Page 23 - Digital Payments

Retail cheque payments down to a trickle in FY20 to 2.96%: RBI data

That the efforts towards digitization have been very successful is clear from the steady fall in the share of paper clearing

To avoid Covid-19 risk, switch to contactless cards before festive shopping

However, beware that if they're stolen, a few transactions of below Rs 2,000 can be made

How a bunch of young Indian CEOs is taking on dark 'Chinese' lending apps

The term Chinese isn't country-specific but refers to shady lenders who trap borrowers with super high interest rates and threats of bodily harm when the money isn't repaid

Contactless conundrum: More blind spots on the nature of proximity payments

The Covid-19 pandemic has given proximity payments a shot in the arm, but clarity on their nature is still elusive

SBI Card: Analysts see more upside given distribution network, biz model

As SBI Card is the largest pure credit-card issuer in India, analysts expect the company to grow faster than the sector average

Digital payments rise at 55% CAGR vy volume in five years to FY20: RBI data

By value, they have grown from Rs 920.38 trillion to Rs 1,623.05 trillion, clipping at a CAGR of 15.2%

PSBs on-board 15 mn account holders on digital payment modes in 45 days

The Finance Ministry on Friday said that public sector banks (PSBs) have on-boarded about 1.5 crore customers on digital payment modes in just 45 days of launch of the 'Digital Apnayen' campaign. The campaign, aimed at encouraging customers to use digital banking channels, was launched on August 15 under the aegis of the government's Digital India initiative. "Pushing digital payment adoption further with the #DigitalApnayen campaign! Started on 15th Aug'20, DFS's campaign has already onboarded >1.58 Cr. Customers and has resulted in deployment of 50k PoS, >3L QR codes & 18k BHIM Aadhaar pay devices in just 45 days," Department of Financial Services said in a tweet. Under the campaign, banks were asked to on-board a minimum 100 new customers including merchants and financial inclusion account holders by each branch on digital payment mode. Banks were also advised to consider reward and recognition programme for their branches and business correspondents and other field ...

Security lax in card purchases amid pandemic nudge towards digital payments

Study says only 27.9% of global organisations were able to maintain full compliance with Payment Card Industry Data Security Standard. This is a 27.5 percentage point drop over 2016

India leads world, processes 41 mn real-time transactions a day: Report

Real-time payments doubled this year and transaction value increased by 80 per cent, says FIS Global.

Top headlines: India launches gas price reforms, US restricts H-1B visas

Google is facing a new antitrust case in India in which the US tech giant is alleged to have abused its Android operating system's position in the smart television market.

Financial services becomes next battleground for PhonePe, Amazon and Google

Walmart-owned PhonePe has become the fastest-growing insure-tech distributor in India within just 9 months of the insurance category going live on the digital payments app

UPI transaction volume tops 1.7 bn in Sept, crosses Rs 3 trn by value

The coronavirus (Covid-19) pandemic has resulted in massive adoption of UPI in the offline and online segments

Facebook simplifies cross-posting across its apps, unifies payment

Facebook said the portal centralises payment, contact and login information across its family of apps

We are a network of networks, says Visa Group's T R Ramachandran

The new-age payments' ecosystem has the potential to upset the apple cart of even a well-entrenched global player like Visa International

PSBs on-board 10 mn account holders on digital payment modes in a month

The campaign, aimed at encouraging customers to use digital banking channels, was launched on August 15 under the aegis of the government's Digital India initiative

IDFC First Bank to launch contactless debit card payment on phone next week

SafePay enables contactless payments of up to Rs 2,000 per transaction and up to a limit of Rs 20,000 per day

We don't share customer data with 3rd party outside payments flow: Google

"This is to clarify that press reports on the basis of the affidavit filed by Google before the Delhi High Court, do not represent the complete facts," a Google Pay spokesperson said on Friday

Allowed to share GPay transaction info with NPCI permission: Google to HC

The high court on Thursday listed the matter for hearing on November 10 as the Centre and Reserve Bank of India (RBI) have not filed their responses yet

Over 16.34 bn digital transactions registered in April-Aug: Sanjay Dhotre

Digital payments have increased in the country during the last three years from 2,071 crore digital transactions in FY2017-18 to 3,134 crore in FY2018-19, and further to 4,572 crore in FY2019-20

Google Pay adds tap-to-pay feature for Axis, SBI card users: Details here

Google Pay introduced tokenisation feature at its Google for India 2019