Overview of Global Fintech Fest 2025 held in Mumbai – Part II

The sixth edition of the Global Fintech Fest (GFF 2025), was held from October 7- 9,2025 at the Jio World Convention Centre and Nita Mukesh Ambani Cultural Centre(NMACC) in Mumbai, Maharashtra.

Highlights of GFF 2025:

Denmark and India Collaboration

Five Clusters: Invest in Denmark and Copenhagen Fintech (a leading innovation hub for financial technology in Nordic), in partnership with Startup Réseau, hosted a thematic interaction on “Green Fintech”, on the sidelines of GSS 2025.

• The discussion brought together five clusters – Policy and Framework, Industry, Investors, Startups, and Ecosystem Enablers.

Report launched: Followed by the Climate FinTech Roundtable, a report titled ‘Green Fintech – Denmark: Digital Solutions for a Sustainable Future’ was launched.

• The report features several innovative startups and cluster organizations in both Denmark and India, with the aim of triggering conversations around collaboration between the two countries.

Mastercard Partnership

PhonePe: PhonePe announced a partnership with Mastercard to roll out ecosystem-wide device tokenisation on its payments gateway, making digital transactions more seamless and secure for users.

• With this launch, customers can now save their card once on the PhonePe app and use it securely across all participating online merchants.

AU SFB: AU Small Finance Bank announced the launch of its AU Multi-Currency Forex Card, offering international travellers enhanced convenience, security, and global usability.

• The Card enables users to load up to 6 currencies on a single card, offering locked-in exchange rates, emergency cash assistance, embassy support, and complimentary forex card insurance.

Visa Key Partnership:

Payment Passkey: At GFF 2025, Visa, a global leader in digital payments, unveiled its Payment Passkey solution in collaboration with Razorpay, PhonePe, PayU and Juspay.

• This device-native solution enables consumers to authenticate payments using their fingerprint, facial recognition, or passcodes.

Forex Card: Visa, in partnership with ICICI Bank, launched the Corporate Sapphiro Forex Card, a first-of-its-kind prepaid forex card powered by Visa Infinite for entrepreneurs and corporate leaders.

• This premium card is linked to a business account and comes with exclusive travel and lifestyle benefits valued at over Rs. 15,000.

Prepaid Card: Visa announced a new partnership with Revolut to enhance cross-border payments for Indians.

Multi-Currency Forex Card: Visa is powering a new Multi-Currency Prepaid Forex Card launched by Zenith Leisure Holidays Ltd. in partnership with Pismo,  offering secure, globally accepted payments for leisure travelers, corporate groups, and students.

AI-Powered Co-Branded Card Programme: Visa has partnered with Xoxoday, a leading AI-powered rewards platform, to launch an innovative co-branded prepaid card programme.

Bank of India (BoI) Initiatives:

Proof of Concept (PoC): The BoI launched the PoC solutions aimed at preventing fraudulent registrations on mobile banking applications through social engineering or fraudulent calls.

Biometric based transactions: The biometric-based UPI transactions for small-value payments via mobile phones, simplifies the user journey by mitigating UPI PIN fatigue.

Premium Credit Card:

• Celestia: A premium credit card designed for high-value customers, offering benefits worth up to Rs.1.5 lakh.
• Lakshmi Credit Card: A special card curated exclusively for women customers, offering a differentiated and empowering experience.

MoU: BoI signed an MoU (Memorandum of Understanding) with PayNearby to avail business correspondent services under the Digital Naari Initiative, aiming to empower women across rural and urban India and support inclusive and accessible banking.

Eazebuzz launches:

BankingConnect IBMB: Eazebuzz, a payment solution platform launched the Banking Connect IBMB (Interoperable Net & Mobile Banking) platform in partnership with NPCI Bharat BillPay Limited (NBBL) at GFF 2025.

• The platform streamlines merchant onboarding and integration with reliable transactions, one-time setup, multi-channel payment support, faster settlements, and centralized dispute handling.

Sector-specific digital solutions: Easebuzz also unveiled two sector-specific digital solutions:

• FeesPortal, a comprehensive platform for recurring and subscription payments, now integrated as a biller aggregator with NBBL BBPS, streamlining fee payments for institutions like Symbiosis University.
• HOM360, a digital suite designed for housing society management.

AI Integration:

Intelligence Platform: The RBI is implementing a new “Digital Payments Intelligence Platform” that will leverage AI to identify potentially risky transactions before they are completed.

ChatGPT: OpenAI Collaborates with NPCI and Razorpay to Enable Agentic Payments in ChatGPT.

• The pilot initiative is designed to allow ChatGPT to execute payments on behalf of users within the app, without requiring them to navigate external platforms.
• Axis Bank and Airtel Payments Bank are participating as banking partners in the pilot, supporting the implementation and testing of the feature.

Finternet: Infosys chairman Nandan Nilekani stated that India’s “Finternet” initiative, a digital infrastructure framework (DIF) integrating tokenization, AI, and regulated finance, is projected to expand across 20 ecosystems on four continents and is expected to have live implementations by 2026.

• This new financial system is expected to bring assets such as land, property, bonds, financial investment, among others under a single infrastructure and where they get tokenised.

AI Soundbox: Paytm launched India’s first AI-powered Soundbox for merchants at GFF 2025, offering voice-based business insights and payment management tools to small businesses in multiple local languages.

• The new device builds on Paytm’s popular payment Soundbox series and adds a conversational AI layer that allows merchants to interact with the system in 11 Indian languages.

CCAvenue: The leading payment solutions provider announced the launch of CCAvenue CommerceAI, a platform designed to enable merchants, developers, and AI ecosystems to integrate autonomous commerce experiences directly into their applications, Customer Relationship Management(CRMs), and AI agents.

Other Initiatives

BharatPeX: BharatPe has launched BharatPeX, a new Payment Aggregator and Payment Gateway (PAPG) brand designed to enhance how enterprises manage digital payments.

• The platform combines cards, net banking, and UPI with an implementation-first model, enabling faster in-app UPI integration, secure data handling, and higher transaction success rates.

Portfolio 360: Tata Asset Management (TAM),the investment manager for Tata Mutual Fund (MF), in collaboration with Equal-Onemoney, has rolled out Portfolio 360, an industry-first feature on the Tata MF app that gives Investors a comprehensive view of their entire financial portfolio.

Vega: Getepay has announced the launch of ‘Vega‘, its indigenously developed payment Switch.

• It is a future-ready payment switch that connects banks and financial partners, enabling them to manage high transaction volumes.
• The platform delivers real-time digital payments, automated reconciliation & settlement and intelligent merchant management.

Lenskart launches smartglasses: Lenskart has announced plans to integrate direct UPI payments in its upcoming B camera smartglasses. 

• The users can complete transactions by scanning a QR (Quick Response) code with their smartglasses, without the need of a phone or a PIN (Personal Identification Number).

Posidex Technologies:

PII Data Vault: The Posidex Technologies unveiled its flagship innovation, the Personally Identifiable Information (PII) Data Vault at the GFF 2025.

• The launch was inaugurated by Olympic medallist P.V. Sindhu, alongside Posidex leadership.
• Using advanced technologies, including searchable encryption and cryptographic computing, the vault processes sensitive PII securely.

Agreement Signed:

NeGD and NeSL: The National e-Governance Division (NeGD) and National E-Governance Services Limited (NeSL) have entered into a MoU to enhance and integrate digital document management for businesses and government entities.

• Through this collaboration, NeSL’s Digital Document Execution (DDE) platform will integrate with NeGD’s cloud-based document management platform, Entity Locker platform, an extension of the DigiLocker initiative aimed at streamlining document issuance, storage, sharing, and verification.

Note:

NeSL: National E-Governance Services Limited is India’s first Information Utility and is registered with the Insolvency and Bankruptcy Board of India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016 (IBC).

DDE: NeSL’s Digital Document Execution(DDE) platform is a pioneering solution facilitating paperless and secure execution, e-stamping, and e-signing of debt and non-debt related documents, including electronic bank guarantees (e-BGs) a specialized service on the DDE platform.

 About Bank of India (BoI):

Managing Director(MD) & Chief Executive Officer (CEO) – Rajneesh Karnatak
Headquarters – Mumbai, Maharashtra
Established – 1906