Page 14 - Digital Payments

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.

UPI processed nearly 6 billion transactions worth Rs 10 trillion in May

NPCI sets its eyes on processing a billion UPI transactions a day on its platform within the next 3-5 years

Dunzo, PhonePe among 24 e-commerce firms joining India's open network

Real-time transactions in retail and food delivery have started in Delhi, Bengaluru, Shillong

How ONDC is set to democratise and transform India's e-commerce landscape

While the pilot is being conducted in five cities - Delhi, Bengaluru, Coimbatore, Bhopal and Shillong - ONDC is on course for a pan-India launch by August that will see it introduced across 100 cities

What is RuPay - India's card payment network?

Chief operating officer of National Payments Corporation of India, Praveena Rai, had said the aim of RuPay was to serve the entire population. That's an ambitious goal. Let's understand what RuPay is.

40% of global real-time digital payments happened in India in 2021: PM Modi

The Prime Minister also talked about the success of the Direct Benefit Transfer (DBT) schemes, highlighting the large volumes of money that have been transferred directly to the beneficiaries

Decoded: How ONDC plans to level e-commerce playing field in India

The open network concept will not be restricted to the retail sector but will extend to mobility, food delivery, travel, among others

WhatsApp confirms giving cashback for making digital payments in India

The company is giving away Rs 11 cashback up to three times by sending money to three different contacts via unified payments interface (UPI) on WhatsApp

What is UPI123Pay?

Transactions through UPI are registering a rapid growth in India. And RBI's initiative to introduce it in feature phones is set to take it to another level. Watch our next report to know why

Card-less cash withdrawals at ATMs may burden banks with additional costs

Of the tad over 250,000 ATMs in India, nearly 35,000, or 14.58 per cent, are recyclers

UPI to stay on top; digital currency to drive payments in next 5 years

UPI will likely continue to dominate the digital payments space in the country, a study has said