Hi fintech friends, Osborne here!
Please enjoy all the news and updates from the past week in today’s edition. If you feel TWIF brings you value, please share it with your friends (and maybe suggest they subscribe too).
Don’t forget to share with fellow fintech friends!
🐦🏆 Tweets of the Week
Zerodha is now SBI of Broking Industry with "Too Big To Care" attitude. It's attitude is becoming similar to that of Old age brokers in 2010s when there was hardly any competition for them & then came Zerodha.
Am no biggie to advise Kamath Brothers but public rage is rising— Prakash (@LivingFossil32) July 20, 2023
Wow: Goldman net charge-offs in consumer biz are a whopping ** 5.8% **
Fair to assume GreenSky installment is LOWER than that.
Meaning Apple Card charge offs are probably 6%++ pic.twitter.com/srrFYFC2i9— Jason Mikula (@mikulaja) July 19, 2023
🇮🇳 India
📰 Market Updates
Central banks of India and Sri Lankasigned a partnership to extend INR payment acceptance via UPI in Sri Lanka.
Dilip Asbe, the CEO of NPCI, reportedly claimed that he expects UPI to grow its user base to 600-650mm in 3 years.
Central banks of India and Indonesia are reportedly integrating their respective real time payments platforms.
Fino Payments Bank is reportedly planning to apply to convert to a Small Finance Bank.
EaseBuzz, a payment gateway startup, reportedly processed $8.5bn (INR 70K cr) in payments value in FY23 and generated $29mm (INR 236cr) in revenue.
Jio Financial Services was spun out of its parent company Reliance.
OneCard and WintWealthapplied for NBFC licenses.
🚀 Product Launches
💰 Financing Announcements
ACQUISITIONS:
Decentro, a fintech infrastructure startup, acquiredNeoWise, a debt collections platform.
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🌏 Asia
📰 Market Updates
Atomesigned a partnership with TikTok Shop for BNPL options.
Grabinvested $101mm in GXS Bank, the Singaporean digital bank formed as a JV between Grab and Singtel.
The Philippine central bank released the "2022 Status of Digital Payments" stating that retail digital payments consisted of 42% of total payments volume and 40% of total payments value in 2022.
💰 Financing Announcements
🌏 International
Please find our global coverage and consider subscribing.
US and Global, written by Nik Milanovic.
Europe and UK, written by Michael Jenkins.
Latin America, written by Christine Chang.
Africa, written by Emeka Ajene.
China written by Ning Ye.
Policy written by Mohammad Hamdy.
And of course, our podcast series - Beyond Two Percent and Hey Fintech Friends.
If you’ve made it this far - thanks! As always, you can always reach me at [email protected]. I’d genuinely appreciate any and all feedback. If you liked what you read, please consider sharing or subscribing.
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