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Billdesk, Razorpay leaders talk of innovation, AI and regulation in payments industry
Money Control
·
2y ago
Medial
Harshil Mathur, co-founder and CEO, Razorpay, and MN Srinivasu, co-founder and director, BillDesk tell Moneycontrol Startup conclave that AI will touch every aspect of the entire ecosystem and how tech remains their biggest expense
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Pause on the cards: Fintechs may take a hit as most banks stay away from BBPS
Economic Times
·
1y ago
Medial
Fintech startups, including Cred, PhonePe, BillDesk, and Infibeam Avenues, are expected to face disruption as a new regulation mandates credit card bill payments to be processed through a centralized billing network starting July 1. However, major card issuers in India, like HDFC Bank, ICICI Bank, and Axis Bank, have not yet activated the Bharat Bill Payment System (BBPS), potentially causing further complications in the industry.
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Pure-play payments space will have only 10 serious players in next 3 years: BillDesk’s MN Srinivasu
Money Control
·
2y ago
Medial
MN Srinivasu, co-founder of BillDesk, predicts that the pure-play payments space will witness consolidation, leaving only around 10 serious players in the next three years. He emphasizes the need for players to differentiate themselves and offer unique value propositions to thrive in the competitive landscape. Srinivasu anticipates increased collaborations and acquisitions to occur as the industry evolves. Razorpay which is in the process of reverse flipping its domicile back to India is looking to go for an IPO in the next two-years.
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Silicon Valley stifled the AI doom movement in 2024 | TechCrunch
TechCrunch
·
7m ago
Medial
In 2024, Silicon Valley's tech industry overshadowed concerns about catastrophic AI risks, promoting a prosperous vision of generative AI. While high-profile figures called for AI regulation due to potential threats, industry leaders like Marc Andreessen argued for minimal restrictions to maintain competitiveness and innovation. The debate peaked with California's SB 1047, aimed at regulating AI, but it was vetoed amid intense lobbying and perceived impracticality. The AI safety movement gained some traction but faces challenges in 2025.
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Razorpay Walks The Tightrope Of Regulations And Profits
Inc42
·
9m ago
Medial
Harshil Mathur, the co-founder and CEO of Razorpay, believes that regulations are beneficial for the fintech industry. According to industry experts, Razorpay is one of the leading players in India's payments gateway and payment aggregator market. However, there are challenges such as low margins for payment aggregators and revenue sharing agreements with banks and other entities. The dominance of UPI platforms like PhonePe and Paytm in India's digital payments space also poses a challenge for Razorpay. Nevertheless, the company is looking to diversify its business streams by venturing into cross-border payments.
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Musk, Zuckerberg, Gates to join US senators for AI forum
Economic Times
·
1y ago
Medial
Senate Majority Leader Chuck Schumer is hosting a closed-door forum with tech leaders like Elon Musk, Mark Zuckerberg, and Sundar Pichai to discuss artificial intelligence safeguards. The discussion will cover concerns related to deepfakes, election interference, and critical infrastructure attacks. Schumer aims to build consensus for safe AI innovation, emphasizing the importance of Congress acting on the complex subject of AI regulation. This meeting comes amid increasing attention on AI's societal impact, with multiple Congressional hearings and industry commitments to AI safety.
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BillDesk reports slight growth in revenue, fall in profit in FY23
Economic Times
·
1y ago
Medial
Mumbai-based payment company BillDesk has reported a slight increase in operational revenue to Rs 2,678 crore for FY23, from Rs 2,442 crore the previous year. However, its net profit for the year dropped to Rs 141.9 crore, down from Rs 149.6 crore. Although BillDesk continues to be profitable compared to competitors like Paytm, PhonePe, and Razorpay, it has experienced stagnation in revenues and a strain on its net profit over the last three years. In October 2022, Prosus canceled its planned acquisition of BillDesk, which would have been the second-largest Indian startup buyout after Flipkart's acquisition by Walmart.
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Tech Leaders Once Cried for AI Regulation. Now the Message Is ‘Slow Down’
Wired
·
1y ago
Medial
Box CEO Aaron Levie recently attended TechNet Day, an event where tech industry leaders meet with members of Congress to discuss legislation. Levie expressed skepticism about the need for extensive AI regulation, stating that Europe's approach is risky and that the tech industry lacks consensus on how to regulate AI. He believes that a sweeping AI bill in the US is unlikely. Levie's comments contrast with the views of other AI elites who advocate for regulation. Additionally, the article highlights the challenges of creating effective AI legislation and the difficulty in defining fair use in the context of AI.
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BillDesk’s FY23 Profit Dips 5%, Revenue Inches Closer To INR 3,000 Cr Mark
Inc42
·
1y ago
Medial
Mumbai-based fintech firm BillDesk reported a 5% decline in net profit to INR 141.9 Cr in FY23 compared to the previous fiscal year. The company's operating revenue grew 10% to INR 2,678.3 Cr in FY23, while total expenditure increased by 12% to INR 2,561.5 Cr. Technical costs accounted for the majority of expenses, reaching INR 2,146.3 Cr. Employee expenses also rose, indicating an increase in headcount. BillDesk offers payment gateway and digital payment solutions, competing with Razorpay and Citrus Pay. A planned acquisition by PayU was terminated in 2021.
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Startup Policy Forum endorses discount rates on UPI for large merchants
YourStory
·
4m ago
Medial
The Startup Policy Forum (SPF), consisting of leading Indian startups like Razorpay and CRED, supports introducing a merchant discount rate (MDR) on Unified Payments Interface (UPI) for large merchants. A two-tiered MDR framework is proposed, exempting small merchants while imposing controlled fees on larger ones. This approach aims to drive innovation, curb fraud, and sustain the payments industry. SPF highlights the necessity of balancing growth with inclusion and stresses the urgency due to recent financial strains on fintechs.
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Razorpay's UPI Verse, India’s EV Dreams Hit A Wall & More
Inc42
·
1m ago
Medial
Razorpay has expanded into the UPI space by acquiring a majority stake in digital payments startup POP for $30 million. This move marks its entry into the consumer sector, beyond its core B2B focus. Meanwhile, India's electric vehicle (EV) industry faces hurdles related to rare earth elements, essential for manufacturing. The industry seeks solutions to reduce dependence on Chinese supplies, aiming for innovation in EV motor technology to overcome these challenges.
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