ELECTRONIC PAYMENTS EXPANSION
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.
From fashion to astrology, early-festive demand fuels 16% growth: GoKwik
Indian shoppers are starting their festive shopping earlier this year, leading to a 16% increase in D2C order volumes on GoKwik's platform. Fashion, beauty, and health categories are leading the sales, with prepaid orders surging across most categories. Improved supply chain performance and changing consumer preferences are also notable trends.
India becomes ground zero in the global AI race
India emerges as a key battleground for global AI dominance, with OpenAI leading the charge by establishing an Indian unit and launching localised, affordable AI solutions like ChatGPT Go. This move intensifies competition among tech giants like Google and Microsoft, sparking a price war and raising questions for local AI startups.
China’s economy slows sharply as trade war bites
China's economic growth faced a slowdown in July. Factory activity, investment, and retail sales numbers were not encouraging.
NPCI shuts UPI pulls; Nykaa Q1 shows growth
Happy Wednesday! To curb rising fraud, NPCI urges banks and fintechs to stop UPI pull transactions. This and more in today’s ETtech Morning Dispatch.
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Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Rebalancing trade ties: India’s path to reduced Chinese import dependence
Despite escalating geopolitical frictions and diplomatic tensions, India’s merchandise trade with China has shown significant resilience, increasing by 81% to $128 billion in FY 2024-25 from $71 billion in FY2015-16.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Fastag adoption in slow lane; UIDAI CEO interview
Happy Monday! Fastag saw limited growth last fiscal, with momentum tapering off. This and more in today’s ETtech Morning Dispatch.
Reliance is trying to become "the coolest one"
Reliance Retail is aggressively expanding into the consumer durables market, challenging established giants like LG and Samsung. The company's strategy involves acquiring legacy brands like Kelvinator, launching its own brand Wyzr, and potentially acquiring stakes in Haier and Whirlpool. This approach mirrors Reliance's successful FMCG strategy, leveraging distribution networks and a 'Made in India' narrative to disrupt the market.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
India's live entertainment industry hits high note with global acts, Gen Z demand
India's live entertainment sector is booming, fueled by Gen Z's desire for immersive experiences and a growing middle class. Concerts and comedy shows are selling out across the country, from major cities to emerging cultural hubs like Shillong. This surge is attracting international artists and driving significant economic impact, with projections indicating substantial revenue growth in the coming years.
Mastercard partners with EVA Live to bring 20+ music shows across India
Mastercard is collaborating with EVA Live to host over 20 music events across India. The events will take place between October and December 2025. Global stars like Enrique Iglesias, A.R. Rahman, and DJ Tiesto are scheduled to perform. Mastercard cardholders will get early ticket access and exclusive discounts. This partnership marks Mastercard's entry into performing arts sponsorship in South Asia.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
USTR sees non-tariff barriers in LIC, NPCI
The US has criticized India's financial industry policies, highlighting favourable treatment towards domestic firms like LIC and data storage requirements hampering foreign payment companies. The report also mentions barriers for foreign banks and insurers, unequal opportunities for foreign reinsurers, and lack of enforcement of market share limits for foreign digital payment firms.
US flags barriers in India’s financial sector amid global tariff war
The US government report highlights entry barriers for foreign firms in India's financial sector, naming entities like LIC and NPCI for receiving favorable treatment. It criticises local data storage requirements and constraints on foreign banks' expansion. Additionally, state-owned insurance companies, digital payment preferences, and unequal treatment of foreign reinsurers are pointed out as issues.
Banks holding on to subsidy share, say payments firms
The companies have written to the National Payments Corp. of India (NPCI), complaining that ₹700 crore of the ₹1,500 crore granted in the budget is being retained by banks.
Gemini Edibles, Data Patterns, MapMyIndia among 10 cos to get Sebi's go ahead to float IPOs
These 10 companies, which filed their preliminary IPO papers with Sebi between August and September, obtained observations letter from the regulator during November 22-26, an update with the markets watchdog showed on Monday.
Paytm issued 3 million FASTags; seeks to add 2 million by March
The expansion would also involve tie-ups with leading car makers Maruti Suzuki, Hyundai, Honda, Kia, and MG Motor, offering pre-fitted Paytm FASTags at the time of vehicle purchase.
No incentives left for banks to push digital pay, fears fintech
While the finer details are still being evaluated, payments firms are looking at fresh business opportunities in the government’s push towards penalising cash payments.
Budget 2017: Big gains for small businesses
Startups can now opt for exemptions on any three consecutive years out of seven, reducing the burden of taxes during the growth stage. This is applicable only to companies registered between April 2016 and March 2019.
Jack Ma’s Ant Financial Plans to Buy 20% Stake in Ascend Money
An investment into Ascend Money, parent of True Money and Ascend Nano, would help Ant Financial expand its online payments and small loans business in Southeast Asia.
'95 per cent corporates have lowest cash flow visibility'
Almost 95 per cent of corporates in the country have lowest visibility of their cash position due to dominance of cash payments for spends rather than use of e-payment channels, says a study.
Hyper-local marketplace Zopper teams up with Citrus Pay Solutions for in-app purchases
Solvy Tech Solutions, which owns and operates Zopper, has tied up with Mumbai-based Citrus Pay Solutions, a leading payments service operator.
HPS inks global alliance with Tech Mahindra
Tech Mahindra signed a global agreement with HPS, a provider of mission critical solutions to cards & payments industry, for offering latter's PowerCARD payments tech to its customers.
India 13th largest non-cash payment market in the world: Report
"India is currently the 13th largest non-cash payment market in the world with a high potential to grow significantly." says a Frost & Sullivan report.
Payment systems firm Financial Software Services in talks with PEs to raise up to Rs 350 crore
FSS, a global payment systems company, is in talks with international private equity funds to raise about $60 million (Rs 350 crore) for growth and expansion.
HSBC inks deal with Visa for new consumer debit cards
Global banker HSBC on Monday announced that it has selected Visa as its brand partner for new consumer debit cards to be issued in about 20 countries, including India.
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