Unified Payments Interface

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

Fintech executives said solving compliance, cost, and SWIFT dependency is key for Indian payment firms eyeing global expansion

The report said that UPI is well positioned to consolidate its role as the backbone of India's payments landscape on the back of interoperability and a conducive regulatory environment

The experience of UPI offers valuable lessons on how Clou can evolve into a truly inclusive credit system

UPI transactions fell to 19.63 billion in September though value rose marginally, while IMPS, FASTag, and AePS also recorded declines in both volume and value

The study, authored by the RBI staff, found that UPI volumes are negatively correlated with cash demand, underscoring its role as a substitute for physical currency

UPI AutoPay enables users to generate a recurring e-mandate using any UPI payments application. It allows users to set timely mandates to pay using UPI on a periodic basis

The National Payments Corporation of India (NPCI) is preparing to roll out this update to UPI, which is expected to enhance security and convenience

PayPal's new global platform will enable UPI-based cross-border payments, backed by partners like Mercado Pago, Tenpay Global and Venmo, with rollout set for later this year

Supporters say crypto can be used for purposes as varied as managing government subsidies and trade settlements

For years, the tech industry has operated on a model of "implied consent"

PhonePe maintains its leadership on the UPI leaderboard, capturing a 46.46% market share in June, processing over 8.54 billion transactions, according to NPCI data

UPI and AePs together have changed India's payments landscape. AePS's playing field is rural and semi-urban India

NPCI builds Internet of Things rails as UPI targets 10x growth

Fashion entrepreneur Anam Mirza, sister of tennis star Sania Mirza, says deleting UPI apps like Google Pay helped her become more mindful of her spending

Extra layers of scrutiny to guard the digitally unversed

"The Government remains fully committed to promoting digital payments via UPI," the finance ministry said

To curb cyber fraud, market regulator Sebi has mandated a new Unified Payments Interface ID format for all registered intermediaries collecting investor funds

It is a digital version of the pin code system and a more accurate address for a person or organisation. The 10-digit alphanumeric code will be useful for people on the move

For instance, this includes restricting a high number of repeat APIs for the same or older transactions