Sunday, March 9

Tag: payments

BharatPe’s Bold Move: Nalin Negi Appointed as CEO
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Fintech, Payments

BharatPe’s Bold Move: Nalin Negi Appointed as CEO

BharatPe, a prominent payments startup, has recently announced the elevation of Nalin Negi as its Chief Executive Officer (CEO). This move comes as a testament to Negi's exceptional leadership skills and his significant contributions to the company since joining as the Chief Financial Officer (CFO) in 2022. Negi had been serving as the interim CEO since January 2023, following the departure of former CEO Suhail Sameer. With this appointment, BharatPe aims to further strengthen its position as India's leading fintech company. Negi's Background and Accomplishments: Before joining BharatPe, Nalin Negi held the position of CFO at SBI Card for over 10 years, where he played a pivotal role in leading the credit card giant towards its successful initial public offering (IPO) in March 2020. With...
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Revolut India: Unlocking New Payment Horizons with RBI’s PPI License
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Banking, Fintech, Payments

Revolut India: Unlocking New Payment Horizons with RBI’s PPI License

In a significant development, Revolut India has secured an in-principle approval from the Reserve Bank of India (RBI) for issuing Prepaid Payment Instruments (PPI). This includes both prepaid cards and prepaid wallets, positioning Revolut as a formidable player in the domestic payments market. Revolut India: Empowering Indian Consumers With this approval, Revolut India gains the ability to operate as a domestic player in the payments ecosystem. But what does this mean for Indian consumers? Let’s delve into the details: International and Domestic Solutions: Revolut India can now offer Indian consumers a comprehensive suite of payment solutions—both international and domestic—all within a single platform. Whether you’re making cross-border transactions or handling loca...
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Paytm App Detailed Review
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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...
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Top 10 Payment Companies in India: A Comprehensive Review
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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...
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350,000 Daily Smishing Attacks: The Silent Threat via SMS
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BFSI, Banking, Payments

350,000 Daily Smishing Attacks: The Silent Threat via SMS

Did you know that SMS click-through rates are a staggering 20%, compared to email’s 3-5%? This disparity has made SMS a prime target for smishing attacks, with an average of 350,000 incidents occurring daily1. But what exactly is smishing, and why are these attacks so prevalent? What Is Smishing? Smishing refers to phishing attacks that utilize SMS as their medium. In these attacks, cybercriminals pose as legitimate organizations and trick people into giving away confidential and sensitive information. The term “smishing” combines “SMS” (short message service) and “phishing.” How Do Smishing Attacks Work? Impersonation: Attackers send fraudulent SMS messages that appear to come from organizations individuals are already associated with, such as their bank, uni...
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Paytm’s FY25E Revenue Likely to Decline by 24%: Challenges Ahead
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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...
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Trust Bank Empowers Customers with AutoPay for Hassle-Free Credit Card Repayments
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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...
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The Evolution of Compliance in Banking and Fintech: A Reflection, 2024
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Fintech, Payments, Regtech

The Evolution of Compliance in Banking and Fintech: A Reflection, 2024

In the dynamic landscape of financial services, compliance has emerged as a cornerstone, ensuring the integrity and stability of banking and fintech operations. The journey, however, has been fraught with lessons, some learned at a high cost. A striking example from 2006 highlights the gravity of compliance: a bank dismissed its entire current account team for opening over 700 accounts using the same template—a practice that was replicated across various banks over the years. As banks embarked on partnerships with fintech companies, the focus on regulatory compliance seemed to wane, overshadowed by business interests. The fintech sector’s vibrancy and innovation made traditional banking institutions appear outdated in comparison. From Template Troubles to Tech Triumphs: The Banking Com...
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PPRO Raises €85m in Funding to Drive Global Payment Expansion and Market Domination
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Fintech, Payments

PPRO Raises €85m in Funding to Drive Global Payment Expansion and Market Domination

PPRO, a leading local payments platform, has successfully secured €85 million ($92.8 million) in funding through a dual-tranche funding round. The investment comes from a mix of new and existing investors, including prominent names like Eurazeo, HPE Growth, and PayPal Ventures. With this infusion of capital, PPRO plans to fuel its growth in key markets and further enhance its global network of local payment methods. This funding round follows PPRO's remarkable performance in 2023, which saw the company achieve record revenue. PPRO's mission is to simplify access to local payment methods, and this funding will enable the company to continue providing seamless payment experiences to customers worldwide. Read More on: Fintech Magazine Also Read: 7 Key Insights from FinTe...
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7 Key Insights from FinTech LIVE Dubai, 2024
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Payments, Events, Fintech

7 Key Insights from FinTech LIVE Dubai, 2024

One notable event that recently took place was FinTech LIVE Dubai, featuring Srinivasan Sampath, Acting Group CTO at First Abu Dhabi Bank. This insightful conference brought together influential leaders in the fintech industry to share their knowledge and experiences. In this article, we'll highlight seven key insights from the event, providing valuable information for finance enthusiasts and professionals alike.   Insight 1: Connecting Fintech Leaders: FinTech LIVE Dubai is a premier platform that connects the world's leading fintech experts. The event serves as a networking opportunity for executives from various sectors such as finserv, banking, and insurance in the Middle East and Africa. By fostering collaboration and knowledge sharing, FinTech LIVE Dubai creates an en...
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