Aditya Goel’s Post

The Tabapay debacle. Defiance by design and claiming not to know much or anything about the most fundamental flaws in their own product. Fintechs in decay need a way out if they can find one. Synapse is Tabapay’s payday, for now. Will they pull this off and will that mystery the capital market support and reward Tabapay’s shareholders and those of Synapse. Will share prices rise and who even gives a hoot if they do. Nobody’s ever explained to me why this is a good thing or might be valued. Fintechs are container loads of loopy larceny basically. Hardly any of them tackle a pain point in a manner or at a price banks and others are willing to pay. What most banks want most of the time is apps, utilities and segments of code. As well as teams of people. Not fruity, fanciful and so often forced and formulaic fintech business plans. Most of all banks want to bypass, minimise and even completely avoid paying out for enterprise value odd jobs for those few monkeys successfully able to seduce banks into doing so. Any fintech in Australia and almost all fintechs around the world are essentially worthless and inconsequential. The sooner the fintech flubber is forgotten and retired into history the better.

TabaPay is working on a deal to acquire embattled banking-as-a-service platform Synapse, numerous reputable sources tell me: If TabaPay sounds familiar, it may be because the name came up last September, when Synapse CEO Sankaet Pathak claimed a configuration error on Evolve Bank & Trust's part caused TabaPay to erroneously debit $12 million or more of customer funds, leading to a shortfall in FBO accounts. At the time, TabaPay said it wasn't aware, responsible, or involved in the alleged issue. TabaPay partners with 15 banks, including well-known players in the BaaS space like Evolve, WebBank, Lead, and Bancorp to facilitate connections to various payment rails, including Visa, Mastercard, Amex, Discover, Nacha, and The Clearing House. TabaPay also integrates with middleware and issuing platforms like Galileo, Marqeta, and Unit. Its clients include bluechip fintechs like Klarna, Dave, Remitly, SoFi, Upgrade, Payactiv, and numerous others. TabaPay’s potential acquisition of Synapse may be the last-best hope to contain the fallout and mitigate collateral damage to TabaPay, Evolve, and the banking-as-a-service and fintech industry at large. More on this in this week's Fintech Business Weekly through the link in the comments below.

#IvyCapPortfolio #achievementunlocked Warmest congratulations to our portfolio company, ftcash for yet another remarkable achievement. FtCash, the fintech company, has been granted an in-principle license by the Reserve Bank of India (RBI) to function as a payment aggregator and payment gateway. This milestone empowers the company to provide its customers with comprehensive and secure digital payment solutions and loans. With this license, FtCash can elevate its services, offering streamlined payment processes, expanded merchant services, and a range of financial products tailored to the requirements of micro-merchants and small businesses. In the upcoming months, the company intends to introduce new features and services, enhancing the payment experience for merchants and consumers alike. Read the full article at https://lnkd.in/d-8wVFx5 Vikram Gupta | Ashish Wadhwani | Tej Kapoor | Vishal Gauri | Sanjeev Chandak | Deepak Kothari | Vaibhav Lodha | CNBC-TV18 #fintech #payment #finance #financial #startup #paymentaggregator #consumer #micromerchant #license

Exciting news! Xflow has been recognized by IBS Intelligence as one of the 'five fintech companies revolutionizing cross-border payments in India'. 🎉 With India's digital economy booming, we're proud to be at the forefront, empowering businesses to go global with seamless payment solutions. Read the full article to see how we're shaping the future of international business payments! https://lnkd.in/d73eZ5jC #Latepost #FinTech #CrossBorderPayments #GlobalBusiness #Xflow #mediaCoverage #Fintech #FutureOfFintech

Cultivate meaningful connections with these 5 transformative tips! From a seamless transaction experience to exclusive perks, stellar 24/7 support, and engaging interactions—discover the power of turning transactions into lasting relationships! 🌟💬 #CustomerRelationships #TransformativeTips . . . . #paymentgateway #paymentsolutions #paymentprocessing #payments #ecommerce #payment #business #merchantservices #creditcardprocessing #fintech #smallbusiness #creditcard #pointofsale #money #creditcards #digitalpayments #technology #startup #finance #possystem #b #paymentsolution #digitalindia #online

Consciously chose ‘growth over profitability’, says Reeju Datta of Cashfree Payments In this FinTech Diary episode, Reeju Datta Cashfree's Co-founder, explores the impact of digital payments on seamless business transactions. From their 2015 beginnings to developing ‘FlowWise’, their payment orchestrator, and aiming for increased activity in cross-border payments, Cashfree prioritises growth over profitability, aiming to be EBITDA positive once again. Amol Dethe #cashfree #FinTechDiary #reejudatta #flowwise #paymentorchestration #digitalpayments #ebitda #fintech #fintechinnovation #profitability #transactions https://lnkd.in/gMPmim9n

Groww Pay, the UPI payments platform of Fintech unicorn broking firm Groww, has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payments Aggregator (PA). Read the full news here. https://lnkd.in/giwnU8Xg #groww #fintech #rbi #businessnews #latestnews #financenews #smbconnect

🚕💳 Revolutionizing SMBs and Gig Economy Payments: How BaaS & Real-Time Settlement Reduces Costs! 💰🛠️ Imagine this: A Taxi driver earns €100 from rides using a Tap & Pay service, charged at just 0.5% IC++. That's virtually zero margin for the PSP/Fintech. Hours later, they fuel their car with €80 worth of gas, using a card or Apple Pay issued by the same Fintech, which charges around a 1.5% fee to the gas station. 🔥🤝 This "All in One" approach – handling both cash-in (like customer payments) and cash-out (like fuel purchases) – is revolutionizing Fintech. It's not just about facilitating transactions anymore; it's about creating a comprehensive financial ecosystem that mirrors traditional banking with added agility and innovation. 💼📈 Here's why it's a game-changer: 🔹 Increased Revenue Streams: Every transaction, whether cash-in or cash-out, contributes to the Fintech's bottom line. 🔹 Improved Margins: By offering both sides of the financial coin, fintechs can optimize their fee structure, enhancing profitability. 🔹 Bank-like Reliability: This model allows fintechs to function more like banks, providing a full suite of financial services, thus attracting a broader customer base. 🔗 Dive deeper into how fintechs evolve to resemble banks, offering comprehensive, reliable financial services while maintaining their technological edge. 💬 Weigh In! 🔹 How do you see the "All in One" model shaping the future of Fintech? 🔹 Will Real-Time Settlement become the new standard? 🔹 Can this approach truly rival traditional banking methods? 🔗 More details: The Paypers - https://lnkd.in/e2FFKnxq #Fintech #Growth #Bank #InnovativeBanking #DigitalPayments #FutureOfFinance

Exploring the Paytm crisis: Insight into the fintech industry's challenges, regulatory scrutiny, and the ripple effects on startups, investors, and banking partners. @Paytm #FintechAnalysis #PaytmCrisis #fintech #banking #tech https://lnkd.in/eDREQqeT

CRED has received approval to become a Payment Aggregator, marking a major milestone in India's digital payments landscape. This approval positions CRED alongside major industry players and opens up new possibilities for merchant services, enhancing both online and offline transaction solutions. Dive into our full article to see how this impacts the fintech ecosystem and what it means for businesses across India. 🔗 Read the full story here: https://lnkd.in/gTGU2AVA #Fintech #DigitalPayments #PaymentAggregator #Cred #Innovation #MerchantServices #BusinessGrowth