Fintech News Bytes

#100 :partying_face:

The Reserve Bank of India (RBI) on Wednesday (August 24) lifted the business restrictions imposed on American Express after over a year, allowing the US-based company to acquire new domestic customers for its card services.

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Tata Neu is likely to start offering competition to Zerodha, Upstox and Groww kind of stock broking services soon, according to two Entrackr sources.

UPI accounts for over 40% of India’s digital transactions :partying_face:

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ToneTag’s voice-based solution VoiceSe will now allow users to access UPI digital payments via feature phones in their own regional language.

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RBI wants fintech operators to follow rules of game, says Guv Shaktikanta Das :

The statement assumes importance in the wake of the recent incidences wherein a few people who borrowed through these apps have been forced to commit suicide and the last week’s incidence of a young pregnant woman being mowed down by the recovery agents of Mahindra Finance which financed her father’s tractor in Bihar.
Read it here

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Loan disbursal apps and credit aggregators on the Google Play Store in India must prominently display a link to the partner bank or non-banking finance company (NBFC).

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RBI has launched UPI Lite. Users can make payments without an internet connection & doesn’t require a UPI pin.

UPI Lite has been launched as an on-device wallet feature that will allow users to make real-time small-value payments of up to Rs 200.

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@Binoy Any idea how they will implement the feature offline?

You can use full-fledged UPI without internet even now. *99# uses USSD 2.0 to interact with UPI.

Probably they will use it or some similar technology. Since connection to the source bank servers is not required, it just becomes a little faster.

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Jupiter should enable this feature…

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CRED is on a roll! :partying_face:

The feature can also be used to make peer-to peer (P2P) transactions, either by scanning a quick response (QR) code or by feeding in the beneficiary’s UPI identity.

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Did some transaction yesterday and it is damn fast. Even got a cashback of ₹ 8 for a ₹ 10 transaction :joy:

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Jupiter is a (neo)banking app. Not an UPI app. We can’t say anything

An explainer on why people believe Credit Suisse may go under!

:money_with_wings: Will Credit Suisse trigger another global financial crisis?

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UPI is going places :partying_face:

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An explainer on the biggest issue surrounding BNPL apps The fault in BNPL apps

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An explainer on how Digital Banking Units could change banking An explainer on Digital Banking Units (DBUs)

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Every app that contains upi payments in it, is a UPI app also.

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You can only use this app if you have an account with them, I guess. You cannot use it as a UPI app with other bank accounts without its account. Can we :thinking:?