Page 6 - Digital Payment

PhonePe investors had to pay Rs 8,000 cr taxes to shift base to India: CEO

Sameer Nigam says move worked due to presence of long-term investors such as Walmart, Tencent and several balance sheet investors who can take a multi-decade view

Cabinet clears Rs 2,600 cr to promote RuPay debit card, BHIM transactions

The scheme was first announced in FY22 Budget with a financial outlay of Rs 1,300 crore

Digital payment plaints highest in RBI's integrated ombudsman scheme

Complaints relating to digital modes of payment and transactions were the highest, constituting 42.12% during the year

Best of BS Opinion: Slowdown year, Indian rupee goes digital, and more

Here is the best of Business Standard's opinion pieces for today

RBI to streamline charges for a safer, more affordable payments system

The central bank had released a discussion paper in August that outlined existing rules for charges, while presenting other options through which these could be levied

CBDC versus the rest: Can RBI's digital currency replace physical cash?

The central bank digital currency is unlikely to replace cash and other digital mediums of transactions but could coexist with them

Paytm's 75% share slump is world's worst for large IPOs in a decade

Paytm's stock price dive is the steepest first-year slide globally among IPOs that raised at least the same amount since Spain's Bankia SA's 82% drop in 2012

Google Play allows UPI Autopay payment for subscription-based purchases

Autopay helps customers make recurring payments using any UPI application

Paytm on path to profitability; Oct loan disbursement up 387% YoY: CEO

Merchant subscriptions driving higher payment volumes, says Vijay Shekhar Sharma

Six years after demonetisation: e-transactions gain, but cash is still king

The Covid-19 pandemic has boosted digital transactions, with UPI turning out to be the biggest gainer, however, the dependence on cash has not reduced

For first time in decades, cash in circulation dips in Diwali week: Study

Technology changing how Indians make payments; trend will help monetary transmission: SBI Research

PhonePe revenue up 138% to Rs 1,646 cr; losses narrow to Rs 671 cr in FY22

Better revenue was primarily driven by robust growth across all businesses; contribution margin grew to 88% from 84% the previous year

Travelling to Europe? Now make hassle-free payments using UPI on your phone

Those visiting Europe will be able to make payments through UPI as the NPCI International Payments Ltd (NIPL) has entered into a partnership with European payment services facilitator Worldline. NIPL is the global arm of the National Payments Corporation of India (NPCI). The partnership between NIPL and Worldline is aimed at expanding acceptance of Indian payment means across Europe, according to a joint release issued on Tuesday. Under the partnership, Worldline's QR code-based mechanism will allow merchants' Point-of-Sale (PoS) systems in Europe to accept UPI payments from Indians using their mobile phones. Later on, the Indian customers will also be able to use their RuPay debit or credit cards to make payments in Europe. This will result in a multitude of customer-related merchant benefits due to an increase in footfall and spending from Indian tourists, NPCI and Worldline said in the release. Currently, Indian customers pay through international card networks when they trav

No break-up fee from Prosus after termination of deal with BillDesk

PayU's expansion plans which it had charted out based on the acquisition have been put on hold for over a year

PhonePe completes process to move domicile from Singapore to India

All businesses, and entities now owned by and consolidated under PhonePe Pvt Ltd-India

NPCI sets Oct 31 as deadline to activate offline payments on RuPay cards

The move will breathe life into the RBI's January 3 framework which sought to give a fillip to offline payments and lead to the activation of the One Nation, One Card for on-the-go payments

UPI Lite: A payment method that allows you to pay without PIN or internet

The upper limit for payments has been set at Rs 200; wallet balance cannot exceed Rs 2,000 at any point

Amazon Seller Services reports Rs 3.6K-crore loss; revenue up 32%

E-commerce firm's units for digital payments and selling cloud service report losses too for FY22

India leading globally in digital payments, says Rajeev Chandrasekhar

Under PM Kisan Samman Nidhi Yojana, up to Rs 19,000 crore were transferred directly into bank accounts of 95 million beneficiaries in a single day, he added

The case for pricing UPI transactions and what's at stake for banks

Banks pay a switching fee running into hundreds of crores every year for UPI, but have to offer the service for free