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Fintech news covering the emerging Financial Technology services sector

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News

General

Airtel Finance launched fixed deposits with a 9.1% interest rate on its digital platform via a collaboration with small finance banks and NBFCs. 

Airtel Finance Introduces Fixed Deposits At 9.1% Interest Rates

IPO (1)

IPOs

Tech

Pine Labs, a leading digital payments provider in Asia, is reportedly considering a $1 billion (around ₹8,300 crore) IPO in India. This move comes as investor interest in the Indian stock market continues to surge.

Pine Labs Reportedly Wants To Go Public At $6B Valuation, Almost Double Paytm&#39;s Size

Jio Financial Share Price

Equities

Markets

&#39;JioFinance&#39; app offers a unified view of accounts and savings and is designed for users across all levels of financial technology proficiency, the company said. 

Jio Financial Services Launches JioFinance App In Beta Version

Latest Earnings

Stock Analysis

Stock Movers

Deals

Gainers And Losers

Artificial Intelligence

Technology

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Benzinga Inspire

Fintech - Latest News and breaking headlines

Flipkart

Industry insiders are forecasting that Flipkart&#39;s UPI usage will likely surpass that of Amazon Pay UPI in the long run.https://in.benzinga.com/content/38329032/reliance-owned-small-cap-stock-rocketing-after-q4-brokerage-raises-target-price

Flipkart&#39;s UPI Handle Records Over 5 Mn Transactions In March

fintech

Startups

Exclusives

Interview

VoloFin offers invoice financing and supply chain solutions to SMEs in Singapore and India. CEO Roshan Shah talks about the company&#39;s growth and impact in an interview.

This Fintech Company Is Helping Small Businesses Fix Their Short-Term Cash Flow Needs

Aditya Birla Capital&#39;s super app is currently undergoing testing within a closed user group, aims to provide a broad spectrum of financial services on a singular digital platform.

Aditya Birla Capital&#39;s Super App Is Set To Shake Up Fintech: Here&#39;s Why

Former BharatPe MD Ashneer Grover

Ashneer Grover, founder of BharatPe, is launching a new app for medical loans, in collaboration with NBFC Mukut Finvest.

Ashneer Grover Makes A Comeback To Fintech After BharatPe Fiasco, Launches App For Medical Loans

Paytm soundbox

With an estimated 10-12 million sound boxes dotting the Indian retail landscape, fintech giants are eyeing an opportunity to turn these transactional devices into miniature broadcast stations.

PhonePe, Paytm Could Soon Try Out Audio Ads On Their Sound Box Devices

ONDC

This initiative aims to integrate 500 street food vendors within the next couple of months into the digital marketplace, marking a significant stride towards national expansion across various seller and buyer platforms.

ONDC Brings Delhi, Lucknow&#39;s Street Food Vendors Into the Digital Fold In Pilot Project

paytm payments bank

Government

Regulations

March 15 marks a turning point for Paytm Payments Bank account holders, as certain services like deposit acceptance and credit transactions will be halted due to RBI restrictions.

What Paytm Payments Bank Users Need To Know Before March 15?

Paytm

With a staggering 3,513 grievances, Paytm accounted for over 62% of the total 5,623 complaints directed at all payment banks.

Paytm Payments Bank Leads In Customer Complaint Among Payments Banks

Data from the National Payments Council of India revealed a 14% drop in Paytm&#39;s transaction value on the country&#39;s Unified Payments Interface (UPI) to ₹1.65 lakh crore ($19.9 billion) from January. 

Are Google And Walmart Benefitting From Paytm&#39;s Regulatory Woes?

UPI payments

The collaboration will enable the two entities to manage fund settlement, reconciliation, and dispute resolutions within their respective jurisdictions

NIPL And Eurobank Collaborate To Enable UPI Remittances From Greece

Amazon Pay india

Beyond the PA licence, Amazon Pay also possesses a Prepaid Payment Instruments (PPI) licence, which allows it to offer wallet services like Amazon Pay balance: Money, in compliance with RBI regulations.

Amazon Pay Joins The Fintech Big Leagues: Receives Payment Aggregator Licence In India

RBI announced steps for Paytm UPI customers. No new deposits in accounts/wallets after March 15, 2024. Other banking options advised for users.

RBI Rolls Out Key Updates For Paytm UPI Handles: Here&#39;s What You Need To Know

Google Pay

In the background of Paytm addressing merchant transaction issues and adjusting virtual payment address settings, Google Pay&#39;s move to expand its SoundPod service signifies a strategic step in enhancing payment experiences for small merchants across India.

Paytm&#39;s Regulatory Hurdles Push Google Pay To Expand SoundPod Service Nationally

App Store

The Indus Appstore is part of PhonePe&#39;s expanding ecosystem, which already includes the &#39;Switch&#39; platform, offering app-like experiences in various categories, and competes with Paytm&#39;s mini app store.

PhonePe Launches Appstore To Challenge Google Play&#39;s Dominance In India: Here&#39;s Why

Social Media

Pine Labs&#39; counter-ad on X (formerly known as Twitter) subtly hints at the trustworthiness of information, with a tagline that reads, ‘The front page can be bought. Trust cannot.&#39;

&#39;The Front Page Can Be Bought, Trust Cannot&#39;: PineLabs Takes Potshot At Paytm&#39;s Ad

Nithin Kamath finfluencers

Kamath emphasizes that such scams prey on emotional vulnerabilities, such as greed or fear, and urges the public not to make hasty decisions.

Zerodha CEO Exposes New Phishing Scams Mimicking Indian Brokers

Paytm CEO Vijay Shekhar Sharma

Movers

Trading Ideas

Shares of Paytm continued to recover for the second straight session on Wednesday as the stock surged up over 10% to hit the upper circuit.

Paytm Shares Continue Recovery, Stock Hits Upper Circuit

Bear market

In the aftermath of a $2 billion rout, the daily trading limits for fintech company Paytm have been cut down from 20% to 10% by the stock exchanges.

Paytm Share Price Can&#39;t Move More Than 10% From Monday As Stock Exchanges Change Limit

New,Delhi,,India-,December,30,2016:,Paytm,Bar,Code,For

Amidst these reactions, Paytm&#39;s parent company, One97 Communications, anticipates a substantial hit of ₹300-500 crore on its EBITDA due to the RBI&#39;s crackdown.

RBI&#39;s Clampdown On Paytm Payments Bank Has Indian Fintech Leaders Riled: Here&#39;s What They&#39;re Saying

Legal

The RBI&#39;s decision stems from a Comprehensive System Audit report and subsequent reviews by external auditors.

RBI Imposes Strict Restrictions On Paytm Payments Bank, Halts New Deposits And Credit Transactions

Flipkart expects its upcoming UPI platform, developed after spinning off its former payment arm PhonePe, to streamline the checkout process for customers.

Flipkart Is Planning To Launch A New UPI-Based Payment Solution: What&#39;s Cooking?

This move aligns with NPCI&#39;s goal to strengthen India&#39;s stature in the global digital payment arena and simplify remittances by reducing reliance on traditional money transfer methods.

UPI Goes International: Google India And NPCI Sign MoU For Global Expansion

FASTag

Users must ensure their latest FASTag is KYC-compliant as per RBI guidelines. This is crucial to avoid inconvenience post the January 2024 deadline.

Update FASTag KYC Before Deadline Or Risk Deactivation, Warns NHAI: Here&#39;s How To Check

Despite the fintech industry&#39;s struggle to form a united SRO, discussions about self-regulation began in early 2023 and gained momentum in October 2023, following an RBI press briefing.

RBI Unveils Draft Framework For Fintech Self-Regulation: Here&#39;s Why It Matters

Qr,Code,Payment,,Customer,Using,Smartphone,For,Paying,At,Shop

For Tata Payments, this license is a game-changer, potentially reducing its reliance on external PA partners who command high service charges for payment collections.

Tata Payments Secures RBI Payment Aggregator License: Here&#39;s Why It&#39;s A Major Win For The Conglomerate

Customers with deactivated UPI IDs and numbers will need to re-register in their UPI apps to reactivate their accounts.

NPCI Will Deactivate Certain UPI IDs After December 31: Here&#39;s What We Know

BHIM UPI

Despite the massive growth in UPI transactions, RuPay has seen a decline in volume, prompting the Ministry to revise the scheme and introduce new features like UPI Lite and UPI LiteX for low-connectivity areas.

RuPay, BHIM-UPI Set For Major Boost With ₹5,016 Cr Infusion From Finance Ministry

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