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News, The Morning Context

In Juspay vs fintechs, economics will decide the winner

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A narrative war is unfolding in India’s fintech ecosystem. On one side is Juspay, a payments orchestrator. On the other are four of the largest payment aggregators (PAs): PhonePe, Razorpay, Cashfree, and Paytm. The PAs have told merchants that their payment gateways will no longer work with Juspay’s orchestrator. Juspay is now accusing the PAs of engaging in anti-competitive tactics. The PAs are demanding neutrality and fair play. This is a big matter involving four of the largest PAs. The fight is being waged on economics that will decide the winner.

News, The Morning Context

Indian fintech’s gold rush is yet to take off

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India’s fintech sector has finally been bitten by the gold bug. Fintechs are exploring gold-linked products like digital gold savings, gold loans (credit), and gold exchange-traded funds (ETFs). However, there are two problems for fintechs looking to sell gold products: regulatory hurdles and the small revenue pool. The total revenue pool for Indian fintechs from all major gold-linked products is estimated at about Rs 1,500-2,000 crore annually. The Finance Ministry is preparing a regulatory framework for digital gold, and the RBI is considering rules for gold leasing, following a crackdown on peer-to-peer lending.

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