The RBI statement said that the platform may be extended to more countries, going forward. The platform is expected to go live by 2026. Once functional, Nexus will play a key role in making retail cross-border payments efficient, faster, and more cost-effective
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Dismissing misleading media reports claiming that Paytm's leadership has decided to abandon licensed business in favor of a distribution model, the company refuted stating that no such decision or communication has been made regarding a change in its operating strategy
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This launch comes 18 months after Flipkart and PhonePe, India’s leading UPI app with nearly 50% market share, parted ways. Reports suggest that Flipkart is in discussions to raise USD 20 million for Super.Money.
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This funding round, the first for Amica Finance, follows Jupiter receiving an NBFC license from the Reserve Bank of India (RBI) last year, allowing it to lend from its own book
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POP joins prominent players like Google Pay, PhonePe, WhatsApp, CRED, and Paytm as a third-party app authorised to provide UPI payments
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The startup is backed by notable investors such as Tiger Global, Peak XV, and Matrix Partners
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The total value of UPI transactions processed on the Paytm platform grew to Rs 1.24 trillion in May, on the back of the company launching several initiatives for users such as Credit Card on UPI, as well as pushing the lever on UPI Lite.
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Paytm has been bullish on UPI and has formed partnerships with various banks and financial institutions including Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank to enhance its LIPI service
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Recognised as the fastest-growing digital payments channel in India, UPI continues to expand its reach into rural areas and integrate with government welfare schemes
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Adani Group is considering providing online shopping services through the Open Network for Digital Commerce (ONDC), as per media reports
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