Page 21 - Digital Payments
UPI Jan volume up 77% to 2.3 bn year-on-year, value doubles to Rs 4.3 trn
Deals up 3% by both, value and volume, over December 2020 figures
 "UPI Jan volume up 77% to 2.3 bn year-on-year, value doubles to Rs 4.3 trn")
Airtel Safe Pay provides three-layer safety for a fraud-proof future
With Airtel Safe Pay transactions, money gets debited only after subscriber's nod
 "Airtel Safe Pay provides three-layer safety for a fraud-proof future")
Pine Labs launches AllTap app to turn phone into payment acceptance device
With AllTap, small merchants who aren't ready to invest in a traditional point-of-sale terminal can immediately start accepting digital payments on their NFC-enabled smartphone
 "Pine Labs launches AllTap app to turn phone into payment acceptance device")
Migration from cash-based economy to digital is a work in progress: RBI
Still a long road ahead, especially across Tier III-VI) and societal cross-sections (senior citizens, migrant workers), apex bank in booklet on Payment Systems
 "Migration from cash-based economy to digital is a work in progress: RBI")
Instamojo onboards more than 50% new recruits from Tier 2 and 3 towns
The fintech firm announced work from home as a permanent feature in the days ahead. The recent hiring cycle saw new hires from Tier II and III towns such as Krishnagiri, Kolar, Dehradun and Sitapur
 "Instamojo onboards more than 50% new recruits from Tier 2 and 3 towns")
Online retail majors focus on sprawling small retailer base to boost reach
Small retailers are chary about integrating digitally with larger players on grounds that it will give them access to their customer bases
 "Online retail majors focus on sprawling small retailer base to boost reach")
Bajaj Finance net down 30% to Rs 1,049 crore, forays into e-payments
With this app, Bajaj Finance will make an entry into the digital payments space
 "Bajaj Finance net down 30% to Rs 1,049 crore, forays into e-payments")
RBI working committee in favour of setting up NPCI-type agency for fintechs
RBI panel favours new structure for better supervision
 "RBI working committee in favour of setting up NPCI-type agency for fintechs")
The zero MDR has affected the PoS business: Worldline's Deepak Chandnani
India has some 5.2 million PoS units, but a country of our size needs more, DEEPAK CHANDNANI, managing director, Worldline (South Asia and the Middle East), tells Raghu Mohan
 "The zero MDR has affected the PoS business: Worldline's Deepak Chandnani")
Serial regulatory changes slow down PhonePe progress ahead of IPO
The Walmart-owned digital wallet has to grapple with regulatory changes restricting its expansion that coincide with its IPO plans in 2023
 "Serial regulatory changes slow down PhonePe progress ahead of IPO")
Online sales see growth from Tier 2, 3 cities, UPI to rule payments: Report
For Tier II and Tier III cities, localised customer support in regional languages and dialects will help businesses and brands to gain a competitive edge
 "Online sales see growth from Tier 2, 3 cities, UPI to rule payments: Report")
RBI constructs index to capture digital payments penetration in country
RBI has constructed a composite digital payments index (DPI) with March 2018 as the base period to capture the extent of digitisation of payments across the country
 "RBI constructs index to capture digital payments penetration in country")
Paytm revenue up 1.4% to Rs 3,629 cr; losses decrease 30% to Rs 2,942 cr
The company's total expenses for the fiscal were reported as Rs 6,226 crore on a consolidated basis
 "Paytm revenue up 1.4% to Rs 3,629 cr; losses decrease 30% to Rs 2,942 cr")
WhatsApp means Business, joins payments companies in race for revenue
Even as Paytm, PhonePe and Amazon Pay collectively lost $1 billion in FY19, WhatsApp has come up with Business, its first revenue-making initiative in India
 "WhatsApp means Business, joins payments companies in race for revenue")
Interchange of Rs 15 makes ATM channel unviable: NCR India's Navroze Dastur
NCR Corporation, the world's largest vendor of ATMs, has over 50 per cent share of the local market, but business could be better, says NAVROZE DASTUR
 "Interchange of Rs 15 makes ATM channel unviable: NCR India's Navroze Dastur")
Chinese hackers targeted Indians with e-shopping scams, says report
The hackers created bogus links and asked internet users to click on them to participate in online contests and win prizes
 "Chinese hackers targeted Indians with e-shopping scams, says report")
Snapdeal partners NPCI to enable doorstep QR Code payments for orders
Snapdeal said it has partnered with National Payments Corporation of India (NPCI) to allow shoppers to make QR-based digital payments at the time of accepting delivery of their orders
 "Snapdeal partners NPCI to enable doorstep QR Code payments for orders")
Covid-19 is reshaping daily habits for the better, says new study
DIY, digital content consumption, home cooking here to stay. Health and safety key
 "Covid-19 is reshaping daily habits for the better, says new study")
RBI to introduce digital payment security control directions: Governor Das
RBI Governor Shaktikanta Das said the central bank will be introducing digital payment security control directions for regulated entities
 "RBI to introduce digital payment security control directions: Governor Das")
UPI records over 2 bn transactions for second time in a row in November
Launched in 2016, UPI crossed 1 bn transactions for the first time in Oct 2019. While it took UPI three years to reach a billion transactions in a month, the next billion came in just a year
