Digital Payments

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 ...

NPCI International and ACLEDA Bank have partnered to enable UPI and KHQR acceptance in India and Cambodia, offering tourists secure, interoperable and seamless QR-based payments

Compared to November 2024, the month witnessed a 32 per cent rise in volume and 22 per cent in value

Juspay has partnered with Sabre Direct pay to modernise global travel payments, offering local methods, faster checkout, cross-border capabilities, and enhanced security through tokenisation

UPI will be linked with Europe's tips system to enable faster, low-cost cross-border payments between India and the Euro area, with RBI and ECB starting work on technical integration

Digital payments firm Infibeam Avenues reported a 51% rise in Q2FY26 net profit to ₹66.5 crore, driven by strong transaction volumes, new merchants, and AI-led efficiency gains

The RBI has recognised the Self-Regulated PSO Association (SRPA) as an SRO for payment system operators, marking a key step in strengthening oversight and governance in digital payments

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

As Trump tries to rewire the global trading system, digital commerce has become another battleground for geopolitical fragmentation where US and China are jockeying for global influence

Swaminathan says steps like ULI facilitate cash-flow-based lending

NPCI says minor issues remain in the T+0 cheque clearing process introduced on October 4, assuring customers that all cheques are being cleared the same day

The RBI's latest Payments System Report warns that geopolitical tensions could disrupt global payment systems, even as India's digital payments and UPI transactions surge

RBI Governor Sanjay Malhotra said linking UPI with global fast payment systems and building sovereign platforms will boost cross-border trade, improve efficiency, and lower costs

Authentications will be done using biometric data stored under the Government of India's unique identification system - Aadhar

The move follows recent guidelines from the Reserve Bank of India permitting alternative methods of authentication and will mark a departure from the current system

The UPI digital payment system has been fast replacing cash as a preferred mode of payment, and has now taken the lead in overall digital payments

RBI on Digital Transactions Fail: Banks will be responsible for compensating customers if fraud occurs due to them not following authentication process

Over the past decade, India's relations with SICA countries have seen a marked improvement, and Jaishankar acknowledged this growing cooperation

RBI has mandated two-factor authentication for all digital payments from April 2026, with guidelines allowing biometrics, tokenisation and risk-based checks alongside OTPs

Digital payments surged to ₹11 trillion on the first day of new GST rates, with RTGS, UPI, NEFT, IMPS, debit and credit card transactions all seeing sharp increases