September 2023 was another notable month for the fintech sector. With the successful completion of the Global Fintech Festival, 2023, the month was also a testament to the significant impact which India left on the leaders across the globe at the G20 Summit held in New Delhi particularly through its Digital Public Infrastructure. As UPI clocked more than 10 billion transactions for the second month in a row, India's intention to take its payment systems global also became abundantly clear. In this edition of the Fintech Newsletter, INDUSLAW's Namita Viswanath, Shreya Suri, Sana Khan, Gursimar Setia and Akshita Singh discuss some of the critical developments in the fintech space in September 2023 and shed light on key updates pertaining to various fintech players in India.
Fintech Newsletter: Unveiling India's Latest Legal Shifts And Market Waves
INTRODUCTION
India's acclaimed Digital Public Infrastructure ("DPI") was showcased to the entire world at the G20 Summit ("Summit") in New Delhi this September. It was reported that many delegates were astonished at the functionality of the Unified Payments Interface ("UPI"). The Summit convinced leaders from around the world in the power of DPI to speed up "inclusive and sustainable development" and enable the delivery of services to public at a "societal scale". This proved to be a monumental success for India in convincing the world of the power of its DPI as it seeks to take its payments' system global.
Meanwhile, UPI clocked more than 10 (ten) billion monthly transactions for a second month running.2 September also saw the Global Fintech Festival, 2023 ("GFF") where proceedings were once again dominated by the innovations made by the National Payments Corporation of India ("NPCI") in a maturing payments' segment.
In this edition of the newsletter, we bring to you, key developments in the fintech space from September 01, 2023, to September 30, 2023.
Fintech Newsletter: Unveiling India's Latest Legal Shifts And Market Waves
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