Payments - NewNerve

Trust Fintech IPO Subscribed Over 11 Times on Day 2; GMP Surges, Last Day to Apply

28Mar

By AnkitNo Comments

Payments, Fintech

Trust Fintech IPO Subscribed Over 11 Times on Day 2; GMP Surges, Last Day to Apply

In a remarkable show of investor interest, the Trust Fintech IPO, a small and medium-sized enterprise (SME) offering, witnessed a subscription rate of over 11 times on the second day of the subscription period. With today marking the last day to apply, the IPO has garnered significant attention from the investing community. Impressive Retail Investor Participation Retail investors displayed tremendous enthusiasm for the Trust Fintech IPO, as the portion reserved for them was subscribed a remarkable 18.44 times on the first day of the subscription period. This strong participation signifies the confidence retail investors have in Trust Fintech's growth potential. Subscription Details and Allocation Breakdown The subscription data reveals a robust response from different investor categor...

Fintech’s Global Payment Domination Race, 2024

27Mar

By Ankit1 Comment

Fintech, Payments

Fintech’s Global Payment Domination Race, 2024

In the ever-evolving landscape of financial technology (fintech), global payments have emerged as a lucrative market. Startups and established players alike are vying for a slice of this pie, driven by the increasing demand for cross-border transactions. Let’s delve into how fintech companies are positioning themselves to tap into this opportunity. The Rush for PA-CB Licenses The Players: Domestic payment aggregators like Razorpay and Cashfree are leading the charge. Newer entrants such as PayGlocal and Skydo are also in the race. The Licence: To offer international payment services, both existing players and newcomers must apply for a payment aggregator-cross border (PA-CB) licence from the Reserve Bank of India (RBI). The deadline for applications is April 30. The Opportunity...

Safeguard Your Digital Transactions using 8 Simple Techniques

27Mar

By AnkitNo Comments

Banking, Fintech, Payments

Safeguard Your Digital Transactions using 8 Simple Techniques

Safer Ways to Conduct Digital Transactions In an increasingly digital world, secure online transactions are essential to protect your financial information and personal data. Whether you’re shopping online, paying bills, or transferring money, following best practices ensures a safer experience. Here are some crucial steps to enhance the security of your digital transactions: 1. Use Unique Passwords Why? A strong password is your first line of defense against unauthorized access. What to Do: Create unique passwords for each online account. Avoid using easily guessable information like birthdays or common words. Combine uppercase and lowercase letters, numbers, and special characters. Consider using a reliable password manager to securely store your passwords. ...

International Transactions on Credit Card: 2 simple ways to Disable it

27Mar

By Ankit2 Comments

Banking, Payments

International Transactions on Credit Card: 2 simple ways to Disable it

In today’s interconnected world, credit cards and digital transactions have become an essential part of our financial lives. They offer convenience, security, and flexibility. However, with the increasing prevalence of online transactions and global travel, it’s crucial to understand the risks associated with international credit card usage. In this article, we’ll delve into why international transactions pose a higher risk and explore steps to safeguard your finances by disabling them. Why Is the Risk Higher on International Transactions? Lack of 2-Factor Authentication (2FA): In India, domestic credit card transactions require 2-factor authentication (2FA). This means that both a PIN (for point-of-sale transactions) and an OTP (for online transactions) are necessary for adde...

Axis Bank Credit Card Fraud: 5 Actions to Take Immediately

27Mar

By Ankit1 Comment

Payments, Banking

Axis Bank Credit Card Fraud: 5 Actions to Take Immediately

The recent Axis Bank credit card fraud fiasco has left many customers in India concerned and vulnerable to fraudulent international transactions. It is crucial for affected individuals to take immediate action to safeguard their financial interests and protect themselves from further harm. This article aims to provide an overview of the situation and offer guidance on the necessary steps to mitigate the risks associated with this incident. Understanding the Axis Bank Credit Card Fraud: Axis Bank, one of India's leading financial institutions, recently faced a significant security breach resulting in fraudulent international transactions on some of its customers' credit cards. This incident has raised concerns among the affected individuals, as unauthorized transactions can have severe fi...

CBDC’s Programmability: Revolutionizing Digital Transactions and Governance

27Mar

By Ankit2 Comments

Payments

CBDC’s Programmability: Revolutionizing Digital Transactions and Governance

Central Bank Digital Currency (CBDC) has emerged as a transformative force in the financial landscape, with experts predicting that its programmability feature will turbocharge its impact. In a recent episode of FinTech Diary, industry leaders discussed the potential of CBDC, its current initiatives, and the journey of India's CBDC pilot projects. This article explores the key insights shared by these experts and highlights the significance of CBDC's programmability in revolutionizing the way we transact and govern financial transactions. Exploring CBDC's Potential and Scope: CBDC, often referred to as digital cash, operates outside traditional bank accounts and instead resides in digital wallets. Ajay Rajan, Country Head at Yes Bank, emphasizes that CBDC's programmability, offline mode,...

Paytm’s FY25E Revenue Likely to Decline by 24%: Challenges Ahead

27Mar

By Ankit1 Comment

Payments

Paytm’s FY25E Revenue Likely to Decline by 24%: Challenges Ahead

Introduction: In a rapidly evolving digital landscape, Paytm, one of India’s leading digital payment platforms, faces significant headwinds. A recent report by Motilal Oswal Financial Services sheds light on the company’s future prospects, highlighting potential revenue declines and competitive pressures. The Forecast: A 24% Revenue Drop Motilal Oswal estimates that Paytm’s FY25E revenue is expected to decline by a substantial 24%. This projection reflects the challenges the company is currently grappling with. Let’s delve into the key factors contributing to this anticipated decline: Business Transition: Paytm is undergoing a significant business transition. As it diversifies its offerings beyond payments, it faces the delicate task of retaining existing cus...

26Mar

By Ankit1 Comment

Fintech, Payments

Trust Bank Empowers Customers with AutoPay for Hassle-Free Credit Card Repayments

Trust Bank, Singapore's digital bank, has rolled out AutoPay, a new feature aimed at simplifying credit card repayments for its users. This development allows Trust Bank customers to set up automatic repayments for their credit cards with just a few clicks, provided they have a savings account. Introducing Trust Bank's AutoPay Feature Trust Bank's AutoPay feature offers a straightforward setup process. Customers who have a Trust credit card and savings account can activate AutoPay in a matter of seconds. Even those without a savings account can open one quickly, with an account opening experience that takes approximately one minute. Benefits for Savings Account Holders: Interest Rates and Insurance Coverage In addition to the convenience of automatic repayments, Trust Bank's savings ac...

Digital Wallet Dominance: 58% India’s E-Commerce Revolution Driven by Mobile Wallets

24Mar

By Ankit2 Comments

Fintech, Payments

Digital Wallet Dominance: 58% India’s E-Commerce Revolution Driven by Mobile Wallets

India’s e-commerce landscape is undergoing a significant transformation, with alternative payment methods now commanding a substantial 58% share of the market in 2023. This shift, driven by the widespread adoption of mobile and digital wallets, marks a profound change in consumer preferences and transactional behavior. The Changing Face of Indian E-Commerce: The Rise of Alternative Payments Mobile Wallets: Brands like Amazon Pay and Google Pay have gained prominence as alternative payment solutions among Indian consumers. Decline of Cash: Traditional cash payments, prevalent in in-store retail, have witnessed a sharp decline in online purchases, capturing only a 6.2% share of the market. Payment Cards Remain Relevant Credit and Charge Cards: Payment...

Why Credit on UPI Struggles to Gain Momentum: Unveiling the Challenges

20Mar

By Ankit2 Comments

Fintech, Payments

Why Credit on UPI Struggles to Gain Momentum: Unveiling the Challenges

Despite the initial promise, credit transactions on the Unified Payments Interface (UPI) have not gained significant traction. The slow adoption can be attributed to several key factors outlined in a recent article. Understanding Why Credit on UPI Lags Behind: One major obstacle is the absence of a defined interchange fee structure for credit on UPI. This lack of clarity creates uncertainty among banks and hinders their willingness to participate fully. Additionally, concerns about possible cannibalization of credit card balances by larger banks have further impeded widespread acceptance. Another deterrent is the imposition of fees, such as the merchant discount rate (MDR), on merchants for credit transactions. Many merchants, accustomed to free UPI payments through bank accounts, sho...