Page 30 - Digital Payments

Spurring digital payments in India

We need to understand that payments is a commercial activity and hence cannot be treated on par with banking. What is needed is an integrated payments institution to encourage competition

Digital payments: Sebi bars stock brokers from accepting cash from clients

Financial institutions and banks have introduced various modes of electronic payment facility

Govt slashes UPI cashback scheme limit to total of Rs 150 per person

The government has already spent Rs 1 billion in the last three months of the scheme in giving these cashbacks

Payment companies starved of govt subsidy on digital payments

In December 2017, the government issued a gazette notification agreeing to waive off fee from digital transactions up to Rs 2,000

Digital payments: RBI's paper may push for participation of smaller players

The top 10 banks handle 90% of the digital market

Payments Landscape in India: Data-rich players turn digital lenders

Increasing use of digital payments has led to critical data points for financial institutions to leverage it for credit scoring

PM to award bureaucrats for promoting key govt schemes, digital payments

Prime Minister Narendra Modi would award select bureaucrats from across the country for promoting central government's key programmes, including promotion of digital payments, on the occasion of civil services day in April, according to an official statement issued today. A total of 2,010 applications have been received from various officers for Prime Minister's awards for excellence in public administration, it said. The civil services day is celebrated on April 21, every year, where bureaucrats rededicate themselves to public service and awards for excellence in public administration are also conferred. This is preceded by one day event on April 20 where discussions are held on relevant topics of public administration and it is attended by large cross section of civil servants. Four priority programmes -- Pradhan Mantri Fasal Bima Yojana, Promoting Digital Payments, Pradhan Mantri Awas Yojana - Urban & Rural, and Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDUGKY) -- have ...

Global firms to push domestic digital payments to $1 trn over next 5 years

India has already started showing early signs in voracious consumption of data

Digital transactions likely to zoom 18 bn in FY18, says K J Alphons

The scale and value of digital transactions underscored how these new forms of payment had reached the masses, Alphons said

Finding solutions to digital payment problems

In case of incorrect transactions, banks and mobile wallets give some assistance. Things get tougher when there is a payment failure

Digital payment fast replacing cash as predominant way: Jaitley

He said that technology has changed the entire dynamics the way the banking is done in the country

Modi govt's card payment push may cause annual loss of Rs 3,800 cr to banks

After note ban, govt pushed banks into deploying millions of points-of-sale machines to encourage online payments

Post-demonetisation digital payments up, debit card use declines: Report

NEFT volumes have grown upwards of 30% with a further around 10% improvement in per-transaction size

Pay via debit card: Govt wants RBI to cap MDR on digital payments at Rs 200

Has your grocer asked you to pay extra because you wanted to pay using a card?

Digital payments bound to pick up with new technology like Tez: Jaitley

He said high denomination currency circulation has come down in terms of volume after demonetisation

You can pay power bills through BharatQR in Andhra: How it works

BS ReporterHyderabad, 22 August:The two state-owned power distribution companies in Andhra Pradesh have started accepting payments through BharatQR, the first interoperable quick response code acceptance solution launched by the Reserve Bank of India(RBI). Bharat QR is a secure, network-agnostic interface that enables customers to use their smartphones to make payments without divulging information like card numbers and CVV.Global payment technology company Visa and Andhra Pradesh government collaborated to enable this digital payment initiative for the customers of the Eastern Power Distribution Company of AP Limited(EPDCL) and the Southern Power Distribution Company of AP Limited(SPDCL).Stating that the move was aimed at making Vizag city as the first less-cash city in the country, AP IT minister Nara Lokesh informed that the government was exploring the possibility of abolishing surcharge levied on digital payments." Digitisation of transactions will ultimately lead to a reduction .

IIT professors apprise par panel of cyber threats on digital payments

The IIT faculty made presentation on cyber risks associated with digital payments

Govt to soon release digital payment fee policy: Niti Aayog official

Govt will release a policy on the fee being charged for different modes of digital payments

Life insurance companies see high growth in non-cash premium payment

People in rural areas, small towns are swtiching to cashless modes of payment, says industry

Note ban fuels digital payments

Much to the surprise of critics, sectors such as petroleum saw twofold jump in digital transactions