Page 2 - Digital Payment

NPCI to roll out biometric authentication for digital payments from Oct 8

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

India boosts ties with SICA nations; focus on trade, digital payments: EAM

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

The cost of free: UPI's exponential growth strains limits of subsidies

Industry players add that while other monetisation-friendly avenues are emerging for UPI, those require to be developed further to offset the impact of free transactions

Paying only minimum due on your credit card? You could be in a debt trap

A credit card debt trap occurs when you are paying only the minimum due, or Using one card to pay off another. To avoid this, spend no more than 30 per cent of the card limit each month

Digital payments cross ₹65,000 cr in volume, ₹12,000 trn in value in 6 yrs

Indian digital payment landscape witnessed over 65,000 crore transactions amounting to more than Rs 12,000 lakh crore in the past six financial years, Parliament was informed on Monday. The government has been closely working with different stakeholders, including the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), fintechs, banks and state governments, to increase the adoption rates of digital payments in the country including in tier-2 and tier-3 cities, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. RBI has set up a Payments Infrastructure Development Fund (PIDF) in 2021 to encourage deployment of digital payments acceptance infrastructure in tier-3 to 6 cities, North-Eastern States and Jammu & Kashmir, he said. As on May 31, 2025, around 4.77 crore digital touch points have been deployed through PIDF, he said. Replying to another question, Chaudhary said, the New Digital Credit Assessment Model for MSMEs was

Digital payments rise 10.7% amid growth in supply-side factors: RBI

Digital payments across the country registered a 10.7 per cent year-on-year rise as on March 2025, according to the RBI's index that measures the adoption of online transactions. The Reserve Bank of India (RBI) has been publishing a composite Reserve Bank of India - Digital Payments Index (RBI-DPI) since January 1, 2021, with March 2018 as the base year to capture the extent of digitisation of payments across the country. The index for March 2025 stands at 493.22 as against 465.33 for September 2024 and 445.5 for March 2024, the RBI said in a statement. "The increase in RBI-DPI index was driven by significant growth in parameters viz. Payment Infrastructure - Supply-side factors and Payment Performance across the country over the period," according to the semi-annual data. The RBI-DPI comprises five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods. These parameters are Payment Enablers (weight 25 p

Paytm CFO to retire from company board, ex-bureaucrat Bimal Julka resigns

Paytm owner One97 Communications' Group Chief Financial Officer (CFO) Madhur Deora will step down from the board as he is not seeking reappointment, according to a regulatory filing. Former bureaucrat Bimal Julka, a non-executive independent director of Paytm, has resigned from the board, according to the filing. "Madhur Deora, Executive Director, President and Group CFO, being a director liable to retire by rotation at the ensuing Annual General Meeting (AGM), is not seeking reappointment at the ensuing AGM," the filing said. Deora will continue in his full-time role as President and Group Chief Financial Officer of Paytm and will also support the CEO in expanding the business & strengthening profitability. "I have been on the board for about two-and-a-half, three years. There was never the intention that this should be a permanent thing. We wanted one executive director on the board, so I did a term. Now our general counsel is being nominated for this," Deora said. Paytm's ...

Players on the payments turf: UPI, AePS, PPIs boost digital outreach

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

1 in 5 UPI users faced fraud; 51% victims didn't report, reveals survey

One in five UPI users in India faced fraud in the past 3 years, with 51% not filing complaints. A LocalCircles survey highlights growing risks and urges simplified, one-click reporting mechanisms

Over 63,000 digital payment frauds reported in last decade: Govt

Government data show over 63,000 digital payment frauds worth Rs 733 crore in the past decade as Congress questions the Modi government's banking security record

UPI's contribution to payments ecosystem volume grows to 83.4% in FY25

UPI recorded 185.8 billion transactions in FY25, up 41.7% from FY24, with India's digital payments now accounting for 99.9% of non-cash retail payments, according to RBI data

Six-member board to regulate payment systems: RBI notification

RBI governor headed a six-member Payments Regulatory Board, including three central government nominees, will regulate and supervise payment systems in the country, according to a central bank notification. The Payments Regulatory Board (PRB) will replace the Board for Regulation and Supervision of Payment and Settlement System (BPSS). The five-member BPSS is also headed by the RBI Governor but does not include any government nominee. The other members are a deputy government concerned and three directors from the Central Board of the Reserve Bank of India. The Reserve Bank has now notified 'Payments Regulatory Board Regulations, 2025'. According to the notification, other members of the governor-headed Payments Regulatory Board (PRB) will be the Deputy Governor in charge of the Payment and Settlement Systems, one officer of the RBI to be nominated by the Central Board, and three persons nominated by the central government. RBI Governor, Deputy Governor and the central bank offici

UPI transaction value dips 3% to ₹23.9 trillion in April, volume dips 2%

In March, the volume reached 18.3 billion and the value stood at ₹24.77 trillion, marking a 14 per cent and 13 per cent rise, respectively

PhonePe launches UPI Circle, payment feature that helps the 'unbanked'

'Primary user' of a UPI account can add trusted individuals to their circle by using UPI ID or QR code & authorise payments for them from anywhere

UPI transactions in Jan surpass 16.99 billion, value exceeds Rs 23.48 trn

UPI transactions in January surpassed 16.99 billion and the value exceeded Rs ?23.48 lakh crore, marking the highest number recorded in any month, the Finance Ministry said on Thursday. For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement. Unified Payments Interface (UPI) remains the cornerstone of India's digital payment ecosystem, contributing to 80 per cent of the retail payments across the country, it said. The total transaction volume exceeded 131 billion and the value exceeded Rs ?200 lakh crore for the 2023-24. Its ease of use, combined with a growing network of participating banks and fintech platforms, has made UPI the preferred mode of real-time payments for millions of users across the country, it said. As of January, 2025, over 80 UPI Apps , 641 banks are currently live on UPI ecosystem, it said. In FY 24-25 (till Jan, 2025), the People to Merchant (P2M) transactions contributed 62.35 per cent and

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

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);

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

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

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