Payments - NewNerve

InCred’s Stellar FY24 Performance: Revenue Soars, Profits Explode

10Jun

By AnkitNo Comments

BFSI, Payments, Wealthtech

InCred’s Stellar FY24 Performance: Revenue Soars, Profits Explode

InCred, the fintech unicorn, has announced impressive financial results for FY24, showcasing significant growth across all key metrics. Revenue Breakdown: InCred's revenue primarily comes from interest received on loan disbursements, accounting for 94% of its total operating revenue. This indicates that InCred's core business is lending, and they're doing it very effectively. The remaining 6% of revenue comes from fees, commissions, and dividends. This suggests that InCred is diversifying its revenue streams beyond just loan interest. Revenue Growth: InCred's revenue surged to Rs 1,267 crore in FY24, marking a remarkable 48% increase from Rs 856 crore in FY23. This impressive growth follows a 2.6X jump in revenue from FY22, where the company recorded Rs 488 crore. ...

Crypto in India: Exchanges, Regulations, Taxation and the Road Ahead

6Jun

By AnkitNo Comments

Payments, Cryptocurrency, Technology

Crypto in India: Exchanges, Regulations, Taxation and the Road Ahead

India's relationship with cryptocurrency has been a rollercoaster ride, marked by uncertainty, regulation, and, ultimately, a growing interest in the space. While the government has taken a cautious approach, the demand for crypto services, especially exchanges, continues to rise. This blog delves into the world of cryptocurrency exchanges in India, exploring their role, the current regulatory landscape, and what the future holds for this burgeoning sector. We'll also take a deeper dive into the taxation rules surrounding cryptocurrency in India. The Rise of Indian Crypto Exchanges: Crypto exchanges act as platforms where users can buy, sell, and trade cryptocurrencies. They provide a secure environment for transactions, offering various features like: Trading Pairs: Exchanges of...

Visa’s New Feature: One Card, Multiple Payment Options for UAE Consumers

2Jun

By AnkitNo Comments

Fintech, Global BFSI, Payments

Visa’s New Feature: One Card, Multiple Payment Options for UAE Consumers

Visa is set to revolutionize the payment experience for consumers in the UAE and the Gulf region with its new "Visa Flex Credential" feature. This innovative solution combines credit and debit card functionalities into a single card, offering users unprecedented flexibility and convenience. The Power of Choice at Your Fingertips The "Visa Flex Credential" allows cardholders to toggle between different payment options for each transaction. Whether it's paying with credit or debit, opting for installments, or even settling in a different currency, users can choose the most suitable method for their needs. This eliminates the need to carry multiple cards, streamlining the payment process and simplifying everyday transactions. Personalized Payment Preferences The fe...

Cred CaseStudy: A Deep Dive into its Business Model and Growth

29May

By AnkitNo Comments

Blog, Fintech, Payments, Review

Cred CaseStudy: A Deep Dive into its Business Model and Growth

Cred, a relatively new player in the Indian fintech scene, has quickly gained traction by targeting a specific niche: credit card users. This platform, known for its unique rewards system and exclusive experiences, is disrupting the way Indians manage their credit card spending and rewards. Company Overview: Founded: 2018 Headquarters: Bangalore, India Valuation: $2.2 Billion (as of 2023) [Source: Economic Times, Livemint] Employees: 500+ [Source: Cred website] Main Products: Cred App: A mobile app that allows users to: Track their credit card spending and rewards Earn and redeem points for exclusive experiences and rewards Access curated content and lifestyle benefits Pay their credit card bills Cred Store: An online marketplace offering exclu...

PhonePe: A Case Study in Fintech Success – Analyzing its Financial and Business Strategies, 2024

29May

By Ankit1 Comment

Fintech, Blog, Payments, Review

PhonePe: A Case Study in Fintech Success – Analyzing its Financial and Business Strategies, 2024

PhonePe has become synonymous with digital payments in India, transforming the way people shop, pay bills, and manage their finances. This homegrown fintech giant has revolutionized the Indian payments landscape, offering a convenient, secure, and user-friendly platform for millions of users. Company Overview: Founded: 2015 Headquarters: Bangalore, India Valuation: $12 Billion (as of 2023) Employees: 1000+ Main Products: PhonePe App: A comprehensive mobile wallet and payments app offering a wide range of features, including: Peer-to-peer (P2P) payments Bill payments (electricity, mobile, DTH, etc.) Merchant payments UPI-based payments Recharge and bill payments Insurance and financial services Investments and mutual funds PhonePe Busin...

Paytm’s Pivot: Job Cuts and a Focus on UPI to Navigate the Crisis

27May

By Ankit2 Comments

Fintech, Payments

Paytm’s Pivot: Job Cuts and a Focus on UPI to Navigate the Crisis

In the face of escalating losses, Paytm's parent company One97 Communications is taking decisive action to streamline its operations and chart a path towards recovery. In an effort to mitigate escalating losses, the company's parent, One97 Communications, is implementing significant cost-cutting measures. These include a potential reduction of 15-20% of its workforce, translating to a loss of 5,000-6,300 employees. This move aims to save approximately Rs 400-500 crore. The company's employee costs have risen considerably, with a 34% surge in FY23, reaching Rs 3,124 crore. This increase pushed the average cost per employee to Rs 10.6 lakh, up from Rs 7.87 lakh in the previous year. The cost-cutting initiative has already begun, with reports indicating that over 1,000 employees were...

Bharat Bill Payment System (BBPS)- Basic Transaction Flow and Payment Architecture

23May

By AnkitNo Comments

Payments, Fintech, Technology

Bharat Bill Payment System (BBPS)- Basic Transaction Flow and Payment Architecture

Here's a breakdown of a basic transaction flow and payment architecture for an app providing Bharat Bill Payment System (BBPS) services: 1. User Interface (UI): User Login/Registration: The user logs in or registers on the app, providing necessary details. Bill Selection: The user selects the bill category (electricity, gas, water, etc.), biller (specific company), and enters the bill payment details (account number, customer ID, etc.). Bill Amount Display: The app retrieves the bill amount from the biller's system and displays it to the user. Payment Method Selection: The user chooses their preferred payment method (UPI, debit card, credit card, net banking, etc.). Payment Confirmation: The user reviews the payment details and confirms the transaction. 2. Payment Proc...

Financial Viability of UPI Services: Seeking Regulatory Solutions

21May

By AnkitNo Comments

Blog, Payments, Review

Financial Viability of UPI Services: Seeking Regulatory Solutions

The impact of charging for UPI transactions in India is a topic of significant interest. Let’s explore this based on recent articles and reports: Unified Payment Interface (UPI) Revolution: The Unified Payment Interface (UPI), launched by the National Payments Corporation of India (NPCI) in 2016, has revolutionized digital payments in India. UPI enables citizens to transfer money from one bank account to another instantly. India leads globally in terms of real-time payment transactions, with 48.6 billion transactions processed in 2021. Since its inception in April 2016, UPI has saved the Indian economy approximately $67 billion. Notably, UPI transactions have seen tremendous growth, with 9.41 billion transactions, worth INR 14.89 lakh crore ($181 billion), processed in May 2023 alon...

UPI Duopoly: NPCI Faces Dilemma as Deadline Looms

8May

By Ankit1 Comment

Fintech, BFSI, Payments

UPI Duopoly: NPCI Faces Dilemma as Deadline Looms

The Unified Payments Interface (UPI) has revolutionized digital payments in India, but a UPI duopoly is emerging with PhonePe and Google Pay dominating the market. The National Payments Corporation of India (NPCI), the governing body of UPI, is considering extending the market cap deadline to address concerns about anti-competitive practices. UPI Duopoly Problem Currently, PhonePe and Google Pay account for over 80% of UPI transactions, leaving little room for other players. This raises concerns about reduced competition, innovation, and consumer choice. The NPCI's market cap deadline of 30% for third-party apps (TPAs) was intended to address this issue. Let's delve deeper into the issues and explore potential solutions: Challenges: Reduced Competition: The dominance of PhoneP...

Top Cross-Border Payment Companies (Global): Navigating the Landscape of Providers

7May

By Ankit1 Comment

Payments, Blog

Top Cross-Border Payment Companies (Global): Navigating the Landscape of Providers

Cross-border payments have become increasingly vital in today's interconnected world, where businesses and individuals need to transfer funds across different countries efficiently and securely. With the rise of e-commerce and global trade, the demand for reliable cross-border payment solutions has grown significantly. In this article, we will explore and discuss some of the top cross-border payment companies that are shaping the global payments landscape. PayPal: PayPal is a household name in the world of digital payments. With its extensive global reach and user-friendly interface, PayPal enables individuals and businesses to send and receive money across borders seamlessly. Users can link their bank accounts, credit cards, or use their PayPal balance to conduct transactions. The c...