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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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.
Fintech startups have only been able to corner a small part of the value in gold-linked financial products like gold loans and digital gold even as gold prices have shot up. Regulatory changes may pose a further challenge.
With its rivals present in just about 50 cities each, Swiggy Instamart could be looking at a first-mover advantage—or a dud.