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Groww widens lead over Zerodha in Oct despite market slowdown

EntrackrEntrackr · 4d ago
Groww widens lead over Zerodha in Oct despite market slowdown
Medial

Groww widens lead over Zerodha in Oct despite market slowdown Amid a slowdown in India’s retail broking industry, wealth-tech platform Groww was the only major player to record growth in October 2025. According to NSE data, Groww added 1.38 lakh active demat accounts during the month, taking its total to 1.2 crore (12 million). Other leading discount brokers saw a decline in active users. Zerodha and Angel One reported drops of 62,000 and 34,000 accounts, respectively, while Upstox lost about 59,000. The total number of active demat accounts across the top 25 brokers slipped 0.13% in October, indicating a phase of consolidation in the retail investing segment. Among traditional players, ICICI Securities and SBI Caps added 13,000 and 25,000 accounts, respectively. Paytm gained around 30,000 new accounts, while most other brokers, including HDFC and Kotak Securities, reported small declines. Digital-first platforms continue to lead the broking market, with Groww, Zerodha, and Angel One together holding over 57% of NSE demat accounts. Groww accounts for about 26.6% of the total, highlighting its growing share among retail investors. Between July and October 2025, the number of active demat accounts across leading brokers fell from 4.72 crore (47.2 million) to 4.52 crore (45.2 million), reflecting the slowdown after the post-pandemic expansion. The rate of decline has eased, pointing to early signs of stabilization in the market. Groww’s continued growth indicates steady user additions despite the broader industry slowdown.

Exclusive: Fampay launches UPI app Namaspay for foreign travelers in India

EntrackrEntrackr · 1y ago
Exclusive: Fampay launches UPI app Namaspay for foreign travelers in India
Medial

Fampay by Trio has been looking at avenues to make money, and the firm has launched a unified payment interface (UPI)-powered payment app -Namaspay for foreign travelers in India. Namaspay is a separate app which allows travelers across continents including Europe, Africa, Australia, and the US. The app charges Rs 1,650 as one time registration fees along with 4% and 1% on money loading and withdrawal, respectively. Namaspay seems to be a well positioned offering as the UPI-powered payment apps have almost replaced cash in the urban regions. The NPCI-owned payment railroad processed nearly 15 billion transactions in August. Since UPI is accepted almost everywhere and weeds out cash carrying requirements, there is definitely a case for it to offer a version for foreign tourists. More importantly, UPI remains a negligible contributor to revenues or profitability to the players associated with it. A Namaspay kind of app for foreign travelers has sizable potential to fill the profitability gap fonally. To a large extent, this [UPI for foreigners] is a white space in the UPI as Cheq is probably the only competition for Namaspay. For context, India received 92 million foreign tourists in 2023. Most of these tourists either use plastic money or cash for payments. Hence, there seems to be an opportunity for players like Namaspay and Cheq. However, experts outline that if this [UPI for foreigners] would emerge as a lucrative space, large players including PhonePe and Paytm will push their offerings as well. Namaspay appears to be an attempt by Fampay’s parent to explore more use-cases around UPI ecosystem. More importantly, there is no predicting how NPCI will react to the move to monetise it more strongly, with every likelihood of it trying to set benchmarks there as well. Fampay which was started as teen-centric neo-banking platform but it pivoted to become a full-fledged UPI app (like PhonePe and Paytm). The company blew over Rs 200 crore to build a fintech offering for the population below 18 years of age. The firm, which raised $38 million in series A round, reported less than Rs 15 crore in revenue in its lifetime. Fampay processed 52 million transactions via UPI in July. The company has demonstrated rapid growth as it managed to climb to top 10 list within a year of full-fledged pivot. Namaspay is owned by Pehe via its subsidiary TrioTech where Fampay’s co-founders Sambhav Jain and Kush Taneja are listed as owners, according to its regulatory filings.

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