UPI hits over 3,700 transactions per second, up 58% yearly
Sep 04, 2024, at 02:46 am
New Delhi: The Unified Payments Interface (UPI) has become the world's most popular alternative payment method, handling 3,729.1 transactions per second in 2023, media reports said.
RBI Governor launches key digital payment initiatives Bharat BillPay, UPI Circle
Aug 29, 2024, at 05:56 am
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das Wednesday announced the launch of two new product offerings built by the National Payments Corporation of India (NPCI) at the Global Fintech Festival (GFF) 2024.
MobiKwik gains market share, becomes largest wallet player
Jul 10, 2024, at 06:54 am
Mumbai: MobiKwik, one of India's largest digital financial products and services platforms, has achieved the largest number of PPI Wallet transactions by value for the months of April and May 2024.
Jul 06, 2024, at 05:52 am
Kolkata: NPCI International Payments Limited (NIPL) in partnership with Network International (Network), a leading enabler of digital commerce across the Middle East and Africa (MEA) region, has enabled the acceptance of QR code-based Unified Payments Interface (UPI) payments via Network’s point-of-sale (POS) terminals in the UAE.
Jul 04, 2024, at 03:06 am
New Delhi: UPI payments are now available in the UAE through a partnership between NPCI International Payments Ltd and Network International, a key player in digital commerce across the Middle East and Africa.
NPCI may defer market cap restriction for UPI platforms for 2 yrs: Report
May 10, 2024, at 03:36 am
New Delhi: The National Payments Corporation of India (NPCI), responsible for managing the Unified Payments Interface (UPI), is likely to limit market share for digital payment platforms two years later, according to Reuters.
NPCI International partners with Bank of Namibia to deploy India’s UPI stack in Namibia
May 03, 2024, at 12:52 am
Mumbai: NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), has signed an agreement with the Bank of Namibia (BoN) to support them in developing an instant payment system like Unified Payment Interface (UPI) for Namibia.
Rahul Kothari appointed as Razorpay's Chief Operating Officer for India and Malaysia
Nov 08, 2023, at 08:37 pm
Mumbai: Rahul Kothari, formerly the Chief Business Officer (CBO) of Razorpay, has been appointed as the Chief Operating Officer (COO) for India and Malaysia.
Bank of Baroda Q2FY24 net profit up 28% to Rs 4,253 cr
Nov 05, 2023, at 08:03 am
Mumbai: State-run lender Bank of Baroda (BoB) recorded a 28.4% increase in net profit in the second quarter of the FY24 at Rs 4,253 crore, compared to the same period last year.
Bank of Baroda enables UPI LITE - Small Value on Device Wallet
Sep 21, 2023, at 08:50 am
Mumbai: Bank of Baroda Wednesday announced that it has enabled UPI LITE - Small Value on Device Wallet to enable users to make instant, small value digital payments with only one tap without the use of a UPI PIN.
SBI Card enables RuPay Credit Cards on UPI
Aug 11, 2023, at 03:09 am
New Delhi: SBI Card, India’s largest pure-play credit card issuer, and National Payments Corporation of India (NPCI) have announced the linking of SBI credit cards on the RuPay platform with UPI.
CAIT and Meta to digitize 10 million local businesses via WhatsApp Business app
Jul 26, 2023, at 07:55 am
New Delhi: Confederation of All India Traders (CAIT) and Meta are expanding their ‘WhatsApp Se Wyapaar’ program to digitally train and upskill 10 million local traders on the WhatsApp Business App.
India's UPI to be available in Sri Lanka soon
Jul 22, 2023, at 04:27 am
New Delhi: India's instant payment technology Unified Payments Interface (UPI) will now be used in Sri Lanka.
Jun 03, 2023, at 02:58 am
Mumbai: The Reserve Bank of India (RBI) on Friday released draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators (PSOs).
UPI emerges as the second most preferred repayment method for digital loans: CASHe Report
Apr 07, 2023, at 02:01 am
Kolkata: UPI emerged as the second most preferred repayment method after e-NACH for borrowers on CASHe, a credit-led, AI-driven financial wellness platform.
RBI slaps Rs 3.06 cr penalty on Amazon Pay (India) for non-compliance of rules
Mar 04, 2023, at 01:04 am
Mumbai: The Reserve Bank of India Friday said it has fined Amazon Pay (India) Private Ltd more than Rs 3.06 crore for not adhering to certain rules regarding Prepaid Payment Instruments (PPIs) and the Know Your Customer (KYC) directive.
NPCI allows NRIs from 10 nations without Indian phone nos. to use UPI facility
Jan 12, 2023, at 04:44 am
New Delhi/IBNS: Non Resident Indians (NRIs) from 10 countries, who hold NRE or NRO accounts, will be able to use Unified Payments Interface (UPI) platforms with their international mobile numbers.
Cabinet approves incentives for RuPay Debit Cards and low-value BHIM-UPI transactions (P2M)
Jan 12, 2023, at 01:35 am
New Delhi/IBNS: The Union Cabinet Wednesday approved the incentive scheme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (person-to-merchant) for a period of one year from April 2022.
PhonePe moves domicile to India from Singapore pre IPO
Oct 06, 2022, at 11:38 pm
Bengaluru/IBNS: FinTech platform PhonePe on Thursday announced that it has completed the process of moving its domicile to India.
NPCI and IIT Kanpur Ink MoU for knowledge sharing and research collab
Aug 04, 2022, at 03:51 am
The Indian Institute of Technology (IIT), Kanpur and National Payments Corporation of India (NPCI) have signed a Memorandum of Understanding (MoU) for sharing knowledge on innovative ideas and to collaborate on the development of indigenous digital payments solutions.
Bharat BillPay to offer recurring payments to farmers across India in collaboration with FAARMS
Apr 29, 2022, at 07:18 pm
Mumbai: Bharat Bill Payment System, the one-stop platform for facilitating all recurring payments across categories has collaborated with FAARMS to enable the recurring payments facility for all the farmers across India.
More than 37,000 users joined UPI123Pay since its launch on March 8
Apr 03, 2022, at 10:15 pm
New Delhi: The Reserve Bank of India (RBI) has taken various steps to expand the reach of UPI outside India and 37,096 users have joined the payments network, Union Minister of State for Finance Dr Bhagwat Kisanrao Karad said recently in a written reply to a question in Lok Sabha.
RBI extends deadline for card tokenisation
Dec 24, 2021, at 03:30 am
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday extended the deadline for card tokenisation till June 30, 2022.
Dec 09, 2021, at 04:30 am
Mumbai/IBNS: The Reserve Bank of India (RBI) announced three key measures on Wednesday to make the Unified Payments Interface (UPI) transactions more efficient.
RBI to geotag payments to increase the reach of digital payments
Oct 09, 2021, at 01:58 am
Mumbai/IBNS: The Reserve Bank of India on Friday (October 8) introduced geotagging of payments system to improve the payment acceptance infrastructure.
Yes Bank update impacts fintech start ups and app based services
Mar 06, 2020, at 05:09 pm
Mumbai/IBNS: Several fintech startups and apps are facing problems in their operations after Yes Bank was put under moratorium by the Reserve Bank of India on Thursday.
Here’s How FASTag - the Contactless Digital Payment Tag Works
Nov 22, 2019, at 01:47 pm
The Indian government has made it mandatory from 1 Dec, 2019 to use a contactless payment card for cash-free and faster transactions at National Highway toll plazas across the country. All new four-wheelers will be expected to have FASTag devices fitted by car manufacturers on the front windscreen. Currently, this program is active across 450+ toll plazas across the country and the remaining will be covered soon for the mandate implementation by the Govt. Of India. The notice follows an amendment by central government to the 1989 Central Motor Vehicle Rules according to the powers conferred on it by Motor Vehicle Act, 1989. Let’s take you through a FASTag overview and understand everything about it, in detail.
RBI appoints Aadhar architect Nandan Nilekani as chairman of digital payments panel
Jan 08, 2019, at 05:20 pm
Mumbai, Jan 8 (IBNS): The Reserve Bank of India on Tuesday said Infosys co-founder Nandan Nilekani, the architect of Aadhaar card, has been appointed as the chairman of the committee formed by it to assess the digitisation of payments in the country.
Tata Power announces 100% cashless payments
Apr 24, 2017, at 09:50 pm
Mumbai/ Kolkata, Apr 24 (IBNS): Tata Power, India's largest integrated power company, on Monday said it has always supported initiatives that strive to make India state-of-the-art technologically.