Digital Payments

The transaction volumes of the BHIM Payments App more than tripled between June 2025 and May 2026, according to NPCI BHIM Services Limited. Monthly transaction volumes on the app, developed by NPCI BHIM Services Limited, rose from 79.64 million in June 2025 to 244 million in May 2026, a release said on Wednesday. The platform processed transactions worth Rs 26,952 crore in May 2026, it said. In Telangana, BHIM's growth mirrors the broader national trend, with transaction volumes tripling between June 2025 and May 2026. In May 2026, groceries accounted for 23.9 per cent of merchant transactions on the platform in the state, followed by food outlets (18.1 per cent) and quick commerce (11.6 per cent). Lalitha Nataraj, MD and CEO of NBSL, said the strong growth of the BHIM Payments App in Telangana reflected the increasing integration of digital payments into everyday life. "What is particularly encouraging is that this growth is being driven by transactions across categories such as

The platform operates a members-only financial rewards programme that targets users with high credit scores and offers them rewards and discounts

The rising proportion of citizens interacting across the financial landscape also bears witness to growing financial inclusion

Pine Labs has launched an agentic payments protocol for UPI transactions, with CEO Amrish Rau calling for India-led standards in autonomous commerce

The payments major is expanding into cybersecurity, analytics, AI and loyalty services as it seeks new growth avenues beyond its traditional payments network business

Never scan any QR code to receive money and don't install apps from random links

Bharat Bluff is filled with first-person accounts of scams that allow readers to comprehend the gravity of India's scam economy beyond data

Indian travellers can use UPI apps at over 4.5 million merchant outlets in Cambodia, while Cambodian visitors will gain access to UPI-enabled payments in India in the next phase

India's digital payments revolution is accelerating, but cash continues to grow as households and businesses use currency for savings, reserves and informal activity

UPI transactions touched a record ₹29.90 trillion in May while volumes rose to an all-time high of 23.20 billion, underscoring the continued expansion of India's digital payments ecosystem.

Despite rapid growth in digital payments, RBI's survey found that households and small retailers continue to prefer cash, while currency in circulation rose strongly in FY26

Central bank is exploring transaction delays, broader customer controls and a kill switch mechanism as digital payment frauds continue to rise in value

Payments Council of India has engaged independent consultants to draft framework to be submitted to RBI

Employment in India's unincorporated non-agricultural sector reached a record 151.7 million in the March quarter, led by strong rural and services-sector growth

In absolute terms, CiC expanded by Rs 1.15 trillion during the first one and a half months of FY27, indicating sustained demand for cash despite continued growth in digital payments

The Reserve Bank of India said stablecoins fail key tests of money and warned that such virtual digital assets pose financial stability and jurisdictional risks

But they seek increase in threshold to ₹25,000; payment industry flags operational issues

Walmart-owned PhonePe says its AI-powered integration layer can reduce merchant onboarding timelines from weeks to minutes, especially for small businesses

A time-bound, tiered MDR on large commercial UPI merchants, with small merchants and individuals permanently exempted, is in order, and so is revenue allocated to strengthen infra & rural expansion

PhonePe has crossed 700 million users, underscoring rapid growth in India's digital payments ecosystem, even as the fintech firm pauses its IPO plans amid market volatility