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Top tech and startup stories this weekWelcome to a new edition of ETtech Unwrapped — our weekend newsletter packed with the most important stories this week. Let’s take a look.- RMG ban burns a huge hole in ePay firms’ balance sheetsThe ban on real-money gaming (RMG) has triggered collateral damage across India’s fintech ecosystem — and payment aggregators (PAs) are amo...
- RBI ban makes online payment aggregators seek alternative business linesRazorpay, Cashfree, Paytm and PayU cannot add merchants for their online payments business, this has allowed their rivals to grab market sh...
- 1mg pips PharmEasy in market share; what’s behind PayU’s new business forays?Tata Digital-owned 1mg has beaten rival PharmEasy to pole position in the country’s e-pharmacy market in terms of gross merchandise value. ...
- Exclusive: Rivals snag new users as top payment gateways hit by RBI freezeIndian banks that have their white-label payment processing offerings have also seen a rise in merchant signups, industry executives told E...
- Timeline: Ban on quick-loan apps and its repeal – all in a weekFintech platform PayU’s buy-now-pay-later service LazyPay’s website was taken down following a notice from MeitY. Kissht, another lending p...
- MeitY to revoke ban orders on some digital lending apps, websites like LazyPay, KisshtThis comes on the back of online loan platforms submitting documents to the government to prove they are a regulated play.
- Loan app ban: Digital lending firms submit papers to government to show regulated playFintech companies likely to be affected by the order also met officials of the Ministry of Electronics and IT (MeitY) on Wednesday to discu...
- Digital lending apps issue clarifications after Centre's ban on loan appsSome digital lending apps on Wednesday issued clarifications as the industry entered a panic mode after the Centre banned nearly 138 gambli...
- ETtech Explainer: why are quick-loan apps under the government scanner?The Ministry of Electronics and Information Technology through its latest orders has banned a total of 232 apps. Some of these apps have Ch...
- MeitY ban on loan apps includes non-Chinese players like PayU’s LazyPay, KisshtA senior official at the IT ministry confirmed that there were loan apps without Chinese links which were also a part of the 230-app ban th...
- MeitY ban on loan apps includes non-Chinese players too; Dell to lay off 6,650 employeesOn Sunday, the Indian government issued orders to block 138 betting and gambling apps and 94 loan providing apps due to foreign links on an...
- Karnataka blinks, allows app-based auto aggregators to charge 5% fee; ex-Nykaa CFO joins PayU IndiaThe Karnataka government on Friday announced that it has decided to allow app-based aggregators to charge a convenience fee of 5% to custom...
- TikTok takeoverOriginally launched as a short-form video sharing platform for lip-syncing and dancing videos, TikTok has grown into a full-fledged video s...
- CCI seeks more info on PayU-BillDesk deal; MeitY’s draft data policyIf approved by regulators, the deal would mark the biggest consolidation in the sector, we wrote at the time. Now, sources tell us India’s ...
- Fresh orders to ban 54 Chinese apps; recurring payments still a messThe Indian government, which banned 224 Chinese apps in three rounds in 2020, has now issued fresh orders to ban around 54 Chinese apps, ma...
- BillDesk cofounder on Prosus deal; pre-IPO boost for PaytmBillDesk, the Indian fintech firm that predates the word 'fintech', will soon be acquired by global tech investor Prosus in a $4.7 billion ...
- Facebook may abort Libra launch in IndiaSocial network has not filed application with RBI, which does not allow banking network to be used for cryptocurrency transactions'
- Facebook set to bet high on Libra cryptoThe American company has floated an independent subsidiary Calibra for its bitcoin business.
- Tech trends: From what we saw in 2015 to what to expect in 2016One of the highest adopted services in 2015 were Taxi aggregators. Uber, Ola, Taxi for Sure, Meru became a household names.
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