Page 5 - Digital Payment

UPI transactions mark new peak of Rs 17.4 trn in Nov, dip in volume

FASTag transactions increase to 321 mn in Nov, compared to 320 mn in Oct

RBI and NPCI look for offline methods to boost digital payment adoption

RBI has established a sandbox allowing startups to experiment with various central bank-backed digital currency (CBDC) use cases

Why it is time for a single QR code for all the payments in the world

There is a lot of work to be done. Consolidating the labels in a single repository doesn't always solve the problem of multiple contractual relationships, each of which comes with its own accounting

Mobile ownership among women remains low, says DLAI CEO Jatinder Handoo

At the BS BFSI Insight Summit 2023, top digital payment experts discuss the next leg of growth of digital payments and the issues it is facing

Payment is not like sending a chat message or Insta post: PhonePe's Nigam

At BS BFSI Summit 2023, Nigam said PhonePe had the belief that it would win because it was willing to deploy a large workforce on the merchant acceptance and operating side

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