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<ul><li>India is now being recognized as one of the largest fintech unicorn ecosystems, home to 21 fintech unicorns.</li><li>Growing adaptation of technology, higher disposable income and young population is aiding the growth of financial technology which has big players like <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, <keyword id="1763236" type="General" weightage="20" keywordseo="cred" source="Orion">Cred</keyword>, <keyword id="3711711" type="General" weightage="20" keywordseo="simpl" source="Orion">Simpl</keyword> etc.</li><li>Fintech growth in sectors like agriculture, retail, health and property technology will also accelerate the growth.</li></ul>The Indian fintech market is expected to grow ten times and have assets to the tune of $1 trillion asset under management by 2030, says a report by Chiratae Ventures and EY. This growth will come on the back of government initiatives such as Digital India, Smart City, the development of UPI, the report says. Growth will be driven by the digital lending market, which is expected to grow to $515 billion in book size by 2030 and a revenue of $200 billion. “India is now being recognized as one of the largest fintech unicorn ecosystems, home to 21 fintech unicorns as of March 2022,” says the report titled ‘$1 Tn India FinTech Opportunity’. Growing adaptation of technology, higher disposable income and young population is aiding the growth of financial technology which has big players like Paytm, Cred, Simpl, <keyword id="2777173" type="General" weightage="20" keywordseo="razorpay" source="Orion">Razorpay</keyword>, Instamojo, Lendingkart and many others. Popularity of ‘<keyword id="4585897" type="General" weightage="20" keywordseo="buy-now-pay-later" source="Orion">buy now pay later</keyword>’ <a href="https://www.businessinsider.in/personal-finance/news/how-does-buy-now-pay-later-schemes-work-and-what-are-the-penalties-here/articleshow/87788629.cms">(BNPL) </a>products and services has also fueled the growth of the industry both in B2C and B2B payments space. Just like credit cards, <a href="https://www.businessinsider.in/personal-finance/news/how-does-buy-now-pay-later-schemes-work-and-what-are-the-penalties-here/articleshow/87788629.cms">BNPL schemes </a>allow you to buy products beforehand and pay the total amount in installments. According to TC Meenakshi Sundaram, co-founder and vice chairperson at Chiratae Ventures, fintechs have innovated for the underserved financial markets. The ecosystem has been supportive too. “These include fast-growing digital adoption and mobile penetration on the back of the cheapest data rates in the world offered by private telecom players, to enabling regulatory environment coupled with world-leading digital infrastructure (Aadhar, UPI, BBPS etc), and structural reforms and initiatives (GST, TReDSetc.),” said Sundaram. Fintech has also been growing in sectors like agriculture, retail, health and property technology. The report states that payments, digital lending, wealthtech, insurtech, and neo-banking will all be contributing to growth in the fintech space with agri+fintech and prop+fintech considered to be big bets. “India is recognized as a strong fintech hub globally and is increasingly becoming a talent destination for fintech businesses,” said Rajiv Memani, chairman and managing partner at EY India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/not-only-foreign-investors-but-indian-retail-investors-also-seem-to-be-losing-faith-in-markets/articleshow/93457258.cms">Although FII flows have reversed, retail investor confidence remains low thanks to macro concerns</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/goa-hotels-had-the-most-occupancies-and-they-earned-more-too-says-report/articleshow/93456193.cms">Goa hotels had the most occupancies and they earned more too, says report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/only-12-delhi-covid-19-cases-are-in-official-records-says-report/articleshow/93446996.cms">Only 12% Delhi Covid-19 cases are in official records, says report</a>

Indian fintechs to grow 10x and manage assets worth $1 trillion by 2030

<ul><li>CRED launched two new products for its users – CRED <keyword id="4484421" type="PERSON" weightage="20" keywordseo="RentPay">RentPay</keyword> and CRED Stash, available to users who have a <keyword id="6380214" type="PERSON" weightage="20" keywordseo="credit-score">credit score</keyword> of 750 and above.</li><li>CRED RentPay allows users to pay their rent on credit.</li><li>CRED Stash allows users to avail an instant line of credit up to ₹5 lakh. </li></ul><keyword id="6368202" type="UNKNOWN" weightage="20" keywordseo="credit-card">Credit card</keyword> payment app CRED has introduced two new features – CRED RentPay and CRED Stash in India. CRED RentPay allows users to pay one of their highest recurring expense - monthly rent on credit. CRED Stash is an instant <keyword id="173215" type="PERSON" weightage="20" keywordseo="credit-line">credit line</keyword>. In addition to allowing users to pay their rent, CRED is reportedly also working on allowing users to make payments such to landlords such as maintenance charges and security charges using their credit cards. CRED RentPay The first product, CRED RentPay allows users to free up cash by paying rent on credit. Users can pay their household rent using their credit cards from the CRED app. By using this, users will be able to get an interest-free credit period on rent, earn reward points on their credit cards and earn CRED coins when they pay their credit card bill on the CRED app. To use the new CRED RentPay feature, users will have to add their landlord’s bank account or UPI details into the app. This will allow users to directly transfer the rent from their credit card to the landlord’s account. CRED will charge users a transaction fee of 1% - 1.5% depending on the user’s credit card network. This means that if you are using CRED RentPay to pay ₹20,000 rent, you will have to pay ₹200 - ₹300 to CRED. CRED Stash CRED Stash has been launched as a pilot with IDFC FIRST Bank and the company has claimed that it is the only offering of its kind in India. The company has added that it will scale up with other bank partners on completion of the pilot. CRED Stash is an online instant line of credit that will allow CRED users to quickly get credit without having to go through the application and verification process. CRED users will get a pre-approved credit line of up to ₹5 lakh and users will be able to withdraw any amount within their pre-approved limit. Users will be able to select the tenure for the loan. CRED claimed that the interest charged is a third of the interest rates charged on credit cards. The pre-approved limit will depend on the user’s credit score and credit card limit. See also: <a href="https://www.businessinsider.in/finance/news/how-to-avail-three-month-moratorium-for-sbi-emi-and-credit-cards/articleshow/74945199.cms">How to avail three-month moratorium for SBI EMI and credit cards</a> <a href="https://www.businessinsider.in/india/news/how-to-avail-three-month-moratorium-for-icici-bank-emi-and-credit-cards/articleshow/74941936.cms">How to avail three-month moratorium for ICICI Bank EMI and credit cards</a> <a href="https://www.businessinsider.in/india/news/mukesh-ambanis-reliance-industries-loses-30000-crore-in-the-first-few-minutes-of-trading/articleshow/75263790.cms">Mukesh Ambani’s RIL loses ₹30,000 crore in the first few minutes of trading</a>

Here is how you can pay your rent using your credit card

<ul><li>CRED, that recently entered the unicorn club with a $2.2 billion valuation, has launched a new IPL campaign for season 14. </li><li>The ad features Rahul Dravid and actor Jim Sarbh.</li><li>Rahul Dravid, who is known to be one of the cool-est cricketers on the pitch, is seen in an avatar we thought we would never, ever see.</li></ul>CRED, the credit bill paying platform that is known for its unique ads, has launched its much-awaited IPL ad. It is reminding people to pay their bills on time in the most entertaining way possible, by making the coolest ever cricketer lose his cool. You are lying if you say you haven’t imagined at least a 100 different scenarios in your head to smash the side-mirror of a car in front of you while driving in Bangalore or Mumbai. However, we did not expect the zen Rahul Dravid to react like we do in traffic. Apart from breaking other bowlers patience, we have never seen Dravid break anything or lose his cool at all. CRED has unleashed an unseen side of Dravid in its latest ad and everyone is shook, including Virat Kohli. Commenting on the ad, RCB’s Captain wrote, “Never seen this side of Rahul bhai." <div type="twitter" handle="imVkohli" handlename="Virat Kohli" image="http://pbs.twimg.com/profile_images/1308286636468219904/a61d79ts_normal.jpg" favoritecount="74838" retweetcount="10319" status="Never seen this side of Rahul bhai 🤯🤣 https://t.co/4W93p0Gk7m" createdat="1617960315000" id="1380451732690411521"></div> The Bangalore-based platform’s IPL ad has already started a meme fest. <div type="twitter" handle="AksharPathak" handlename="Akshar" image="http://pbs.twimg.com/profile_images/1270581243294486529/xna6UsXL_normal.jpg" favoritecount="1409" retweetcount="99" status="@imVkohli *teacher steps out*entire class: https://t.co/nKJBrC1G3Q" createdat="1617961694000" id="1380457518661431296"></div> <div type="twitter" handle="FarziCricketer" handlename="Silly Point" image="http://pbs.twimg.com/profile_images/1380401554973368320/WMvJVMn2_normal.jpg" favoritecount="1749" retweetcount="188" status="@imVkohli Rahul sir calling someone back before double century. https://t.co/7POAeIhNFg" createdat="1617961777000" id="1380457865949839361"></div> <div type="twitter" handle="TrollHaiklu" handlename="ಟ್ರೋಲ್ ಹೈಕ್ಳು" image="http://pbs.twimg.com/profile_images/875542674010324992/HbuT-rQm_normal.jpg" favoritecount="279" retweetcount="14" status="@imVkohli Everyday on silk board junction https://t.co/NwFFohT550" createdat="1617961915000" id="1380458443799023616"></div> <div type="twitter" handle="EntropyPositive" handlename="Positive entropy" image="http://pbs.twimg.com/profile_images/1377609119960457222/erfwCgcD_normal.jpg" favoritecount="1148" retweetcount="38" status="@imVkohli Me after seeing this side of Rahul Dravid Sir😌 https://t.co/gorm76Zick" createdat="1617960522000" id="1380452603478208513"></div> <div type="twitter" handle="swatic12" handlename="SwatKat💃" image="http://pbs.twimg.com/profile_images/1178333152827326466/Ifm0l-qX_normal.jpg" favoritecount="177" retweetcount="20" status="No oneBig boss contestants 5 minutes after waking up : https://t.co/1U9YhKwInc https://t.co/EWcbRf8vq3" createdat="1617964323000" id="1380468544408797185"></div> The ad starts with actor Jim Sarbh sharing the benefits of using CRED. He says, “When you pay your Credit Cards bills on CRED, you earn CRED coins. Use them to claim cashback and rewards. I know this sounds ridiculous. It is like saying Rahul Dravid has anger issues." And then Dravid, who is known for his calm and peaceful demeanor, can be seen stuck in traffic, yelling at the top of voice. He breaks the side-mirror of a car next to him with a bat, (funny how he keeps a bat handy since you never know when duty might call), and climbs out of the car’s roof to yell, “Indiranagar ka gunda hun main." Dravid's angry avatar also reminded us of Ross Geller from Friends when he loses his cool over his favourite Turkey sandwich. <div type="image" title="ross geller my sandwich" msid="81988567" hostid="261"></div> CRED’s honest YouTube description is a cherry on the top. It reads, “Hi, this is Rahul Dravid writing the description for this video. Sorry, I lost my temper there. I am meditating these days.” Last year, CRED’s ad campaign was one of the most talked about series during IPL. What helped the CRED series become so popular was the fact that for once, we saw celebrities not taking themselves seriously and it came like a breath of fresh air. It also easily broke the clutter by not featuring a cricket celebrity. And this year too, CRED has taken an unconventional approach. We can't wait to see what else the brand has in story for us. CRED has also signed a three-year deal with IPL, which began in 2020.

CRED’s much-awaited IPL 2021 campaign is here and it has already sparked a memefest on Twitter

<ul><li>Indian <keyword id="9648057" type="General" weightage="20" keywordseo="ott-viewers" source="Orion">OTT viewers</keyword> are frustrated by juggling between 2-3 platforms on average to catch the latest content.</li><li>Since more expansion is expected in the market, an aggregator who would bring the best and offer it under one roof is in the offing.</li><li>As per a recent report by PwC, the OTT market is now ripe for aggregation.</li></ul>Before the fintech app CRED launched, Indian consumers downloaded at least 2-3 banking apps to pay their credit bills. CRED identified this gap and consolidated them all under one platform, for a small commission. The next market that’s desperately in need of an aggregation is the OTT market – which has over <a href="https://www.exchange4media.com/digital-news/ht-medias-ott-play-premium-service-eyes-15-million-paid-subs-by-year-end-120746.html">55 </a>offerings. “The largest streaming services in the market are Disney+ Hotstar, Amazon and Netflix. The country also has a vast array of smaller local SVODs, including provisions from local broadcasters like Zee TV and premium cinema providers like Eros Now. Due to its size and diversity, the market is ripe for aggregation,” says a report by PwC. Many streaming services, many more subscriptions Apart from the national offerings, Indian OTTs have become specialized and niche over time with regional offerings like Hoichoi, Aha, Sun Nxt and more. Since more expansion is expected in the market, an aggregator who would bring the best and offer it under one roof is in the offing. In fact, <keyword id="758541" type="General" weightage="20" keywordseo="amazon-prime" source="Orion">Amazon Prime</keyword> has also started this with Prime Video Channels but has eight channels that users can subscribe to and pay at one go. Such offerings can only expand from here. Most <keyword id="13730389" type="General" weightage="20" keywordseo="ott-users" source="Orion">OTT users</keyword> have more than 2 subscriptions According to media consulting firm Ormax Media, the average number of video streaming subscriptions per person has reached 2.4 in India – since no one OTT can replace what hundreds of channels provided earlier. Currently, platforms like Tata Play, OTTplay, YuppTV Scope, ScreenHits TV and Airtel offer subscriptions to a few OTT services under one roof – but the choice, like in the case of Amazon Prime, is limited. Times Prime offers 15+ OTT subscriptions under one roof. "We are pulling out all the stops to ensure that our members get the best experiences under one umbrella. The Times Prime app, which is super easy to use, is the perfect product for consumption of content in today's subscription environment," says Harshita Singh, business head of Times Prime. 33-year-old Mumbai resident Khushboo Alag watches content across four <keyword id="5293670" type="General" weightage="20" keywordseo="ott-platforms" source="Orion">OTT platforms</keyword>. She has subscribed to two of them, and shares two more with her family. “I have tried a couple of aggregators but I haven’t found the one yet that offers personalized experience. Existing apps haven’t been helpful and I am still looking for that one space where I could just log in to watch all the content that I am interested in,” says Alag. Some entertainment lovers have bought a smart television or a firestick to easily juggle through different OTT platforms on their television set. Firestick is just not enough, say users Vaamanaa Sethi, a Delhi-based resident, is one such user who has access to Amazon Prime, Disney+ Hotstar, Netflix and ZEE5 — thanks to her firestick. “We need an aggregator that can allow us to select which movie we want to watch under one roof. If I want to watch a movie and it is not available on Netflix, then I can easily switch to Amazon Prime. I don’t want to struggle,” says Sethi. Then there is the problem of managing and paying multiple subscriptions. Chaittali Dave, a Mumbai resident who is a mother of twins, said that she can’t watch OTT content on her television set. She is hoping to find a mobile-agnostic aggregator. “I can’t watch Mirzapur on television in front of my kids. You can use a firestick or Tata Play if you live with a nuclear family,” says Dave. 23-year-old Mumbai resident Shraddha Khaire is particularly a movie buff. She has subscribed to 6-8 OTT apps and says that it has been a frustrating experience for her to pay a premium price for one movie. “There have been times that I had to subscribe to a whole new OTT just to watch that one show or movie, and let’s not forget the premium charges for the same,” shared Khaire. Her experience with teleco aggregators hasn’t been very pleasant either. She hopes a new aggregator will make the whole experience very seamless, simple and efficient for me as a regular user of various OTTs, such as her. “There will be a single sign-up, single ID for accessing multiple platforms. While telcos like Jio and Airtel, DTH services like Tata Sky, etc., offer an array of OTT services, but you need a connection to these services to access the OTTs. Overall, I think if there was a platform that offered access to a bundle of more streaming services, I wouldn’t mind going for it,” adds Khaire. Disclaimer: Business Insider India is a part of Times Internet India

A CRED-like platform is what Indian OTT users want to juggle multiple subscriptions

<ul><li><keyword id="1763236" type="PERSON" weightage="20" keywordseo="CRED">CRED</keyword> to feature 90s legendary Bollywood icons in its IPL campaigns, kicks off the first film with <keyword id="6354700" type="DEFINITION" weightage="20" keywordseo="Anil-Kapoor">Anil Kapoor</keyword>. </li><li>CRED rejects Anil Kapoor in its hilarious ad because ‘Not Everyone Gets It.’</li></ul>CRED has come on board as the official partner of the most awaited event of the year, the Indian Premier League 2020. While the country awaits the start of the cricketing spectacle, CRED has kickstarted the journey of making this year’s IPL more rewarding for all players and viewers with a host of activities that would upgrade the experience for CRED Members. In line with the same, CRED also launched their latest campaign - ‘CRED: Not Everyone Gets It’ - featuring three ad films slated to launch over the course of the tournament, and starring leading Bollywood actor Anil Kapoor along with other iconic celebrities from the 90s, that promises to entertain and spread CRED’s message. <div type="Youtube" id="iW63vNsF8ck" title="Not everyone gets it | CRED | Anil Kapoor" thumbUrl="https://i.ytimg.com/vi/iW63vNsF8ck/mqdefault.jpg"></div> Through these creative and fun ad films, CRED aims to amplify its messaging of how easy it is to manage timely credit card payments through the app and also getting regularly rewarded for good financial behaviour. The campaign launched on 19th September with the launch of the first film starring Anil Kapoor. The veteran actor will bring home the message of paying credit card bills on time in his unique, inimitable style which has made him a favorite since the 90s, across generations of audiences from millennials to their parents. To keep up the momentum, two more films featuring other much loved Bollywood celebrities will be released over the next month to join in the celebration. The campaign is truly a memorable and comedic take on CRED’s messaging that has been conceptualized entirely by the in-house team and brought to life by Ayappa KM, Co-founder, Early Man Films, the production agency. Speaking about this exciting campaign to kickstart the IPL Season, Trupthi Shetty, Lead - Growth and Engagement at CRED, said “We are extremely excited to be associated with IPL 2020. At CRED, we believe in rewarding good financial behaviour and with this campaign, we are positive that our message of encouraging financial literacy and educating viewers on the rewarding benefits of responsible financial behaviour would come through in an entertaining manner. With Anil Kapoor and others lending their inimitable styles and unique personalities to each video, we are sure audiences would definitely relate to this campaign and our association would be off to a rewarding start.” Sharing these views, Anand Menon, Executive Producer &amp; Co Founder, Early Man Film said “It was a massive challenge for us to turn around this production keeping in mind the current scenario. But the fact that we had an opportunity to use these celebrities in a unique and entertaining way to tell the CRED story, made the effort worthwhile. We hope everyone enjoys these films and they bring a much needed smile to people’s lives.“ The campaign launched on 19th September with Anil Kapoor on CRED’s <a href="https://twitter.com/CRED_club">Twitter</a> page, with major promotions across digital and television. This would be followed by the second and third videos, with other celebrities highlighting CRED’s take on timely bill payments, over the next 30 days.

Watch Anil Kapoor 'audition' for CRED's first campaign to be aired during IPL

<ul><li>This year, Indian Premier League will be held in closed stadiums and in UAE. However, that hasn't led in any decrease in excitement for both the audiences and brands.</li><li>With many brands coming on board as sponsors for this edition of the sporting extravaganza, we will talk to some of the prominent sponsors to understand how they want to use the platform to strengthen their presence.</li><li>In today's interview, <keyword id="9937067" type="UNKNOWN" weightage="20" keywordseo="trupthi-shetty">Trupthi Shetty</keyword>, Lead- Growth and Engagement, <keyword id="1763236" type="PERSON" weightage="20" keywordseo="CRED">CRED</keyword> tells us all that the Credit Card payment company is planning for its first stint as the official partner this year.</li></ul> As we come closer to this year’s edition of the Indian Premier League, things are slowly getting heated up. More and more excitement is building with each passing day and new sponsors are coming on board to make the most out of one of the most-watched sporting events in the country. It is obvious that things will be different in the league this year. With no audiences in the stadiums, the entire experience will be different. However, this hasn’t led to any decrease in the advertiser’s excitement around the tournament. So we thought of reaching out to some of the prominent sponsors this year and understand how they are going to use this platform to strengthen their relationships with their consumers. In the first interview in this series, we bring to you a conversation with Trupthi Shetty, Lead- Growth and Engagement at CRED. Board of Control for Cricket in India (<keyword id="6354756" type="UNKNOWN" weightage="20" keywordseo="bcci">BCCI</keyword>) has roped in CRED as the official partner for <keyword id="7463791" type="UNKNOWN" weightage="20" keywordseo="ipl-2020">IPL 2020</keyword>. The brand, that has struck a three-year deal is a first-time sponsor and has quite a few innovative plans in place to make the most out of this association. Excerpts: Q) This is your first year as a sponsor for IPL. What do your marketing plans look like? We are excited to partner with one of the country’s most popular sporting events. This year, unlike others before, the pandemic has led to more of a focus on digital with events and activations being moved to virtual. This is exciting for us since CRED has focused on creating rewarding digital experiences for the community for quite a few months. Our community of affluent, high-trust members has a fan base in cricket and we want to use marketing to reach out to them and establish the narrative that credit cards are better with CRED. There are two focus areas that all our marketing plans would be centered around. The first is to use IPL’s reach to drive messages surrounding financial and credit literacy- an integral part of our mission at CRED. The second is to leverage our position as a brand discovery platform amongst the mass affluent to partner with brands and create rewarding experiences centered around matches that are high on engagement. The digital experiences we are creating for members include exciting cashbacks, partnerships with brands and even the opportunity for members to contribute to a relevant cause. There are plenty more activations planned and we will be able to share details about these once they are finalized. Some of the experiences planned include: • Members who pay their credit card bills on CRED during CRED Power Play - the Most Rewarding Overs will win assured cash-back with individuals standing a chance to get 100% of their credit card bill paid by CRED. • We have partnered with GiveIndia to have CRED members raise funds for an NGO- Sports Coaching Foundation. Through CRED Causes, members will be able to use their CRED coins to sponsor cricket training of the underprivileged youth across the country. • We have also partnered with leading premium brands such as OnePlus, Myntra, Ajio, Puma, Lalit Hotels, CROSS, Tata Cliq, JioSaavn, Audible, CureFit, Dineout, Syska, Samsung, Motorola, RBL (Reliance Brands), Hugo Boss, JioSaavn and WROGN to create and offer rewarding products, services and experiences to members. Q) The format is different this year. So how do you think things will be different for you as a sponsor? While the format of the IPL is slightly different this year, we don’t believe that things will be drastically different. It’s important to remember that in-stadium audiences and on-ground activations are just one part of what the IPL has to offer brands. What’s more important are the millions of Indians who tune in to watch the IPL at home from their screens. The IPL is a celebration that isn’t limited to stadiums but happens in everyone's homes. We are focused on creating rewarding experiences intertwined with each game that viewing audiences can enjoy from the comfort of their homes. Considering the fact that we have been creating these types of digital experiences for our members long before the IPL, we believe that the newfound focus on digital is an advantage that we can stand to gain from. Q) As a sponsor, what are your expectations from IPL 2020? With millions of Indians slated to watch the IPL this season, our partnership goes beyond the need to create awareness for the brand. Part of our mission at CRED is to educate the masses about managing their finances, more specifically, managing credit better. The association with the IPL will bring us closer to this goal, helping create widespread awareness about the importance of paying your credit card bills on time. Our target audience is primarily the first-generation wealthy, those who might be the first in their families to use products such as credit cards. Through the unique constructs and rewarding experiences we create for members, we will be able to build excitement and awareness about a product that helps people use their credit cards better. We are also looking forward to leveraging the sporting event’s reach to educate people about the plethora of products, services, and experiences they can avail as rewards on CRED for doing something as simple as paying their bills on time. Q) How do you plan to engage more closely with consumers, considering activations won’t be allowed this year and there won't be a live audience? Will Digital and TV be your biggest bets? At CRED, we specialize in creating unique and rewarding digital experiences for our members. During the IPL season, we will continue our focus on digital, creating engagements that audiences can access while watching the matches on their screens. These will be unique and rewarding experiences centered around the game, creating memorable experiences for members for each match that they watch. The experiences and constructs planned do not take away from the game and are rewards that members can avail while they are watching the game from their homes.

IPL 2020: How first-time sponsor CRED plans to make the most of its IPL association

<ul><li>Apart from a slight dip as the nationwide lockdown started, UPI’s numbers had been growing constantly until January 2021.</li><li>While there’s no beating <keyword id="6357886" type="UNKNOWN" weightage="20" keywordseo="phonepe">PhonePe</keyword>’s phenomenal growth in the space, what’s noticeable is <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>’s rise in the segment.</li><li>Paytm’s growth in UPI comes as the payments method sees widespread adoption from merchants.</li></ul>With the COVID-19 pandemic, the move to digital has become even more important and with that, the growth of India’s financial technology players. Over the past one year, UPI or United Payments Interface, India’s burgeoning digital payments bet, has seen exponential growth and taking home the biggest shares in the market are players like PhonePe, Paytm and <keyword id="2750705" type="PERSON" weightage="20" keywordseo="Google-Pay">Google Pay</keyword>. Apart from a slight dip as the nationwide lockdown started, UPI’s numbers had been growing constantly until January 2021. <div type="image" title="UPI 2020 final" msid="81527645" hostid="261"></div> But what’s interesting is how the top three players are vying for a bigger share of the market. <div type="image" title="upi apps 1" msid="81527655" hostid="261"></div> While there’s no beating PhonePe’s phenomenal growth in the space, what’s noticeable is Paytm’s rise in the segment, even while Google Pay, which was once the leader in UPI has been seeing its numbers decreasing for the past four months. <cmsannotation type="cmsannotation" annotationid="Merchants – the next big driver" comment="subhead" text="Merchants – the next big driver">Merchants – the next big driver</cmsannotation> Paytm’s growth in UPI comes as the payments method sees widespread adoption from merchants. And that’s also where the current market leader PhonePe has been winning the game. “Paytm has traditionally been much stronger in the P2M (peer to merchants) segment than the P2P (peer to peer) segment, as the usage of UPI starts to become more and more for commerce, that is where Paytm has gained. Google Pay has been a more consumer app, while PhonePe has been both. Ultimately, how much P2P payment will happen, what drives payments is commerce,” Shishir Mankad, head of financial services, Praxis Global Alliance told Business Insider. Narendra Yadav, Vice President, Paytm told Business Insider that P2M transactions are 70% of Paytm’s overall transactions, whereas for UPI overall that share is around 40%. But Yadav also said that the company’s dominance in merchants is not yet completely visible in UPI. “Our focus has been on merchants – online or offline. Whenever merchant transactions are increasing, Paytm will benefit. And after COVID-19, merchants have been moving to digital transactions where Paytm is also seeing huge growth,” he said. Business Insider has sent queries to Google Pay and PhonePe. We will update the copy if and when there is a response. <cmsannotation type="cmsannotation" annotationid="Success rate of UPI transactions" comment="subhead" text="Success rate of UPI transactions">Success rate of UPI transactions</cmsannotation> Paytm said that as per a NPCI report it registers the lowest technical decline rate of 0.01% as compared to all UPI remitter banks and 0.04% as compared to all UPI beneficiary banks. “Paytm’s success rate in UPI is much better, and there’s no one who comes closer to that,” said Yadav. However, Gupta believes that when compared to the likes of Google Pay the reasons are beyond the company. “The reason lies with banks and not Google Pay. Paytm has an advantage because it's a payments bank, so it controls the entire stack which basically means a lower failure rate. Having said that Google Pay works with three or four major banks and failure rates aren’t just dependent on banks but also NPCI’s UPI stack,” Arnav Gupta, analyst at Forrester told Business Insider. <cmsannotation type="cmsannotation" annotationid="Adopting new users in UPI" comment="subhead" text="Adopting new users in UPI">Adopting new users in UPI</cmsannotation> The acceleration in UPI also means new users and new payers being added to the ecosystem. And players have also been spending on marketing to get these users. Both Paytm and PhonePe have gone on to sponsor Indian Premier League, the glam cricketing tournament. “These numbers are dependent on the kind of marketing and ad spending these companies keep doing. Transactional volumes are always increasing, and with that the average transaction ticket size is also increasing. Digital adoption by the consumers is on the higher side especially due to the COVID-19 pandemic, a lot of new users and new payers were added to the ecosystem,” said Gupta. The Vijay Shekhar Sharma-led company had recently said that it processes 1.2 billion transactions in a month. In January 2021, Walmart-owned PhonePe had said it processes over a billion monthly transactions. “PhonePe now has more than 275 million lifetime registered users, which essentially means that one in every five Indians now has PhonePe. Our monthly transaction count is up nearly 100% year-over-year. Our monthly active users (MAU) has crossed 110 million monthly users with a very healthy 97% monthly customer repeat rate. Even in terms of monetary value, our annualised total payment volume (TPV) run rate has crossed the $300 billion mark,” PhonePe’s chief executive Sameer Nigam had said during Walmart’s fourth quarter earnings. Meanwhile, Paytm knows it has a long way to go in the UPI ecosystem. The $16 billion startup has also announced, on Monday, that its UPI handles have been approved by India stock regulator Securities and Exchange Board of India for users to pay for IPOs. And this is just one of the tricks that Paytm is using to leverage its other businesses. “Paytm has many businesses, and if they put their might behind this it will surely yield results. While in UPI, Paytm is a distant third, if you look at Paytm wallet to wallet transactions that’s very large but doesn’t get recorded as it doesn’t enter any settlement,” said Mankad. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/banks-are-not-liable-to-cough-up-payments-if-you-have-been-a-victim-of-fraud-or-scams/articleshow/81526097.cms">Banks are not liable to cough up payments if you have been a victim of fraud or scams</a> <a href="https://www.businessinsider.in/business/startups/news/cred-which-rewards-you-for-paying-your-credit-card-bills-is-reportedly-indias-latest-unicorn/articleshow/81523219.cms">CRED, which rewards you for paying your credit card bills, is reportedly India’s latest unicorn as its valuation more than doubles in two months</a>

Paytm is betting big on UPI and though it’s still a distant third, analysts believe it could have an edge over PhonePe and Google Pay

<div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://en.wikipedia.org/wiki/File:Linus_Torvalds.jpeg">Martin Streicher via Wikimedia</a>Linus Torvalds invented Linux.</div></div></div>The Linux Foundation today announced that it has a new big-name member: Twitter.
Twitter is a big user of Linux. So the real-time information network has stepped up to become an official, paying sponsor of the organization that oversees Linux.
It's a Silver member, paying $15,000 a year to support the Foundation, which covers things like the salary of Linux inventor Linus Torvalds.
You don't need to be a sponsor to use Linux or to submit software additions to it-that's the beauty of open-source software, which many startups have come to depend on.
But becoming an official Linux sponsor gives a company a couple of benefits. Sponsors get a bigger say in the kinds of technologies that will be included in Linux and which other projects the Linux Foundation works on.
For Twitter, whose servers are supporting 140 million active users and 400 million tweets a day, there's a long list of things they'll want built into Linux. While Twitter can add those things to Linux itself, by joining the foundation it taps into a network of thousands of Linux developers willing to help.
Being a paying sponsor also has another, less tangible benefit. It gives a company some street cred with developers. Many open-source developers feel very strongly about corporations that use open-source projects being good citizens and contributing both code and money.
The move may please one set of developers. But for others, the concern isn't about Twitter's longstanding support of open source. It's how Twitter treats developers who use its platform to build apps. One such developer, Dalton Caldwell <a href="http://www.businessinsider.com/dalton-caldwell-app-net-twitter-facebook-alternative-2012-8">accused Twitter and Facebook</a> of hurting developers in their pursuit of ad revenue. He then went out and raised crowdsourcing money to launch a competitor.
The Linux Foundation is hosting its big LinuxCon event next week in San Diego. Twitter's open-source manager, Chris Aniszczyk, is scheduled to be a keynote speaker. So the timing more likely has to do with the event, and not the unrelated fuss over Twitter's platform policies.

Twitter Puts Some Money Behind Linux, Boosting Its Developer Street Cred

<ul class="summary-list"><li>Christine Landis is a mom of two and a multimillionaire.</li><li>She manages parenthood like a business, outsourcing tasks where possible.</li></ul>This as-told-to essay is based on a conversation with Christine Landis, CEO of <a target="_blank" href="https://peacockparent.com/">Peacock Parent</a>. It has been edited for length and clarity.By the time I was 30 years old, I <a target="_blank" href="https://www.businessinsider.com/millionaire-parent-teaches-kids-budgeting-entitlement-stability-2024-4">had a million dollars</a> in the bank, but throughout the first half of my 30s, I still didn't feel financially secure. I also knew that if my husband and I had kids at that point, I would feel a constant pull between my obligations at work and my obligations as a mother, even with his support. I didn't want to constantly feel pulled in two directions, and the truth is that my priority was my career.At the time, I was the CEO of National Cred-A-Chek, which provided banking information to casinos and gaming operators. When I was 36, a Canadian company acquired the business for eight figures. The offer was unsolicited — we hadn't been actively trying to sell the company — and the transaction happened quickly. Suddenly I had enough money that I never needed to work again, and <a target="_blank" href="https://www.businessinsider.com/boomer-retiring-early-nervous-about-money-2024-5">I was retired</a> at 36.<div type="image" title="Christine Landis reading a book to her kids at bedtime. Her husband is sitting next to her and picking up one of her kids." height="683" width="1024" msid="110700927" hostid="261" sizebytes="50266"></div><h2 id="e53a5e6b-0e0c-4e19-85d0-800d8e8b8f54">I outsourced tasks and did the ones that brought me joy</h2>I decided to work on my next big venture: motherhood. I had my first child at 37 and my second at 39. Because I was <a target="_blank" href="https://www.businessinsider.com/how-much-money-salary-americans-need-to-feel-rich-2023-7">financially secure</a>, I was able to outsource the more mundane tasks of being a parent. I hired two nannies and didn't worry about the cost. I outsourced laundry, housekeeping, and cooking, in addition to the childcare help.I approached motherhood the same way that I ran a business. Most parents have limited time, money, and energy. I was in the unique position of having plenty of money, and I knew I could use it to buy myself more time and energy, in a way.I didn't engage with the <a target="_blank" href="https://www.businessinsider.com/millennial-parents-hire-professionals-for-child-rearing-tasks-2020-1">parenting tasks</a> I dreaded, like doing bath time or reading the same book 500 times. That freed me to show up fully, energetically, and passionately to the parenting activities I do love, like swimming together, eating breakfast, and exploring museums.<h2 id="ae95b7b3-5824-4144-aef9-adac2c9e8a54">I think all parents should outsource some of the job</h2>Most parents don't have millions in the bank, but they can still use a similar approach. In 2003, five years after the sale of National Cred-A-Chek, I started another company, <a target="_blank" href="https://peacockparent.com/">Peacock Parent</a>, to help other parents vet concierge services that can free up their mental energy and give them more time to enjoy the aspects of parenting that bring them joy.Even if you're not wealthy, you can still use three of my favorite <a target="_blank" href="https://www.businessinsider.com/parent-save-time-procrastination-best-tips-chores-2023-11">outsourcing tools</a>, including:<ul><li>A virtual family assistant: Lots of people are familiar with working with <a target="_blank" href="https://www.businessinsider.com/virtual-assistant-service-helps-family-save-10-hours-in-chores-2022-4">virtual assistants</a> in the office, and I think it's time we apply the same idea to the home. This isn't just a help for moms — it's an assistant for the whole family, including dads and childcare providers. I've used a family virtual assistant to schedule doctor's appointments. They're great for keeping an eye on your calendar so you know when events like Teacher Appreciation Week are coming up.There are lots of options for virtual family assistants. If you use an actual person, you'll pay more, but you'll also get a higher level of service. One of my favorite AI-driven options is <a target="_blank" href="https://www.getduckbill.com/">DuckBill</a>, which starts at $99 a month.</li><li>Laundry service: Parenthood adds at least 5-10 loads of laundry each week, which is downright exhausting. I love <a target="_blank" href="https://poplin.co/">Poplin</a>, which is like Uber for your laundry — they pick it up, and then they wash, fold, and return your laundry to your home. The minimum order price is $20, enough for about two hampers of laundry. I understand that might be a lot of money for some people. And yet, if you have the financial resources, you have to weigh the cost against the freedom of having more quality time to spend with your kids.</li><li>Gift-giving services: Even when it's not the holidays, as a parent, you're constantly thinking about things like birthdays, showers, and graduations. Finding a gift requires lots of thought and emotional energy, not to mention the time needed to actually go shopping.That's why I love <a target="_blank" href="https://peacockparent.com/virtual-personal-shopping-assistant/">Poppy Gifting</a>. For $25, Poppy gifting will curate a list of 10 gift ideas based on the event, recipient, and budget. I recently used the service to get a friend a bag to celebrate an award she got at work. She appreciated the gift, and I appreciated how easy it was to get.<div type="image" title="Christine Landis and her family on a playground, pushing her children on the swings." height="683" width="1024" msid="110700929" hostid="261" sizebytes="48076"></div></li></ul><h2 id="d04a1e3c-308c-4247-bc91-cf82f340934e">Weigh the time saved against the money spent</h2>I know <a target="_blank" href="https://www.businessinsider.com/millionaire-parent-allowance-salary-teaches-kids-save-give-money-2024-5">my financial situation</a> isn't typical, and I don't pretend it is. I'm able to splurge on some parenting support that is unobtainable for most people. My favorite is a personal chef. Three days a week, we have a chef that comes in for eight hours a day. He takes care of all shopping, prepping, cooking, meal serving, and cleanup.That's a ton of work, and since I'm not someone who enjoys cooking, it's money well spent to remove it from my plate. But it comes with a high price tag: we pay the chef about $70 an hour. Most people can't afford that, but maybe you can outsource some of the mental load of meal prep by buying pre-sliced fruits and vegetables or meal kits, or budget for takeout when work is especially busy.

I was a millionaire by 30 and retired at 36. I outsource many parenting tasks I don't enjoy, but you don't have to be rich to do the same.

Are you an avid credit card user? Are you up to speed with all the changes that have come into effect starting today, which is all set to impact your credit card usage, and your pocket. Here's a quick snapshot of all the changes that you should be well aware of: <h2><keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> </h2>Starting today, ICICI bank has done away with fees for many services, which include request for a charge slip, which was earlier chargeable at Rs 100/slip and cash and cheque pick up, which also carried a fee of Rs 100 earlier. Earlier, for outstation cheque processing and duplicate bank statement (for three months), a fee of Rs 100 was payable. Now, all those charges have been waived. However, going ahead, you'll have to dish out Rs 200 instead of Rs 100, if you wish to get your credit card replaced. <h2><keyword id="19952948" type="General" weightage="20" keywordseo="Axis-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Axis Bank" meta.hostid="261" meta.entityid="Axis Bank">Axis Bank</keyword></h2>If you hold a <keyword id="19941660" type="General" weightage="20" keywordseo="Citibank" source="keywords" meta.keywordsubtype="org" meta.entityname="Citibank" meta.hostid="261" meta.entityid="Citibank">Citibank</keyword> credit card, this is for you. The migration of all Citibank <keyword id="19953671" type="General" weightage="100" keywordseo="credit-cards" source="keywords">credit cards</keyword> to Axis bank will be complete by 15th July, 2024. Post that, you will receive new credit cards from Axis bank .However, until then, your existing Citibank cards will continue to work just fine. All your unredeemed points will be converted into EDGE miles. After migration, they will have an expiration period of 3 years. Starting today, RBIs new rules mandate that all credit card transactions in the country be processed through <keyword id="20779381" type="General" weightage="20" keywordseo="Bharat-Bill-Payment-System" source="keywords">Bharat Bill Payment System</keyword> (BBPS). This means that if your bank has not come on board with BBPS, you will not be able to make payment through their credit card on other third-party platforms. Out of 34 banks that can issue credit cards, 12 banks have come onboard the BBPS. These include SBI, <keyword id="19938728" type="General" weightage="20" keywordseo="kotak-mahindra" source="keywords">Kotak Mahindra</keyword>, IndusInd, Federal, HDFC, ICICI and IDFC bank. Indian Overseas bank and <keyword id="45660" type="General" weightage="20" keywordseo="yes-bank" source="Orion">YES Bank</keyword> are expected to go live soon. <h2>SBI Bank</h2>Starting July 15th, if you hold one of the 22 specified SBI credit cards, you will no longer accrue any reward points while making certain transactions, particularly if they are related to government services. These include Air India SBI Platinum Card, Air India SBI Signature Card, Central SBI Select+ Card, Chennai Metro SBI Card, Etihad Guest SBI Card, Fabindia SBI Card SELECT, IRCTC SBI Card, Mumbai Metro SBI Card and more. <h2>YES Bank </h2>If you hold a YES Bank credit card, the criteria for you to qualify for complimentary lounge access has changed. Starting today, you will have to spend at least Rs 35,000 from your credit card in the previous quarter, in order to be able to get a complimentary access to domestic airport lounges in the next quarter. Earlier, this threshold was set at Rs 10,000. This will impact YES Marquee, YES SELECT, YES Reserv, YES First Preferred, YES Bank ELITE, YES BYOC, and YES Wellness Plus cards. <h2>HDFC Bank</h2>Starting August 1st, if you make rent, or education related payments via platforms like Cred and Paytm, you will have to pay a fee of upto 1% of the transaction, which will be a maximum of Rs 3,000. However, if you make the payment directly through your school or college's website, you will be able to save on this charge. Similarly, on all fuel expenses of over Rs 15,000, a 1% fee will be applied, which can be a maximum of Rs 3,000.

You Searched For "pay with cred" and got 10 results

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Paytm is betting big on UPI and though it’s still a distant third, analysts believe it could have an edge over PhonePe and Google Pay

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I was a millionaire by 30 and retired at 36. I outsource many parenting tasks I don't enjoy, but you don't have to be rich to do the same.

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