |  

Matic, a platform that aims to facilitate secure, scalable, and instant transactions that are verified by the Ethereum (ETH) blockchain network, has announced new project updates. The Matic developers claim that their project has been making steady progress after it was introduced via Binance Launchpad… Read More

September 9, 2020 @ 10:30 pm By Omar Faridi  |  

Fintech firm RapiPay, a subsidiary of Capital India Finance, revealed on September 8, 2020, that it’s planning to install 500,000 micro ATMs (mATMs) in the country during the next two years. RapiPay uses a franchised retail network to offer banking business correspondents (BCs) services. The… Read More

September 9, 2020 @ 8:42 pm By Omar Faridi  |  

Consumers in India are conducting more transactions online. Digital payments are on the rise which means that merchants must ensure that their websites are secure so that their customers can make secure payments. Financial service providers should work with Fintech solution developers to create resilient… Read More

September 7, 2020 @ 8:06 pm By Omar Faridi  |  

Ashwani Bhatia, MD at State Bank of India (SBI), has said that Fintech solutions should improve the nation’s banking and payment system. Bhatia revealed that the SBI is handling 91% of its tasks via all-digital platforms, which would have been inconceivable just 35 years ago…. Read More

September 4, 2020 @ 8:33 pm By Omar Faridi  |  

Fintech lenders in India are reportedly looking for ways to implement the Reserve Bank of India’s (RBI) loan restructuring scheme. Non-bank Indian companies and online lending platforms are trying to rework their loan collection and overall business strategies, according to the ET, which cited sources… Read More

September 2, 2020 @ 11:48 pm By Omar Faridi  |  

Sameer Nawani, Chief Representative of the Dubai Chamber’s International Office in Mumbai, has noted that the digitization and ongoing growth in technology will lead to significant changes in financial and healthcare services. Nawani, whose comments came during a recent webinar about the impact of COVID-19… Read More

September 1, 2020 @ 11:29 pm By Omar Faridi  |  

Fintech firm Niyogin, which is listed on the BSE (previously called Bombay Stock Exchange and located at Datal Street, Mumbai), has acquired a majority 51% stake in iServeU for INR 592 million (appr. $8 million) in a cash and stock deal. Niyogin aims to develop… Read More

September 1, 2020 @ 8:43 pm By Omar Faridi  |  

Singapore based Fintech firm Atlantis has reportedly launched a digital bank in India. The company’s business aims to target the estimated $15.7 billion global Millennial banking market. The neobank will mainly focus on serving Millennials (people born around 1980 to 1996) and Gen Z (born… Read More

August 31, 2020 @ 8:20 pm By Omar Faridi  |  

Online or digital onboarding for obtaining loans in India is expected to increase to 55-75% of the total credit disbursement by 2025, according to Akhil Handa, head of Fintech, partnerships and mobile banking and digital lending department, Bank of Baroda. Handa revealed that, between 2015… Read More

August 29, 2020 @ 6:09 pm By Xu Gao  |  

Cybersecurity Insurance Provider Yuanbao Tech Completes A Round of Financing led by GL Ventures On August 28th, cybersecurity insurance service provider Yuanbao Tech announced that it had completed a ¥ 10-million-level A round of financing. The investment was led by GL Ventures, with participation from… Read More

August 27, 2020 @ 10:31 pm By Samantha Hurst  |  

Kotak Mahindra Bank (Kotak) announced earlier this week the launch of the Cardless Cash Withdrawal Facility through ATMs (Instant Money Transfer – IMT). According to Kotak, the facility empowers account holders to make cash withdrawals as well as remit money to beneficiaries across India without… Read More

August 20, 2020 @ 10:45 pm By Omar Faridi  |  

The COVID-19 outbreak and nationwide lockdowns in India have forced many local residents to re-evaluate how they conduct business and manage their finances. An analysis performed by ETMoney reveals that the overall spend by India’s residents between March and June 2020 dropped by around 40%,… Read More

August 17, 2020 @ 10:27 am By JD Alois  |  

CoinDCX, a crypto exchange that claims to be the largest in India, says its fiat to crypto product Insta has experienced 38% month over month growth in volume, according to a statement by the firm. The company claims that Insta has become India’s most trusted… Read More

August 15, 2020 @ 11:31 am By Omar Faridi  |  

There are now at least 67 FIntech unicorns, globally, that are valued at a combined $244.6 billion, according to a recently published infographic by CBInsights which shows that North America, particularly the US, is home to some of the world’s largest Fintechs. Fintech unicorns are… Read More

August 13, 2020 @ 8:35 pm By Omar Faridi  |  

India-based Federal Bank (NSE: FEDERALBNK), an established private sector bank, has selected Fiserv, Inc. (NASDAQ: FISV), a multinational provider of payments and financial services tech solutions, to support the digitization of the bank’s end-to‑end card issuance and processing cycle. Fiserv will also assist with the… Read More