This week in Setuzen spotlight ✨ Meet, Arpit Patel, SDE 2— Account Aggregator, as he talks about his role, understanding of the fintech space and his favourite Payments apps— Paytm, and CRED, Banks— HDFC Bank, and ICICI Bank, Investment app— Zerodha, and Personal Finance app— INDmoney.
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Lot of misinformation about Paytm development All mainly talk about two things. Let's address that quickly. 1 Are my mutual fund investments via Paytm at risk? Will my SIPs be affected? No. All that's via a separate company called Paytm Money, which is regulated by SEBI and not RBI. 2 Will my UPI via Paytm stop? No. That's a big miscommunication by the media, to be frank. > The likes of Paytm, PhonePe, GPay or CREDPay etc run UPI, via backend partnerships with certain banks > For PhonePe, its a mix of YES BANK and ICICI Bank. For GPay it's Axis Bank. And for Paytm, it's the sister company Paytm Payments Bank > And, it's the payments bank which has been barred. from doing UPIP transactions, not Paytm Means what? If Paytm switches its backend banking partner, the UPI payments via the app would go on smoothly. And if you would recall, when Yes Bank collapsed, PhonePe onboarded ICICI Bank in less than 18 hours or SO. So, Paytm can do that too. No big deal. Hope that clarifies all the concerns.
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*Lot of misinformation about Paytm development* All mainly talk about two things. Let's address that quickly. 1 Are my mutual fund investments via Paytm at risk? Will my SIPs be affected? No. All that's via a separate company called Paytm Money, which is regulated by SEBI and not RBI. 2 Will my UPI via Paytm stop? No. That's a big miscommunication by the media, to be frank. > The likes of Paytm, PhonePe, GPay or CREDPay etc run UPI, via backend partnerships with certain banks > For PhonePe, its a mix of YES BANK and ICICI Bank. For GPay it's Axis Bank. And for Paytm, it's the sister company Paytm Payments Bank > And, it's the payments bank which has been barred. from doing UPIP transactions, not Paytm Means what? If Paytm switches its backend banking partner, the UPI payments via the app would go on smoothly. And if you would recall, when Yes Bank collapsed, PhonePe onboarded ICICI Bank in less than 18 hours or SO. So, Paytm can do that too. No big deal. Hope that clarifies all the concerns.
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Senior Business Analyst Strategy at Accenture | Marketing Professional | MBA - Marketing & Operation |Former Summer Intern – Hensel Electric India pvt ltd| Ex- NatWest Group |
🚀 Paytm's Rollercoaster Ride 🚀 Post-IPO glory to a 65% plunge, Paytm faces challenges. RBI curbs, alleged data leaks, and regulatory breaches paint a rocky picture. Contemplating a bank upgrade, recent setbacks may hinder plans. Despite a massive user base, a 70% share drop raises doubts. Losses persist, with CEO's arrest adding to uncertainties. In a dynamic fintech landscape, Paytm navigates complexities and questions about its future. 📉🔍 #Paytm #Fintech #Challenges #BusinessJourney #yogeshrv #opportunity #connectionsthatmatter #people #networkingjourney
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*Lot of misinformation about Paytm development* All mainly talk about two things. Let's address that quickly. 1 Are my mutual fund investments via Paytm at risk? Will my SIPs be affected? No. All that's via a separate company called Paytm Money, which is regulated by SEBI and not RBI. 2 Will my UPI via Paytm stop? No. That's a big miscommunication by the media, to be frank. > The likes of Paytm, PhonePe, GPay or CREDPay etc run UPI, via backend partnerships with certain banks > For PhonePe, its a mix of YES BANK and ICICI Bank. For GPay it's Axis Bank. And for Paytm, it's the sister company Paytm Payments Bank > And, it's the payments bank which has been barred. from doing UPIP transactions, not Paytm Means what? If Paytm switches its backend banking partner, the UPI payments via the app would go on smoothly. And if you would recall, when Yes Bank collapsed, PhonePe onboarded ICICI Bank in less than 18 hours or SO. So, Paytm can do that too. No big deal. Hope that clarifies all the concerns. For information only
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Financial Services has never been an industry for the faint hearts. Looking at the Paytm Story, it seems "Fintech" is even trickier (hence more exciting too!). If a new age fintech, is still trying to find ways of monetising via regulatory arbitrage, they better rethink and realign their business model sooner rather than later. Also, profitability shouldn't be seen as just a one time milestone to be achieved before the listing. It has to be a sustainable and recurring thing. A consequence of not just an innovative business model but also an efficient management of that business, given the added complexity of traversing through the regulatory compliances. #fintechindustry #paytmcrisis
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Cred's UPI transactions in April 2023: 46 Million Cred's UPI transactions in April 2024: 138 Million Amidst the bustling Indian UPI landscape, there's a quiet revolution brewing, and CRED is carving its path with precision and promise. The UPI transactions in India have grown at a whooping 48% in the past 12 months (13.1 Billion in April 2024 vs 8.8 Billion in April 2023). While PhonePe and Google Pay have increased their market shares by 2pp & 3pp in the last 12 months, Cred has more than doubled its share to 1.06% from 0.52%. Focus on user-centric approach, rewards, seamless UI/UX coupled with Paytm's downturn have all played to Cred's advantage. While it might be too early to make any bold claims, it seems CRED is definitely on the right track. Exciting times ahead! How do you see the Indian UPI landscape changing? Would love to hear your thoughts in the comments below 💬 #upi #cred #phonepe #googlepay #india
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Finsire - Dynamic Multi Account Aggregator 🔀 Infrastructure for Loan against Mutual funds & Shares 📈 Net-worth & Asset analyzers 🔄 Let's get you stacked today with finsire.com
I will soon enough imagine and believe that the likes of CRED, Paytm, Upstox, Jupiter, Open Financial Technologies, Fi and more will soon wish to go overseas and capture a higher per-capita income customer base, given that urban India now uses these applications at max, or atleast will over the next 6-12 months. PhonePe expanding vigorously for payments is a testament & Groww starting with their NRI investing. Wherever UPI is present, and as the National Payments Corporation Of India (NPCI) expands, we may find the payments and other fintech operations in those countries. With this, other options also expand: 1. NRI banking 2. NRI Wealth management 3. Cross geography net-worth Would love to chat more if you are building around these spaces, and are from the companies looking to build for NRIs and other nationalities and citizens' financial desires.
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Regulatory storm hits Paytm Payments Bank, shaking the foundations of this once-revered fintech giant. Products caught in the turbulence: - 🏦 Paytm Bank Account - 👝 Paytm Wallet - 🚗 Paytm Fastag - 🪪 Mobility Cards ❌ Deposits face a sudden halt starting from 29th Feb 2024, amplifying the challenges for Paytm. Yet, the silver lining is: - ✅ Withdrawals remain unaffected - ✅ Paytm UPI operations continue seamlessly - ✅ BBPS (Billpay) services remain unscathed Paytm will be finding it tough, while navigating through this regulatory turbulence. #Paytm #startup #FintechChallenges 🌪️💳
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Co-Founder @ Kodesoft I Entrepreneur & Startup Helper | Closing The Gap Between Great Ideas With Great Cutting Edge Technology
Proactive steps taken by Paytm, including shifting our nodal account to Axis Bank, to ensure uninterrupted merchant settlements. Paytm's dedication toward ensuring a seamless experience for its customers serves as a valuable lesson in prioritizing customer satisfaction. #paytmkaro (uninterrupted ) #fintechinnovation #businessmindset #fintechstartup #customersatisfaction
Update: Paytm QR, Soundbox, Card machine will continue to work as always even beyond March 15. We have also shifted nodal account to Axis Bank (by opening an Escrow Account) to continue seamless merchant settlements as before More details here: https://lnkd.in/dzt6rdgk
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Vijay Shekhar Sharma Resigns as Paytm Payments Bank (PPBL) Chairman! 👉Read this news and more threads in 3 bullets, 60 words and 20 seconds. 👉Follow us for latest updates on investment ecosystem. . #bolstart #bolstartnews #angelinvestor #startupnews #investment #investor #funding #AI #AIstartups #AIinnovation #paytmbank #vijayshekarsharma
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