Fintech makes rapid strides with $39-billion funding in 2022: Report
The country has over 9,500 fintech companies operating in the country
Source: business-standard.com
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Shoppers need not stop: Dynamics of in-store payments is being rewritten
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. 'They needn't worry whether the amount has been credited to their account,' says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
Source: rediff.com
Why fintechs are cheering RBI's guideline allowing 5% default loss cover
Earlier, banks and NBFCs could not enter into default loan guarantee arrangements with unregulated lending service providers. Now they can, with judicious and reasonable risk sharing between the two
Source: moneycontrol.com
What Broke ZestMoney – How India's BNPL Poster Child Lost Its Zest
After the annulment of the PhonePe deal, ZestMoney lost its key partnerships and saw the exit of its founders. Can it rise again?
Source: inc42.com
RBI monetary policy: FLDG guidelines to be out soon; banks can issue RuPay Forex card
The RBI has allowed non-bank prepaid payment instruments (PPI) issuers to issue e-RuPi vouchers, currently done by a few banks, in partnership with the NPCI for specific reasons, including payment of hospital bills, etc.
Source: yourstory.com