NEW DELHI: High taxes on cryptocurrency transactions in the country may “kill the industry” in India, Binance chief executive Changpeng Zhao said on Thursday. Addressing an event on the global fintech industry in Singapore, Zhao said the tax rate will likely be the cause for India’s crypto industry to be stifled. For instance, on WazirX, India’s largest crypto exchange by …
PhonePe, owned by Walmart-backed Flipkart, is “partially” spinning off, the Bangalore-based financial services firm said on 3 December 2020. The new round gave PhonePe, which was founded by three former Flipkart employees, a post-money valuation of $5.5 billion. This partial spin-off gives PhonePe access to dedicated long-term capital to pursue our vision of providing financial inclusion to a billion Indians.‘’ …
The digital payments space in India is about to undergo a massive shakeup, particularly for payment services that rely on the UPI, or Unified Payments Interface, payments platform. The National Payments Corporation of India has made it official that a new cap will be applicable from January 1, 2021 which mandates that no Third Party App Providers can exceed more …
PhonePe on Monday said it has crossed the 250 million registered user milestone. "PhonePe had a record month in October, processing 925 million transactions - its highest so far - with an annual TPV run rate of USD 277 billion. PhonePe also processed 835 million UPI transactions in October, for a market leading share of over 40 per cent," it …
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