Page 22 - Digital Payments

Amazon, Google, Facebook vie for a piece of India's digital payments market

The companies are part of four consortia preparing to apply for licenses to operate retail payments and settlement systems in the country

Several big businesses are in fray for setting up NUE. What is it?

Reliance Industries, the Tata Group and digital payments major Paytm are reportedly in fray for setting up New Umbrella Entity (NUE) for retail payments

UPI registers 2.29 billion transactions worth Rs 4.25 trillion in Feb

This is up 73% by volume and 90% by value YoY; FASTag touches all-time high by both volume and value

Paytm crosses 1.2 bn monthly transactions, maintains leadership position

Financial services firm sees 15% month-on-month growth in offline merchant payments

RBI issues master direction to ensure security of digital payments

The Reserve Bank on Thursday came out with a Master Direction for banks and card-issuing entities laying down common minimum standards to ensure security of digital payments.

BS Technology Round Table: Covid-19 pandemic sends digital payments soaring

At the Business Standard Unlock BFSI 2.0, leading minds of the payments industry and fintech players discuss the opportunities and challenges thrown up by Covid

Tyler to buy NIC for $2.3 billion as Covid-19 speeds online payment shift

Under the terms of the deal, NIC shareholders will get $34 per share in cash, a premium of about 14% to its last closing price

Razorpay posts 3-fold growth in payment volume, eyes 5 mn new businesses

Razorpay plans to invest heavily in strengthening the security and fraud analytics infrastructure

PayPal says US consumer watchdog investigating payment app Venmo

The demand from the US Consumer Financial Protection Bureau was made last month, the digital payment processor said in a regulatory filing

PhonePe distributes ESOPs worth Rs 1,500 crore among all employees

The digital payments firm has rolled out the compensation to all its employees ranging from software engineers, product managers to customer experience and on-ground sales agents

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

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

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

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

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

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

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

RBI working committee in favour of setting up NPCI-type agency for fintechs

RBI panel favours new structure for better supervision

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

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