Sunday, July 06, 2025 | 10:06 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Digital Payments

UPI transaction volume dips 1.5% in June, after record rise in May

After reaching a record high in May, UPI transactions dropped in volume and value in June 2025, with IMPS, FASTag and AePS data also showing month-on-month declines

UPI transaction volume dips 1.5% in June, after record rise in May
Updated On : 01 Jul 2025 | 11:37 PM IST

RBI, banks to launch DPIP platform to combat rising digital payment frauds

In a bid to rein in the increasing incidence of digital payment frauds, major public and private sector banks have been roped to develop Digital Payment Intelligence Platform (DPIP) as a Digital Public Infrastructure (DPI) under the supervision and guidance of the RBI. The proposed platform seeks to bolster fraud risk management by facilitating real-time intelligence sharing and gathering, thereby preventing fraudulent digital transactions, sources said. According to sources, the institutional structure of the proposed entity would be created with the help of both public sector and private sector lenders as fraud is a common monster. Earlier this month, a high-level meeting in this regard was convened to finalise the structure of the platform where senior bank officials, RBI officials and other stakeholders were present. Since the issue is one of the top agenda for both the government and the Reserve Bank of India (RBI), sources said the platform should become operational in the ne

RBI, banks to launch DPIP platform to combat rising digital payment frauds
Updated On : 22 Jun 2025 | 3:32 PM IST

Sitharaman says India's finance future is 'phygital', driven by UPI

At the Digital Payments Awards, Sitharaman lauds UPI's global success, urges fintech to tackle cybersecurity and deepfakes, and credits RBI's enabling regulation

Sitharaman says India's finance future is 'phygital', driven by UPI
Updated On : 18 Jun 2025 | 10:17 PM IST

PayNearby plans to add 500K retailers, hire 300-400 people by March 2026

Branchless banking and digital network PayNearby on Thursday said it plans to expand its national footprint by adding 5 lakh retailers over the next two years. The company also plans to hire an additional 300 to 400 team members by March 2026 to support the next phase of growth, PayNearby Founder, MD and CEO, Anand Kumar Bajaj said. The fintech firm employs more than 850 people as of March 31, 2025. "The company is focusing on strengthening platform capabilities, expanding reach, and accelerating UPI-led adoption aimed at onboarding 500 million users across India," Bajaj said. PayNearby plans to further expand its national footprint by adding 5 lakh retailers over the next two years, the official said. "Our growth plan remains centred on expanding our reach and impact across Bharat. In our next phase, we aim to become the third-largest UPI player in the country," Bajaj said. On financial performance, he said the company has recorded 12 consecutive quarters of profitability, ...

PayNearby plans to add 500K retailers, hire 300-400 people by March 2026
Updated On : 12 Jun 2025 | 1:20 PM IST

UPI's contribution to payments ecosystem volume grows to 83.4% in FY25

UPI recorded 185.8 billion transactions in FY25, up 41.7% from FY24, with India's digital payments now accounting for 99.9% of non-cash retail payments, according to RBI data

UPI's contribution to payments ecosystem volume grows to 83.4% in FY25
Updated On : 30 May 2025 | 12:59 AM IST

NPCI steps up UPI vigil to prevent future disruptions in core network

Outlines operational guidelines for 10 APIs linked to UPI

NPCI steps up UPI vigil to prevent future disruptions in core network
Updated On : 23 May 2025 | 12:19 AM IST

India planning to bring 300 million new users onto UPI payments platform

The home-grown payments platform has in the past five years transformed how more than 450 million retail consumers pay for everything from holidays to a cup of tea using their smartphones

India planning to bring 300 million new users onto UPI payments platform
Updated On : 15 Apr 2025 | 7:34 AM IST

One-third of digital payments in 2024 are driven by credit use: Report

Nearly one-third of all domestic digital payment transactions in 2024 were credit-driven, facilitated through credit cards or interest-bearing EMIs, according to a report. According to a report by digital payments fintech Phi Commerce, UPI has become a transformational product in digital payments responsible for 65 per cent of total transactions. While UPI dominates small and mid-value transactions, credit cards and EMIs (equated monthly instalments) are increasingly used for big-ticket purchases, with education, healthcare, and auto ancillary sectors seeing strong growth in digital credit adoption, the report said. Festive shopping, school admissions, and seasonal trends drive spikes in credit usage, showing that consumers rely on short-term credit for high-spend periods, it said. The report is based on analysed transaction data from over 20,000 merchants across the country. As UPI and flexible credit options become mainstream, the future belongs to those who leverage these tools

One-third of digital payments in 2024 are driven by credit use: Report
Updated On : 11 Apr 2025 | 8:02 PM IST

PoS transformation in progress, but business model needs a rethink

The real-time confirmation builds efficiency and trust, keeping operations smooth and allowing the merchant to focus on business

PoS transformation in progress, but business model needs a rethink
Updated On : 06 Apr 2025 | 11:02 PM IST

UPI outage due to financial year-end transaction rush at banks, says NPCI

Transactions volumes declined 7 per cent on March 26 after the UPI network had reported an outage

UPI outage due to financial year-end transaction rush at banks, says NPCI
Updated On : 01 Apr 2025 | 11:56 PM IST

RBI hikes ATM withdrawal fees; higher charges from May 1 - check details

The revision in fees follows requests from white-label ATM operators, who sought higher withdrawal charges due to increasing operational costs affecting their business

RBI hikes ATM withdrawal fees; higher charges from May 1 - check details
Updated On : 25 Mar 2025 | 7:17 PM IST

NPCI's international arm partners with Singapore firm to expand UPI

UPI services will be expanded to more than 12,000 merchants in Singapore

NPCI's international arm partners with Singapore firm to expand UPI
Updated On : 19 Mar 2025 | 4:46 PM IST

Paytm Money gets Sebi registration as research analyst, investment adviser

With this registration, Paytm Money Limited can offer Sebi-compliant research services, including investment insights, research reports, and data-driven analysis, the company said in a statement

Paytm Money gets Sebi registration as research analyst, investment adviser
Updated On : 18 Mar 2025 | 10:01 AM IST

UPI posts 5% dip in volume to 16.11 billion, 7% in value in February

The value declined to Rs 21.48 trillion in February, compared to Rs 23.48 trillion in January

UPI posts 5% dip in volume to 16.11 billion, 7% in value in February
Updated On : 01 Mar 2025 | 3:47 PM IST

UPI Autopay surges threefold as customers shift from cards to digital

Set up of UPI Autopay for various services, including OTT subscriptions, insurance premiums, loan repayments, and utility bills has paved the way for UPI dominance

UPI Autopay surges threefold as customers shift from cards to digital
Updated On : 20 Feb 2025 | 11:26 AM IST

40% of Indian farmers now paying electronically, says McKinsey survey

But they're still relying on traditional farming methods, says McKinsey survey

40% of Indian farmers now paying electronically, says McKinsey survey
Updated On : 06 Feb 2025 | 11:40 PM IST

Fighting digital fraud: From KYC processes to advanced authentication

To prevent fraud, we need better know-your-customer (KYC) processes

Fighting digital fraud: From KYC processes to advanced authentication
Updated On : 31 Jan 2025 | 6:10 AM IST

Digital payments rise 11.1% at Sept end 2024: RBI data on DPI

Digital payments across the country registered an 11.11 per cent year-on-year rise as on September 2024, according to RBI's index that measures the adoption of online transactions. RBI's Digital Payments Index (RBI-DPI) for September 2024 stands at 465.33 as against 445.5 for March 2024, the Reserve Bank said in a statement on Wednesday. "The increase in RBI-DPI index was driven by growth in payment infrastructure and payment performance across the country over the period, it said. 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 (weightage 25 per cent); Payment Infrastructure Demand-side factors (10 per cent); Payment Infrastructure Supply-side factors (15 per cent);

Digital payments rise 11.1% at Sept end 2024: RBI data on DPI
Updated On : 29 Jan 2025 | 8:14 PM IST

Fintech Skydo receives in-principle approval to operate as PA-CB entity

About 11 existing cross-border payment companies can operate as PA-CB with their applications under process, according to the RBI website

Fintech Skydo receives in-principle approval to operate as PA-CB entity
Updated On : 21 Jan 2025 | 11:47 PM IST

Small ticket transactions drag avg retail payments value by 48% in 3 years

The increasing adoption of digital transactions is evident in the robust growth of India's real-time payments system, Unified Payments Interface (UPI)

Small ticket transactions drag avg retail payments value by 48% in 3 years
Updated On : 27 Dec 2024 | 12:12 AM IST