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Buy now, pay later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them at a future date. [1] BNPL is generally structured like an installment plan money lending process that involves consumers, financiers, and merchants. Financiers pay merchants on behalf of the consumers when goods or services are ...
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [ 1 ] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
Financial technology (also called FinTech) is an industry composed of companies that use technology to offer financial services. These companies operate in insurance, asset management and payment, and numerous other industries. FinTech has emerged as a relatively new industry in India in the past few years. [citation needed]
Bangalore-based fintech startup Simpl has raised $40 million as it looks to expand its online buy now, pay later service’s offerings in the world’s second-largest market. Valar Ventures and IA ...
Paytm (an acronym for " pay through mobile ") is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. [ 4 ] Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables ...
In 2021, the company acquired Payback India, a "multi-brand loyalty programme". [7] [8] In April 2024, BharatPe elevated Nalin Negi as its CEO, 15 months after he took over as the interim CEO and CFO in January 2023. [9] On 20 August 2024, BharatPe announced extending its credit offerings for its merchants to secured loans.
Later, the company expanded into ticketing, bill payment, banking, and micro ATM services. [6] [7] It operates as a wholly-owned subsidiary of Digispice Technologies. [8] In 2015, Spice Money received license to operate as a PPI from RBI and in 2017, the company launched its micro ATM and bill pay services.
Country. India. Introduced. 11 April 2016; 8 years ago (2016-04-11) Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M ...