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Digital payment transactions value hits Rs 3,659 lakh cr in FY24, UPI clocks 138 pc growth The number of digital payment transactions volume in India surged from 2,071 crore in fiscal 2017-18 to 18,737 crore in fiscal 2023-24 at a compounded annual growth rate (CAGR) of 44 per cent, the government said on Friday.   Furthermore, during the last five months (April-August) of the current financial year 2024-25, the transaction volume has reached 8,659 crore, according to the Ministry of Finance data. The value of transactions has grown from Rs 1,962 lakh crore to Rs 3,659 l...
Digital payment transactions value hits Rs 3,659 lakh cr in FY24, UPI clocks 138 pc growth
Digital payment transactions value hits Rs 3,659 lakh cr in FY24, UPI clocks 138 pc growth
Source: IANS
2024-09-20 04:49:51 pm
Paytm sells entertainment ticketing business to Zomato for Rs 2,048 crore Digital payments major Paytm on Wednesday announced to sell its entertainment ticketing business to food aggregator Zomato for Rs 2,048 crore in cash, in a move to focus on core payments and financial services distribution.  The transfer will also include 280 existing employees from the entertainment ticketing business at the company. One 97 Communications Limited (OCL), the parent company of Paytm, will transfer its entertainment ticketing business to Zomato by transfer of OCL&rsq...
Paytm sells entertainment ticketing business to Zomato for Rs 2,048 crore
Paytm sells entertainment ticketing business to Zomato for Rs 2,048 crore
Source: IANS
2024-08-22 09:53:11 am
India’s Digital Public Infrastructure goes global, says minister India’s unique Digital Public Infrastructure (DPI), which has transformed millions of lives, is now being replicated in several countries, the Centre has informed.  Aadhaar, which is the world’s largest digital identity programme that provides biometric and demographic-based unique digital identity, has generated 138.04 crore IDs to date. More than 30 crore users have been facilitated and 675 crore issued documents made available by DigiLocker, according to Jitin Prasad...
India’s Digital Public Infrastructure goes global, says minister
India’s Digital Public Infrastructure goes global, says minister
Source: IANS
2024-07-27 10:11:25 am
India's digital payments record double-digit growth: RBI data Digital payments in India have registered a 12.6 per cent increase year-on-year with the RBI's Digital Payments Index (RBI-DPI) rising to 445.5 at the end of March 2024 compared to 418.77 in September 2023 and 395.57 in March 2023.   "The RBI-DPI index has increased across all parameters driven by significant growth in payment performance and payment infrastructure across the country over the period," the RBI said on Friday.  The Reserve Bank has been publishing ...
India's digital payments record double-digit growth: RBI data
India's digital payments record double-digit growth: RBI data
Source: IANS
2024-07-27 09:24:33 am
PM Narendra Modi`s approach to digital public infra has been relentless, meticulous: Amitabh Kant Prime Minister Narendra Modi's approach towards digital public infrastructure has been relentless and meticulous, delivering rich dividends for Indian citizens, said G20 Sherpa and former NITI Aayog CEO Amitabh Kant on Saturday. Praising PM Modi leadership, Kant said that people in India do 130 billion fast payment transactions in a year today. "Today in India, we do 130 billion fast payment transactions in a year and the success story of India's digital payments has been s...
PM Narendra Modi`s approach to digital public infra has been relentless, meticulous: Amitabh Kant
PM Narendra Modi`s approach to digital public infra has been relentless, meticulous: Amitabh Kant
Source: IANS
2024-06-30 08:58:01 am
Buy One 97 Communications Ltd For Target Rs. 4,200 - Motilal Oswal Financial Services Steady performance amid high uncertainty Adj. EBITDA beat estimates; business metrics tracking well despite curtailment in postpaid disbursements * Paytm reported a net loss of INR2.2b (vs. est. of INR2.6b loss) in 3QFY24. Total revenue grew 38% YoY/13% QoQ to INR28.5b (broadly in line), driven by healthy growth in GMV and an increase in merchant subscription revenues, partly offset by some moderation in disbursements. * Net payment margin grew 63% YoY/6% QoQ to INR7.5b, which, alon...
Buy One 97 Communications Ltd For Target Rs. 4,200 - Motilal Oswal Financial Services
Buy One 97 Communications Ltd For Target Rs. 4,200 - Motilal Oswal Financial Services
Source: motilal oswal financial services Ltd
2024-05-01 11:05:56 am
India to broaden e-rupee distribution beyond banks to boost retail use, central bank says The Reserve Bank of India (RBI) plans to use non-bank payment system operators, including third-party payment app providers, to make the e-rupee more accessible to retail users, it said on Friday. The RBI piloted its central bank digital currency (CBDC) in 2023 but only allowed banks to offer these tokens, which led to subdued transaction volumes. It has now proposed that non-bank payment system operators, which include third-party payment app providers like PhonePe, Google Pay and Payt...
India to broaden e-rupee distribution beyond banks to boost retail use, central bank says
India to broaden e-rupee distribution beyond banks to boost retail use, central bank says
Source: Reuters
2024-04-05 12:58:53 pm
RBI okays use of 3rd party UPI apps for payments from PPI wallets The RBI has decided to permit the use of third-party UPI apps for making UPI payments from PPI wallets to further enhance customer convenience and boost adoption of digital payments for small value transactions, RBI Governor Shaktikanta Das said on Friday. At present, UPI payments from Prepaid Payment Instruments (PPIs) can be made only by using the web or mobile app provided by the PPI issuer, the use of third-party UPI apps will give users more flexibility and make it easier for them to ...
RBI okays use of 3rd party UPI apps for payments from PPI wallets
RBI okays use of 3rd party UPI apps for payments from PPI wallets
Source: IANS
2024-04-05 12:10:08 pm
Worldline releases its India Digital Payments Report for H2 2023 Worldline (Euronext: WLN), a global leader in payment services, today unveils its India Digital Payments Report for H2 2023 (July to December 2023) which captures a series of noteworthy trends and shifts within the digital payments landscape. The report reveals that UPI remains dominant in the payment system and is rapidly expanding its reach beyond India.   The report cited that the number of UPI transactions has seen a significant uptrend in H2 2023 growing at 56% YoY with t...
Worldline releases its India Digital Payments Report for H2 2023
Worldline releases its India Digital Payments Report for H2 2023
Source: PR Agency
2024-04-05 09:03:30 am
UPI transactions volume surge 56 pc, average ticket size drops 8 pc The number of Unified Payments Interface (UPI) transactions witnessed a staggering growth at 56 per cent (year-on-year) in the second half of last year (H2 2023), with the volume being at 65.77 billion from 42.09 billion in H2 2022, a new report showed on Wednesday. The value of transactions in the same period surged by 44 per cent from Rs 69.36 trillion to Rs 99.68 trillion, according to the report by global payment services leader Worldline. In terms of volume and value, PhonePe, Goog...
UPI transactions volume surge 56 pc, average ticket size drops 8 pc
UPI transactions volume surge 56 pc, average ticket size drops 8 pc
Source: IANS
2024-04-03 03:19:19 pm
Paytm streamlines metro rides with Easy QR Ticket Purchases & Smart Card Recharges -       Bringing Seamless Transit Solutions to India's Major Cities: Delhi, Mumbai, Hyderabad, Chennai, and Bengaluru One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading digital payments and financial services company and the pioneer of QR code, soundbox, and mobile payments, offers metro card recharge for metro commuters in Bengaluru, Chennai, Delhi, Hyderabad, and Mumbai directly through the app. This feature all...
Paytm streamlines metro rides with Easy QR Ticket Purchases & Smart Card Recharges
Paytm streamlines metro rides with Easy QR Ticket Purchases & Smart Card Recharges
Source: PR Agency
2024-03-29 05:05:32 pm
RBI meeting reviews economic outlook amid global challenges The RBI's Central Board of Directors at a meeting held in Nagpur on Friday reviewed the global and domestic economic situation and outlook, including the challenges posed by geopolitical developments and global financial market volatility. The meeting under the Chairmanship of RBI Governor Shaktikanta Das also discussed the Reserve Bank's activities including the progress made in digital payments, consumer education and awareness during the current accounting year 2023-24, accordin...
RBI meeting reviews economic outlook amid global challenges
RBI meeting reviews economic outlook amid global challenges
Source: IANS
2024-03-23 08:56:19 am
Robust investment, strong demand driving India`s growth amid global slowdown: Finance Ministry  Robust investment activity and strengthening private consumption demand is driving growth in the Indian economy amidst the sluggish global growth, according to the Finance Ministry’s monthly review released on Friday. The strong demand is evident from indicators like burgeoning air passenger traffic and sale of passenger vehicles, rising digital payments, improved consumer confidence and expectations of a normal monsoon, the report states. Increased demand for residential pr...
Robust investment, strong demand driving India`s growth amid global slowdown: Finance Ministry
Robust investment, strong demand driving India`s growth amid global slowdown: Finance Ministry
Source: IANS
2024-03-23 08:50:59 am
Infibeam Avenues shines on launching AI product `THEIA` Infibeam Avenues is currently trading at Rs. 41.76, up by 1.61 points or 4.01% from its previous closing of Rs. 40.15 on the BSE. The scrip opened at Rs. 40.95 and has touched a high and low of Rs. 42.50 and Rs. 39.48 respectively. So far 7033064 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 42.50 on 11-Mar-2024 and a 52 week low of Rs. 12.85 on 28-Mar-2023. Last one week high and low of the scrip stood at Rs....
Infibeam Avenues shines on launching AI product `THEIA`
Infibeam Avenues shines on launching AI product `THEIA`
Source: Accord Fintech
2024-03-11 10:37:57 am
Infibeam Avenues trades higher on BSE Infibeam Avenues is currently trading at Rs. 37.60, up by 0.53 points or 1.43% from its previous closing of Rs. 37.07 on the BSE. The scrip opened at Rs. 37.24 and has touched a high and low of Rs. 37.24 and Rs. 38.90 respectively. So far 6383148 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 40.00 on 1-Feb-2024 and a 52 week low of Rs. 12.85 on 28-Mar-2023. Last one week high and low of the scrip stood at Rs. ...
Infibeam Avenues trades higher on BSE
Infibeam Avenues trades higher on BSE
Source: Accord Fintech
2024-03-06 10:30:36 am
Infibeam Avenues zooms on getting RBI`s final authorization to operate as Payment Aggregator Infibeam Avenues is currently trading at Rs. 37.00, up by 1.90 points or 5.41% from its previous closing of Rs. 35.10 on the BSE. The scrip opened at Rs. 36.79 and has touched a high and low of Rs. 38.45 and Rs. 36.55 respectively. So far 6400226 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 40.00 on 01-Feb-2024 and a 52 week low of Rs. 12.85 on 28-Mar-2023. Last one week high and low of the scrip stood at Rs....
Infibeam Avenues zooms on getting RBI`s final authorization to operate as Payment Aggregator
Infibeam Avenues zooms on getting RBI`s final authorization to operate as Payment Aggregator
Source: Accord Fintech
2024-03-05 10:59:53 am
Interoperable payment system for Net banking to be launched this year: RBI chief RBI Governor Shaktikanta Das on Monday said that the interoperable payment system for internet banking is expected to be launched this year to facilitate quicker settlement of funds for merchants. He said that the RBI has given its approval for implementing such an interoperable system to NPCI BharatBill Pay Ltd (NBBL) and the measure will further boost user confidence in Digital Payments. Addressing the Digital Payments Awareness Week here, Das said, “Internet Banking is one of t...
Interoperable payment system for Net banking to be launched this year: RBI chief
Interoperable payment system for Net banking to be launched this year: RBI chief
Source: IANS
2024-03-04 06:07:38 pm
PPBL demonstrates efficient resolution of customer issues within days In the ever-evolving financial sector, Paytm Payments Bank Ltd. (PPBL) has shown a noteworthy commitment to customer satisfaction through the swift resolution of customer complaints. During the fiscal year that ended on March 31, 2023, PPBL encountered a notable increase in customer complaints, receiving 66,751 complaints compared to 26,692 the previous year. Despite the spike, the majority of these complaints, particularly the 39,000 related to internet and mobile banking, along with 8...
PPBL demonstrates efficient resolution of customer issues within days
PPBL demonstrates efficient resolution of customer issues within days
Source: IANS
2024-02-29 01:52:22 pm
Indian finance minister asks central bank, fintechs to hold monthly meetings in wake of Paytm India's finance minister has asked the Reserve Bank of India to hold monthly meetings with fintech firms to address their regulatory concerns, the ministry said in a statement, following a crisis at Paytm Payments Bank triggered by a central bank order. Finance Minister Nirmala Sitharaman met representatives from the fintech industry on Monday to hear their concerns in the wake of the central bank's order to Paytm Payments Bank to stop accepting fresh deposits in its account or pop...
Indian finance minister asks central bank, fintechs to hold monthly meetings in wake of Paytm
Indian finance minister asks central bank, fintechs to hold monthly meetings in wake of Paytm
Source: Reuters
2024-02-27 09:10:45 am
PhonePe`s Indus Appstore crosses 1L downloads within 3 days of launch  Indus Appstore, India's revolutionary new Android-based app store from PhonePe, has achieved a significant milestone by surpassing 100,000 downloads in just three days of launch. This remarkable feat underscores the Indian market's eagerness for a localised, inclusive, and developer-empowering alternative to existing app stores. "Reaching over a lakh downloads in just three days confirms that India is ready for a homegrown app store that prioritises the needs of its d...
PhonePe`s Indus Appstore crosses 1L downloads within 3 days of launch
PhonePe`s Indus Appstore crosses 1L downloads within 3 days of launch
Source: IANS
2024-02-26 04:10:57 pm
MobiKwik unveils `Pocket UPI` for payments without linking bank account  Fintech company MobiKwik on Monday introduced a new feature called ‘Pocket UPI’ that enables users to make UPI payments through MobiKwik Wallet without linking their bank account. The company said in a statement that ‘Pocket UPI’ will aid in decluttering bank statements by consolidating all UPI transactions, thereby offering a clearer insight into spending habits. Users can load their Wallet with the amount they need to spend and then top up again as requir...
MobiKwik unveils `Pocket UPI` for payments without linking bank account
MobiKwik unveils `Pocket UPI` for payments without linking bank account
Source: IANS
2024-02-26 02:19:32 pm
Regulations enabled India to be global benchmark in fintech: Razorpay`s Harshil Mathur Regulations in the fintech industry have enabled India to become a global benchmark in fintech and unified payments interface (UPI)-based services are one such example, Harshil Mathur, CEO of full-stack financial services platform Razorpay, said on Monday. Speaking to IANS, Mathur said that regulations have played a crucial role in driving innovation, financial inclusion and co-creating financial literacy. “We firmly believe that regulations in the fintech industry have enabled In...
Regulations enabled India to be global benchmark in fintech: Razorpay`s Harshil Mathur
Regulations enabled India to be global benchmark in fintech: Razorpay`s Harshil Mathur
Source: IANS
2024-02-26 09:36:48 am
Aadhaar, Jan Dhan giving big push to digital India ecosystem: Instamojo`s CEO As the government rapidly adopts and moves forward in its digital journey, D2C (direct-to-consumer) tech company Instamojo's co-founder and CEO Sampad Swain on Sunday said that Aadhaar and Jan Dhan Yojana have given a big push to the whole digital India ecosystem. According to Swain, three different buckets of opportunities got created over the last three-four years. "One is the JAM Trinity (Jan Dhan, Aadhar and Mobile). Second is the availability of affordable credit, and thir...
Aadhaar, Jan Dhan giving big push to digital India ecosystem: Instamojo`s CEO
Aadhaar, Jan Dhan giving big push to digital India ecosystem: Instamojo`s CEO
Source: IANS
2024-02-25 06:16:52 pm
Razorpay surpasses $150 bn in TPV, unveils new payment gateway & AI chatbot  Fintech major Razorpay on Friday announced it has achieved an annualised total payment volume (TPV) of $150 billion, and unveiled several new features including an AI chatbot. The company also launched ‘Payment Gateway 3.0’, making it India’s only payment gateway that solves not just the payment journey but the whole buyer journey. Powered by its proprietary AI engine called ‘AI Nucleus’, the checkout option will help businesses expect more than 30 pe...
Razorpay surpasses $150 bn in TPV, unveils new payment gateway & AI chatbot
Razorpay surpasses $150 bn in TPV, unveils new payment gateway & AI chatbot
Source: IANS
2024-02-23 01:04:12 pm
Merchants across India continue to use Paytm & its pioneering devices One 97 Communications Limited (OCL), that owns financial services major Paytm, has received immense support from the merchant community across the country. In a social media livestream organised by the company, merchants across India, including from Mumbai, Pune, Noida, Hyderabad, Chennai, Ahmedabad and Bengaluru, among other cities, spoke about their Paytm journey. During the live event, merchants expressed satisfaction with Paytm's devices, including QR code scanners, Soundbox tec...
Merchants across India continue to use Paytm & its pioneering devices
Merchants across India continue to use Paytm & its pioneering devices
Source: IANS
2024-02-22 10:41:18 am
DPIs like UPI, Aadhaar to propel India towards $8 trillion economy by 2030  Digital Public Infrastructure (DPIs) like Unified Payments Interface (UPI) and Aadhaar are poised to propel India towards a $8 trillion economy by 2030, helping the country achieve a $1 trillion digital economy target, a Nasscom-led report said on Wednesday. With successful mass adoption and larger economic impact, DPIs are impacting approximately 1.3 billion citizens, covering 97 per cent of India's population. The matured DPIs enabled a value creation of $31.8 billion, equiv...
DPIs like UPI, Aadhaar to propel India towards $8 trillion economy by 2030
DPIs like UPI, Aadhaar to propel India towards $8 trillion economy by 2030
Source: IANS
2024-02-21 12:59:54 pm
India finance ministry to meet fintech startups next week India's finance ministry will hold meetings with the country's fintech startups next week to urge them to comply with regulations and hear their concerns, a source familiar with the matter told Reuters on Tuesday. The meetings come in the wake of the Paytm Payments Bank crisis triggered by the Reserve Bank of India ordering the banking unit of digital payments firm Paytm to wind down operations due to "persistent non-compliances and continued material supervisory con...
India finance ministry to meet fintech startups next week
India finance ministry to meet fintech startups next week
Source: Reuters
2024-02-20 10:58:49 am
One97 Communications surges on partnering with Axis Bank One97 Communications is currently trading at Rs. 358.55, up by 17.05 points or 4.99% from its previous closing of Rs. 341.50 on the BSE. The scrip opened at Rs. 358.55 and has touched a high and low of Rs. 358.55 and Rs. 358.55 respectively. So far 55201 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 998.30 on 20-Oct-2023 and a 52 week low of Rs. 318.35 on 16-Feb-2024. Last one week high and low of the scrip st...
One97 Communications surges on partnering with Axis Bank
One97 Communications surges on partnering with Axis Bank
Source: Accord Fintech
2024-02-19 09:56:53 am
India`s Paytm shares rise 5% after central bank extends unit wind-down date Shares of Indian payments firm Paytm rose 5% on Monday, after the country's central bank granted its banking arm more time to wind down operations and the company partnered with Axis Bank to try to keep some of its popular products running. The stock hit an upper trading limit of 358.35 rupees. The Reserve Bank of India (RBI) on Friday extended the deadline for Paytm Payments Bank to stop accepting fresh deposits in its accounts or wallets to March 15 from Feb. 29. Analysts at Be...
India`s Paytm shares rise 5% after central bank extends unit wind-down date
India`s Paytm shares rise 5% after central bank extends unit wind-down date
Source: Reuters
2024-02-19 09:22:31 am
Shruti Gupta to head Visa`s commercial & money movement solutions in India, South Asia Digital payments giant Visa on Tuesday announced the appointment of Shruti Gupta as Vice President and Head, commercial and money movement solutions (CMS), for India and South Asia. Gupta will head Visa’s business and corporate solutions including commercial solutions, integrated money movement and visa government solutions. Her responsibilities include developing and implementing a multi-year growth strategy in collaboration with the leadership team in India and South Asia, the c...
Shruti Gupta to head Visa`s commercial & money movement solutions in India, South Asia
Shruti Gupta to head Visa`s commercial & money movement solutions in India, South Asia
Source: IANS
2024-02-13 02:22:47 pm
India`s Paytm shares hit record low on fears of customer loss Shares of Indian payments firm Paytm dropped 8.5% to a record low of 386.25 rupees on Tuesday after brokerage Macquarie downgraded the stock, citing the "serious risk of exodus of customers" following the Indian central bank's action against its banking arm. Moving customers from Paytm Payments Bank to other banks by the Feb. 29 deadline set by the Reserve Bank of India is "an arduous task," as it would require customers to submit Know Your Customer (KYC) details ag...
India`s Paytm shares hit record low on fears of customer loss
India`s Paytm shares hit record low on fears of customer loss
Source: Reuters
2024-02-13 10:27:44 am
PhonePe to launch Indus Appstore in New Delhi on Febuary 21  PhonePe is set to launch the Indus Appstore consumer app on February 21 in the capital. The Android-based app store focuses on offering Indians a localised platform that allows them to discover and access apps in 12 regional languages, in addition to English. Indus Appstore transcends the conventional app marketplace. It is built to embody India’s cultural and linguistic diversity, ensuring a seamless, language-centric, and enriched digital experience for every user. The ...
PhonePe to launch Indus Appstore in New Delhi on Febuary 21
PhonePe to launch Indus Appstore in New Delhi on Febuary 21
Source: IANS
2024-02-09 06:01:56 pm
Ex-PhonePe CEO`s startup Paymart to offer `virtual ATM`, partners 5 Indian banks Former PhonePe CEO Amit Narang's fintech startup Paymart on Friday said that it has partnered with five Indian banks to offer its innovative virtual, cardless, and hardware-less cash withdrawal service. Paymart has partnered with five prominent banks, including IDBI Bank, Indian Bank, Jammu & Kashmir Bank, and Karur Vyasa Bank, to roll out this service nationwide. The company is also in advanced discussions with four additional banks for further collaboration. "Our futur...
Ex-PhonePe CEO`s startup Paymart to offer `virtual ATM`, partners 5 Indian banks
Ex-PhonePe CEO`s startup Paymart to offer `virtual ATM`, partners 5 Indian banks
Source: IANS
2024-02-09 05:19:55 pm
India`s Paytm shares jump after reports CEO met RBI, finance minister Shares of Paytm climbed as much as 10% on Wednesday after media reported that the embattled digital payments firm's CEO had met India's finance minister and central bank to try to resolve a regulatory crackdown on its payments bank business. Paytm shares climbed as high as 496.25 rupees but remained far below their level before Jan. 31, when the Reserve Bank of India (RBI) ordered Paytm Payments Bank to stop accepting new deposits in its accounts and its popular digital wallets fro...
India`s Paytm shares jump after reports CEO met RBI, finance minister
India`s Paytm shares jump after reports CEO met RBI, finance minister
Source: Reuters
2024-02-07 10:53:45 am
Fintech platform Juspay acquires LotusPay in all-cash deal  Payments infrastructure company Juspay on Tuesday announced the acquisition of LotusPay in an all-cash deal. The financial details were not disclosed. Juspay provides payments solutions for leading companies in various sectors such as banking, financial services and insurance (BFSI), e-commerce, travel, fintech and airlines, etc. The acquisition, said the company, will strengthen its offerings to the BFSI segment and merchants, with a particular focus on enhancing its recurring pa...
Fintech platform Juspay acquires LotusPay in all-cash deal
Fintech platform Juspay acquires LotusPay in all-cash deal
Source: IANS
2024-02-06 12:03:05 pm
Paytm shares down at lower circuit of 10% Paytm shares are locked in lower circuit of 10 per cent on BSE. The shares were down 10 per cent at lower circuit on BSE. Paytm shares were trading at Rs 438.35 down 10 per cent. One97 Communications Limited (OCL / Paytm / Company) set out the Company’s position and directly addressed rumors in the recent misleading media reports about the Company and its associate, Paytm Payments Bank Limited (PPBL / Bank). The company categorically denied any investigation by the Enforcement ...
Paytm shares down at lower circuit of 10%
Paytm shares down at lower circuit of 10%
Source: IANS
2024-02-05 12:55:19 pm
Paytm stock nosedives after RBI raps payments bank, loses total $2.1 billion Shares of Indian digital payments firm Paytm tumbled to near record lows on Friday after a central bank clampdown on its payments bank continued to weigh on investor sentiment despite the company's attempts to assuage fears of a hit to its business. Paytm shares were at 487.2 rupees, their lowest in more than a year and 48.85 rupees away from the previous record low of 438.35 rupees. The price was the bottom of the exchange-imposed daily trading limit for the second day in a row, leadi...
Paytm stock nosedives after RBI raps payments bank, loses total $2.1 billion
Paytm stock nosedives after RBI raps payments bank, loses total $2.1 billion
Source: Reuters
2024-02-02 10:50:56 am
BharatPe appoints Rohan Khara as new Chief Product Officer Fintech major BharatPe on Thursday announced the appointment of Rohan Khara as the new Chief Product Officer (CPO). Khara will be leading product development and innovation, designing of merchants and consumer products, and user research teams across the BharatPe Group of companies. "My focus as the CPO will not only be to build innovative products that drive immense value for our end users (merchants and consumers), but also balance innovation with fiscal prudence," Khara sai...
BharatPe appoints Rohan Khara as new Chief Product Officer
BharatPe appoints Rohan Khara as new Chief Product Officer
Source: IANS
2024-02-01 03:02:01 pm
One 97 Communications touches lower circuit after RBI halts all transactions of its digital payment unit One97 Communications is currently trading at lower limit of Rs. 608.80, down by 152.20 points or 20.00% from its previous closing of Rs. 761.00 on the BSE. The scrip opened at Rs. 608.80 and has touched a high and low of Rs. 608.80 and Rs. 608.80 respectively. So far 141559 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 998.30 on 20-Oct-2023 and a 52 week low of Rs. 516.00 on 01-Feb-2023. Last one week high and...
One 97 Communications touches lower circuit after RBI halts all transactions of its digital payment unit
One 97 Communications touches lower circuit after RBI halts all transactions of its digital payment unit
Source: Accord Fintech
2024-02-01 11:49:41 am
India`s Paytm shares plunge 20% after RBI orders payments bank unit to stop business Shares of Indian payments firm Paytm tumbled 20% in pre-open trade on Thursday, after a move by the country's financial regulator to halt business at Paytm's payments bank unit sparked fears of hits to the company's profitability and reputation. Paytm's stock fell to a six-week low of 609 rupees. The Reserve Bank of India (RBI) on Wednesday ordered Paytm Payments Bank, an associate of Paytm, to stop accepting fresh deposits in its accounts or popular wallets from March, ...
India`s Paytm shares plunge 20% after RBI orders payments bank unit to stop business
India`s Paytm shares plunge 20% after RBI orders payments bank unit to stop business
Source: Reuters
2024-02-01 09:45:30 am
Infibeam Avenues gains on getting nod to acquire balance 49.50% stake in So Hum Bharat Digital Payments Infibeam Avenues is currently trading at Rs. 27.05, up by 1.43 points or 5.46% from its previous closing of Rs. 25.62 on the BSE. The scrip opened at Rs. 25.94 and has touched a high and low of Rs. 27.25 and Rs. 25.81 respectively. So far 5656937 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 28.19 on 15-Jan-2024 and a 52 week low of Rs. 12.85 on 28-Mar-2023. Last one week high and low of the scrip stood at Rs....
Infibeam Avenues gains on getting nod to acquire balance 49.50% stake in So Hum Bharat Digital Payments
Infibeam Avenues gains on getting nod to acquire balance 49.50% stake in So Hum Bharat Digital Payments
Source: Accord Fintech
2024-01-24 10:13:12 am
PhonePe appoints Ritesh Pai as CEO of its global payments biz Digital payments major PhonePe on Friday announced the appointment of Ritesh Pai as CEO of its International Payments business. Pai earlier worked at President-Products and Solutions at TerraPay and was responsible for launching and implementing payment products and solutions globally. Prior to that, he served as the senior group president and chief digital officer at Yes Bank. “Pai has been an early believer and staunch supporter of the company and was very instrumental in our...
PhonePe appoints Ritesh Pai as CEO of its global payments biz
PhonePe appoints Ritesh Pai as CEO of its global payments biz
Source: Accord Fintech
2024-01-05 02:49:30 pm
Digital payments see huge surge in Ayodhya as city prepares for Ram Temple As the city prepares to welcome thousands of guests for the consecration ceremony of Ram Temple next month, real-time unified payments interface (UPI)-based digital payments have made life super easy for local vendors from all walks of lives here. From boatmen on the banks of the Sarayu river to flower/prasad sellers at Hanuman Garhi, QR-code based payments have witnessed a meteoric rise in recent months. “Digital payments have made my life easy as there is no running around for c...
Digital payments see huge surge in Ayodhya as city prepares for Ram Temple
Digital payments see huge surge in Ayodhya as city prepares for Ram Temple
Source: IANS
2023-12-22 02:35:26 pm
Add SBI Cards and Payment Services Ltd For Target Rs.900 - YES Securities Credit cost normalization elusive Largely in-line numbers SBI Cards delivered an in-line NII, PPOP and PAT in Q2 FY24, and the performance was characterized by 1) steady card addition and CIF growth (up 3% qoq/20% yoy), 2) sustained strong growth in Retail spends (up 5% qoq/20% yoy), 3) jump in Corporate spends (up 14% qoq/55% yoy), 4) healthy fee income growth (up 4% qoq/23% yoy), 5) an expected NIM decline (14 bps decline in portfolio yield), 6) controlled opex growth (cost/income was...
Add SBI Cards and Payment Services Ltd For Target Rs.900 - YES Securities
Add SBI Cards and Payment Services Ltd For Target Rs.900 - YES Securities
Source: Yes Securities Ltd
2023-11-07 12:12:19 pm
Hold SBI Cards and Payment Services Ltd For Target Rs.865 - Emkay Global Financial SBI Cards (SBIC) reported in-line, albeit relatively moderate, PAT at Rs6bn/ROA at 4.9%, as asset quality continues to hurt, leading to elevated write-offs. Company indicates that it is keeping close track of its portfolio, while taking corrective measures to limit incremental stress. SBIC lost some market share in CIF/spends at 19.2%/17.9% in 1H from 19.7%/18.2% as of FY23, possibly due to devaluation of the high-selling cashback card. Gross receivables growth too was modest, at 20% YoY, due...
Hold SBI Cards and Payment Services Ltd For Target Rs.865 - Emkay Global Financial
Hold SBI Cards and Payment Services Ltd For Target Rs.865 - Emkay Global Financial
Source: Emkay Global Financial Services
2023-11-02 11:07:51 am
WhatsApp adds rival in-app payment options in India commerce push WhatsApp said on Wednesday that it will offer credit card payments and services from rival digital payment providers within its app in India, the latest bet by the Meta-owned service to boost commerce offerings in its biggest market.WhatsApp has more than 500 million users in India, though regulators there have capped its in-app WhatsApp Pay service to only 100 million people. People shopping on WhatsApp could also pay using popular services like Alphabet Inc's Google Pay, Paytm and Walmart's...
WhatsApp adds rival in-app payment options in India commerce push
WhatsApp adds rival in-app payment options in India commerce push
Source: Reuters
2023-09-20 11:26:23am