Fintech - NewNerve

Paytm Doubles Down on Payments and Distribution: A Return to Core Strengths

11Jun

By AnkitNo Comments

Payments, Fintech, Startups

Paytm Doubles Down on Payments and Distribution: A Return to Core Strengths

Paytm, the Indian fintech giant, is making a strategic shift, returning to its core strengths: payments and distribution. The company, which had ventured into various businesses like financial services, e-commerce, and grocery delivery, is now prioritizing its original offerings. This move comes after facing challenges in these newer ventures and a need to streamline operations. Back to Basics: A Strategic Shift Paytm's decision to refocus on its core competencies is a strategic move aimed at achieving greater efficiency and market share. This shift reflects the company's commitment to building a sustainable and profitable business. Here's a breakdown of Paytm's new strategy: Payments: Paytm's payments platform remains a key driver of revenue, encompassing mobile wallets, UPI pay...

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...

Global Fintech Fest 2024: A Blueprint for the Future of Finance

29May

By Ankit1 Comment

Fintech, Events

Global Fintech Fest 2024: A Blueprint for the Future of Finance

The Global Fintech Fest (GFF), an annual event organized by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC), is set to return in 2024 with its fourth edition. This year's theme, "Blueprint for the next decade of finance: Responsible AI, Inclusive, Resilient," highlights the critical role of fintech in shaping a more sustainable and equitable financial future. GFF 2024 promises to be the world's largest fintech conference, attracting over 80,000 attendees across 7 tracks and 11 stages. With over 350 sessions, including keynotes, panel discussions, and fireside chats, the event will feature thought-provoking discussions on the latest trends and innovations in fintech. Key Highlights of Global Fintech Fest (...

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...

Signzy: The Fintech Solution for a Seamless Customer Experience

28May

By Ankit1 Comment

Banking, Blog, Fintech, Review, Startups, Technology

Signzy: The Fintech Solution for a Seamless Customer Experience

Signzy is a leading fintech company revolutionizing the digital onboarding process with its AI-powered automation platform. Their mission is to make onboarding faster, more secure, and more efficient for both businesses and customers. Company Overview: Founded: 2015 Headquarters: Mumbai, India Valuation: $100 Million (as of 2023) Employees: 200+ Main Products: Signzy Onboarding Suite: A comprehensive platform for digital KYC, e-signature, document verification, and identity verification. Signzy API: Enables businesses to integrate Signzy's features directly into their existing systems. Signzy Mobile App: Provides a user-friendly interface for customers to complete onboarding processes on their mobile devices. Strengths: AI-Powered A...

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...

India’s Election Under Siege: 300% Surge in Cyber Attacks

24May

By AnkitNo Comments

Fintech, Insurtech, Lending

India’s Election Under Siege: 300% Surge in Cyber Attacks

As India prepares for its crucial general election, a wave of cyberattacks threatens to disrupt the electoral process. Cybersecurity firm Resecurity has identified a staggering 300% surge in attacks targeting voter data and public opinion, orchestrated by various hacktivist groups exploiting geopolitical tensions. The #OpIndia campaign, launched last year, saw a dramatic increase in cyber activity following the initiation of #OpIsrael, coinciding with heightened online protests related to the Israel-Gaza conflict. With a vast population and growing economy, India has become a prime target for foreign threat actors and nation-state groups. Resecurity's report highlights the importance of safeguarding elections from cyber threats to preserve democratic integrity, particularly in the cu...