Funding to payments fintechs in India down 99% in two years: Report

Quick Summary:

Similarly, with lower monetisation options in the payments domain and high cost of operations, the valuation of payments startups has dipped, leading to investor concerns.

Funding to payments fintechs has declined from $2.3 billion to $85 million over the time period, according to a PwC analysis.

In terms of value, frauds have been reported primarily in the loan portfolio, which has witnessed a gradual decline to Rs 11,772 crore in FY24 from Rs 1.81 trillion in FY20.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: IndiaBhutanFranceMauritiusNepalSri Lanka

Topics: Funding decline Digital transactions Cross-border payments PwC analysis CBDC MDR Reserve Bank of India Payments fintechs NPCI UPI Banking frauds

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 19:41:22 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 512 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21675044

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 301 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions