Page 26 - Digital Payments

Digital payments in India likely to grow to Rs 7,092 trn by 2025: Report

By 2025, wallets are expected to have a higher penetration and lower-income would eventually drive multiple small-ticket transactions

National Payments Corp to take UPI, Rupay global through new subsidiary

It wants to take its products UPI and RuPay Card global and assist other countries in establishing a 'real time payment system' or a 'domestic card scheme'

CCI rejects petition alleging WhatsApp using clout to enter payment space

The National Payments Corporation of India (NPCI) had granted permission to WhatsApp in February to operate its payment service to 10 million users in India in the first phase

Covid-19 and the 'techtonic' shift in India Inc's journey towards digital

The pandemic has changed the way businesses across the spectrum look at technology adoption--it no longer fascinates simply because it has become a necessity

Retail payments register 28% jump in June; digital mode sees 23% rise

Total digital payments in the economy recovered to Rs 113.4 trillion in June, compared to Rs 92.03 trillion in May, up 23 per cent

RBI allows offline payments of up to Rs 200 through cards on pilot basis

The scheme is aimed at encouraging customers to opt for digital payments even in those places where the internet connectivity is poor

RBI to set up 'Innovation Hub' for financial inclusion, efficient banking

The Hub will act as a centre for ideation and incubation of new capabilities

Digital payments see good growth in Jul; UPI transactions up 11% to 1.49 bn

While there was a blip in the transactions in April due to the nation-wide lockdown, digital payment transactions soon recovered as the nation opened up

Govt document reveals cybersecurity lapses at NPCI in 2019: Report

The govt audit highlights a lack of encryption of personal data at the National Payments Corporation of India (NPCI) which forms the backbone of the country's digital payments system

Weaker fintechs face crisis to mature as Covid-19 casts shadow over funding

Signs of stress among even relatively well established fintechs are starting to emerge, say analysts

PM Modi reviews implementation of micro-credit scheme for street vendors

The PM expressed satisfaction on the use of end-to-end IT solution through a web-portal and mobile application for administration of the scheme to ensure transparency, accountability, speed

India to contribute 2.2% of world's digital payment market by 2023: Report

The Covid-19 pandemic is expected to further amplify the reach of digital payments with people terrified of using cash

Amazon India steps up insurance and credit biz, riding on its payments app

Amazon Pay has started making deep inroads in India's booming digital payments market and is competing aggressively with PhonePe, Paytm and Google Pay

Govt's Zero MDR move has hit payments industry badly, says RBI committee

Panel believes move will discourage innovation, has already led to contraction in national gross value of services

UK-based fintech unicorn Rapyd enters India with flexible payment solution

Partners with several key players in India's payments ecosystem such as Paytm Payments Bank, PhonePe, PayU and HDFC Bank to roll out the solution

MobiKwik FY20 revenue surges 134% to Rs 379 cr; eyes profits this fiscal

MobiKwik's merchant-facing payment gateway business registered net revenue of Rs 190 crore in FY20, compared to Rs 101 crore in FY19 on a standalone basis

Dunzo suffers data breach; users' phone numbers, email IDs exposed

Google-backed delivery services startup says clients' payment information was not compromised.

India's digital payment transactions jump 23% in last 30 days: Report

During the 101 days of lockdown, March 24-July 2, the online education sector grew by 23 per cent as extended lockdown has led to a rise in demand for online courses

Wirecard former COO Jan Marsalek in soup over two disputed deals in India

The suit alleges Marsalek took part in negotiations leading to the acquisition of Hermes by a Mauritius-based private equity fund called Emerging Market Investment Fund in 2015.

Fresh troubles for SoftBank's Masayoshi Son as Wirecard drama unfolds

Wirecard won't force SoftBank to write down any assets - because the tech conglomerate never put money into Wirecard itself.