DIGITAL PAYMENTS
GST rates boost: Fintechs, lenders hope for a big bang festive sale season
Digital payment and consumer lending startups anticipate a boost in transactions this festive season following the government's GST cuts on key consumption items. The industry expects a 5-20% growth in transaction volumes, with sectors like automobiles and durables potentially seeing a surge. While macroeconomic concerns persist, lenders are cautiously optimistic about increased consumer spending and new customer acquisition.
Amazon completes Axio acquisition, secures access to direct lending business in India
Amazon has finalized its acquisition of Axio, an Indian non-bank lender, securing a direct lending license in India. This move allows Amazon to offer credit products directly on its platform, including checkout loans, and explore new credit solutions for customers and small businesses. Axio will operate as a separate entity under Amazon, expanding Amazon's fintech presence in India.
Audio entertainment gains ground as daily listening surges: Survey
A recent survey by Pocket FM reveals audio series are gaining significant traction in India, particularly among young adults. Nearly half of listeners consume over 10 episodes daily, dedicating substantial time to genres like drama and romance. The preference for episodic audio dramas over other audio formats is high, with Hindi leading in language consumption, followed by regional languages.
UPI limit increased to Rs 10 lakh within 24 hours for these transactions
NPCI has increased the per-transaction and 24-hour aggregate UPI limits for specific categories, effective September 15, 2025. Capital markets, insurance, and government e-Market Place transactions now have a Rs 5 lakh per-transaction limit and a Rs 10 lakh daily limit. Credit card payments and collections will also see increased limits, enhancing convenience for high-value transactions with verified merchants.
Tobacco prices set to rise 5–6% as GST council clears 40% slab
Tobacco products may become more expensive. The GST Council increased tax on items like cigarettes and pan masala. The new GST rate will likely be implemented by year-end or early next year. Companies will likely pass the increased tax to consumers. However, GST on bidis has been reduced. This could affect sales of small cigarettes.
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Yaap Digital to allocate up to ₹34 crore from proposed IPO proceeds for GoZoop acquisition
Yaap Digital, a digital marketing firm, is planning an IPO. The company intends to use the funds for acquisitions. GoZoop Online is a key target for acquisition. A portion of the IPO proceeds will go towards this. Yaap also plans to invest in an AI content hub. The company will allocate funds for working capital.
NPCI raises UPI transaction limit to Rs 5 lakh for high-value payments
The relaxed transaction limit will apply to categories, including insurance, travel, jewellery, and credit card bill payments, among others.
PayPal, Venmo users to gain early access to Perplexity's Comet AI browser
The Nvidia-backed startup provides artificial intelligence search tools that deliver information summaries to users, looking to take on OpenAI and Google in the AI-powered search industry.
FIEO partners BRISKPE to help exporters with swift, compliant cross border payments
FIEO and BRISKPE have partnered to promote digital payment solutions among Indian exporters, especially MSMEs.
Textiles Minister assesses MSP operations for cotton procurement ahead of Kharif season
Union Textiles Minister Giriraj Singh reviewed MSP operations for cotton procurement starting October 1, 2025, assuring seamless procurement via the 'Kapas-Kisaan' app for farmer registration and direct payments. The initiative aims for a digitally empowered cotton ecosystem with transparent, faceless processes and uniform procurement norms.
DoT rejects Trai plan to charge 'paltry' Rs 500 urban satcom levy
The Telecom Department has turned down the Telecom Regulatory Authority of India's proposal. The proposal suggested charging satcom companies extra for urban subscribers. This was to boost rural connectivity. The department also rejected using Digital Bharat Nidhi to subsidize satellite terminals. The department will ask the regulator to review the proposal.
AI, RBI nod, Amazon tie-up: How Skydo is powering India’s small exporters
Co-founder Movin Jain says the RBI licence, Amazon partnership, and AI-led compliance are driving the adoption of Skydo’s solutions among first-time and mid-market exporters.
Airtel Money’s $4 billion IPO eyes 2026 debut, Citigroup onboarded as advisor: Report
Airtel Africa is gearing up to list its mobile money business, Airtel Money, in the first half of 2026, potentially valuing it at over $4 billion. The company has appointed Citigroup as an advisor for the IPO, aiming to capitalize on growing investor interest in African fintech.
NBDA seeks GST relief to ease financial strain on news broadcasters
The News Broadcasters & Digital Association (NBDA) has appealed to the Finance Minister Nirmala Sitharaman, requesting revisions to the GST framework. They seek a shift in the point of taxation for advertising revenue from invoicing to actual receipt, especially concerning government agencies.
Account Aggregator ecosystem to unlock new frontiers in formal credit access: Finmin
The Account Aggregator (AA) ecosystem, launched in 2021, is rapidly expanding, fostering secure, consent-based financial data sharing. With over 2.2 billion accounts enabled and millions of users linked, it strengthens India's digital public infrastructure. Recognized during India's G20 presidency, AA is poised to boost formal credit access, particularly for MSMEs, contributing to India's Viksit Bharat vision.
Govt weighs special courts to fast-track bank fraud cases
The government is considering establishing special courts to expedite the resolution of bank fraud cases, with discussions underway between the law and finance ministries and banks. This move aims to accelerate disposal, improve financial recovery, and reduce legal costs for lenders. Recent data reveals significant fraud cases reported by banks, prompting the need for a faster judicial mechanism.
Monthly UPI transactions cross 20 billion for first time in August
According to data shared on social media by the Department of Financial Services, the total UPI transaction count touched 20.01 billion in August 2025. UPI recorded 20.01 billion transactions amounting to Rs. 24.85 lakh crore. The year-on-year (YoY) growth stood at 34% in transaction count and 21% in transaction amount.
UPI sets remarkable new volume milestone in August
Unified Payments Interface transactions have surpassed 20 billion in August. Data from the National Payments Corporation of India shows a rise in volume and value. Transaction amount registered a growth of 21 percent. Volume grew by 34 percent. UPI now accounts for 85 percent of India's digital transactions. It is live in seven countries, including France, marking its European entry.
NeGD achieves pan-India integration of nearly 2,000 e-govt services on DigiLocker, e-District platforms
The National e-Governance Division (NeGD), under the Ministry of Electronics and Information Technology (MeitY), has achieved another significant milestone by enabling the pan-India integration of e-Government services on the DigiLocker and e-District platforms. With this achievement, citizens across all 36 States and Union Territories can now seamlessly access close to 2,000 digital services anytime, anywhere.
Stablecoins surge 150% in global use — could they replace your credit card and bank account?
Stablecoins are changing the way we think about money. Unlike traditional credit cards or bank accounts, these digital currencies are fast, low-cost, and accessible worldwide. Whether sending remittances, shopping online, or managing personal finances, stablecoins offer a simpler, more efficient way to move money—without the usual banking delays or high fees.
India’s financial sector profits set to double by 2030; UBS sees NBFCs outpacing banks
India’s financial-services sector is set for robust expansion, with profits projected to nearly double by FY30. UBS sees NBFCs leading growth, driven by retail credit, wealth management, payments, and insurance, while banks lag amid margin pressures and weak corporate lending.
Infosys shares in focus after partnering with Mastercard to boost cross-border payments
Infosys has partnered with Mastercard to streamline cross-border payments, enabling faster, more secure onboarding for banks and boosting efficiency in payment integration.
Mastercard partners with Infosys to scale cross-border payments
Infosys has partnered with Mastercard to integrate Mastercard Move's cross-border payment capabilities into Infosys Finacle. This collaboration aims to provide financial institutions with faster and more secure access to global money movement, reaching over 200 countries and 150+ currencies. The integration will enable seamless digital payment experiences for customers, enhancing loyalty and improving financial experiences.
Aditya Birla Capital shares in focus as RBI grants in-principle approval for payment aggregator license
Aditya Birla Capital's subsidiary, Aditya Birla Capital Digital, has received in-principle authorisation from the Reserve Bank of India to operate as an online payment aggregator. This approval allows the company to strengthen its presence in India's digital payments ecosystem, providing seamless payment aggregation services. The move is expected to enhance Aditya Birla Capital's competitive positioning in the financial services sector.
Steam adult game coder loses access to £80,000 as PayPal slaps sudden freeze - here's why
A UK-based Steam programmer had £80,000 GBP frozen by PayPal alleged violations of its terms of service connected to adult-themed game development. Even though the game was legally compliant and all sales processed via Steam, PayPal upheld its restrictions.
German banks halts $11.7 billion in PayPal payments on fraud concerns: Report
German banks blocked over €10 billion in PayPal payments after detecting suspicious direct debits, disrupting transactions across Europe. PayPal shares slipped nearly 2% amid the incident.
Union Cabinet approves restructuring, extension of PM SVANidhi scheme for street vendors
The Union Cabinet has extended the PM SVANidhi scheme until March 31, 2030, with a Rs 7,332 crore outlay, benefiting 1.15 crore vendors. Loan limits are increased, and UPI-linked RuPay credit cards are introduced for timely repayment.
The Rupee's next revolution: A leap into crypto
Industry leaders anticipate the launch of rupee-backed stablecoins in India, potentially revolutionizing digital payments and enhancing financial inclusion. Despite regulatory hurdles and high crypto taxes, stablecoins offer benefits like traceability, reduced transaction costs, and access for the unbanked.
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