The National Payments Corporation of India reported a 32% decline in FY26 net profit even as revenue climbed 22% to Rs 4,240 crore, reflecting the widening cost structure behind the country's rapidly scaling digital payments infrastructure.
Ghana-based fintech Moment has raised $22 million in Series A funding led by Speedinvest and QED Investors to build payments infrastructure for fragmented African markets.
In 2009, Upasana Taku and her husband Bipin Preet Singh launched a prepaid mobile wallet from their apartment in Delhi with personal savings and a small team. India's digital payments infrastructure barely existed. Cash dominated everything. Nobody knew what a mobile wallet was. Fifteen years later, MobiKwik is a listed company with 186 million users, 5 million merchants, and the full suite of fintech licences — payments aggregator, broking, and now a newly approved NBFC — that makes it a complete financial services platform.
Stripe and PayPal do not co‑invest. The two global payments titans have spent two decades competing for merchants, consumers and mindshare. They rarely appear on the same term sheet. In February 2026, they did. Bengaluru‑based Xflow announced a $16.6 million Series A round led by General Catalyst, with participation from existing investors Square Peg, Stripe, Lightspeed, Moore Capital — and PayPal Ventures joining as a new investor. The all‑equity round valued the startup at $85 million post‑investment, bringing its total funding to more than $32 million. With this, Xflow became the first Indian fintech backed by both Stripe and PayPal Ventures — the world's two largest payments infrastructure platforms. Why did two bitter rivals write cheques to the same startup? Because cross‑border B2B payments are a $59 trillion global market that remains stuck in the era of fax machines and manual bank transfers. And India, with its booming exports, SaaS economy and global capability centres (GCCs), is ground zero for fixing it.