Tag: Transactions

Fintech Startups

Indian Startup News on Instagram: “PhonePe co-founder and CEO Sameer Nigam defended the new MDR framework for select UPI merchant transactions above Rs 2,000 in an interview with India Today’s Rajdeep Sardesai. Asked about criticism from former BharatPe co-founder Ashneer Grover. “I won’t comment simply because I don’t, I don’t take him seriously”, Nigam said. Nigam argued that the payments industry should not depend on taxpayer-funded government subsidies, saying banks and fintech companies spend around Rs 10,000-12,000 crore annually at current UPI volumes. He said government subsidies of around Rs 2,000 crore have not been enough to cover industry costs, adding that payment companies need a sustainable revenue model rather than continued dependence on subsidies. #phonepe #bharatpe #ashneergrover #UPI #payments #digital #indianstartupnews”

PhonePe co-founder and CEO Sameer Nigam defended the new MDR framework for select UPI merchant transactions above Rs 2,000 in…

Fintech Startups

Indian Startup News on Instagram: “Most people never noticed Cashfree Payments. But for sure, they have used it. In 2015, Akash Sinha and Reeju Datta started Cashfree Payments with one laptop, no big network, and a simple idea: make online payments easier for businesses. Their first breakthrough came from fixing COD payment challenges. Slowly, the company became the invisible layer behind millions of transactions for brands people use every day, including Swiggy, Nykaa and BigBasket. Ten years later, that quiet work has turned into a Rs 1,000 crore revenue business. In FY26, Cashfree grew 55% year-on-year, became EBITDA profitable, and crossed 1 million merchants. The company has also stayed profitable in 5 of its 10 years, while building with under $120 million in total funding. And it isn’t stopping here. “The idea is to grow to Rs 3,000–4,000 crore in revenue over the next two or three years, and then go for an IPO,” co-founder Reeju Datta said. What started as two founders solving a COD problem is now chasing a much bigger goal. #startups #payments #fintech #digitalindia #cashfreepayments #indianstartupnews”

Most people never noticed Cashfree Payments. But for sure, they have used it. In 2015, Akash Sinha and Reeju Datta…