Watch Desk posted an update
AvenuesAI reported a 47% year-on-year rise in second-quarter revenue, alongside plans to build beyond payments with AI-led financial services. One initiative, TISco, is being developed for uses including fraud detection and risk assessment.
Why it mattersThe company said revenue reached Rs 2,879.24 crore for the quarter, while profit after tax rose 6% to Rs 71.70 crore. CCAvenue’s payment processing value was up 19% sequentially, though its net take rate eased to 5.06 basis points amid pricing pressure. TISco’s commercial success is not established: the report says execution, adoption and compliance around data use will matter. Still, the plan is a concrete AI development from a business whose core remains payments.
Discuss: Should fintech firms be able to use transaction data for AI-driven fraud and risk tools by default, or should customers have to opt in?
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