Page 29 - Digital Payments

From UK to India, drivers of digital payments explained in three charts

Data also shows the spread and intensity of digital payments does not always increase in tandem with a country's GDP

Currency in circulation jumps 17% to Rs 21.10 trillion: RBI annual report

The demand for the Rs 500 bill, which is the second highest denomination after the Rs 2,000 note, has soared the highest and now accounts for over 51 percent of the value of currency in circulation

Over 80 payments apps face an uphill battle to turn the country cashless

Many merchants, especially in rural areas, remain unable or unwilling to accept digital transactions due to network connectivity issues and reluctance to pay charges for low-value transactions

Soon, transfer or receive money 24x7: RBI removes NEFT time limit from Dec

Last month, the banking regulator had scrapped the levy on online transactions such as NEFT to make the transfer of funds cheaper

Digital transaction volumes up 51% in 2018-19 to Rs 3,133.5 crore: Govt

Transaction volumes in the first month of the current financial year alone stood at about 313 crore, says Ravi Shankar Prasad.

Bengaluru tops list of most digitised cities, reports highest card payments

According to the Era of Rising Fintech Report, released by Razorpay Software Pvt Ltd, here Thursday, Bengaluru is followed by Hyderabad, Mumbai, Pune and Delhi

MDR waiver to boost UPI payments, may hit earnings of banks, PoS providers

But the move will hit the earnings of banks and PoS providers

Digital transactions surpassed target set by govt: Ravi Shankar Prasad

He added that the target for digital transactions for 2018-19 was set at 3,013 crore, and the total digital transactions registered were 3,133.58 crore

Budget 2019: Slew of measures to give push to digital payments adoption

Govt has proposed no charge or merchant discount rate for companies with over Rs 50 cr turnover accepting payments digitally

A push too hard

Digital payment mandates should be avoided

Spin-off or pivot? What lies beneath Razorpay's foray into lending

Payment solutions provider Razorpay has the hottest start-ups in its portfolio

Digital transactions to grow as cash usage attracts more compliance

Digital transactions to become cheaper and more merchants to accept electronic payments

Budget 2019: Govt to further incentivise digital payments in businesses

Sitharaman said there are several low-cost digital modes of payment available such as BHIM UPI, UPI-QR Code, Aadhaar Pay, NEFT and RTGS that can be used to promote less-cash economy

Letter to BS: Encourage women to accelerate growth of digital transactions

Women in villages find it difficult to move out as they are tied up with household chores

Swiping right on digital payments: Nilekani-led panel to revamp the system

Among others, the panel has recommended a reduction in costs for merchants, acquirers and customers and expansion of the acceptance infrastructure

Paper use, acceptance infrastructure need attention, says RBI report

The report said that the relatively high level of cash in circulation offers scope for a higher level of digitisation of payments

Number of ATMs dips, PoS centres see rise in digital payments push

While digital payments are seeing exponential growth, cash shows no signs of slowing

Unauthorised surcharge impeding e-payment system, finds IIT Mumbai study

It is banks themselves who are causing fraudulent surcharging by resorting to outsourcing of their payments' services, the study said

Payments industry recommends KYC bureau to Nilekani-led RBI committee

PCI meets Nandan Nilekani-led committee, asks for smoother access to transaction infrastructure

UPI's value grew 700% in 2018 while total digital payments fell 1%

UPI 2.0 to fast-track growth, as merchant transactions rise