Fintech company BharatPe on Monday said it has clocked 106 million transactions in the UPI QR payments category in March, and aims to grow UPI payments by three times in 2021-22. The company recorded USD 830 million worth of transactions (USD 10 billion annualised) in March 2021, according to a statement.
BharatPe continued its trend of outgrowing the market with an 8.8 per cent market share, it added. Over the last 12 months, BharatPe has grown exponentially and has been able to establish itself as one of the fastest-adopted payment systems in the UPI person-to-merchant (P2M) segment. The company has recorded a growth of 7x in volume of UPI transactions from April 2020 to March 2021, it said.
Read more about Chinese regulator orders Ant Group to carry out a major overhaul on Business Standard. Ant Group is a financial affiliate of e-commerce giant Alibaba Group Holding
5 Best Fintech Companies and Stocks in 2021
Lemonade, Inc. (NYSE: LMND) is a New York-based insurance firm founded by Daniel Schreiber, Shai Wininger, and Ty Sagalow in 2015. It is 5th on our list of top 10 best fintech companies and stocks in 2021. The company offers different types of insurance to customers. It uses artificial intelligence and chatbots to process claims, something that makes it unique in the traditional insurance industry. It also holds the world record processing an insurance claim in the quickest time: three seconds. The firm is operating in 28 US states and keeps 25% of the customer’s premium and uses the rest to pay off claims.
10 Best Fintech Companies and Stocks in 2021
Financial technology is the driving force behind the rapid digitization of the world. Fusing the concept of financial services with new technology, fintech companies aim to improve traditional methods of moving money around by offering lower costs, time efficiency and improved access for businesses and consumers to manage their finances. For example, the term fintech can describe many processes, such as online money transfers, mobile payments, loan management, or investments, all done digitally without the need for middlemen.
Naturally, fintech is often described as a disruptor in the finance world. The financial services once recognized as the domains of banks, individual salesmen and desktop computers are now available on mobile phones with a single touch of the finger. Like other industries where digitization has led to serious introspection, finance appears to be struggling over how to deal with the new phenomenon. One thing, thoug
Digital financial services firm Paytm said Thursday it achieved over 1.4 billion transactions in March, led by growth in offline payments and financial services. The firm said it continues to register, on average, 15 per cent month-on-month growth. In February, Paytm had touched the 1.2 billion transactions mark, making this a nearly 17 per cent increase from the previous month. Paytm is the only company that provides the widest range of options to both merchants and customers which has helped us to achieve over 1.4 billion monthly transactions. Consumers can pay from Paytm wallet, UPI, Paytm postpaid, credit or debit cards, and bank accounts. Similarly, merchants can accept payments into their wallet or in any bank account. Paytm has the widest network of merchants in the country with over 20 million merchants partners. We want to serve all spectrum of merchants, from street vendors to large retailers as we continue our efforts to enable them with IoT-based digital payments se