Page 5 - Digital Payment

BS BFSI Summit: From Handoo to Bulusu, here're digital payment experts

Tech- Digital Payments theme on October 30: Next leg of growth

PhonePe revenue soars 77% in FY23 on booming digital payments market

The company's loss before interest, taxes, depreciation and amortisation on a standalone basis widened to 17.55 billion rupees ($210.8 million) from 16.12 billion rupees a year ago

PM Vishwakarma scheme to integrate e-commerce, digital payments: Minister

On the occasion of his 73rd birthday, Prime Minister Narendra Modi launched the Vishwakarma Yojana scheme today to mark the birth anniversary of Lord Vishwakarma

Paytm shareholders approve appointment of new statutory auditor SR Batliboi

Digital payment services provider Paytm on Wednesday said its shareholders have approved the appointment of a new statutory auditor, S.R. Batliboi & Associates LLP, for five years. S.R. Batliboi & Associates LLP has been approved as the new statutory auditor of Paytm for five years in the 23rd annual general meeting held on September 12, Paytm said in an exchange filing. Price Waterhouse Chartered Accountants LLP has completed its term as the statutory auditor of the company at the conclusion of the AGM, the filing stated. The company in a separate filing said that shareholders approved reappointment of Madhur Deora as Executive Director, President and Group Chief Financial Officer as well as the proposed increase in his salary. Price Waterhouse Chartered Accountants LLP on August 7 had announced its resignation as auditor of Paytm Payments Services Limited with immediate effect. PwC had cited the change of auditors at the holding company level and Paytm's practice to align ...

A step-by-step approach to CBDC

Why would anybody shift from UPI to CBDC? What are its advantages over UPI?

You may soon be able to make UPI payments by talking or just tapping phone

RBI governor Shaktikanta Das in the MPC decision announcement on Thursday, proposed to enable 'conversational' payments on UPI using AI

Digital payments rise 13% y-o-y at March-end 2023, shows RBI data

Digital payments across the country registered a growth of 13.24 per cent in a year through March 2023, as per RBI's index that measures the adoption of online transactions. RBI's Digital Payments Index (RBI-DPI) stood at 395.57 at end-March 2023 compared to 377.46 in September 2022 and 349.30 in March 2022. "The RBI-DPI index has increased across all parameters driven by significant growth in payment infrastructure and payment performance across the country over the period," Reserve Bank of India (RBI) said in a statement on Thursday. 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 (weight 25 per cent); Payment Infrastructure Demand-side factors (10 per cent); Paymen

Tata AIA allows consumers to pay premiums through Whatsapp and UPI

Tata AIA has partnered with WhatsApp and PayU to make payments through Unified Payment Interfaces (UPIs) for their consumers more efficient

Japan ID system causes concern amid payment glitches, incorrect deliveries

Japan "My Number" identification card system caused further concern following a number of new errors, with govt saying that numerous cards were erroneously linked to wrong cardholders' payment methods

India tops world ranking in digital payments with 89.5 mn transactions

Second, on the list is Brazil which amounted to 29.2 million transactions followed by China with 17.6 million transactions

India no. 1 in digital payments, rural economy is transforming: PM Modi

Prime Minister Narendra Modi on Friday said that India is number one in digital payments and the country's rural economy is transforming.Addressing the Civil Services Day here in the national capital he said, "India is number one in digital payments. India is one of the countries where mobile data is the cheapest. Today, the country's rural economy is transforming."PM Modi said that this year's 'Civil Service Day' is very important as it is a time when the country has completed 75 years of its independence. He said it is a time when the country has started taking rapid steps to achieve the gigantic goals of the next 25 years."I would say this to every civil service officer in India today you are very lucky. You have got the opportunity to serve the country in this period...We have less time but we have a lot of potential, our goals are difficult but our courage is not low, we may have to climb a mountain, but our intentions are higher than the sky," the Prime Minister said.He said ...

Hindenburg targets Jack Dorsey's payments firm Block: All we know so far

Block Inc was founded by entrepreneur Jack Dorsey and it offers payment and mobile banking services for merchants and consumers

PoS terminals and the future of digital payments

The offline unorganised segment will drive merchant payment digitisation with QR codes and sound boxes - devices with speakers that display alerts for merchants when transactions are processed

Flipkart co-founder Binny Bansal planning to invest $100-150 mn in PhonePe

PhonePe has a formidable market presence in the Indian digital payments space. The app leverages the Unified Payments Interface (UPI) like its other peers

RBI launches mission to make every citizen a user of digital payment

As many as 58% of some 90,000 respondents in an RBI survey said they were not using digital payments; a large chunk, in fact, was not even aware of them

It's a high-volume, low-margin game: PAs eye the online payments boom

Of the 28 new players, 19 have been granted in-principle authorisation by the central bank; the applications for the rest are under consideration

Fintechs see UPI-PayNow linkage as foundation for a global network

On Tuesday, India and Singapore linked their digital payment systems, United Payments Interface (UPI) and PayNow, to enable real-time money transfers

Union Minister Ashwini Vaishnav to inaugurate Digital Payments Utsav today

Union Minister for Electronics and Information Technology, Ashwini Vaishnaw will launch the Digital Payments Utsav on Thursday in New Delhi."As India celebrates 'Azadi ka Amrit Mahotsav' and 'G20 Presidency', MeitY endeavours to increase the access to easy and convenient digital payment solutions to all citizens, with particular focus on inclusion of the hard-to-reach geography and population, including small merchants and street vendors. Accordingly, a comprehensive campaign "Digital Payments Utsav" planned from February 9 to October 9, 2023, in coordination with all stakeholders for the promotion of Digital Payments across the country, with a particular focus on G20 Digital Economy Working Group (DEWG) event cities, namely Lucknow, Hyderabad, Pune and Bengaluru," the Ministry of Electronics and Information Technology said on Wednesday.The event will see the release of a G20 co-branded QR code, the release of a Coffee Table Book showcasing India's journey of global leadership in ...

Travellers to India from G20 nations can use UPI for merchant payments: RBI

UPI transactions touched a record high of 8.03 billion transactions in January, adding up to Rs 12.98 trillion

Paytm, PhonePe to launch UPI Lite for smaller epayments soon: Report

UPI Lite was introduced by the National Payment Corporation of India (NPCI) last year to facilitate small ticket transactions up to Rs 200