Page 7 - Digital Payment
Easebuzz gets RBI's in-principle nod for Payment Aggregation Authorisation
In March 2020, RBI issued guidelines to regulate the Payment Aggregators and Payment Gateways that facilitate payments in the online space
 "Easebuzz gets RBI's in-principle nod for Payment Aggregation Authorisation")
Fintech firm Twid raises $12 mn to expand reward points-based service
Company has more than 40 million registered users and it works with 50,000 merchants
 "Fintech firm Twid raises $12 mn to expand reward points-based service")
UPI-type protocol ONDC to be gradually expanded to more cities: Goyal
The presence of open network for digital commerce, a Unified Payments Interface-type protocol, will be gradually expanded to more cities after the successful launch of its pilot phase
 "UPI-type protocol ONDC to be gradually expanded to more cities: Goyal")
BharatPe back on track after Ashneer controversy, records 112% growth
BharatPe said it also reached an all-time high of $18.5 billion in annualised total payment value (TPV) -- a growth of 50 per cent over the last quarter
 "BharatPe back on track after Ashneer controversy, records 112% growth")
Phishing in troubled waters? Take cover in cyber liability, say experts
Protect family's data, finances; consider floater cover as well
 "Phishing in troubled waters? Take cover in cyber liability, say experts")
India saw 9.36 bn transactions worth Rs 10.2 trn in Q1 2022, UPI leads
India saw 9.36 billion transactions amounting to Rs 10.25 trillion in the first quarter (January-March period) via various payment modes led by UPI, a new report showed
 "India saw 9.36 bn transactions worth Rs 10.2 trn in Q1 2022, UPI leads")
As RBI rings in changes, here is why SBI Cards is the darling of analysts
SBI Cards' market share in terms of the number of credit cards has moderated by around 10 basis points to 19.1 per cent
 "As RBI rings in changes, here is why SBI Cards is the darling of analysts")
Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services
Other goals in RBI's vision document include launch of CBDC, linking credit cards and credit components of banking products to UPI
 "Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services")
Is India ready for tokenization this time?
Last year, the RBI directed merchants not to store customer card details on their servers. And the revised implementation date is drawing close now. Is India ready for this big payment system reform?
 "Is India ready for tokenization this time?")
TCS to take decade-long relationship with SBI Cards to a new level
The tech firm will expand the next leg of digital transformation at SBI Cards
 "TCS to take decade-long relationship with SBI Cards to a new level")
PPI rapidly catching on as a bottom-of-the-pyramid transaction system
These PPI options are fast becoming the cards of choice for the vast majority of Indians as per capita income creeps upwards.
 "PPI rapidly catching on as a bottom-of-the-pyramid transaction system")
Pine Labs makes majority investment in payment solution provider Mosambee
The leadership team at Mosambee will continue to operate independently.
 "Pine Labs makes majority investment in payment solution provider Mosambee")
UK's Winvesta offers Indian exporters alternative payment gateway
UK-headquartered Winvesta, a neobank building cross-border banking and wealth management solutions, has launched a foreign payment collections system for Indian exporters.
 "UK's Winvesta offers Indian exporters alternative payment gateway")
'Tap to Pay': Apple announces contactless payments via new iPhones
Tap to Pay on iPhone will be available for payment platforms and app developers to integrate into their iOS apps and offer as a payment option to their business customers in the US first, Apple said
 "'Tap to Pay': Apple announces contactless payments via new iPhones")
Innoviti raises Rs 80 cr in first close of its Series D fund round
Innoviti is looking at raising Rs 400 crore in primary funding in Series D to fuel its growth with a plan for a listing in the next two to three years.
 "Innoviti raises Rs 80 cr in first close of its Series D fund round")
UPI signs off 2021 on a high: Dec transaction value crosses Rs 8 trillion
Record year for UPI, clocked 38 billion transactions worth Rs 71.59 trillion
 "UPI signs off 2021 on a high: Dec transaction value crosses Rs 8 trillion")
Airtel Payments Bank surpasses 1 billion transactions mark in Q2
Airtel Payments Bank crossed one billion transactions volume milestone on its platform during September quarter 2021-22, according to sources
 "Airtel Payments Bank surpasses 1 billion transactions mark in Q2")
Credit card users spent Rs 39,000 cr on digital payments in 2021: Report
Expenditure on food and utility bills remained consistent during all months while food and beverages saw high spending after the lockdown restrictions were eased from July to October
 "Credit card users spent Rs 39,000 cr on digital payments in 2021: Report")
Fintech leading India's banking revolution but it's hampered by old rules
The country's licensing policy for financial institutions is past its sell-by date. Innovative solutions are out there but require regulation.
 "Fintech leading India's banking revolution but it's hampered by old rules")
MeitY concludes Digital Payment Utsav with a challenge to bankers
Minister Ashwini Vaishnaw urges them to create a platform as powerful and seamless as UPI, think of more ways of providing quick and easy credit to MSMEs and people at the bottom of the pyramid
 "MeitY concludes Digital Payment Utsav with a challenge to bankers")