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The RBI has ordered Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking channels and stop issuing new credit cards.
regulation, banking, online banking, mobile banking, digital banking, financial services, financial institutions
Online payment solutions provider PayU has announced that it received in-principal approval from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA).
SMEs, merchant, online payments, payment methods, payments aggregator
Global fintech company Unlimit has secured an online payment aggregator license in the region of India, aimed to accelerate its worldwide expansion strategy.
expansion, product launch, banking, online banking, mobile banking, digital banking, financial services, financial institutions
Hitachi Payment Services, a player in India's payments and commerce sector, has unveiled the country's first Upgradable ATM.
ATM, cash, banking, financial inclusion
Revolut, a prominent fintech firm headquartered in London, is considering strategies to capitalize on customer data by potentially sharing it with advertising partners.
prepaid card, authorisation rate, banking license, financial inclusion, mobile banking
US-based payments provider Nium has partnered with Indonesia-based payment infrastructure company Artajasa to augment cross-border transfers for Indonesians.
cross-border payments, real-time payments, payments infrastructure, expansion, fintech
Amazon Pay has announced its plans to introduce credit services on the Unified Payments Interface (UPI) platform as part of a deal with the National Payments Corporation of India (NPCI).
payments , digital wallet, UPI, Amazon, transactions , partnership
US-based payments provider Nium has announced its official registration as a Financial Services Provider in New Zealand.
regulation, financial services, payments , PSP
The Reserve Bank of India (RBI) has planned to issue an additional licence category for point of sale (POS) businesses in a bid to improve the offline payments ecosystem.
payments aggegator license, KYC, fraud management, fraud prevention, POS
UK-based fintech company Revolut has obtained an in-principal authorisation from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPI) in the region.
payments , mobile payments, financial inclusion, local payment method, cross-border payments
The Reserve Bank of India (RBI) has proposed to set up Digital India Trust Agency (DIGITA) to tackle illegal lending apps, verify approved ones, and promote transparency.
lending, fraud prevention, financial crime, digital verification, regulation
The Paypers looked into the most relevant partnerships announced during Q4 2023 within the banking and fintech space, discovering preferences that went from Open Banking technologies and their applications in ecommerce, card payment innovations, as well as an overall focus on financial crime, fraud prevention, crypto, Web3, and CBDC developments.
partnership, Open Banking, banking, fintech, fraud management, cryptocurrency, crypto, The Paypers Quarterly Analysis series
The National Payments Corp of India (NPCI) has planned to authorise a third-party application provider (TPAP) licence for Paytm, an India-based digital payments app.
banking license, online banking, banks, mobile banking, digital banking
BRICS has made efforts to create payment system based on digital currencies and blockchain to reduce reliance on US dollars in settlement.
blockchain, digital payments, report, de-risking, tokenization
The Reserve Bank of India has announced its plans to launch an interoperable payment system for internet banking for faster fund settlements.
product launch, payments , digital payments, online payments, mobile payments, ecommerce, customer experience
The Financial Intelligence Unit (FIU) from India has announced that it imposed a monetary penalty of approximately USD 662,565 on Paytm Payments Bank.
regulation, AML, money laundering, banking, digital banking
The Embedded Finance Market is expected to reach USD 730.5 billion by 2032, fostered by frictionless transactions and technological advancements.
expansion, embedded finance, embedded lending, embedded payments, banking, online banking, mobile banking, digital banking, financial services, financial institutions
Amazon Pay has secured a payment aggregator licence from the Reserve Bank of India, being enabled to offer online merchant payment solutions to its clients.
payments aggegator license, payments , online payments, mobile payments, digital payments, ecommerce
In the latest update from INNOPAY's Open Banking Monitor, European dominance, surging payment APIs, and a US comeback steal the spotlight, promising fresh insights and solutions for the industry.
API, Open Banking, Open Finance, financial institutions, digital payments
The Reserve Bank of India has directed the National Payments Corporation of India (NPCI) to review a request from Paytm.
banks, payment processing, compliance, digital payments