Page 3 - Digital Payments

Centre to allow digital payments via biometric authentication from today

Authentications will be done using biometric data stored under the Government of India's unique identification system - Aadhar

NPCI to roll out biometric authentication for digital payments from Oct 8

The move follows recent guidelines from the Reserve Bank of India permitting alternative methods of authentication and will mark a departure from the current system

UPI races ahead, accounts for 84% of total digital payments in FY25

The UPI digital payment system has been fast replacing cash as a preferred mode of payment, and has now taken the lead in overall digital payments

New RBI rules make banks fully liable if payment safeguards fail: Details

RBI on Digital Transactions Fail: Banks will be responsible for compensating customers if fraud occurs due to them not following authentication process

India boosts ties with SICA nations; focus on trade, digital payments: EAM

Over the past decade, India's relations with SICA countries have seen a marked improvement, and Jaishankar acknowledged this growing cooperation

RBI mandates stronger two-factor authentication in new guidelines

RBI has mandated two-factor authentication for all digital payments from April 2026, with guidelines allowing biometrics, tokenisation and risk-based checks alongside OTPs

Digital payments jump to ₹11 trillion on first day of new GST rates

Digital payments surged to ₹11 trillion on the first day of new GST rates, with RTGS, UPI, NEFT, IMPS, debit and credit card transactions all seeing sharp increases

UPI's new high value transaction limits kick in: Here's what changes

Starting September 16, UPI is no longer just for small daily payments. With raised limits for insurance, investments, and even jewellery purchases.

RBI grants PhonePe final approval to operate as payment aggregator

Fintech major PhonePe has secured the Reserve Bank of India's final approval to act as an online payment aggregator, expanding its reach to enterprises and merchants nationwide

Fintech firm MobiKwik freezes 2,000 merchant accounts after ₹40 cr loss

MobiKwik froze 2,000 merchant accounts after a technical error caused unauthorised settlements worth Rs 40 crore, with Rs 14 crore recovered and FIRs filed in Haryana

Cabinet clears restructuring, extension of PM SVANidhi scheme till 2030

The Union Cabinet on Wednesday approved the restructuring and extension of the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme till March 31, 2030, with a total outlay of Rs 7,332 crore. The decision was taken at a meeting chaired by Prime Minister Narendra Modi, an official statement said. It said the first tranche loan limit has been raised from Rs 10,000 to Rs 15,000 and the second from Rs 20,000 to Rs 25,000, while the third tranche remains at Rs 50,000. Street vendors repaying their second loan on time will be eligible for a UPI-linked RuPay credit card to meet emergent business and personal needs, it said, adding that incentives of up to Rs 1,600 will also be offered to vendors opting for digital payments on retail and wholesale transactions. The restructured scheme, which was earlier valid till December 31, 2024, aims to benefit 1.15 crore beneficiaries, including 50 lakh new street vendors. According to the statement, the implementation of the scheme

We don't get a penny for UPI infra: Axis Bank MD & CEO Amitabh Chaudhry

Axis Bank MD Amitabh Chaudhry said banks earn nothing from UPI transactions despite bearing the infrastructure costs, as subsidies and incentives shrink further

Banks fund India's digital payments while fintechs reap the revenue

UPI cost burden reaches Rs 8,500 crore annually as third-party apps dominate customer engagement

Paytm gets RBI nod for payment aggregator licence; what's the road ahead? | Paytm stock

The Reserve Bank of India has granted in-principle approval to Paytm Payments Services to operate as an online payment aggregator, ending a nearly three-year regulatory freeze.

China's Ant Group plans exit from Paytm with ₹3,800 cr share sale: Report

China's Ant Group to fully exit Paytm with ₹3,800 cr stake sale at ₹1,020 per share, following earlier exits by SoftBank and Berkshire Hathaway

ICICI Bank to charge payment aggregators for UPI transactions from August 1

Private lender to charge up to Rs 10 per transaction on PAs; move follows rising infra costs and lack of MDR revenues in fast-growing UPI ecosystem

RBI's digital payments index increases to 493.22 as of March 2025

Index up from 465.33 in September 2024, reflecting rapid digital adoption and stronger payment infrastructure and performance across India

NPCI adds 13 Indian banks to India-Singapore UPI-PayNow platform

NPCI International has added 13 more Indian banks to the India-Singapore UPI-PayNow platform, expanding the remittance network to 19 banks and enabling faster, secure cross-border fund transfers

Explicit consent: Online's new era may shift power from apps to users

For years, the tech industry has operated on a model of "implied consent"

Zomato and Tata Digital Unveil Cashback and Rewards for NeuCard Holders

The partnership between Zomato and Tata Digital offers cashback and loyalty rewards to customers using the Tata Neu HDFC Bank credit card for food orders on the platform