RuPay credit cards are seeing a growth in usage after linking with UPI, with its issuance at 30%, up from a mere 5% in 2022-23. The shift towards UPI-based credit cards on third-party apps like Google Pay and PhonePe poses a challenge for banks, raising concerns about customer retention and cross-selling. Fintech startup Fibe, led by Ashish Goyal, foresees a potential share struggle among top UPI apps.
TECH NEWS : RBI Governor Das attributes UPI payment disruptions to banks' outdated technology, not NPCI. Digital payment failures rise, impacting customers. UPI t
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
Happy Friday! New-age firms planning to go public are moving cautiously as stock market volatility remains a concern after the 2024 general election results. This and more in todays ETtech Morning Dispatch.
Paytm accounted for 8.1% of total UPI transactions in May, down from 13% in January, according to data released by the National Payments Corporation of India.