India
🐘India🇮🇳: The fintech Wise🇬🇧 receives Central Bank approval as a cross-border payment aggregator to operate in the export sector Paid Members Public
🐘India🇮🇳: The fintech Wise🇬🇧 receives Central Bank approval as a cross-border payment aggregator to operate in the export sector Currently, the company manages around 10% of cross-border transfers. ➡️With the authorization to offer international accounts, freelancers and export businesses in India will be able to receive payments from abroad in
🐘 India🇮🇳: key statistics on UPI’s growth, surpassing all competitors Paid Members Public
🐘 India🇮🇳: key statistics on UPI’s growth, surpassing all competitors In just nine years since its launch, the Unified Payments Interface (UPI) surpassed Visa and became the largest real-time payment system in the world, both in number of transactions and total volume. ➡️ Currently, India accounts for almost half of all
🐘India🇮🇳: PayPal receives preliminary approval to operate as a cross-border payment aggregator Paid Members Public
🐘India🇮🇳: PayPal receives preliminary approval to operate as a cross-border payment aggregator The company has operated in India for more than 10 years, and until now functioned under the license of Online Payment Gateway Service Provider (OPGSP). However, starting from October 2024, payment aggregators require specific authorization from the Reserve
🐘 India 🇮🇳 overtakes China 🇨🇳 to become Asia's leading fintech market by deal volume Paid Members Public
🐘 India 🇮🇳 overtakes China 🇨🇳 to become Asia's leading fintech market by deal volume A standout case is Cashfree, an Indian payments startup that processes over $80 billion USD in transactions annually. This quarter, the company closed one of Asia’s largest fintech deals, securing $53 million USD in a
🐘 India 🇮🇳: The Central Bank (RBI) launches a special app to test new fintech products Paid Members Public
🐘 India 🇮🇳: The Central Bank (RBI) launches a special app to test new fintech products The app, named "Theme Neutral," has been developed within the Regulatory Sandbox (RS) framework to enable more effective engagement with developers and industry stakeholders. 🟡 The concept of a "theme-neutral" platform reflects the
🐘 India 🇮🇳: Revolut receives approval from the Central Bank (RBI) to launch payment interfaces and digital wallets Paid Members Public
🐘 India 🇮🇳: Revolut receives approval from the Central Bank (RBI) to launch payment interfaces and digital wallets A year ago, the British-Lithuanian fintech giant obtained preliminary approval, which has now been confirmed as final. ➡️ Previously: The PPI (Prepaid Payment Instrument) license allowed it to operate as a Category II authorized forex
🎉 India🇮🇳: Axis Bank partners with JP Morgan🇺🇸 to launch 24/7 cross-border blockchain payments Paid Members Public
🎉 India🇮🇳: Axis Bank partners with JP Morgan🇺🇸 to launch 24/7 cross-border blockchain payments Private bank Axis becomes the first financial institution in India to offer commercial clients programmable USD settlement almost in real time. 🔣 This innovative solution is powered by Kinexys Digital Payments (formerly known as JPM Coin), JP
🐘 India 🇮🇳: Regulator considers the return of debit fees Paid Members Public
🐘 India 🇮🇳: Regulator considers the return of debit fees Three years ago, commercial fees for transactions with UPI (Unified Payments Interface) and RuPay debit cards were eliminated to encourage digital payments. However, UPI now dominates the market and banks and payment providers have lost a key source of revenue. ➡️ Until 2022,