The US-headquartered fintech startup notched up a healthy set of numbers despite facing curbs on merchant onboarding for the better part of FY24.
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With Fullerton acquiring a controlling stake last year, the fintech startup has seen an overhaul of the current leadership, trimmed loan disbursements and a halt in product rollouts.
The decade-old company is reportedly planning to venture into food delivery and fintech. Its no-commission model might just come in handy for its expansion plans.
The battle between four of India’s major fintechs and the payments orchestration leader is being fought on the issues of interoperability and fair competition. Ultimately, though, commercial factors will trump all else.