Page 31 - Digital Payments

Govt offices in Odisha to switch to digital payments

Government offices in Odisha are preparing for a shift to digital payments. The state government has kicked off the process for procurement and installation of Point of Sale (PoS) devices like mobile PoS and Aadhaar based payments. Apart from government offices, state controlled PSUs and societies would also be enabled for receiving digital payments. The switch to the digital payment mode is expected to be fully ready by the end of this financial year.Tuhin K Pandey, principal secretary (finance), Odisha has urged all government departments and district collectors to issue necessary instructions to agencies under their control to install PoS devices for facilitating digital payments. The finance department has formulated a set of guidelines to enable government departments for installation of PoS devices.The heads of the state government agencies are required to assess the requirement of PoS devices in their counters and make an indent with any of the two banks authorized to handle ..

Central Bank of India customer wins Rs 1 cr under Modi's cashless scheme

6 winners under the two promotion schemes were given their prizes by President Pranab Mukherjee

Digital payments: Central Bank of India customer wins Rs 1 cr

President congratulated the six winners of Lucky Grahak Yojana and Digi Dhan Vyapar Yojana

Ambiguity persists on petro digital payment discounts

The three government-owned oil marketing companies (OMC)s were unclear on what was to happen after the Friday midnight deadline for the discounts they were offering on digital payments at retail motor fuel stations."We are yet to receive a communication from the (petroleum) ministry (on this). We cannot decide without a directive," said a top marketing official from of the three. To promote digital payments after last November's currency demonetisation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Indian Oil Corporation were directed to offer 0.75 per cent discounts as cash-back for such payments at fuel pumps. These were to be offered till end-March.However, they've also have informed pump dealers that they will not be debited by banks for these discounts beyond Friday. "The OMCs sent a letter to dealers three to four days before that this would not happen, as banks are now able to directly deal with the OMC. The required software is being put in place," said ...

Govt partners with Google to boost security in digital payments

The Ministry of Electronics and Information Technology (MeitY) and Google India have come together to boost the security of India's fast growing digital payments ecosystem at a time when data breaches and fraudulent transactions are becoming more commonplace in the country.The partnership will support the formation of a 'Digital Payments Security Alliance' in collaboration with the Data Security Council of India (DSCI) that will include stakeholders such as banks, FinTech companies and the government. It will look to create awareness of the best security practices for mobile and digital payments in the country."We are delighted to support Honourable PM Modi's vision of creating a 'New india' where technology unleashes a wave of new opportunities. We are committed to and look forward to working with MEITY across these broad range of initiatives and help every Indian to leverage the power of the Internet," said Rajan Anandan, Vice President of Southeast Asia and India at Google.The ...

BharatQR, UPI, BHIM, NUUP: How these digital payment apps, services work

The growth of digital payment services is fueled by introduction of apps and services by the NPCI

Understanding QR code payments: Here's the lowdown on Bharat QR

There is a huge disconnect in India when it comes to digital payments

Over 7 lakh citizens receive Rs 117 cr for making digital payment

Majority of the winners are in the age group of 21-30 years

IT ministry framing guidelines for digital payments

At present, there are no specific guidelines on digital payments to ensure fair play in the segment

Dealing with digital black holes

Electronic transactions are rising fast, so are cases of payment failure and delayed settlement

Digital payments: Govt to announce awards from today

Event would be followed in 100 different cities across India over the next 100 days until March

SBI chooses Ganapati makers' village for hi-tech payments pilot

The plan is to make 100 villages rely less on cash before the system is introduced in urban and metropolitan areas,

Assam govt to offer 0.75% more rebate on digital purchase of fuel

The benefit will be notified by Oil PSU firms in coming days & it will be with effect from January 1, says Himanta Biswa Sarma

Digital payment start-ups unaware of high security risks: FireEye

This is a dangerous trend when the country still lacks proper infrastructure and legislation to fight against cyber criminals

Insurance, fuel, rail tickets: How to benefit from Modi's cashless drive

All payments made via debit and credit cards, net banking and mobile wallets will be entitled to discounts

Digital payments push: Single UPI platform in offing for banks

A single UPI platform is being developed for all banks as against the existing system of individual platform

India's fintech sector sees five quarter low in VC investments

While investments in the space fell to $127 million in the 3rd quarter, down from $157 million in the previous quarter

Expect your household budget to shoot up: Going cashless comes at a cost

When you start using digital payment options, your household budget is likely to shoot up

Cash-short payment options grow

Online marketplaces and mobile wallets finding more ways to cash on currency ban windfall

Digital payments push can boost India's GDP by 6%: McKinsey

Emerging economies have a negligible penetration of digital payments - less than 1 per cent of total transactions