In this article, we discuss how the consent requirement under the new data law interplays with use of data to cross-sell/up-sell other products by fintechs. Continuing on the fintech and DPDP series, our partners Sreenidhi Srinivasan and Aparajita Srivastava speak about using data (collected for one purpose) to cross-sell/up-sell other products. For example, what if, as aRead more
Blog
In the context of PayPal’s recent appeal to a larger bench, we delve into the verdict of the Delhi High Court in PayPal Payments Private Limited v. Financial Intelligence Unit – India. In our article, we analyse the arguments of both sides, the complexities surrounding the definition of ‘reporting entities’ under the Prevention of MoneyRead more
An explainer on the interchange fees for UPI payments through prepaid payment instruments. NPCI recently recommended interchange fees of up to 1.1% on UPI transactions through prepaid payment instruments (PPIs). The fees are applicable on transactions above INR 2000 from 1 April 2023. PPIs include e-wallets and pre-loaded cards. Some examples of e-wallets that must be interoperableRead more
An analysis of key fintech regulations which govern data, the patterns they reveal, and the best practices that fintechs can adopt to ensure compliance. For the last 5 years, data lawyers have been like the boy who cried wolf. The data bill is always being tabled “in the next session of Parliament”. We’ve seen explainers,Read more
A list of what fintech players want from regulators in 2023 including clarity on FLDG, transparency in NBFC licensing, neobanking licenses, tax relief, priority sector classification, UPI incentives share, and new KYC solutions. 2022 was a tumultuous year for fintech. One dotted by regulatory rebukes and restrictions coupled with a funding winter. Here’s what theRead more
An analysis of whether India really needs a central bank digital currency. The United States wants to ‘get it right than to be first’. That’s what Jerome Powell, US Federal Reserve’s chairman said about the digital Dollar two years ago. The United States still doesn’t have a central bank-backed digital currency (CBDC). Meanwhile in India, RBI just piloted the digital RupeeRead more
A letter from a disgruntled Rs.100 note reminding UPI that cash is still king. “This is an outstanding accomplishment. It indicates the collective resolve of the people of India to embrace new technologies and make the economy cleaner.” – PM Modi That’s PM Modi lauding UPI crossing 6 billion transactions in July. Like any icon,Read more
A dissection of why credit card payments through UPI may not be as convenient, accepted, and trusted. RBI has proposed linking credit cards (CC) to UPI. It’ll, to start with, allow Rupay credit card payments through UPI rails. And in the due course, allow other CC issuers to come on board. Credit on UPI has beenRead more
An analysis of RBI’s card directions that restrict fintech’s access to card transaction data and their interplay with RBI’s outsourcing guidelines. In April 2022, RBI notified the directions on Credit and Debit Cards. In these directions, it asked co-branding partners to keep their hands off card transaction data. The RBI has, this time, gone straight for the fintechRead more
A Bandersnatch-inspired story that follows a fintech entrepreneur as she tries to monetize a payments business in India. In the film Bandersnatch, viewers make decisions for the main character – the young game programmer Stefan Butler. It is an interactive ‘choose your own adventure’ film. You, the viewer, make choices for Stefan. Your choices determine Stefan’s fate.Read more