🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Cashfree receives NPCI certification for its own UPI switch

Economic TimesEconomic Times · 1y ago
Cashfree receives NPCI certification for its own UPI switch
Medial

Cashfree Payments has received certification from the National Payments Corporation of India for its UPI Switch service. This certification allows Cashfree to directly integrate with any bank's core banking software, resulting in a higher transaction success rate for its merchants. With this certification, Cashfree can settle around 12,000 transactions per second. The UPI Switch was developed in collaboration with NSDL Payments Bank as the sponsor bank. This achievement will lead to a 5% increase in Cashfree's transaction success rates, faster merchant onboarding, and improved control over the payments process. Cashfree Payments is a leading payment aggregator trusted by over 600,000 businesses, processing transactions worth $80 billion annually.

Related News

Curie Money receives NPCI approval, goes live across India

EntrackrEntrackr · 15d ago
Curie Money receives NPCI approval, goes live across India
Medial

Curie Money receives NPCI approval, goes live across India Curie Money, a fintech platform focused on savings and payments, has received final approval from the National Payments Corporation of India (NPCI) to expand its services nationwide. With this approval, Curie has exited its beta phase and is now live for all users on Android and iOS. Curie previously raised $1.2 million (Rs 10 crore) in seed funding in December 2024, led by India Quotient with participation from other investors. Founded by Arindam Ghosh and Tushar Choudhary, Curie Money operates as a mutual fund–backed UPI app that enables users to invest, spend, and manage money seamlessly. It holds an AMFI mutual fund distribution license and NPCI approval for UPI operations. It allows users to grow their money in liquid mutual funds while maintaining instant access through UPI payments. The platform combines investment and payments, enabling users to earn daily returns and spend instantly from the same balance. The product operates through partnerships with YES Bank and asset management companies including ICICI Prudential and Bajaj Finserv. It complies with mutual fund and payment regulations to ensure secure transactions. Users earn returns of up to 6.7% annually through liquid mutual funds, with every UPI payment processed by instantly redeeming the required amount. The model aims to replicate money market systems used in developed economies by linking liquidity and returns in a single product.

Fintech OneStack raises $2 Mn in Series A round

EntrackrEntrackr · 7m ago
Fintech OneStack raises $2 Mn in Series A round
Medial

Fintech platform OneStack has raised $2 million in its Series A round and will secure an additional $1 million led by Pentathlon Ventures, with participation from Yatra Angel Network and continued support from existing investors 100Unicorns and Venture Catalysts. The proceeds will be used to scalable technologies that drive financial inclusion and digital transformation in underserved markets. Founded by Amit Kapoor and Vishal Gupta, OneStack offers end-to-end solutions like Core Banking, Mobile Banking, NPCI UPI Switch, and BBPS Switch, allowing regional and rural banks to modernize operations and enhance services. The platform operates as a technical service provider (TSP) and application service provider (ASP), offering a unified technology stack. With over 200 cooperative banks already onboarded, OneStack claims to command a 20% market share in North and West India and supports seven out of 34 State Cooperative Banks, serving 35 crore Indians and six crore MSMEs through its infrastructure. OneStack’s UPI Switch and BBPS Switch enable partner banks to independently issue branded UPI IDs and process Bharat BillPay transactions, minimizing reliance on third-party platforms. Since its last funding round, the brand has deployed over 6,000 Soundboxes in 14 regional languages.

Download the medial app to read full posts, comements and news.