Digital Payments

India's unincorporated sector employment crossed 150 million in Jan-Mar

Employment in India's unincorporated non-agricultural sector reached a record 151.7 million in the March quarter, led by strong rural and services-sector growth

Currency in circulation rises 11%, nears record ₹43 trillion by mid-May

In absolute terms, CiC expanded by Rs 1.15 trillion during the first one and a half months of FY27, indicating sustained demand for cash despite continued growth in digital payments

Stablecoins fail core tests of money; CBDC not risky: Reserve Bank of India

The Reserve Bank of India said stablecoins fail key tests of money and warned that such virtual digital assets pose financial stability and jurisdictional risks

Banks back RBI's proposed 1-hour lag for digital payments above ₹10K

But they seek increase in threshold to ₹25,000; payment industry flags operational issues

PhonePe launches AI tool to speed up merchant payment integrations

Walmart-owned PhonePe says its AI-powered integration layer can reduce merchant onboarding timelines from weeks to minutes, especially for small businesses

Time to say goodbye to subsidy for UPI? A case for tiered MDR regime

A time-bound, tiered MDR on large commercial UPI merchants, with small merchants and individuals permanently exempted, is in order, and so is revenue allocated to strengthen infra & rural expansion

PhonePe reaches 700 million users milestone amid strong fintech growth

PhonePe has crossed 700 million users, underscoring rapid growth in India's digital payments ecosystem, even as the fintech firm pauses its IPO plans amid market volatility

NBFCs seek access to fraud registry, but may need amendment to RBI Act

Non-banking financial companies seek access to RBI's central fraud registry, arguing that limited access raises fraud risks as lending partnerships with banks deepen

PayU is a bet on digital commerce in India, says CEO Anirban Mukherjee

PayU bets on UPI innovation, AI-led commerce and merchant solutions to drive next phase of growth as India's digital payments market evolves

Razorpay integrates Google Pay for cross-border payments by exporters

Razorpay has integrated Google Pay for cross-border transactions, allowing Indian exporters to offer wallet-based checkout and improve payment success in global e-commerce

EPFO delays UPI-linked PF withdrawals to May-end amid final testing

EPFO to enable UPI-based PF withdrawals by May-end under CITES 2.0 upgrade, promising faster access but requiring a brief system shutdown during migration

Kiwi cofounder Mohit Bedi quits CBO role, moves into advisory position

Bedi previously worked in fintech PayU and in Axis Bank. At Axis Bank, he was the senior vice-president (SVP) and business head - acquiring and commercial cards

Bankers see merit in RBI's one-hour e-payment lag despite cost concerns

Bankers support RBI's proposal for delayed digital payments to curb fraud, but flag infrastructure costs and suggest raising the threshold from Rs 10,000 to Rs 25,000

RBI's lagged credit proposal may raise costs, need switch changes

RBI's proposal for lagged credits in digital payments could require switch-level changes, raising costs for UPI ecosystem and banks, industry sources say

RBI paper suggests 1-hour lag for digital payments over ₹10k to curb frauds

RBI proposes a one-hour delay for digital payments above Rs 10,000, alongside safeguards like trusted authentication and account monitoring, as fraud cases surge sharply

RBI proposes 1-hour delay for digital payments above ₹10,000 to curb fraud

Central bank suggests transaction delays, trusted-person authentication and stricter account controls as digital payment frauds surge in volume and value

UPI QRs grow 15% in 2025 as merchant adoption expands: Worldline report

Growth in QR codes and transaction volumes underscores rising merchant adoption and expanding digital payments ecosystem across India

RBI plans cross-border revamp, lighter rules for small payment firms

RBI's Payments Vision 2028 proposes reforms in cross-border payments and a lighter regulatory framework for small payment firms to boost innovation and efficiency

Kiwi appoints Sumeet Basrani as new CBO to scale credit-on-UPI business

Kiwi appoints Sumeet Basrani as chief business officer to drive growth and expand access to its credit-on-UPI offering amid rising adoption of digital payments

Explained: New digital payments rules | UPI payment | Online payment | Card payment | RBI

India’s digital payments system will see tighter security from April 1, 2026, with the Reserve Bank of India (RBI) making two-factor authentication (2FA) compulsory for all transactions.