bfsi.economictimes.indiatimes.com Open in urlscan Pro
2a02:26f0:3400:186::3857  Public Scan

Form analysis
4 forms found in the DOM

<form>
  <ul class="tabs clearfix">
    <li><a class="active" href="#" data-target="cookietabAnalytics">Analytics</a></li>
    <li><a class="" href="#" data-target="cookietabNecessary">Necessary</a></li>
    <li><a class="hideit" href="#" data-target="cookietabNewsletter">Newsletter</a></li>
  </ul>
  <div data-box="cookietabAnalytics" class="scroll-content ">
    <table cellpadding="0" cellspacing="0">
      <thead>
        <tr>
          <th></th>
          <th>Name</th>
          <th>Provider</th>
          <th>Expiry</th>
          <th>Type</th>
          <th>Purpose</th>
        </tr>
      </thead>
      <tbody>
        <tr>
          <td><input name="config.ga" id="id-config-ga" type="hidden" value="0"><input name="config.ga" type="checkbox" value="1"></td>
          <td><label for="id-config-ga">Google Analytics</label></td>
          <td><label for="id-config-ga">Google</label></td>
          <td><label for="id-config-ga">1 Year</label></td>
          <td><label for="id-config-ga">HTTPS</label></td>
          <td><label for="id-config-ga">To track visitors to the site, their origin &amp; behaviour.</label></td>
        </tr>
        <tr>
          <td><input name="config.ibeat" id="id-config-ibeat" type="hidden" value="0"><input name="config.ibeat" type="checkbox" value="1"></td>
          <td><label for="id-config-ibeat">iBeat Analytics</label></td>
          <td><label for="id-config-ibeat">Ibeat</label></td>
          <td><label for="id-config-ibeat">1 Year</label></td>
          <td><label for="id-config-ibeat">HTTPS</label></td>
          <td><label for="id-config-ibeat">To track article's statistics</label></td>
        </tr>
        <tr>
          <td><input name="config.growthrx" id="id-config-growthrx" type="hidden" value="0"><input name="config.growthrx" type="checkbox" value="1"></td>
          <td><label for="id-config-growthrx">GrowthRx Analytics</label></td>
          <td><label for="id-config-growthrx">GrowthRx</label></td>
          <td><label for="id-config-growthrx">1 Year</label></td>
          <td><label for="id-config-growthrx">HTTPS</label></td>
          <td><label for="id-config-growthrx">To track visitors to the site and their behaviour</label></td>
        </tr>
      </tbody>
    </table>
  </div>
  <div data-box="cookietabNecessary" class="scroll-content hide">
    <table cellpadding="0" cellspacing="0">
      <thead>
        <tr>
          <th></th>
          <th>Name</th>
          <th>Provider</th>
          <th>Expiry</th>
          <th>Type</th>
          <th>Purpose</th>
        </tr>
      </thead>
      <tbody>
        <tr>
          <td><input name="config.optout" id="id-config-optout" type="hidden" value="1"><input name="config.optout" type="checkbox" value="1" checked="" disabled=""></td>
          <td><label for="id-config-optout">optout</label></td>
          <td><label for="id-config-optout">Times Internet</label></td>
          <td><label for="id-config-optout">1 Year</label></td>
          <td><label for="id-config-optout">HTTPS</label></td>
          <td><label for="id-config-optout">Stores the user's cookie consent state for the current domain</label></td>
        </tr>
        <tr>
          <td><input name="config.PHPSESSID" id="id-config-PHPSESSID" type="hidden" value="1"><input name="config.PHPSESSID" type="checkbox" value="1" checked="" disabled=""></td>
          <td><label for="id-config-PHPSESSID">PHPSESSID</label></td>
          <td><label for="id-config-PHPSESSID">Times Internet</label></td>
          <td><label for="id-config-PHPSESSID">1 day</label></td>
          <td><label for="id-config-PHPSESSID">HTTPS</label></td>
          <td><label for="id-config-PHPSESSID">Stores user's preferences</label></td>
        </tr>
        <tr>
          <td><input name="config.accessCode" id="id-config-accessCode" type="hidden" value="1"><input name="config.accessCode" type="checkbox" value="1" checked="" disabled=""></td>
          <td><label for="id-config-accessCode">accessCode</label></td>
          <td><label for="id-config-accessCode">Times Internet</label></td>
          <td><label for="id-config-accessCode">2.5 Hours</label></td>
          <td><label for="id-config-accessCode">HTTPS</label></td>
          <td><label for="id-config-accessCode">To serve content relevant to a region</label></td>
        </tr>
        <tr>
          <td><input name="config.pfuuid" id="id-config-pfuuid" type="hidden" value="1"><input name="config.pfuuid" type="checkbox" value="1" checked="" disabled=""></td>
          <td><label for="id-config-pfuuid">pfuuid</label></td>
          <td><label for="id-config-pfuuid">Times Internet</label></td>
          <td><label for="id-config-pfuuid">1 Year</label></td>
          <td><label for="id-config-pfuuid">HTTPS</label></td>
          <td><label for="id-config-pfuuid">Uniquely identify each user</label></td>
        </tr>
        <tr>
          <td><input name="config.OSTID " id="id-config-OSTID " type="hidden" value="1"><input name="config.OSTID " type="checkbox" value="1" checked="" disabled=""></td>
          <td><label for="id-config-OSTID ">OSTID</label></td>
          <td><label for="id-config-OSTID ">Times Internet</label></td>
          <td><label for="id-config-OSTID ">1 Year</label></td>
          <td><label for="id-config-OSTID ">HTTPS</label></td>
          <td><label for="id-config-OSTID ">Oauth secure token</label></td>
        </tr>
        <tr>
          <td><input name="config.OSSOID" id="id-config-OSSOID" type="hidden" value="1"><input name="config.OSSOID" type="checkbox" value="1" checked="" disabled=""></td>
          <td><label for="id-config-OSSOID">OSSOID</label></td>
          <td><label for="id-config-OSSOID">Times Internet</label></td>
          <td><label for="id-config-OSSOID">1 Year</label></td>
          <td><label for="id-config-OSSOID">HTTPS</label></td>
          <td><label for="id-config-OSSOID">Oauth user identifier</label></td>
        </tr>
        <tr>
          <td><input name="config.OSTPID" id="id-config-OSTPID" type="hidden" value="1"><input name="config.OSTPID" type="checkbox" value="1" checked="" disabled=""></td>
          <td><label for="id-config-OSTPID">OSTPID </label></td>
          <td><label for="id-config-OSTPID">Times Internet</label></td>
          <td><label for="id-config-OSTPID">1 Year</label></td>
          <td><label for="id-config-OSTPID">HTTPS</label></td>
          <td><label for="id-config-OSTPID">used to sync accross portals</label></td>
        </tr>
        <tr>
          <td><input name="config.fpid" id="id-config-fpid" type="hidden" value="1"><input name="config.fpid" type="checkbox" value="1" checked="" disabled=""></td>
          <td><label for="id-config-fpid">fpid</label></td>
          <td><label for="id-config-fpid">Times Internet</label></td>
          <td><label for="id-config-fpid">1 Year</label></td>
          <td><label for="id-config-fpid">HTTPS</label></td>
          <td><label for="id-config-fpid">Browser Fingerprinting to uniquely identify client browsers</label></td>
        </tr>
      </tbody>
    </table>
  </div>
  <div data-box="cookietabNewsletter" class="scroll-content hide">
    <table cellpadding="0" cellspacing="0">
      <thead>
        <tr>
          <th></th>
          <th>Name</th>
          <th></th>
          <th></th>
          <th></th>
          <th>Purpose</th>
        </tr>
      </thead>
      <tbody>
        <tr>
          <td><input name="config.newsletter" id="id-config-newsletter" type="hidden" value="0"><input name="config.newsletter" type="checkbox" value="1"></td>
          <td><label for="id-config-newsletter">Daily Newsletter</label></td>
          <td><label for="id-config-newsletter"></label></td>
          <td><label for="id-config-newsletter"></label></td>
          <td><label for="id-config-newsletter"></label></td>
          <td><label for="id-config-newsletter">Receive daily list of important news</label></td>
        </tr>
        <tr>
          <td><input name="config.promonewsletter" id="id-config-promonewsletter" type="hidden" value="0"><input name="config.promonewsletter" type="checkbox" value="1"></td>
          <td><label for="id-config-promonewsletter">Promo Mailers</label></td>
          <td><label for="id-config-promonewsletter"></label></td>
          <td><label for="id-config-promonewsletter"></label></td>
          <td><label for="id-config-promonewsletter"></label></td>
          <td><label for="id-config-promonewsletter">Receive information about events, industry, etc.</label></td>
        </tr>
      </tbody>
    </table>
  </div>
  <footer>
    <label><input type="hidden" name="useragreement" value="0"><input type="checkbox" name="useragreement" value="1"> I've read &amp; accepted the
      <a style="color:red" href="https://bfsi.economictimes.indiatimes.com/terms_conditions.php" target="_blank">terms and conditions</a></label>
    <input type="button" id="submitconsent" value="OK">
    <span class="err_txt hide"></span>
  </footer>
</form>

GET https://bfsi.economictimes.indiatimes.com/search

<form method="get" id="search_form" action="https://bfsi.economictimes.indiatimes.com/search">
  <input name="q" aria-label="Query" type="text" class="txt" autocomplete="off" placeholder="Search" value="">
</form>

<form action="" class="clearfix">
  <div class="section clearfix">
    <input id="subscribe_email_top" aria-label="Email" type="text" class="textbox" value="" placeholder="Your Email">
    <input type="button" id="subscriber_btn_top" onclick="EtB2b.subscription.updateSubscription('top');" class="btn submit" value="Join Now">
  </div>
  <ul class="nwsltr_lst clearfix" style="display:none;">
  </ul>
</form>

<form action="" class="clearfix">
  <input id="subscribe_email_bottom" aria-label="Email" type="text" class="textbox" value="" placeholder="Your Email">
  <input type="hidden" name="pip_category_id_bottom" id="pip_category_id_bottom" value="0">
  <input type="hidden" name="pip_category_top" id="pip_category_bottom" value="">
  <input type="hidden" name="newsletter_id_bottom" id="newsletter_id_bottom" value="">
  <input type="button" id="subscriber_btn_bottom" class="btn submit" value="Join Now" onclick="EtB2b.subscription.updateSubscription('bottom');">
</form>

Text Content

ACCEPT THE UPDATED PRIVACY & COOKIE POLICY

Dear user,

ET BFSI privacy and cookie policy has been updated to align with the new data
regulations in European Union. Please review and accept these changes below to
continue using the website.

You can see our privacy policy & our cookie policy. We use cookies to ensure the
best experience for you on our website.

If you choose to ignore this message, we'll assume that you are happy to receive
all cookies on ET BFSI.

 * Analytics
 * Necessary
 * Newsletter

NameProviderExpiryTypePurpose Google AnalyticsGoogle1 YearHTTPSTo track visitors
to the site, their origin & behaviour.iBeat AnalyticsIbeat1 YearHTTPSTo track
article's statisticsGrowthRx AnalyticsGrowthRx1 YearHTTPSTo track visitors to
the site and their behaviour

NameProviderExpiryTypePurpose optoutTimes Internet1 YearHTTPSStores the user's
cookie consent state for the current domainPHPSESSIDTimes Internet1
dayHTTPSStores user's preferencesaccessCodeTimes Internet2.5 HoursHTTPSTo serve
content relevant to a regionpfuuidTimes Internet1 YearHTTPSUniquely identify
each userOSTIDTimes Internet1 YearHTTPSOauth secure tokenOSSOIDTimes Internet1
YearHTTPSOauth user identifierOSTPID Times Internet1 YearHTTPSused to sync
accross portalsfpidTimes Internet1 YearHTTPSBrowser Fingerprinting to uniquely
identify client browsers

NamePurpose Daily NewsletterReceive daily list of important newsPromo
MailersReceive information about events, industry, etc.

I've read & accepted the terms and conditions
NEWS SITES
 * Auto News
 * Retail News
 * Health News
 * Telecom News
 * Energy News
 * CIO News
 * Real Estate News
 * Brand Equity
 * CFO News
 * IT Security News
 * Government News
 * Hospitality News
 * HR News
 * Legal News
 * ET TravelWorld News
 * Infra News
 * B2B News
 * CIOSEA News
 * HRSEA News
 * HRME News


Upcoming Event: CFO Meet & discussion on Revised Companies Act
Sign in/Sign up
 * Follow us:
 * 
 * 
 * 
 * 
 * 


 * 
 * ETBFSI Exclusive
 * BANKING
 * INSURANCE
    * InsurTech

 * NBFC
 * FINTECH
    * Payments
    * Digital Lending
    * RegTech
    * Open API

 * BFSI Videos
 * Editor's View
 * Brand Solutions
   
    * ETBFSI AWARDS 2022
      
      
   
    * ACCELERATE END-TO-END CUSTOMERS' JOURNEYS WITH AN AGILE LENDING SOLUTION
      
      
   
    * GLOBAL INSURANCE BROKERS PVT. LTD
      
      
   
    * ETBFSI.COM CONVERGE
      
      Thriving in the world of digital
   
    * ETBFSI CXO CONCLAVE
      
      Connecting Financial Institutions Digitally
   
    * LAY THE GROUNDWORK TO ACCELERATE BANKING INNOVATION
      
      
   
    * ETBFSI FINNEXT SUMMIT
      
      The Future of NBFCs and FinTechs
   
    * SIDBI-ET MSMES/STARTUPS
      
      Roudtable Discussion
   
    * REIMAGINE NEXT
      
      
   
    * LEARNFEST
      
      
   
    * REIMAGINE NEXT - THE FUTURE OF LEARNING
      
      
   
    * ETBFSI.COM CONVERGE
      
      BFSI: The world of Hyper-personalization
   
    * ETBFSI EXCELLENCE AWARDS 2021
      
      AWARDS FOR EXCELLENCE IN INNOVATION
   
    * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI
      
      
   
    * 3RD EDITION OF ETBFSI CXO CONCLAVE
      
      Unlocking the BFSI Potential
   
    * THE DIGITAL NEXT: SERIES 2.1
      
      Live Virtual Summit
   
    * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021
      
      
   
    * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021
      
      
   
    * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY
      
      


 * Millennial Finance
 * FinTech Diary
 * ETBFSI Research
 * Green Finance
 * IBC
 * ETBFSI Explains
 * BFSI Movement
 * More
   * Blogs
   * BFSI Tech Tales
   * Innovation Masters
   * POLICY
   * FINANCIAL SERVICES

x

 



 * BFSI News
 * Latest BFSI News
 * Fintech


EXCLUSIVE


HOW UPI BUSINESS MAKES MONEY, WHAT PROFIT MARGIN DO THEY HAVE?

In any industry, if a company enjoys the benefit of having a lion’s share, it
should be profitable, right? Is the same happening in the UPI business? Are the
players with big names earning big? What is the scope for small players who want
to enter the business? For this week’s ETBFSI Explainer, we bring you the UPI
story:

 * ETBFSI
 * Updated: December 05, 2022, 12:10 IST

 * 
 * 
 * 
 * 
 * 
 * 
 * 
 * 

According to NPCI data, the value of UPI transactions in November stood at Rs
11,90,593, which is a 1.7% decline from the peak of Rs 12,11,582 crore seen in
October. (BCCL image)
- Navya Menon

The online payment habit has grabbed the attention post-demonetisation and
spiked post-pandemic, as it's a quick and contactless method. Fintech
applications like PhonePe, Google Pay, and Paytm have gained so much traction
that words such as ‘gpaying’ and ‘paytming’ have quickly replaced verbs like
paying and making reimbursements.

Not only the big players, but the small ones like local Kirana stores, have also
picked this payment habit.

How big is the UPI industry?



Launched in 2016, the UPI posted record numbers, touching a new high of 11.6
billion transactions in September this year, to the tune of 11.17 trillion
rupees. However, there are 3 firms that enjoy the largest slices of this
industry. These companies are PhonePe and Google Pay with 43% market share each,
followed by Paytm with a meager 8% share in this booming industry. Therefore,
cumulatively, just 3 companies account for 94% of the market share! Given below
is the market share of all the players in the UPI industry.

Also read: RBI raps banks for giving up UPI for fintech



In any industry, if a company enjoys the benefit of having a lion’s share, they
should be profitable, right? However, barring Google Pay India, none of the
companies are profitable

In any industry, if a company enjoys the benefit of having a lion’s share in the
industry, they should be profitable, right? However, barring Google Pay India,
none of the companies are profitable.



So, what’s the reason behind this skewed revenue model of these companies? Here
are the primary ways through which these firms make money:


 1. Commission income:
    All these companies tie up with brands for a brand placement fee and
    daily-utility servicing companies for commissions on expenses like mobile
    recharge, bill payments, DTH activation etc. You must have often seen
    scratch cards which say- Rs.250 off on placing order with a xyz company or
    shares worth Rs.1000 of Apple will be transferred to one’s demat account if
    they have an account with the company mentioned on the scratch card.
 2. Subscription revenues:
    For all the POS machines installed at kirana stores, through which one can
    scan and make payments, these companies charge a nominal transaction fee,
    which adds to their revenue coffers.
 3. Loan disbursals:
    As banks can often take time to review applications and grant loans, these
    apps have started with instant loans, merchant and personal loans with quick
    disbursals. These loans help them make 2.5% to 3.5% up front of the loan
    value.
 4. Collection:
    These enterprises also end up collecting money on behalf of their lenders,
    which gives them 0.5% to 1.5% of the current disbursement value.
 5. Data collection for marketing services:
    Data is used to innovate new products for the company or help other
    marketing companies identify consumer trends in the market. For instance,
    co-branded credit cards give an upfront distribution revenue and lifetime
    usage fee.


Also read: Marginal dip in UPI transactions for November after spike in festive
season



Despite having so many revenue streams, and such promising numbers of Indians
embracing UPI, why have these companies failed to report profits?


 1. MDR:
    MDR stands for merchant discount rate, which is a fee that merchants have to
    pay to these firms to facilitate transactions. However, these charges were
    scrapped in 2020 to promote and bolster UPI transactions in the country.
    Thus, the payment modes are an unlucrative revenue source for the firms,
    despite a strong customer database. However, it is applicable on credit and
    debit cards, which form a relatively lower market for the firms. Though the
    Payment Council of India has urged the Government to reconsider imposing MDR
    on the merchants and users, only time will tell if this will help the likes
    of Paytm, Phonepe and Google Pay turn profitable.
 2. Lack of differentiation and high CAC:
    Though google pay and phonepe account for nearly 86% of the transactions,
    there is no differentiating factor that they both bring to the table. Hence,
    there is nothing unique that can be offered to retain consumers.
    Additionally, these firms have higher customer acquisition cost (CAC), which
    keeps the bigger players on their toes. If they snooze, their competitors
    will easily eat into their market share, hence competition is intense with
    razor thin margins.
 3. High cash burn rate:
    When PhonePe reported its profit, it can be witnessed that the employee
    costs (which form the highest expenditure for the firm) made up 47% of the
    total costs of the company. This comes on the back of retaining talent
    through ESOPs i.e. Employee Stock Ownership Plans. Moreover, Expenditure on
    cashback and marketing grew 62% to Rs 866 crore in FY22. Hence, to lure
    customers with attractive discounts, the firms have been burning a lot of
    cash.


No more freebies: The path to profitability
As mentioned above, these firms have been consistently seeing an uptick in
growth of consumers which indicates strong consumer confidence and willingness
to embrace digital payments, which wasn’t the case before. Recently, Google Pay
touched 15 crore user base globally, out of which 7 crores comes from India.
Even if a 0.1% transaction fee is imposed, Google Pay, PhonePe and Paytm will
eventually end up minting additional income. This could be a big game changer
for the industry and would incentivise the existing players to up their game and
even help other companies enter the industry.



Follow and connect with us on Twitter, Facebook, Linkedin, Youtube
Fintech
upi
phonepe
google pay
paytm
payment council of india
mdr
india
apple
payment
etbfsi explains


Read on App
Read on App


PEOPLE WHO READ THIS ALSO READ

 * Insurers share mixed views on proposed changes to Insurance and IRDAI Acts
 * Razorpay permits merchants to accept credit card payments via UPI
 * UPI fund block to ease broker workload but raises question over payment
   failure: Nitin Kamath of Zerodha
 * Scam in cooperative bank: Assets worth Rs 30 crore attached


SUBSCRIBE TO OUR NEWSLETTER

50000+ Industry Leaders read it everyday



I have read Privacy Policy and Terms & Conditions and agree to receive
newsletters and other communications on this email ID.













FINTECH

 * 3 hrs ago
   
   ASHNEER GROVER'S ADVICE TO STARTUP FOUNDERS: DON'T GO BY WESTERN CONCEPT OF
   ARM'S LENGTH, RELATED PARTY TRANSACTION

 * 3 hrs ago
   
   DATA AVAILABLE ON CRYPTO IS MISLEADING, SAYS RBI DEPUTY GOVERNOR T RABI
   SHANKAR

 * 1 day ago
   
   FTX SECRETLY FUNDED CRYPTO NEWS SITE THE BLOCK: REPORT

 * 1 day ago
   
   BHARATPE FILES ARBITRATION TO CLAW BACK ASHNEER GROVER'S 1.4% SHARES

View More


EDITOR'S PICK

 * 3 hrs ago
   
   HOW CBDC IS DIFFERENT FROM UPI: RBI GOVERNOR’S VERSION EXPLAINED

 * 3 hrs ago
   
   EMBEDDED FINANCE SPIKE TO SUPER APPS: SEVEN TRENDS THAT WILL PROPEL FINTECH
   FIRMS IN 2023

 * 3 hrs ago
   
   VERONICA SCOTTI OF SWISS-RE HIGHLIGHTS ROLE OF INSURANCE IN MANAGING PUBLIC
   FINANCES IN INDIA

 * 1 day ago
   
   THE ROLE OF FINANCIAL INSTITUTIONS IN ADDRESSING CLIMATE CHANGE

 * 22 hrs ago
   
   HOW CAN FINTECH HELP MAKE THE MSME SECTOR GREEN?


BFSI VIDEOS


 * SFBS AND NBFCS DEEPENING THE FINANCIAL INCLUSION AGENDA: FINCARE SFB CEO
   
   A quick chat with Rajeev Yadav, MD & CEO, Fincare Small Finance Bank at the
   3rd Edition of the two day ETBFSI Converge 2022.

 * 3 days ago
   
   BANKS' LEADERS DISCUSSION: THRIVING IN THE WORLD OF DIGITAL

 * 5 days ago
   
   KEY FOCUS ON CUSTOMER CENTRIC CUSTOMIZATION OF SERVICES: IPPB CHIEF
   VENKATRAMU

 * 6 days ago
   
   ALLIANCES BETWEEN BANKS AND FINTECH WILL BOLSTER EFFICIENCY: CITY UNION BANK
   CEO

View More




EXCLUSIVE


INDIAN FINTECH MARKET TO RECORD ‘10 TIMES’ GROWTH; ACHIEVE $1TN IN AUM, $200BN
IN REVENUE BY 2030

India is now being recognized as one of the largest FinTech unicorn ecosystems,
home to 21 FinTech Unicorns as of March 2022.

 * ETBFSI

Click Here to Read This Story
 * 
 * 
 * 
 * 
 * 
 * 
 * 
 * 

Indian Fintech market is expected to record a 10 times growth to achieve $1Tn in
Assets Under Management (AUM) and $200Bn in revenue, said the report titled ‘$1
Tn India FinTech Opportunity'.

The report released by Chiratae Ventures in collaboration with Ernest and Young
(EY), highlighted that much of the growth will be driven by the digital lending
market, which is expected to grow to $515 Bn in book size by 2030.

The market is expected to reach $1Tn in AUM with contribution from lending to be
highest at 50%+, while from a revenue standpoint payments and lending make 75%+
of the pool, the report highlighted.



India is now being recognized as one of the largest FinTech unicorn ecosystems,
home to 21 FinTech Unicorns as of March 2022. An organic and collaborative
ecosystem is driving this growth, which is being supported by key government
initiatives, such as Digital India, Smart City, the development of UPI, and
other initiatives.

Payments, Digital Lending, WealthTech, InsurTech, and Neo-banking will all be
contributing to growth in the FinTech space with Agri+FinTech and Prop+FinTech
considered to be big bets.

Tailwinds due to favorable demographics, growing technology adoption, higher
disposable incomes, and aware customer are further fuelling this growth.
Fintechs have been innovating in product and delivery to cater to the evolving
needs of the customers.

The report also highlights that Buy Now Pay Later has become mainstream and is
on an accelerated growth trajectory, emerging strong not only in B2C but also in
the B2B payments space.

On the launch of the report Sudhir Sethi, Founder, and Chairperson, Chiratae
Ventures said, “The Indian Fintech market has been a formidable global force,
contributing to the largest share of unicorns in India. We have been a
technology-first investor believing in the power of both data and technology and
hence have backed companies such as EarlySalary, Kristal.ai, PB Fintech, ShopSe,
and Vayana amongst others”



Co-lending to emerge as a preferred model that supports lending partners in
mitigating their risk exposure. New asset classes, Crypto & NFT will also
continue to attract investor interest as fintech continues to solve for
traditionally underserved customers.

Technology-based Innovation on the underwriting side of the insurance value
chain will help deliver solutions for the highly unpenetrated market at
affordable rates.

“FinTechs have innovated for the underserved financial markets through a strong
and supportive ecosystem, which will continue to keep accelerating growth and
penetration of Fintech in India. These include fast-growing digital adoption and
mobile penetration on the back of the cheapest data rates in the world offered
by private telecom players, to enabling regulatory environment coupled with
world-leading digital infrastructure (Aadhar, UPI, BBPS etc.), and structural
reforms and initiatives (GST, TReDSetc.),” said TC Meenakshi Sundaram,
Co-Founder and Vice Chairperson, Chiratae Ventures.

“We also expect FinTechs to continue solving for the substantial and growing
sub-markets with novel solutions,” he added.

With 5X growth in the digital tech talent, India has the opportunity to address
the global digital skill gap and establish itself as the destination of digital
and tech talent.

“India is recognized as a strong FinTech hub globally and is increasingly
becoming a talent destination for fintech businesses. We are glad to partner
with Chiratae Ventures and delve into the emerging trends in regulatory
innovation, technology advancements, new business models, industry convergence,
and inclusive digital financial services in the Indian fintech space,” said
Rajiv Memani, Chairman and Managing Partner, EY India.

The report also highlighted that the regulatory support will enable the industry
further as already established models go international through collaborations.

The actively encouraging innovation through regulatory sandboxes, new
distribution models, and the launch of innovative products has provided a good
regulatory environment.



Follow and connect with us on Twitter, Facebook, Linkedin, Youtube
Fintech
wealthtech
fintech unicorns
digital lending
digital india
chiratae ventures


Read on App
Read on App

 * Industry News
 * Auto News
 * Retail News
 * Health News
 * Telecom News
 * Energy News
 * CIO News
 * Real Estate News
 * Brand Equity
 * CFO News
 * IT Security News
 * Government News
 * Hospitality News
 * HR News
 * Legal News
 * ET TravelWorld News
 * Infra News
 * B2B News
 * CIOSEA News
 * HRSEA News
 * HRME News

 * CONTACT US
   
   
   ADVERTISE WITH US
   
   We have various options to advertise with us including Events, Advertorials,
   Banners, Mailers, Webinars etc.
   
   Please contact us to know more details.

 * SIGN UP FOR
   
   
   ETBFSI NEWSLETTER
   
   Get ETBFSI's top stories every morning in your email inbox.
   
   50000+ Industry Leaders read it everyday
   
   
   
   I have read Privacy Policy and Terms & Conditions and agree to receive
   newsletters and other communications on this email ID.
   

 * FOLLOW US
   
   
   @ETBFSI
   
   Follow @ETBFSI for the latest news, insider access to events and more.
   
   * 
   * 
   * 
   * 
   * 

 * About Us
 * Contact Us
 * Advertise with us
 * Newsletter
 * RSS Feeds
 * Embed ETBFSI.com Widgets on your Website
 * Privacy Policy
 * Terms & Conditions
 * Guest-Post Guidelines
 * Sitemap

Copyright © 2022 ETBFSI.com. All Rights Reserved.