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UPI and IoT will expand Indian fintech to $1.3 trillion market
While India‘s unified payments interface (UPI) remains a major contributor, customers are also increasingly adopting the buy-now-pay-later model for payments. The latter facilitates small-ticket credit-based transactions and is currently estimated at Rs36,300 crore. It may reach Rs3.19 lakh crore by the end of 2025-26.
LendIt Fintech hosts India - The World's 'Fintech Lab' session
To drive deeper and insightful conversations on the Indian Fintech ecosystem, US based LendIt Fintech hosted a session on India: The World's 'Fintech Lab' moderated by LendIt Fintech's Chief Product Officer, Todd Anderson and attended by industry stalwarts - Mandar Agashe, Founder, Sarvatra Technologies, Varun Malhotra, Partner, Quona and Sathish N, Chief Product Officer at Zaggle.
Protecting UPI, a jewel among Indian fintech innovations
In March 2022, the Reserve Bank of India made a revolutionary leap in India’s payments ecosystem, launching a version of UPI which can be used on feature-phones. The move will be an influential way forward for bolstering financial inclusion, and bringing more than 40 crore feature phone users into the fold of digital-payments.
Web 3.0, SaaS and fintech will be big focus areas for 2022
According to the report, over seven out of ten respondents, or 67 per cent, believe that Web 3.0 will be something to watch out for. Six out of ten respondents believe SaaS will be a strong performer this year, and five respondents expect big things from the financial industry.
Fintech has spread far and wide in India, banks need a counterattack
Visit a mid-sized store in an Indian city, and you’d wonder if it exists to make any money. It might just as well be there to process transactions for half-a-dozen payment apps: PhonePe, Paytm, Google Pay, BharatPe, Amazon Pay and MobiKwik. A third of India’s 60 million-plus small businesses are using an average of four different platforms, according to Raman Khanduja, the chief executive officer of Mintoak, a Mumbai-based fintech.
CarDekho launches specialized fintech platform Rupyy
Auto-tech company CarDekho has introduced Rupyy, a specialized fintech platform to offer financing options to automobile customers and retailers. CarDekho Financial Services business will be transformed and merged under this new brand, the company said.
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