Tagged: india

February 20, 2020 @ 7:30 am By Omar Faridi  |  

Paxful, a leading peer-to-peer (P2P) Bitcoin marketplace, revealed that it processed more than $1.6 billion worth of global trading volume last year. India’s digital assets industry has been experiencing major challenges as the nation’s central bank, the Reserve Bank of India, has prohibited local banks… Read More

February 17, 2020 @ 10:36 pm By Omar Faridi  |  

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

February 16, 2020 @ 10:07 am By Omar Faridi  |  

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

February 14, 2020 @ 2:46 am By Omar Faridi  |  

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

February 14, 2020 @ 12:35 am By Omar Faridi  |  

London-based Fintech Paysafe, a specialized payments service provider, recently appointed Sujit Unni as the firm’s CTO in order to strengthen its core technology management team. Unni will lead Paysafe’s technology strategy and will be expected to assist with the design, and architecture of Paysafe’s end-to-end… Read More

February 10, 2020 @ 4:15 am By Omar Faridi  |  

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

February 10, 2020 @ 1:51 am By Omar Faridi  |  

London-headquartered Paysend, an international funds transfer company, has confirmed the launch of its money transfer services in Australia. Paysend’s services can now be used in the $1.3 trillion economy to send funds to companies located abroad. The firm said that China, India, and Vietnam are… Read More

February 6, 2020 @ 10:16 pm By JD Alois  |  

Dot, a digital transformation platform for offline to online commerce, has received $8 million in funding led by PayU and Fosun RZ Capital with participation from Info Edge Ventures and more. Dot was founded by PayU India’s ex co-founder Shailaz Nag. Dot says it currently… Read More

February 5, 2020 @ 11:00 pm By Omar Faridi  |  

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

February 5, 2020 @ 9:05 pm By Omar Faridi  |  

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

February 3, 2020 @ 10:50 pm By JD Alois  |  

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

February 3, 2020 @ 6:00 pm By Omar Faridi  |  

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

February 2, 2020 @ 4:43 pm By Omar Faridi  |  

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

February 1, 2020 @ 4:25 pm By Omar Faridi  |  

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

February 1, 2020 @ 9:14 am By Omar Faridi  |  

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

January 30, 2020 @ 4:25 am By Omar Faridi  |  

  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

January 29, 2020 @ 6:56 am By Omar Faridi  |  

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

January 29, 2020 @ 4:32 am By Omar Faridi  |  

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

January 29, 2020 @ 2:40 am By Omar Faridi  |  

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

January 28, 2020 @ 12:54 pm By Omar Faridi  |  

Westpac-backed VC fund Reinventure aims to increase its presence in Asia’s Fintech economy. Reinventure has reportedly joined a $90 million investment round for Kredivo’s owner, Indonesia’s fast-growing “buy now, pay later” (BNPL) platform. Asia Growth Fund and Square Peg led Reinventure’s latest round for FinAccel,… Read More