Ashneer Grover’s Fintech Leap: ZeroPe Medical Loan App
Ashneer Grover’s latest venture, ZeroPe, is making waves in the fintech sector with its innovative approach to medical loans. The app, currently in its testing phase, has been developed by Third Unicorn, a company founded by Grover post his exit from BharatPe. ZeroPe is set to provide instant pre-approved medical loans of up to ₹5 […]
Neobank Revolut India: PPI License Approval by RBI
Global fintech giant Revolut has received a significant boost for its Indian ambitions. The Reserve Bank of India (RBI) has granted Revolut India in-principle approval to issue Prepaid Payment Instruments (PPI), including prepaid cards and wallets. This approval marks a crucial step for Revolut’s domestic foray, allowing it to offer a broader spectrum of financial […]
Federal Bank Joins NPCI for ‘Flash Pay’ Contactless Payment
Federal Bank, in a strategic alliance with the National Payments Corporation of India (NPCI), has introduced a revolutionary payment solution – ‘Flash Pay’. This innovative offering takes the form of a RuPay smart keychain, empowering users to experience the convenience and security of contactless NCMC (National Common Mobility Card) payments. Effortless Transactions at Your Fingertips […]
Innoviti Payments, Concerto Software Secure RBI Licences
The Reserve Bank of India (RBI) has injected fresh momentum into India’s booming $88.13 billion digital payments arena by granting Payment Aggregator (PA) licences to Innoviti Payments and Concerto Software. This move elevates both companies to the ranks of established players like Razorpay, Cashfree, and Amazon Pay, further intensifying competition and innovation within the sector. […]
PolicyBazaar Expands: Launches PB Pay Private Ltd
PolicyBazaar, a dominant force in India’s online insurance and loan comparison market estimated at ₹18.5 lakh crore in 2023 , is making a bold move to expand its reach. The company recently announced the formation of PB Pay Private Limited, a wholly-owned subsidiary that marks its foray into the realm of payment aggregation services. This […]
PB Fintech Initiates Payment Aggregator Division
In a move set to ripple through the Indian fintech industry, PB Fintech, the company behind insurance comparison platform PolicyBazaar, announced its ambitious entry into the payment aggregator sector on March 20th, 2024. The company will establish a wholly-owned subsidiary named PB Pay Private Limited, signaling its intent to become a one-stop shop for financial […]
Indus PayWear: IndusInd Bank’s Complete Tokenised Wearable
IndusInd Bank has emerged as a frontrunner in the Indian fintech industry with the launch of Indus PayWear, unveiled on March 11, 2024. Indus PayWear represents a groundbreaking innovation – India’s first all-in-one tokenized wearable. This revolutionary technology empowers users to make secure contactless payments using their IndusInd Bank debit or credit cards, eliminating the […]
Slice Parent, North East Bank in CCI-Approved Deal
Landmark Fintech Consolidation Gets Regulatory Greenlight On March 12, 2024, the Competition Commission of India (CCI) granted its approval for the merger between Garagepreneurs Internet Private Limited (GIPL), the parent company of prominent fintech player Slice (valued at over $1 billion in 2021 funding rounds), and North East Small Finance Bank (NESFB). This crucial regulatory […]
Aurionpro Bags ₹100-Crore SBI Contract for iCashpro+ Platform
In a move that underscores Aurionpro’s position as a leading innovator in the Indian fintech industry, the company has secured a monumental ₹100 crore contract from State Bank of India (SBI), the country’s largest banking institution. This multi-year partnership signifies the deployment of Aurionpro’s next-generation cash management platform, iCashpro+, across SBI’s vast network. The implementation […]
RBI Tightens Regulations on P2P Credit Card Transactions
The Reserve Bank of India (RBI) has recently taken strict measures to curb the misuse of credit cards for peer-to-peer (P2P) payments through third-party service providers. This comes after the central bank found instances of customers using credit cards to pay rent and tuition fees via fintech apps that bypass the regulatory norms. The RBI […]