TPV
PayU India FY24 consolidated revenue rises 22% to $1.1 billion
Prosus's fintech arm, PayU, reported a consolidated revenue increase of 22% in FY24, reaching $1.1 billion. This growth can be attributed to the success of their Payment Service Provider (PSP) businesses in India and Turkey, alongside continued expansion in their India credit operations and the global payment operations (GPO) business.
PhonePe users can now make payments through UPI in Singapore
PhonePe enables UPI payments in Singapore through a pact with The Singapore Tourism Board, enhancing cross-border transactions for Indian visitors. The collaboration includes joint marketing efforts and over 8,000 merchants for seamless transactions.
BharatPe logs nearly three-fold revenue growth in FY23, trims losses
BharatPe, in a release, said its financial performance for the fiscal year 2023, showcased substantial growth and strategic advancements across key business segments.
Dunzo’s survival hinges on Reliance; Q&A with Instacart founder Apoorva Mehta
Reliance Retail, which is an investor in Dunzo, is yet to sign off on a much-needed capital infusion in the cash-strapped company. All about this and more, in today’s Morning Dispatch.
PhonePe among top fintech companies with $1.3 trillion total payment value: Walmart
Walmart, the world's biggest retailer, said its digital payments firm PhonePe has a total payment value (TPV) of $1.3 trillion, equalling some of the largest fintech players in its home market of the US, indicating the Indian firm’s market cap potential when it lists.
PayU India H1 FY24 payments income rises to $211 million; fintech shutters LazyCard business
The growth in revenues largely came from its existing merchants and payment processing stack Wibmo, as new merchant signups continued to be paused for the Indian entity after an order from RBI.
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BharatPe turns Ebitda positive; clocks October 2023 as the first profitable month
Without giving out the actual number, BharatPe in a statement said the financial milestone was attributed to consistent growth across all business lines.
RBI returns Instamojo’s PA application; firm intends to reapply
After receiving the final status on its application in September this year, Bengaluru-based Instamojo has ceased operations of its payment gateway business, as per regulations, and has onboarded licenced PAs to ensure business continuity for its merchants.
You can now invest in mutual funds using Visa debit cards
This initiative is live with leading fund houses and distributors and investors can invest in lumpsum or start SIPs using their Visa debit cards.
Walmart reports strong sales for Flipkart, transaction growth for PhonePe
Walmart’s international segment sales were up 11%, helped by double-digit growth in India among other geographies, said John David Rainey, executive vice president and chief financial officer at Walmart.
PayPal's weak margin eclipses upbeat spending outlook
Underwhelming margins at PayPal have been worrying analysts in recent quarters. The company's low-margin business products have grown strongly, while growth in its branded products has slowed due to increased pressure from competitors like Apple .
Flipkart logs double-digit sales growth, adds to Walmart net
Judith McKenna, president and CEO of Walmart’s international business, said that the company is pleased with PhonePe’s progress and that it crossed $1 trillion in transaction processed value (TPV).
Sales grow quickest via q-commerce for packaged goods, RBI may regulate PoS players
Happy Friday. Packaged goods brands are riding the ultrafast delivery boom despite an overall slowdown in the sector due to the ongoing funding squeeze. This and more in today's packed edition of ETtech Morning Dispatch.
Paytm loan disbursals rise three-fold to Rs 12,554 crore in March quarter
Total payment value processed by merchants on the platform stood at Rs 3.62 lakh crore for the quarter ended March 2023, amounting to 40% year-on-year growth, the company said in a filing with stock exchanges.
BharatPe's point of sale vertical turns profitable
BharatSwipe contributes over 20% to the overall payments transaction processed value of the company annually. BharatPe has an installed base of close to 2 lakh PoS machines across more than 250 cities in the country.
BharatPe hits $20 billion in annualised TPV, leaves Ashneer saga behind
BharatPe facilitated over Rs 3,600 crore in loans in Q1 FY23, growing 112% over the last quarter.
Razorpay eyes $90 billion TPV by 2022, launches new solutions to enhance payment experience
The unicorn, which is backed by investors like Tiger Global, Sequoia Capital India and Mastercard, has announced the launch of three new products that are aimed at simplifying payment management processes for businesses.
Razorpay set to achieve $90 billion TPV by 2022, launches products to help SMEs
Razorpay’s new products will help SMEs spend less time managing compliance and operations and more time creating new products.
PhonePe logs $388 billion in annual TPV run rate, crosses 1 bn UPI transactions in March
The company, which competes with players like Paytm and Google Pay in the Indian digital payments market, said it has crossed the one-billion mark in terms of UPI transactions in the month of March.
Razorpay sets sight to achieve $50 billion TPV by 2021
In the last six months, Razorpay has witnessed a 40-45% month-on-month growth. The company recently became an unicorn.
Philips eyes over 50% growth in India audio biz next year
Last year, Taiwan-based TPV Technology had received the rights for Philips' TV range as well as audio products for the Indian market that includes aspects like manufacturing, marketing and sales.
PhonePe clocks 335 million transactions in July
PhonePe’s TPV run-rate has grown nearly 5X in the past year, since crossing the $20Bn mark in June 2018.
Philips TVs to make a comeback into India in tie-up with Taiwan's TPV Technology
Riding on the high brand value of Philips among the Indian consumers, TPV Technology is aiming to be among the top five brands here in the TV segment and capture a market share of 6 to 8 per cent by December 2020.
Philips to bring back Televisions, gives India rights to TPV Technology
TPV plans to relaunch Philips first in Indian e-commerce marketplaces and then to brick-and-mortar chains and will hire Philips TV team from Videocon, they said.
TPV Technology appoints Saurabh Grover as country head - India & Saarc
Grover will be based out of AOC India’s headquarters in Gurgaon, and will be responsible for managing the overall business operations for India and Saarc.
TPV Technology appoints Saurabh Grover as country head
TPV Technology, which manufactures and sells LED and LCD displays under AOC brand globally, today announced the appointment of Saurabh Grover as Country Head.
AOC targets Rs 400 crore turnover by next calender year
The company has also doubled its marketing budget for the television business to Rs 80 cr for next year as against Rs 40 crore earmarked for 2013.
AOC targets 10% market share in flat panel TV segment
TPV Technology of Taiwan, which owns the AOC brand, is targeting to capture 10% of the flat panel TV segment in the country by next yr, a co official said.
Healthcare, lighting business becoming more profitable than consumer electronics: Philips
Philips, once a household name in India, has shed its image of a hardcore consumer electronics brand to become a healthcare and well-being brand
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