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PayU India to launch new businesses in bid to become payments hub

Payments processing firm PayU India plans to launch two new businesses—consumer credit and digital banking—and accelerate merchant acquisition as it aims to diversify and become an all-round payments hub, chief executive B. Amrish Rau said. The company plans to process $10 billion in transactions in the year ending March 2018, up from an estimated $5.5 billion this financial year. (more…)

Deals, eWallets, Fintech news, India, p2p/online lending, Payment processors/providers/gateways

December 13, 2016

Folder with the label 2017 on a desk

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10 FinTech Predictions for Asia in 2017

By Henri Arslanian for LTP

In 2016, FinTech went mainstream. So what can we expect for 2017?

Here are some predictions for FinTech in Asia for 2017: (more…)

AI / Machine Learning / Big Data, Bots, China, Deals, Fintech news, Global trends, India, InspirAsia, RegTech

December 13, 2016

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Here’s how fintech will impact emerging markets in 2017

By  for VentureBeat

Mobile payments, digital wallets, and other forms of financial technology (fintech) have seen widespread adoption in the West, but fintech has a whole new meaning for the developing world. (more…)

Analytics, China, Fintech news, Global trends, India, RegTech

December 13, 2016

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Light at the end of the tunnel: here’s the multiplier effect of going cashless

By  for TechInAsia

Long before demonetization and a scramble to find alternatives to cash, India had laid out a unique tech infrastructure for a digital economy. Its cornerstones were a unique biometrics-based Aadhaar ID for every citizen to enable authentication, and a unified payments interface (UPI) to simplify money transfer. (more…)

Banks, Cashless, Fintech news, India, Mobile payments/banking

December 10, 2016

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Global Accelerator Startupbootcamp FinTech Lands in Mumbai, Bangalore and New Delhi to Scout FinTech Talent

By LTP

Startupbootcamp Singapore’s FastTrack program provides innovative early stage FinTech startups the opportunity to pitch and gain exposure to industry leaders throughout the India. (more…)

Fintech news, India, InspirAsia, Singapore

December 8, 2016

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You no longer need internet data to use Paytm services

By  for GadgetsNow

You no longer need a smartphone or internet data to pay through e-wallet app Paytm. The company has just announced that it has expanded its reach to non-internet users, who use feature phones. (more…)

Banks, eWallets, Fintech news, India

December 7, 2016

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195

Cashless India: Seeing the Vision for Financial Inclusion Come True – Part 2

By Dipali Ekbote for LTP

India’s financial ecosystem is undergoing disruptive changes as it extends channels for customer reach. Let us take a look at what are these changes and how they can help achieve India’s financial inclusion goals.

(more…)

eWallets, Fintech news, Global trends, India, Marketing Report

December 6, 2016

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Paytm founder prepares for his next pivot, which could be the biggest yet

By  for TechInAsia

“The last five years were an opportunity for those who were capturing Indian consumers, because people got internet connections with smartphones,” Paytm’s founder and CEO Vijay Shekhar Sharma tells me, his easy chuckles complementing the sunny poolside of a Delhi hotel. “The next five years are an opportunity for companies capturing Indian small and medium businesses (SMEs) as they begin to understand how important smartphones are to their businesses.” (more…)

About, eWallets, Fintech news, India, Interviews, Mobile payments/banking

December 6, 2016

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American Express backs India’s fintech sector, invests in IndiaLends

By  for TechInAsia

American Express’ investment arm has led a US$4 million series A funding in fintech startup IndiaLends, it announced today. (more…)

Deals, Fintech news, Global trends, India, p2p/online lending

December 1, 2016

Money and plant isolated over white.

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These fintech startups step out of incubator with series A funding of $3m each

By  for TechInAsia

“I can’t build a steel factory overnight. But with startups, what is wonderful is that the initial money invested is small, but you can still develop very big ideas.” (more…)

Deals, Fintech news, India

November 30, 2016

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342

India FinTech Awards: The Winners

India is at the beginning of a FinTech revolution with significant rewiring of financial services happening with Aadhar,mobile, UPI among others.The India FinTech Awards (IFTA) 2016 platform, organized by the India Fintech Forum, provided a great opportunity for FinTech firms to showcase their products to a curated audience comprising of investors, bankers, entrepreneurs, media and corporate leaders. (more…)

Fintech news, India

November 30, 2016

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Here’s a tech solution to the killer queues at banks and ATMs in cash-starved India

By

My colleague in Bangalore, Neha, stood for hours at ATMs twice – and failed on both occasions to withdraw cash. Another colleague, Abhilash, was third in the queue after a four-hour wait when the ATM ran out of cash. (more…)

Cashless, Fintech news, India

November 28, 2016

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India gets a new bitcoin mobile app

By  for TechInAsia

India is still reeling under a cash crunch triggered by the government’s sudden demonetization move announced on November 8. Overnight, high-denomination currency – 500-rupee notes and 1000-rupee notes – became illegal and those had to be physically exchanged at banks. (more…)

Cryptocurrencies, eWallets, Fintech news, India, Mobile payments/banking

November 28, 2016

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Airtel Bank opens its doors as India grapples with demonetization crisis

By  for TechInAsia

You know what they say about demonetization in India, right? It marches on. (more…)

Banks, Cashless, Fintech news, India, Mobile payments/banking

November 23, 2016

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Mastercard, Visa poised to reap spoils of India’s war on cash

By PaymentsSource

The world’s largest payment networks will see a surge in transactions and cardholders after the Indian government’s decision this month to remove high-denomination bills from circulation, according to analysts who cover the companies. The two networks have been pushing for this kind of change in India, where a McKinsey & Co. study found that more than 90 percent of transactions are still conducted in cash. (more…)

Cashless, Fintech news, Global trends, India

November 23, 2016

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Alibaba-backed Paytm solves the problem of card payments in India

By  for TechInAsia

Chew on this: 740 million debit or credit cards have been issued in India. Only 700,000 merchants accept card payments. And there are only 1.5 million card-swiping machines – point-of-sale (POS) terminals – in the country. (more…)

Cashless, eWallets, Fintech news, India, POS/mPOS and online acquiring

November 23, 2016

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Indian small business lender Aye Fin raises $10.3 million in funding

By  for TechInAsia

Delhi-based non-banking finance company Aye Finance raised a US$10.3 million in series B round from LGT IV and existing investors SAIF Partners and Accion. The latter two had previously contributed close to US$3 million in December last year. (more…)

Deals, Fintech news, India, p2p/online lending, SME

November 21, 2016

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Paytm and Transmit Security win FT Fintech awards

By  for Financial Times

Winners were chosen from more than 200 entrants across the burgeoning sector (more…)

eWallets, Fintech news, India, Security

November 17, 2016

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Alibaba-backed Paytm is laughing all the way to the bank

By  for TechInAsia

Alibaba-backed mobile ecommerce player Paytm put out an ad on the front pages of newspapers last week congratulating Indian prime minister Narendra Modi for “taking the boldest decision in the financial history of independent India.” Delhi chief minister and Modi rival Arvind Kejriwal blasted the “biggest beneficiary” of the PM’s massive demonetization drive putting up an ad in his praise. But Paytm chief Vijay Shekhar Sharma held his own. (more…)

Cashless, eWallets, Fintech news, India, Mobile payments/banking

November 14, 2016

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The current Indian Currency Demonetization is not a tectonic change by itself, but has the potential to usher in...

By Rajesh Dhuddu for LTP

The Government of India took a bold decision to demonetize INR 500 and INR 1000 notes and replace them with notes of newer denomination and also introduce notes of INR 2000. This herculean initiative, that involves exchange of Rs 14 lakh crores (USD 206 bn) was trending worldwide on the same scale as US election results. The gigantic effort to replace 2203 crore (22 billion) pieces of currency notes will easily make its entry into Guinness Book of records as the biggest exchange that human history has ever seen or will see in the future. (more…)

Cashless, Government activities, India

November 13, 2016

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Alibaba-backed Paytm acqui-hires Shopsity to strengthen O2O offerings

By Sainul Abudheen K for e27

India’s leading mobile payments and commerce platform Paytm has acqui-hired Shopsity, a Delhi-based startup that offers O2O solutions to small retail stores, after it reportedly shut down. (more…)

Deals, eWallets, Fintech news, India, Mobile payments/banking, Payment processors/providers/gateways, SME

November 11, 2016

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This is why is China so interested in investing in India despite a frosty relationship

By Sanjay Bansal for e27

India has always shared a love-hate and mostly frosty relationship with its north-eastern neighbour China. There has been a fair share of bilateral turbulences over the past seven decades over territorial disputes, political support for Pakistan, the influx of cheap Chinese goods in the Indian consumer market, and most recently, the blockade of Brahmaputra river tributary and opposing India’s NSG bid.

However, these issues haven’t deterred the trade relations between the land of elephants and the land of dragons. In fact, it has only blossomed over the last decade. (more…)

About, China, India

November 10, 2016

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Top FinTech Startups That Will Demo at the India FinTech Awards (IFTA)

By LTP

The India FinTech Awards (IFTA) is an initiative to identify some of the best FinTech ideas and showcase them on a national level platform. The Indian FinTech scene is thriving with a plethora of opportunities and it was no surprise that we had so many applicants for the India FinTech Awards (IFTA). (more…)

Fintech news, India

November 9, 2016

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Why India took such a drastic step to go cashless

By  for TechInAsia

Higher denomination currency notes of INR 500 (US$7.5) and INR 1,000 (US$15) are suddenly just pieces of paper from today. The Indian prime minister, Narendra Modi, made the shocking announcement in a speech last evening that these notes stand abolished as of midnight. They are no longer legal tender. (more…)

Cashless, Fintech news, India

November 9, 2016

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Zaggle Chooses MatchMove to Enhance Mobile Wallet Offering in India

By

Zaggle, an Indian digital and analytics company has partnered with Singapore-based fintech company MatchMove, to launch a full-featured prepaid mobile wallet to drive better and faster payment processes in India. (more…)

eWallets, Fintech news, India, Mobile payments/banking

November 7, 2016

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The future of fintech: 3 trends to watch in payments, loans, and mobility

By  for TechInAsia

Fintech is one of the hottest domains in India currently.

Despite the funding squeeze this year after the irrational exuberance of 2015, data from startup-analysis platform Tracxn shows that the sector has attracted US$512 million in funding so far in 2016. This is far lower than the US$1.4 billion invested last year, but the 2015 figure is skewed by Paytm’s mega funding round of US$680 million from Alibaba. (more…)

Deals, eWallets, Fintech news, India, Marketing Report, Mobile payments/banking, p2p/online lending

November 7, 2016

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Singapore fintech snags top Indian bank as client

By Jamie Lee for Business Times

A HOMEGROWN fintech has snagged India’s largest bank has its client, using technology to create spending analyser tools for card customers at the State Bank of India (SBI). (more…)

Banks, Deals, Fintech news, India, Singapore

November 7, 2016

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Indian Bank ICICI Constantly Looking at Blockchain, says CEO

By Samburaj Das for CryptocoinsNews

India’s second biggest private bank by assets, ICICI, is showing plenty of interest in the development of blockchain applications, according to the banking institution’s managing director and chief executive, Chanda Kochhar. (more…)

Banks, Blockchain, Fintech news, India

November 3, 2016

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Why Paris is the new gateway to European markets for startups, after Brexit

By  for TechInAsia

There was a revealing exchange last week between a representative of Startup India and a French tech delegation that was in Bangalore, which brought up differences in attitude between the two ecosystems. It was a roundtable discussion at the Nasscom Product Conclave where La French Tech – the French equivalent of the Startup India initiative – wanted to let Indian startups know how to get a ticket to Paris for incubation and access to European markets. (more…)

About, Government activities, India

November 2, 2016

Paytm Founder and CEO Vijay Shekhar Sharma (L) with Mark Schwartz

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Mark Schwartz who played a major role in Alibaba’s US$25 billion IPO joins Paytm’s Board

By Sainul Abudheen K for e27

Mark Schwartz is currently Vice Chairman of the Goldman Sachs Group and Chairman of Goldman Sachs in Asia-Pacific (more…)

About, India, news

October 24, 2016