Page 12 - Digital Payments

RBI to set up fraud registry to check banking frauds: Executive Director

Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks

Statsguru: Six charts explain the rise of UPI transaction volumes

Smaller transactions dominate the system. Nearly seven out of every 10 transactions initiated via UPI are for less than Rs 500

Vijay Shekhar Sharma to continue as Paytm's MD & CEO for another 5 yrs

Around 99.67% shareholders voted in favour of his reappointment

RBI moots 'tiered' charge on payments through UPI, seeks public feedback

The RBI has asked for feedback and suggestions before October 3

'Aspirational India' entering 5G era, optical fibre to reach villages: Modi

PM's Independence Day speech celebrates start-up entrepreneurs in smaller cities and towns

India leads the world in real-time digital payments, says PM Modi

Success shows 'innovation prowess' of indigenous payment structure and fintech companies, he says

The path to greater financial inclusion

Data for 2021 suggest that at least 76 per cent of the global population holds a bank account

42% Indians experienced financial fraud in last three years: Report

While digitisation of payments and banking has benefitted both common people and government, financial fraud has been on the rise, with nearly 42 per cent of Indians becoming victims in last 3 years

BharatPe founder Bhavik Koladiya quits, months after Ashneer Grover's exit

According to a media report, Koladiya's departure is due to a disagreement between him and BharatPe as well as the company's Chief Executive Officer Suhail Sameer.

UPI records 6 billion transactions in July, highest ever since 2016

UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch

Internet usage grows faster in rural India; knowhow still a deterrent

346 million make online transactions for e-commerce and digital payments, with coronavirus boosting practice

Digital payments record 29% annual growth at March-end 2022: RBI data

The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 as against 304.06 in September 2021 and 270.59 in March 2021

Panel urges plan to help local vendors build ONDC-compatible technical tool

Says no clarity on ONDC network's liability in case a consumer is delivered substandard products; local businesses will also find it hard to compete with e-commerce giants

Phishing in troubled waters? Take cover in cyber liability, say experts

Protect family's data, finances; consider floater cover as well

Facilitated Rs 3,600 cr loans in Q1FY23, up 112% QoQ, says BharatPe

Helped disbursals to over 120,000 merchants in Q1FY23, up from 66,000 merchants in Q4FY22

Digital push needs caution

The RBI should take note of some critical lacunae

RBI aims to make India a powerhouse of payments globally by 2025: Experts

The RBI came out with its 'Payments Vision 2025' document which also talks about ring-fencing of domestic payment systems, including the need to mandate domestic processing of payment transactions

PhonePe sells over 1 mn two wheeler insurance policies on its platform

Sees over 75% of overall insurance purchases from tier 2 & 3 cities

MobiKwik announces launch of 'AutoBill Pay' feature for its 25 mn ZIP users

This feature is designed to help ZIP users pay multiple bills such as electricity, water, gas, mobile, DTH, etc. automatically every month using the BNPL credit line

Digital payments in India projected to reach $10 trn by 2026: Report

Smaller cities have recorded high acceptance of such transactions as cash use declines in country.