Business Standard

Saturday, February 08, 2025 | 05:47 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Digital Payment

Infibeam Avenues Q3 FY25 results: Net profit up 42.6% at Rs 62.4 cr

Partnerships with banks, fintech firms and regulators 'paves way for hyper‐growth', says digital payments company

Infibeam Avenues Q3 FY25 results: Net profit up 42.6% at Rs 62.4 cr
Updated On : 04 Feb 2025 | 6:45 PM IST

Digital payments rise 11.1% at Sept end 2024: RBI data on DPI

Digital payments across the country registered an 11.11 per cent year-on-year rise as on September 2024, according to RBI's index that measures the adoption of online transactions. RBI's Digital Payments Index (RBI-DPI) for September 2024 stands at 465.33 as against 445.5 for March 2024, the Reserve Bank said in a statement on Wednesday. "The increase in RBI-DPI index was driven by growth in payment infrastructure and payment performance across the country over the period, it said. The central bank had announced the construction of a composite RBI-DPI in March 2018 as a base to capture the extent of digitisation of payments across the country. The index comprises five broad parameters that enable the measurement of the deepening and penetration of digital payments in the country over different periods. These parameters are Payment Enablers (weightage 25 per cent); Payment Infrastructure Demand-side factors (10 per cent); Payment Infrastructure Supply-side factors (15 per cent);

Digital payments rise 11.1% at Sept end 2024: RBI data on DPI
Updated On : 29 Jan 2025 | 8:14 PM IST

RBI's digital payments index rises to 465.33 as of September 2024

"The increase in the RBI-DPI index was driven by growth in payment infrastructure and payment performance across the country over the period," the central bank said in a statement

RBI's digital payments index rises to 465.33 as of September 2024
Updated On : 29 Jan 2025 | 7:54 PM IST

X moves closer to super app status with Visa-powered digital wallet plans

XMoney platform will likely enable Peer-to-peer (P2P) payments and an integrated e-wallet within the X app

X moves closer to super app status with Visa-powered digital wallet plans
Updated On : 29 Jan 2025 | 1:19 PM IST

UPI's share in total digital payments in India grows to 83% in 2024

In 2024 alone, India recorded 208.5 billion digital payment transactions

UPI's share in total digital payments in India grows to 83% in 2024
Updated On : 27 Jan 2025 | 9:54 PM IST

UPI transactions surge to record 16.73 bn in Dec; value at Rs 23.25 trn

Interestingly, for the entire 2024, the volume increased by 46 per cent to around 172 billion transactions, compared to 118 billion in 2023

UPI transactions surge to record 16.73 bn in Dec; value at Rs 23.25 trn
Updated On : 02 Jan 2025 | 12:04 AM IST

RBI allows PPI holders to make UPI payment using third-party apps

The Reserve Bank on Friday allowed prepaid payment instruments holders to make and receive UPI payments through third-party mobile applications. It has been decided to enable Unified Payments Interface (UPI) payments from/to full-KYC prepaid payment instruments (PPIs) through third-party UPI applications, the central bank said in circular. "A PPI issuer shall enable holders of only its full-KYC PPIs to make UPI payments by linking its customer PPIs to its UPI handle. UPI transactions from PPI on the issuer's application shall be authenticated using the customer's existing PPI credentials," it said. Such a transaction will, thus, be pre-approved before it reaches the UPI system. A PPI issuer, in its capacity as a payment system providers, should not on-board customers of any bank or any other PPI issuer, the RBI said. The RBI's decision is aimed at providing more flexibility to holders of PPIs such as gift cards, metro rail cards, and digital wallets, among others. Currently, UPI

RBI allows PPI holders to make UPI payment using third-party apps
Updated On : 27 Dec 2024 | 4:51 PM IST

MSMEs can boost finances with formal registration, digital payments: RBI DG

The deputy governor highlighted that despite their importance, MSMEs often struggle to secure timely and adequate credit

MSMEs can boost finances with formal registration, digital payments: RBI DG
Updated On : 25 Nov 2024 | 8:56 PM IST

PhonePe brings down losses to Rs 1,996 crore in FY24, revenues up 85%

About 10 per cent of company's revenue comes from government subsidies on digital payments

PhonePe brings down losses to Rs 1,996 crore in FY24, revenues up 85%
Updated On : 21 Oct 2024 | 2:14 PM IST

UPI transactions volume increases 52% to 78.97 bn in Jan-Jun: Report

Indian instant payment system Unified Payment Interface (UPI) transaction volumes recorded a 52 per cent year-on-year surge to 78.97 billion in the first six months of 2024, according to a report. In its India Digital Payments Report for the first half of 2024 (January to June), payment technology service provider Worldline said on Thursday that UPI continues to rule the payment market and is rapidly expanding its reach. "The number of UPI transactions rose significantly from 8.03 billion in January 2023 to 13.9 billion by June 2024. This growth in volume was matched by an increase in transaction value, which climbed from Rs 12.98 trillion in January 2023 to an impressive Rs 20.07 trillion in June 2024. "When comparing H1 2024 to the same period in 2023, UPI transaction volume saw a substantial increase of 52 per cent, rising from 51.9 billion to 78.97 billion," the report said. The value of transactions grew 40 per cent, increasing from Rs 83.16 trillion to Rs 116.63 trillion. In

UPI transactions volume increases 52% to 78.97 bn in Jan-Jun: Report
Updated On : 10 Oct 2024 | 7:45 PM IST

BharatPe settles longstanding dispute with former co-founder Ashneer Grover

Grover will neither be associated with BharatPe nor be a part of its shareholding

BharatPe settles longstanding dispute with former co-founder Ashneer Grover
Updated On : 30 Sep 2024 | 11:55 PM IST

NPCI eyes Africa, South America for digital payment push via UPI: CEO

Earlier this year, the NIPL signed deals with the central banks of Peru and Namibia to help them build real-time payment systems similar to UPI

NPCI eyes Africa, South America for digital payment push via UPI: CEO
Updated On : 24 Sep 2024 | 6:11 PM IST

Lot of headroom for digital payments platform UPI to grow: Google Pay V-P

Speaking at the Global Fintech Fest, Kenghe said close to 400 million customers are transacting on UPI currently

Lot of headroom for digital payments platform UPI to grow: Google Pay V-P
Updated On : 28 Aug 2024 | 4:49 PM IST

Indian banks spending less on cybersecurity than global peers, says BCG

Digital payment frauds saw a more than fivefold jump to Rs 1,460 crore ($175 million) in the year ended March 2024 from the previous year

Indian banks spending less on cybersecurity than global peers, says BCG
Updated On : 28 Aug 2024 | 4:09 PM IST

Over 40% consumers use digital payment daily in Tier 3-6 cities: Report

More than 40 per cent of consumers in Tier 3 to 6 cities use digital payment on a daily basis, while 45 per cent claimed to use it once in two days, a new survey report has said. "This reflects the frequent usage of digital payments by consumers, even in Tier 3 to 6 locations of the country," said a report by Chase India on The State of Digital Payments in India. The report identifies the key challenges faced by merchants and consumers in the adoption of digital payment services at the grassroots level. According to the report, nearly half of the merchants who are not using digital payments in rural India are unaware of the service. In contrast, a staggering 94 per cent of consumers who are not using digital payments are aware of it but still don't use it, as they face issues like lack of internet connectivity, limited knowledge, mistrust in online payments and service-related problems. The report added that around 74 per cent of consumers claimed to be using digital payment serv

Over 40% consumers use digital payment daily in Tier 3-6 cities: Report
Updated On : 27 Aug 2024 | 5:17 PM IST

Amazon Pay UPI surpasses 100 million customers, marking a major milestone

Amazon Pay UPI has become a significant success, said the company, streamlining transactions both on the Amazon.in shopping app and across a wide range of external platforms

Amazon Pay UPI surpasses 100 million customers, marking a major milestone
Updated On : 26 Aug 2024 | 6:20 PM IST

Well-regulated, mkt-based mechanism necessary for UPI MDR: Sharath Bulusu

Bulusu explains the rationale behind the need for merchant discount rate (MDR) for UPI, the company's focus on Indian languages, and credit strategy

Well-regulated, mkt-based mechanism necessary for UPI MDR: Sharath Bulusu
Updated On : 19 Aug 2024 | 12:12 AM IST

Data story: How digital payments in India have evolved over the years

Widespread adoption of digital payments has facilitated rapid, low-cost transactions and easy withdrawals through banking and mobile apps

Data story: How digital payments in India have evolved over the years
Updated On : 16 Aug 2024 | 12:08 PM IST

Payment app Ongo launches instant National Common Mobility Card 'Ongo Ride'

Ongo, the digital payments platform of AGS Transact Technologies has launched an instant National Common Mobility Card 'Ongo Ride' in association with the Chennai Metro Rail Limited here, the company said on Wednesday. Ongo, in a statement said, it has installed unique card dispensers with the UPI feature to facilitate these ready-to-use Ongo Ride cards at 12 CMRL metro stations in the city. Ongo Ride offers commuters a unified payment solution that integrates various modes of transportation including metros, buses and water ferries, as well as payments at parking lots and toll booths. "Metro railways are a cornerstone of urban mobility infrastructure, with India experiencing a daily metro ridership of approximately 10 million. At AGS Transact, we believe that National Common Mobility Cards (NCMC) have the potential to transform mobility across the nation," AGS Transact Technologies Ltd Chairman and Managing Director Ravi B Goyal said. "With our unique NCMC card dispensers, we are

Payment app Ongo launches instant National Common Mobility Card 'Ongo Ride'
Updated On : 14 Aug 2024 | 7:22 PM IST

Govt taking initiatives to expand UPI's global reach: MoS Chaudhary in RS

Minister of State for Finance Pankaj Chaudhary on Tuesday said the government and RBI have been taking various initiatives for expanding the global reach of UPI, which is currently available in seven nations. RBI's Payments Vision Document 2025 has also outlined expanding the global outreach of UPI and RuPay cards as one of the key objectives under the internationalisation pillar, he said in a written reply in the Rajya Sabha. "The government along with RBI has been taking various initiatives from time to time for expanding the global outreach of UPI. RBI has been collaborating with various relevant stakeholders (central banks of various countries, Bank of International Settlements, World Bank and other institutions) for expanding the outreach of UPI," he said. With these concerted efforts, he said, UPI is live in seven countries--Bhutan, Singapore, the UAE, France, Mauritius, Sri Lanka and Nepal. Replying to another question, Chaudhary said, the government, Reserve Bank of India .

Govt taking initiatives to expand UPI's global reach: MoS Chaudhary in RS
Updated On : 06 Aug 2024 | 6:59 PM IST