Page 16 - Digital Payments

B2B payments app Rupifi raises $25 mn from Bessemer, Tiger Global, others

The latest funding is Rupifi's second investment round within nine months, since the pre-series-A round in March 2021

Paytm users can now tap phone on PoS devices to make offline payments

This will be possible even if phone is locked or there is no mobile data or internet connection. Service available on both Android and iOS

RBI releases framework for offline digital payments

To push digital transactions in rural and semi-urban areas, the RBI on Monday issued a framework allowing offline payments up to Rs 200 per transaction, subject to an overall limit of Rs 2,000.

With ATM withdrawals set to get costlier, reduce dependence on cash

Beware of keypad manipulation and heat mapping while using the ATM or PoS machine

ED attaches funds worth over Rs 40 crore in mobile apps payments fraud case

The attached money, in accordance with the provisions of the Prevention of Money Laundering Act (PMLA), is in the form of bank deposits and an amount held with payment solutions providers

Physical, digital financial services to co-exist in India: SBI chairman

On the emergence of the co-lending model in India, he said it is an essential mechanism which was initially meant for establishing connections with the last mile

MPAI, ADIF write to RBI for an extension of tokenisation deadline

MPAI and ADIF have in their letter highlighted several operational challenges that will hinder the transition to the token-based payments ecosystem

Battered Paytm gets its first bullish rating from a major broker

Morgan Stanley has started coverage on the digital payments startup with an overweight rating and a price target of 1,875 rupees, which implies 43% upside from Tuesday's close

Govt to refund MDR losses to banks on digital payments for FY23

Payment companies like Visa and Mastercard have been seeking a level playing field with RuPay, claiming the government is favouring the latter

SoftBank Vision Fund 2 leads $60 mn funding for Payments tech firm Juspay

Juspay processes 300 mn online transactions a month with gross value of over $5 bn; has highest number of payment SDK (software development kits) installed on 250 mn mobile phones

Jio, WhatsApp signal a deeper embrace in online retail and digital payments

Slated for launch in 2022, JioMart's conversational e-commerce push on WhatsApp will serve up catalogues from merchants and allow users to order essentials both on demand and as subscriptions

Worldline partners with major card networks to launch tokenisation solution

Worldline said that it has developed a fully interoperable plug-and-play solution to enable card on file tokenisation using single integration

Reserve Bank may rationalise some payment charges, says industry

Others say central bank may relook zero merchant discount rate on RuPay, UPI

Fintech unicorn Razorpay aims to achieve $90-bn TPV by the end of 2022

The firm powers payments for over 8 million businesses that include Facebook, Ola, Zomato, Swiggy

Razorpay eyes $90-bn TPV, launches new solutions to enhance experience

Fintech major Razorpay said it has seen strong growth in the number of payments processed on its platform, and it expects its total payment volume to touch $90 billion by end of next year

Discussion paper on charges in digital payments to be out in a month

Experts said at no point in time will customers be charged for payments

We're almost cashless societies, but let's not rush too quickly into future

It isn't the pandemic that's putting this popular means of payment out of existence. All that Covid-19 has done is to accelerate a trend that was already with us

RBI to soon float paper on reasonableness of charges on digital payments

UPI is the single largest retail payment system in the country in terms of volume of transactions

Neo-socialism: State's expanding tech biz

In a country where many state initiatives have been marred by glitches, delays, and corruption, RuPay and the UPI are revolutionary achievements

India reaching out to many nations to leverage stack it has built: NPCI CEO

Speaking at the InFinity Forum, Dilip Asbe said there has to be a local or domestic stack because every country has its own complexities and diversities