PhonePe

Image Source : FILE Representational Image Last week, the Reserve Bank of India (RBI) directed Paytm Payments Bank to stop accepting new deposits or top-ups in any customer accounts, wallets, or FASTags after February 29. The reason given was non-compliance with regulations. Since then, Paytm has been working to reassure its users. CEO Vijay Shekhar Sharma has…

In a shocking decision last week, the Reserve Bank of India had ordered Paytm Payments Bank not to accept fresh deposits or top-ups in any customer account, wallets or FASTags after February 29, citing non-compliance and regulatory concerns.…

Walmart-backed digital payments major, PhonePe, has inducted new members to its board of directors, in a bid to strengthen its governance as the company prepares itself for a public listing. The company has roped in former revenue secretary Tarun Bajaj on its board and appointed him the chairman of its risk committee. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIIM KozhikodeIIMK Advanced Data Science For…

The banking regulator’s action against Paytm Payments Bank has reignited the debate on the proposal for a ceiling of 30% market share by volume for unified payments interface (UPI) apps, people aware of the matter said.Paytm is the third-largest such app and its current troubles are expected to benefit the other two major players, namely PhonePe and Google Pay.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMITMIT Technology Leadership…

Grocers, cafés and other businesses — big and small — in Delhi, Mumbai, Bengaluru and elsewhere have been seized by uncertainty after the Reserve Bank of India (RBI) cracked down on Paytm Payments Bank on January 31 for not complying with regulations.Rivals such as PhonePe and Google Pay are using the opportunity to port Paytm accounts to their own platforms at no cost. And, Paytm representatives have reached out to some merchants and begun transferring their deposits to other banks. Elevate Your Tech Prowess with…

Flipkart co-founder Binny Bansal has resigned from the e-commerce group’s board, the two said Saturday. Sachin Bansal, the Bengaluru-headquartered startup’s other co-founder, left the board in 2018 after scuffle with the investors. Binny Bansal, who reserved the rights to stay on Flipkart’s board for as long as he preferred, cited conflict of interest with his new venture as the reason for the move. Bansal launched OppDoor, a cross-border e-commerce startup, late last year. OppDoor offers…

Audio streaming platform Pocket FM on Tuesday said it has appointed Suyog Gothi as vice president and India head. Gothi will lead the company's operations in India and work closely with cofounders Rohan Nayak and Nishanth KS.Gothi headed the merchant lending division at PhonePe till November 2023. He played a key role in scaling up the fintech major’s UPI payments business.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product…

Digital payments major PhonePe has appointed former Yes Bank chief digital officer Ritesh Pai as CEO of its international payments business. Prior to this, Pai was working with cross-border payments firm Terrapay and was based in Dubai. At TerraPay, Pai was responsible for launching and implementing its payment products and solutions globally.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM LucknowIIML…

UPI updates in 2024: As we step into the new year, it's important to be aware of some fresh updates to the Unified Payments Interface (UPI), India's fastest-growing payment method. The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have collaboratively crafted these regulations, which aim to enhance your online banking and payment experiences. it's crucial to acquaint yourself with five rule updates set to elevate your online banking and payment experiences. Effective from January 1,…

Fintech startups Groww, AngelOne and PhonePe are emerging as top distributors of mutual fund products, adding lakhs of new systematic investment plans (SIPs) every month. They drew in nearly half the new SIPs opened in November 2023, according to data from asset management companies shared exclusively with ET.The Association of Mutual Funds of India (AMFI) noted that over 3 million new SIPs were created in November 2023, of which around 1.3 million were opened on fintech platforms, according to industry estimates. Groww…