On Wednesday, ET wrote about how fintechs were adding more than 42% of the new investors in mutual funds every month. And this is not unique. Be it wealth management, payments or credit, fintechs are playing an important role in expanding the market and driving adoption everywhere.
Along with Tata Pay, Bengaluru-based identity verification startup DigiO, backed by Groww, has also secured the payment aggregator licence as of January 1.
Negis comments come at a time when BharatPes parent, Resilient Innovations, has filed a fresh case in the Delhi High Court seeking an injunction against Grover to prevent him from divulging “confidential information” related to the company.
After receiving the final status on its application in September this year, Bengaluru-based Instamojo has ceased operations of its payment gateway business, as per regulations, and has onboarded licenced PAs to ensure business continuity for its merchants.