Digital Payment

Govt sources say rural-focused feature phone solutions such as UPI 123Pay, IVR systems and offline payments will drive the next phase of India's digital payments expansion beyond smartphones

Fintechs, NPCI are deepening AI integration across India's payments stack, from agentic interfaces and conversational payments to domain-specific LLMs designed to streamline disputes and transactions

RBI's Digital Payments Index climbed to 516.76 in September 2025 from 465.33 a year earlier, driven by gains in payment performance and enablers

Walmart-backed PhonePe, which aims to float its initial public offering (IPO) in April, plans to deepen its presence in India's digital payments market while expanding into financial services and new consumer platforms. In its draft papers, the company said digital payments will remain the core driver of growth, supported by investments to expand its user base, addressable market and platform scale. India's total addressable market for digital consumer payments stood at Rs 301 lakh crore in fiscal 2025 and is projected to grow to Rs 602-681 lakh crore by fiscal 2030, the company said, citing industry estimates. According to sources, PhonePe is aiming to launch its IPO in April. The proposed offering will be entirely an offer for sale of 5.06 crore shares by Walmart, Microsoft and Tiger Global, with no fresh issue component. In January, the company received regulatory approval from the Sebi to proceed with its maiden public offering, following its confidential filing in September.

RBI has announced a one-time compensation of up to Rs 25,000 for victims of small-value digital frauds, while also moving to tighten norms on mis-selling and loan recovery practices

Fraud moves fast, so must we

Budget stays silent on MDR, industry to pursue bid in coming months

Paytm on Friday issued a clarification to stock exchanges to address recent market speculation, stating that any potential impact from the conclusion of the RBI's Payment Infrastructure Development Fund (PIDF) scheme is expected to be significantly offset over time through higher revenues and more targeted sales efforts. In a filing with the National Stock Exchange (NSE) and BSE, One 97 Communications Ltd said it has revenues recognised as incentives from the programme, linked to qualifying expenditure incurred towards the deployment of payment acceptance devices such as Soundboxes and EDC machines. Addressing the scenario directly where the scheme is not extended, the company said it expects to "meaningfully offset the impact over time through a combination of stronger revenue growth and more focused, targeted sales execution". The PIDF incentive was aimed at accelerating digital payments infrastructure across Tier-3 to Tier-6 centres, as well as underserved regions including the .

The NPCI-run BHIM Payments App recorded strong growth in CY25, with monthly transactions rising over four-fold, driven by higher adoption, growth in small-ticket payments and rising trust in user

With this service, customers can save their credit and debit cards to the Apple Wallet

India is trying to expand the global reach of its homegrown digital payment system UPI to a larger number of countries, especially in East Asia, Financial Services Secretary M Nagaraju said on Tuesday. Unified Payment Interface (UPI) is currently accepted in eight countries -- Bhutan, Singapore, Qatar, Mauritius, Nepal, the UAE, Sri Lanka and France. The acceptability of India's digital payment network overseas enables Indian tourists to make UPI payments for transactions abroad. Speaking at the Global Inclusive Finance India Summit here, Nagaraju said India is about 50 per cent in terms of digital transactions thanks to UPI. "Now we have expanded to some countries. We are trying to expand. To a large number of countries, especially we are focussing in East Asia now," he said. The secretary in the Department of Financial Services (DFS) said UPI transactions crossed more than 21 billion in December 2025, and the success of UPI and digital transactions could also be attributed to ...

"The board was also briefed on the major findings of the RBI's recently conducted Survey on Digital Payments," the central bank said

India's UPI processed a record 21.63 billion transactions worth ₹27.97 trillion in December, helping the platform close 2025 with its strongest-ever annual volumes and values

NPCI approved 13 third-party UPI apps in 2025, with five limited to closed user groups, as tighter due diligence and new safety controls followed an April system outage, sources said

NTSL will not be a section 8 company which is similar to the other three subsidiary structures that NPCI currently has

India is talking to about eight countries, including those in East Asia, to make UPI payments acceptable, Financial Services Secretary M Nagaraju said on Friday. Unified Payment Interface (UPI) is currently accepted in eight countries -- Bhutan, Singapore, Qatar, Mauritius, Nepal, UAE, Sri Lanka and France. Acceptability of India's digital payment network overseas enables Indian tourists to make UPI payments for transactions abroad. "We are now talking to about 7-8 countries, including many in East Asia, to have UPI transactions," Nagaraju said at a conference on Harnessing AI and digital public infrastructure for Viksit Bharat. Nagaraju also said that India is including a track on UPI in some of the trade negotiations with countries. "Some of the trade negotiations we are doing with some of the countries now, we are trying to have a track on UPI so that the fintech industry which is deeply involved in UPI also have a foot in the financial sector where we have the cost, scale ...

It will be a dedicated intelligence infra company that will enable real-time intel sharing among banks and other financial-sector participants to strengthen customer protection against digital frauds

Volume was up by 5 per cent and value by 10 per cent in October versus September this year

Digital payment transactions accounted for 99.7 per cent in terms of volume and 97.5 per cent in value in the payments system during calendar year 2024, and the trend continued in the first half of 2025, according to a Reserve Bank report released on Thursday. The payments ecosystem in India has witnessed remarkable growth in recent years, said the RBI's half-yearly Payment System Report, June 2025. The payments landscape in India consists of a bouquet of payment systems designed to cater to the diverse needs of users, which include paper-based instruments (cheques) as well as digital payment systems. Digital payment systems include NEFT, IMPS, RTGS, NACH, debit and credit cards, prepaid payment instruments, and UPI. The report also showed an increasing trend across all categories, except for paper-based instruments. Cheques account for 2.3 per cent of the total transactions in terms of value. In terms of volume, the payment transactions grew from 3,248 crore in CY 2019 to 20,849

Govt plans to introduce biometric authentication for UPI payments, but what exactly is a digital payment system and why is it important for the Indian economy?