Fintech News Bytes

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"Targeted at younger demographics, Jupiter, like other neobanks, wanted to ride on the back of a superior digital experience that it offered for accessing banking products like savings accounts and fixed deposits of its partner banks.

But RBI clipped its wings, like it did for other fintechs. Since Jupiter realised the regulator also doesn’t like startups calling themselves a “bank” in any form unless they are licensed to be one, it morphed itself into a non-bank.

It got a license and embarked on an expensive journey of making money via lending. In the year ended March 2023, for every crore of a total of Rs 7 crore (US$838,000) in revenue earned, it lost Rs 47 crore (US$5.6 million).

In her reporting, Anjali figured the startup likely did better in the 2024 financial year. But in the wake of getting its finances in order, the neobank-turned-nonbank may just about become another annoying bank app."

:pushpin: Jupiter’s non-bank ambitions hinge on its shaky neobank origins - The Ken

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Flipkart launches super.money UPI app with real cashback rewards and seamless bank integration https://super.money/

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Super.money looks interesting :partying_face:

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Too many options nowadays. Navi on one side and Super Money on the other side. It’s raining cashbacks.

I guess Cred is also still giving cashbacks.

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It looks like the ‘Money+’ option on the Flipkart app has been changed or is missing some features. Options like Flipkart PayLater (not EMI) and the Flipkart Axis card are no longer available. Only the Loan option is visible now. They might be moving these features to a separate section.

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So that was the case I thought my pay later account is disabled…

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