India

Revolut India Secures In-Principle Approval for Prepaid Cards and Wallets

Global neobank Revolut announced that its Indian entity has secured in-principle approval from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPI), such as prepaid cards and wallets. This new approval complements their existing authorisation to operate

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DBS India Commits to Offer US$250 Million in Loans for Local Startups

DBS Bank India has announced a commitment of US$250 million to provide loans to startups across the country, according to Tech in Asia report. This commitment by DBS India is aimed at bolstering startups that are leveraging advanced technologies to

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RBI Grants Payment Aggregator License to Amazon Pay in India

Amazon Pay has been granted a payment aggregator (PA) license by the Reserve Bank of India (RBI), marking a pivotal milestone for the digital payments arm of the e-commerce firm, Amazon India. This approval by RBI is not the first

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Flagright and SALT to Bolster Compliance and Fraud Prevention for SMEs

Flagright, an AI-native company specialising in Anti-Money Laundering (AML) compliance and fraud prevention, has announced its partnership with SALT, a financial platform aiming to support Small and Medium Enterprises (SMEs) in India and Asia. SALT plans to integrate Flagright’s AML

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Netcetera and G+D Launch New 3DS Server in India to Enhance Digital Payments

Netcetera, a Swiss software company providing digital payment solutions, and Giesecke+Devrient (G+D) have launched a new 3D Secure (3DS) server instance in Mumbai, India, marking a significant step in supporting the expansion of global businesses into the region. This move comes

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Visa, Mastercard to Stop Commercial Card Payments via Fintech Intermediaries in India

The Reserve Bank of India (RBI) has directed major card networks Visa and Mastercard to pause transactions involving card-based payments for commercial services like rent or vendor payments that are processed through third-party fintech companies, according to Reuters. This directive,

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Mizuho Bank Invests Over US$144M in Credit Saison’s Indian Subsidiary

Japan’s Mizuho Bank has announced an investment of up to INR 12 billion (US$ 144.43 million) for a 15% equity stake in credit card issuer Credit Saison’s Indian subsidiary, Kisetsu Saison Finance (India). This move is part of Mizuho’s strategic

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Nium Scores In-Principle Approval for Two Key Payment Licenses in India

Global payments platform Nium has obtained in-principle approval from the Reserve Bank of India (RBI) for two critical payment licenses, enabling the firm to broaden its range of financial products in India. Having secured the Prepaid Payment Instrument (PPI), Nium

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Temasek Divests Entire Stake in PolicyBazaar’s Parent Firm for US$292M

Singapore’s sovereign wealth fund Temasek has offloaded its entire holdings in PB Fintech, the parent company behind insurance broker PolicyBazaar and consumer credit marketplace PaisaBazaar, according to Mint. This transaction, completed through a block sale, is valued at approximately INR

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Delhi High Court Cracks Down on Accounts Impersonating Peak XV, Sequoia Capital

The Delhi High Court has mandated major social media platforms, including Telegram, WhatsApp, and YouTube, to dismantle accounts linked to a mobile number accused of impersonating venture capital firms, Peak XV Partners and Sequoia Capital. This directive follows revelations of

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