In a move to strengthen security across India’s booming digital payments ecosystem, the government is working with third-party UPI apps such as Google Pay, PhonePe, and Paytm to block fraudulent transactions in real time. The collaboration seeks to implement safeguards that can flag, delay, or even stop suspicious peer-to-peer (P2P) and person-to-business (P2B) transactions before money changes hands. According to a report by Business Standard,...

Flipkart-backed fintech platform super.money is aiming to position itself among India’s top five neo-banks as it scales operations in digital payments and broadens its financial services portfolio. The company, which launched in July 2023, has recorded 175 million UPI transactions and currently ranks fifth on the NPCI’s UPI leaderboard for peer-to-merchant payments. The Bengaluru-based startup has focused on leveraging the Unified Payments Interface (UPI) to...

In a major leap towards digital transformation, Uganda is preparing to roll out a national digital identification system inspired by India’s Aadhaar model. The initiative, based on India-developed open-source technology, will be accompanied by efforts to adopt the Unified Payments Interface (UPI) to reduce transaction costs and promote financial inclusion. India’s MOSIP at the Core of Uganda’s Digital ID Rollout The digital ID system will be...

PB Fintech Ltd., the parent company of insurance brokerage platform Policybazaar, has announced a ₹696 crore investment into its subsidiary PB Healthcare Services Pvt Ltd in the next financial year. The move is aimed at strengthening its healthcare arm, expanding brand presence, and funding strategic initiatives. The decision was approved during a board meeting held on Tuesday. PB Fintech, which does not have an identifiable...

Digital payments giant Paytm has received a show cause notice from the Enforcement Directorate (ED) over alleged violations of the Foreign Exchange Management Act (FEMA). The notice pertains to irregularities in the acquisition of two subsidiaries—Little Internet Private Limited and Nearbuy India Private Limited—between 2015 and 2019, according to a company statement released on Saturday. Despite the regulatory scrutiny, Paytm has assured users and merchants...

The Department for Promotion of Industry and Internal Trade (DPIIT) has joined hands with Paytm (One97 Communications Limited) to foster innovation and accelerate the growth of manufacturing and fintech startups in India. The partnership, formalized through a Memorandum of Understanding (MoU), aims to provide mentorship, infrastructure support, market access, and funding opportunities to help startups scale efficiently. Empowering Fintech and Manufacturing Startups Through this collaboration, Paytm...

US-based MSys Technologies has acquired Gophers Lab, a Noida-headquartered digital and fintech engineering firm. This acquisition aims to address complex technology challenges and develop AI-driven fintech and API ecosystems to support innovation across sectors such as finance, healthcare, retail, and logistics. Tackling Legacy Infrastructure and Fintech Innovation As fintech evolves to deliver hyper-personalized experiences, businesses face challenges from legacy infrastructure, siloed systems, and interoperability issues. These...

Paytm Cloud Technologies, a subsidiary of One97 Communications, has announced a $1 million investment in Seven Technology LLC, the Delaware-based parent company of Brazilian embedded finance startup Dinie. The deal will provide Paytm with a 25% stake in Seven Technology and is expected to be completed within 45 days. This move aligns with Paytm's strategy to expand its merchant payments and financial services model...

The Reserve Bank of India (RBI) has taken a significant step in expanding the adoption of its Central Bank Digital Currency (CBDC) with the launch of a full-scale e-rupee wallet through fintech collaboration. MobiKwik, in partnership with Yes Bank, has become the first platform to offer interoperable e₹ transactions across peer-to-peer (P2P) and peer-to-merchant (P2M) payments. The e₹ wallet supports both UPI payments and traditional...

Fintech firm Cred has become the first non-bank entity to roll out access to India’s central bank digital currency (CBDC), marking a significant step in the Reserve Bank of India’s (RBI) e-rupee project. The move positions Tiger Global and Peak XV-backed Cred as a pioneer among fintech firms in integrating digital rupee transactions into mainstream financial services. The announcement follows RBI’s April 2024 decision to...