Digital Payments

RBI proposes a one-hour delay for digital payments above Rs 10,000, alongside safeguards like trusted authentication and account monitoring, as fraud cases surge sharply

Central bank suggests transaction delays, trusted-person authentication and stricter account controls as digital payment frauds surge in volume and value

Growth in QR codes and transaction volumes underscores rising merchant adoption and expanding digital payments ecosystem across India

RBI's Payments Vision 2028 proposes reforms in cross-border payments and a lighter regulatory framework for small payment firms to boost innovation and efficiency

Kiwi appoints Sumeet Basrani as chief business officer to drive growth and expand access to its credit-on-UPI offering amid rising adoption of digital payments

India’s digital payments system will see tighter security from April 1, 2026, with the Reserve Bank of India (RBI) making two-factor authentication (2FA) compulsory for all transactions.

The Reserve Bank is developing more digital public infrastructure and payments intelligence platforms by leveraging artificial intelligence and application programming interfaces to enhance customer experience and strengthen the payments ecosystem, according to a senior central bank official. "We are also creating more and more DPIs. We are talking about the use of AI to create all those DPIs and APIs. Of course, AI and APIs are going to be the future of all these DPIs and for all your online activities," P Vasudevan, executive director of RBI, said while addressing at MPAI Merchant's Day 2026. He said the central bank is considering deploying artificial intelligence to enhance customer journeys and automate grievance handling as digital transaction volumes continue to increase. "For example, let us say I make a UPI transaction and I have an issue, the transaction doesn't get completed. It automatically picks up this as a grievance and tries to complete the journey. That's what UPI

RBI Governor Sanjay Malhotra calls for collaborative efforts to boost public confidence in digital payments as the central bank launches a rural awareness pilot

NPCI plans a major branding revamp to strengthen its identity as a technology-led digital payments infrastructure provider and boost visibility at home and abroad

In this session of Gurugyaan, Mr TV Ramachandran, President, Broadband India Forum shares his views on “How sub-sea cable and digital cloud is indispensable for today’s digital economy"

UPI transactions fell month-on-month in February due to the shorter month, but daily volumes and values increased, reflecting steady digital payment adoption across channels

The DGGI's arrest of Fino Payments Bank MD Rishi Gupta in a probe linked to banned online gaming has intensified scrutiny of GST liability, programme managers and compliance networks

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

NPCI is working on an SMS-less, silent device-binding process for UPI to improve security and onboarding, with rollout expected over the next 12-18 months

The new norms are slated to kick in from April 1

A DFS report shows UPI has overtaken cash as the most preferred payment mode and recommends focused merchant enablement and stronger support for RuPay debit card usage in rural and semi-urban India

India's currency in circulation reached a record ₹40 trillion in January even as the cash-to-GDP ratio fell to 11%, signalling incremental GDP growth increasingly financed through digital payments

Despite UPI's dominance, the digital payments game is far from over, Ghosh tells Manojit Saha, pointing to the opportunity that lies in cash conversion

NPCI International Payments Ltd (NIPL), the international arm of NPCI, has signed an agreement with Payments Network Malaysia Sdn Bhd (PayNet), Malaysia's national payments network, to enable QR-based merchant payments between India and Malaysia. The rollout of this initiative will happen in a phase-wise manner, National Payments Corporation of India (NPCI) said in a statement. In the first phase, Indian travellers visiting Malaysia will be able to use their UPI apps to make seamless cross-border merchant payments at DuitNow QR acceptance touchpoints, it said. "DuitNow QR is Malaysia's national QR standard, operated by PayNet. In the subsequent phase, Malaysians visiting India will be able to scan UPI QR codes to make merchant payments using their DuitNow apps," it said. With this integration, Indian tourists will gain access to millions of DuitNow QR merchant touchpoints in Malaysia, across restaurants, retail stores, tourist attractions, and other establishments, it said. Simila

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.