Friday, October 4

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Revolut Gears Up for Major Expansion into India’s Fintech Market
Fintech

Revolut Gears Up for Major Expansion into India’s Fintech Market

British fintech company Revolut is set to launch its services in India in 2025, marking a significant expansion into one of the world's largest and fastest-growing markets. This announcement comes after a series of regulatory hurdles that the company faced since establishing its presence in India in 2021. Regulatory Milestones Revolut has recently secured in-principle approval from the Reserve Bank of India (RBI) to issue prepaid cards and wallets, a crucial step for its operational launch. This approval allows Revolut to move forward with its plans to provide a suite of financial services tailored to Indian consumers. Paroma Chatterjee, CEO of Revolut India, noted that the company is "very, very close" to launching, with only minor technical issues remaining to be resolved. Targeting A...
BRISKPE: Transforming Cross-Border Payments for Indian Businesses
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BRISKPE: Transforming Cross-Border Payments for Indian Businesses

In an increasingly globalized economy, the ability to conduct seamless cross-border transactions is crucial for businesses, especially micro, small, and medium enterprises (MSMEs). BRISKPE, a Mumbai-based fintech startup, is emerging as a game-changer in this space, offering innovative solutions that simplify international payments. This article explores how BRISKPE is addressing the challenges of cross-border payments and the impact it is having on Indian exporters and freelancers. The Need for Efficient Cross-Border Payment Solutions For many Indian businesses, particularly MSMEs, navigating the complexities of international payments has historically been fraught with challenges. High transaction fees, long processing times, and fluctuating exchange rates can significantly impact profi...
5 Reasons, Why Can’t UPI Be Used for Cross-Border Payments?
Payments

5 Reasons, Why Can’t UPI Be Used for Cross-Border Payments?

The Unified Payments Interface (UPI) has revolutionized digital payments in India, making transactions faster, cheaper, and more accessible. However, its application for cross-border payments is still in its infancy. This article explores the challenges that UPI faces in becoming a global payment system and the initiatives underway to facilitate its expansion into international markets. Current Challenges for UPI in Cross-Border Payments 1. Transaction Limits One of the primary limitations of UPI is its strict transaction limits. Currently, UPI caps most payments at INR 1 lakh (approximately $1,200). This restriction poses a significant challenge for larger international transactions, which often exceed this amount, particularly in business-to-business (B2B) scenarios. 2. Limited Curre...
Super.Money: Flipkart’s Bold Move into Fintech
Payments

Super.Money: Flipkart’s Bold Move into Fintech

In June 2024, Flipkart, one of India's leading e-commerce giants, launched Super.Money, a fintech platform designed to revolutionize personal finance management in India. With an initial investment of $20 million, Super.Money aims to offer a suite of financial services, including lending, insurtech, and digital payments. This article delves into the various aspects of Super.Money, including its features, business model, pricing strategy, go-to-market approach, and future prospects. 1. Background and Launch 1.1 The Genesis of Super.Money Super.Money is spearheaded by Prakash Sikaria, who has a robust background in leading key projects at Flipkart, including its advertising business and loyalty programs. The platform has been developed over the past ten months, focusing on creating a cred...
Cross-Border Payments: Services, Products, and Trends- A complete Guide
Payments

Cross-Border Payments: Services, Products, and Trends- A complete Guide

The cross-border payments ecosystem is a multifaceted network that facilitates financial transactions between parties located in different countries. This ecosystem is essential for international trade, remittances, and various global financial activities. Below is an expanded explanation of the services and products available within this ecosystem, along with relevant Indian companies categorized by the type of services they offer. Overview of Cross-Border Payment Services and Products 1. Cross-Border Payment Solutions These services enable businesses and individuals to make direct payments across borders. They are crucial for facilitating international trade and e-commerce. Key Features: Speed: Transactions are often processed much faster than traditional banking methods. ...
Booming Indian Fintech Market: A Path to $2.1 Trillion by 2030
Fintech

Booming Indian Fintech Market: A Path to $2.1 Trillion by 2030

India is rapidly emerging as a global fintech powerhouse, with projections estimating the market size to reach $2.1 trillion by 2030. This growth is driven by a combination of technological innovation, favorable demographics, and a surge in digital financial services. The Indian fintech landscape encompasses various segments, including payments, digital lending, insurtech, and wealth tech, each contributing to this remarkable growth trajectory. Current Market Overview As of 2022, the Indian fintech industry was valued at approximately $584 billion, with expectations to grow to around $1.5 trillion by 2025. The total addressable market for fintech is projected to be $1.3 trillion by 2025, with assets under management (AUM) reaching $1 trillion and revenue hitting $200 billion by 2030. Ke...
Revolutionizing Lending: Introducing Vegapay
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Revolutionizing Lending: Introducing Vegapay

As part of my ongoing series highlighting groundbreaking fintech companies, I’m excited to introduce Vegapay, a dynamic fintech startup founded in 2022 by a visionary team including Gaurav Mittal, Himanshu Agrawal, Puneet Sharma, and Abhinav Garg. Headquartered in Gurugram, India, Vegapay is transforming the lending landscape by providing innovative solutions for financial institutions and fintech companies. 🚀 A Game Changer in Fintech Vegapay focuses on delivering a lending tech stack and card management platform that empowers banks, NBFCs, and fintechs to launch flexible card and credit-based products swiftly. With $5.5 million in seed funding led by Elevation Capital, Vegapay is set to democratize access to superior financial technology. 💡 Key Features and Offerings Versatile Ca...
NCMC Technology: A Step Towards Cashless Travel or a Complicated Mess?
Payments

NCMC Technology: A Step Towards Cashless Travel or a Complicated Mess?

The National Common Mobility Card (NCMC) is a transformative initiative launched by the Government of India in 2019 to streamline transit payments and promote cashless transactions across the country. Designed to be a "One Nation, One Card" solution, the NCMC aims to provide seamless access to metros, buses, trains, and even retail outlets using a single contactless card. Key Features of NCMC Interoperability: NCMCs are designed to be used across various transit systems in different cities, unlike city-specific metro cards that are limited to their respective networks. Contactless Transactions: Equipped with Near Field Communication (NFC) technology, NCMCs allow users to make payments by simply tapping the card on a compatible reader, enhancing convenience and security. Offline...
The Escrow Payment Industry in India: A Comprehensive Overview
Payments

The Escrow Payment Industry in India: A Comprehensive Overview

The escrow payment industry in India is witnessing transformative growth, driven by the increasing demand for secure transaction methods across various sectors. As a crucial component of the fintech ecosystem, escrow services are enhancing trust and facilitating smoother transactions. Here’s an in-depth look at the market size, key players, business models, and future outlook for escrow services in India. Market Size The Indian fintech sector is projected to reach approximately $150 billion by 2025, with the escrow payment segment playing a significant role in this expansion. The B2B payments market alone is expected to grow from nearly $8 trillion in FY22 to about $10-11 trillion by FY26, indicating a substantial opportunity for escrow services to facilitate secure transactions. Key Pl...
Stable Money: Is It the Right Choice for Your FD Investments?
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Stable Money: Is It the Right Choice for Your FD Investments?

Stable Money is a fintech company focused on simplifying and enhancing the fixed deposit (FD) experience for Indian investors. They offer a platform that allows users to compare and invest in FDs from various banks, all within a single app. Here's a breakdown of their offerings and what sets them apart: Key Features: High-Interest FDs: Stable Money boasts competitive interest rates on FDs, often surpassing traditional bank offerings. No New Bank Account Needed: Users can invest in FDs without opening a new bank account, streamlining the process. Fast Withdrawals: Stable Money offers same-day, 3-hour withdrawals for Suryoday SF Bank FDs, providing greater flexibility. Wide Selection: The platform aggregates FDs from numerous banks, allowing users to compare and choose the bes...