In being highly selective about granting payment aggregator permits, the central bank signals that it will settle for nothing less than an impeccable track record.
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It reported losses in Q2 and Q3, its financial services business is reeling and its payments business is growing but earning less. The Gurugram-based fintech needs a turnaround.
The P2P lending platform is the only one that is still doing substantial business after the central bank tightened the rules last August, virtually shutting down the sector. It has carried on as though the new rules don’t exist.
Being the first off the blocks, having zero baggage in the food delivery business and the convenience of a single app combined to help the Zepto arm hit the 75,000 orders-a-day milestone.