Friday, November 22

Payments

payments

Banking Trojans: The Malware Undercover Agents
Banking, Fintech, Payments

Banking Trojans: The Malware Undercover Agents

In the ever-evolving landscape of cybersecurity, banking trojans stand out as a formidable adversary. These malicious programs, often disguised as legitimate software, infiltrate systems with the intent to steal sensitive information, particularly from online banking users. In this article, we delve into the world of trojans, exploring their origins, tactics, and the ongoing battle to defend against them. What Is a Trojan? A trojan is a type of malware that masquerades as a benign or useful program. Just like the legendary Trojan horse from ancient Greek mythology, these digital counterparts deceive users by appearing harmless while harboring malicious intent. Banking trojan, in particular, follow this pattern—they pose as something beneficial but have a hidden agenda. ...
FinTech Funding Surge: March Records $591 Million in Investments”
Banking, Finance, Fintech, Payments, Startups

FinTech Funding Surge: March Records $591 Million in Investments”

The FinTech sector is buzzing with excitement as the month of March draws to a close. After a relatively quiet period, funding has surged, and investors are placing their bets on promising startups. Let’s dive into the numbers and explore the recent developments in the world of financial technology. A Remarkable Rise in Investments The last month of the new calendar year witnessed a significant rise in investments for the FinTech sector, compared to the previous few months. According to data collated by 1Lattice, FinTech funding experienced an uptick in March, recording an impressive $591 million from 16 funding rounds. This substantial increase comes after a comparatively modest $250.25 millionraised from 13 rounds in the previous month. Key Players and Noteworthy Rou...
Detailed Review Of PhonePe Payments App
Fintech, Blog, Payments, Review

Detailed Review Of PhonePe Payments App

Explore Certainly! Here’s a detailed review of the PhonePe payments app: PhonePe UPI, Payment, Recharge is a versatile payments app that offers a wide range of features. Let’s dive into the specifics: Payment Options on PhonePe Payments App: BHIM UPI: PhonePe allows you to use BHIM UPI for seamless money transfers. Credit and Debit Cards: You can link your credit and debit cards to make payments. Wallet: The app supports wallet-based transactions. Utility Bill Payments: Pay your utility bills (electricity, water, gas, etc.) directly through the app. Conveniently recharge your mobile phone. Online Shopping and Food Orders: Make online payments on popular shopping sites like Flipkart, Amazon, and Myntra. Pay for food orders from Zom...
Google Pay App Detailed Review
Blog, Fintech, Payments, Review

Google Pay App Detailed Review

Let’s explore why Google Pay is an excellent choice for consumers in India. Google Pay, formerly known as Google Tez, has evolved into a robust digital payment app with a host of features designed to enhance your financial experience: Send and Receive Money: Simple and Secure: Google Pay allows you to send and receive money effortlessly using a mobile app. Even if the recipient isn’t on Google Pay, you can still transfer funds. Zero Fees: Transactions on Google Pay are fee-free, making it a cost-effective way to handle payments. Audio-Based QR System: Google Pay introduced an innovative feature that uses ultrasonic waves to create one-time codes for secure digital payments1. Utility Bill Payments: Convenience: Pay your utility bills directly through Google Pay. ...
Paytm App Detailed Review
Payments, Blog, Review

Paytm App Detailed Review

Let’s explore why Paytm App is an excellent choice for consumers in India. Paytm, India’s largest digital payment app, offers a plethora of features that make it a go-to platform for various financial needs: Versatility and Convenience: UPI Payments: Paytm App makes it seamless to pay using UPI (Unified Payments Interface). You can transfer money instantly to anyone, anywhere in India. Bill Payments: Pay your utility bills, recharge mobiles, DTH, data cards, and Metro cards—all in one place. Online Shopping: Shop on e-commerce platforms like Flipkart and Uber, and enjoy cashback offers when you pay via Paytm. Paytm App Wallet: Fast and Secure: Load up your Paytm Wallet app for free and make payments at over 21 million stores, websites, and apps. Contactle...
Top 10 Payment Companies in India: A Comprehensive Review
Blog, Fintech, Payments, Review

Top 10 Payment Companies in India: A Comprehensive Review

In recent years, the Indian digital payment landscape has witnessed tremendous growth, driven by a surge in smartphone usage and the government's push towards a cashless economy. With numerous payment companies vying for dominance, it can be challenging to determine which ones offer the best features, seamless payments, and exceptional user experiences. In this blog, we will review the top 10 payment companies in India and analyze their key attributes.   Paytm: Paytm is one of India's leading payment companies, offering a wide range of services, including mobile recharges, bill payments, and peer-to-peer transfers. With a user-friendly interface and robust security measures, Paytm has gained immense popularity. Its extensive merchant network and cashback offers further enha...
Indian FinTech’s Funding Falls by Over 66% in FY24: Navigating the Downturn
Fintech, Digital Lending, Finance, Payments, Startups

Indian FinTech’s Funding Falls by Over 66% in FY24: Navigating the Downturn

In a significant development for the Indian FinTech sector, the financial year 2024 has witnessed a substantial decline in funding for FinTech startups. The Indian FinTech sector, a beacon of innovation and growth, has faced a significant funding slump in the financial year 2024. According to data from Tracxn, the industry witnessed a 66.67% year-on-year decline in funding, managing to raise only $1.5 billion1. This stark downturn compares to the $4.5 billion raised in the previous fiscal year, marking a challenging period for startups in the space. This decline is primarily attributed to a decrease in seed-stage funding. The trend reflects the challenges faced by the industry, including increasing borrowing costs and macroeconomic conditions. Let's delve deeper into the details. De...
RBI Proposes UPI-Based Cash Deposit Facility: No ATM Card Needed
Fintech, Payments

RBI Proposes UPI-Based Cash Deposit Facility: No ATM Card Needed

The Reserve Bank of India (RBI) has taken a significant leap forward by announcing a UPI-based cash deposit facility that eliminates the need for ATM cards when depositing cash. This move aims to enhance customer convenience and streamline the currency handling process at banks. Key Details of UPI-based Facility: UPI-based Convenience: The Unified Payments Interface (UPI) has gained immense popularity in India due to its convenience, speed, and interoperability. It simplifies fund transfers between bank accounts on a mobile platform without requiring traditional banking details such as account numbers and IFSC codes. Cash Deposit Machines (CDMs): These are ATMs that allow direct cash deposits into bank accounts. With the new proposal, individuals can use their UPI instead of needi...
Revolutionizing Digital Payments: RBI’s New Rule on UPI Payments from PPI Wallets via Third-Party Apps and the Impact on Payment Service Providers
Banking, Fintech, Payments

Revolutionizing Digital Payments: RBI’s New Rule on UPI Payments from PPI Wallets via Third-Party Apps and the Impact on Payment Service Providers

A Boost for Paytm and Digital Payments? The Reserve Bank of India (RBI) has recently proposed a new policy that will allow Prepaid Payment Instruments (PPIs) to be linked through third-party UPI applications, enabling PPI wallet holders to make UPI payments more conveniently. This move is expected to enhance customer convenience and boost the adoption of digital payments for small value transactions. Currently, UPI payments from bank accounts can be made using a bank's UPI application or any third-party UPI application. However, PPI wallet holders can only make UPI transactions using the web or mobile application provided by the PPI issuer. By permitting the linking of PPIs through third-party UPI applications, the RBI aims to provide more flexibility to PPI wallet holders in...
Paytm-Backed Pai Platforms Introduces PaiPai Shopping App on ONDC, 2024
Fintech, Payments

Paytm-Backed Pai Platforms Introduces PaiPai Shopping App on ONDC, 2024

Pai Platforms, a company backed by Paytm founder Vijay Shekhar Sharma, has recently launched a shopping app on the Open Network for Digital Commerce (ONDC). The app, named “PaiPai,” aims to provide a seamless shopping experience for users. Here are the key points about this development: ONDC Focus: The government-backed ONDC has become an important focus area for Paytm. The company sees it as the next big opportunity in the e-commerce space. Separation of Businesses from Paytm: Paytm has taken steps to clearly separate its fintech and e-commerce businesses. While Paytm does not own any shares in Pai Platforms, the ‘PaiPai’ app has been developed by the fintech major’s parent entity, One97 Communications. Merchant Sign-Ups: Vijay Shekhar Sharma stated,...