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The key trends shaping India's payments and lending landscape in 2024

Voice of the Industry | Online & Mobile Banking | 13 Mar 2024

Sameer Singh Jaini and Shashank Shekhar from The Digital Fifth explore India's fintech shift fuelled by digital payments, neobanking, and BaaS and uncover trends like B2B payments, cross-border innovations, and digitised lending.

fintech, payments , BaaS, lending, paytech, artificial intelligence, digitalisation, PaaS, API, machine learning, embedded payments, B2B payments, UPI

RBI explores offline solutions to improve CBDC adoption

News | Cryptocurrencies | 12 Feb 2024

The Reserve Bank of India (RBI) has revealed its intention to explore offline solutions to improve CBDC adoption in India’s remote areas.

cryptocurrency, CBDC, digital assets, banks

UPI integrates with PayNow to support cross-border remittances

News | Online Payments | 11 Jan 2024

India’s Unified Payments Interface (UPI) has integrated with PayNow to allow the India diaspora in Singapore to send remittances to recipients in India.

remittance, transactions , partnership, cross-border payments

UnionPay partners with Lazada to support online transactions

News | Ecommerce | 13 Oct 2023

China-based UnionPay International has partnered with Singapore-based ecommerce platform Lazada to support international online transactions.

partnership, online payments, ecommerce, expansion

CRED partners with Shopify to diversify merchant payment options

News | Ecommerce | 15 Sep 2023

India-based CRED has partnered with Shopify to diversify payment options for merchants operating on the Shopify platform.

partnership, ecommerce, payments , payment methods

CRED and NPCI introduce RuPay credit card UPI payments

News | Payments General | 04 Aug 2023

India-based CRED has partnered with the NPCI to introduce RuPay credit card UPI payments and make transactions more convenient for its members.

partnership, mobile payments, payments , product upgrade

Worldline partners with HEC Paris and the HEC Foundation

News | Payments General | 31 May 2023

France-based Worldline has entered a new collaboration with HEC Paris and the HEC Foundation to explore the future of payments.

partnership, payments , research, digital payments

Pine Labs partners ICICI Bank to accept digital rupee payments

News | Cryptocurrencies | 02 May 2023

India-based Pine labs has partnered with ICICI Bank to accept digital rupee payments at its point-of-sale (PoS) terminals.

cryptocurrency, CBDC, banks, partnership, blockchain

ICICI Bank incorporates EMI facility for UPI payments

News | Online & Mobile Banking | 12 Apr 2023

India-based ICICI Bank has introduced an EMI facility for UPI payments, which are made by customers scanning a given QR code while using PayLater.

online banking, digital banking, QR code, QR payments, payments , digital payments, online payments

Worldline rolls out VABOX in India

News | Payments General | 20 Mar 2023

Payment service provider Worldline has launched VABOX (Voice Alert Box) to facilitate instant payment voice alerts for merchants in India.

Worldline, QR code, instant payments, product launch, merchant

HDFC Bank chooses Backbase for digital banking solution

News | Online & Mobile Banking | 17 Mar 2023

HDFC Bank has appointed Backbase to help them deliver their vision for a market-leading digital banking experience in India.

partnership, digital banking, retail banking, customer experience

Indian banks test the digital rupee for in-store payments

News | Cryptocurrencies | 07 Feb 2023

India-based banks ICICI, IDFC First and Kotak Mahindra have begun testing in-store payments using the retail version of the digital rupee.

banks, cryptocurrency, CBDC, digital payments

RBI's retail CBDC pilot includes blockchain technologies

News | Cryptocurrencies | 20 Dec 2022

The Reserve Bank of India has launched CBDC pilots in the wholesale and the retail segment, with the retail one including blockchain-based components.

CBDC, digital assets, cryptocurrency, retail banking, blockchain

The Reserve Bank of India prepares to launch a CBDC pilot

News | Cryptocurrencies | 24 Nov 2022

The Reserve Bank of India (RBI) has started to prepare the rollout of a retail digital rupee pilot following a testing phase of the wholesale usage of its CBDC.

cryptocurrency, CBDC, central bank, crypto asset

Indian Oil and Kotak Mahindra Bank partner for co-branded card

News | Cards | 07 Mar 2022

India-based Kotak Mahindra Bank and Indian Oil Corporation have announced a strategic partnership to launch a co-branded fuel credit card.

partnership, credit card, FIS, report, cashback, cashless, loyalty programme, digitalisation

The evolution of Open Banking in India

Voice of the Industry | Online & Mobile Banking | 10 Dec 2021

Sameer Singh Jaini and Shashank Shekhar of The Digital Fifth examine the progress Open Banking has been made in India from the business and regulatory perspective 

fintech, Open Banking, regulation, API, BaaS, neobanks

Google Pay expands tokenized payments with debit/credit cards

News | Mobile Payments | 17 Jun 2021

Google Pay has announced expanding its cards tokenization feature in collaboration with Visa to include HSBC India, SBI, and more.

product upgrade, virtual card, mobile payments, Google Pay, contactless payments

Kotak Mahindra Bank launches remittance solution on its mobile app

News | Mobile Payments | 16 Feb 2021

India-based Kotak Mahindra Bank has announced that its remittance solution, Kotak Remit, is now live on the Kotak Mobile Banking app. 

Kotak Mahindra Bank, India, Asia, mobile banking, remittance, money transfers, mobile payments

PayPal's Xoom integrates with UPI payments to support instant remittances to India

News | Payments General | 22 Dec 2020

PayPal’s money transfer service Xoom has added the Unified Payments Interface (UPI) to its platform, to enable instant money transfers to India, reports Verdict.

Xoom, UPI, payments , remittances, India

Google Pay allows Kotak Mahindra Bank customers in India to make payments with Visa cards

News | Mobile Payments | 16 Oct 2020

Google Pay has announced it now allows the customers of Kotak Mahindra Bank to make payments using their Visa credit and debit cards in India.

Google Pay, Visa, Kotak Mahindra Bank, India, payments , mobile payments