Page 6 - Digital Payments

NPCI allows Paytm to start migration of users to PSP bank handles

UPI users with the @Paytm UPI handle can now create new virtual payment addresses or VPAs with partner PSP banks

Mobile wallet payments in India to surpass Rs 531 trn in 2028: GlobalData

The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion in 2023

NPCI discusses means to grow UPI ahead december market cap deadline

NPCI owns and operates the Unified Payments Interface (UPI) platform

63% women aspire to be entrepreneurs, seek financial independence: Study

The fourth edition of the PayNearby Women Financial Index finds more women are seeking financial independence, adopting digital payments, and seeking better financial planning

Digital payments: 'A shift in focus crucial to drive next phase of growth'

A policy document, which was published by the UN before the G20 Summit, mentions India has achieved around 80 per cent of financial inclusion in the last six years

UPI payments launched in Sri Lanka, Mauritius to boost economic ties

India's Unified Payment Interface (UPI) services were on Monday rolled out in Sri Lanka and Mauritius during a virtual ceremony attended by Prime Minister Narendra Modi and the top leadership of the two island nations. Mauritian PM Pravind Jugnauth and Sri Lanka's President Ranil Wickremesinghe joined Modi at the virtual ceremony. The launch of the Indian services in Sri Lanka and Mauritius came amid New Delhi's increasing bilateral economic ties with the two countries. The launch enables the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India.

Fintech major Paytm set for small win as govt close to approving investment

The RBI in 2022 held back Paytm Payments Services' application to become a so-called payments aggregator - an entity which makes it easier for online retailers and merchants to accept digital payments

Monetary policy: New rules for verification of digital payments on cards

Measures to address frauds in the financial system

NPCI working on Digital Payments Score to scale up credit economy in India

DPS may look at a person's finances such as timely payments and periodic bill payments

RBI's digital payments index jumps to 418.77 in Sept from 395.57 in Mar

RBI's Digital Payments Index comprises five broad parameters that measure the penetration of digital payments in the country over different time periods

PB Fintech Q3 results: PAT at Rs 38.05 cr, revenue from ops rises 43%

Revenue from operations rose nearly 43 per cent to Rs 871 crore rupees as proceeds from its insurance broker services more-than-doubled

Google Pay signs pact with NPCI to expand UPI payments outside India

Google India Digital Services and NPCI International Payments Ltd (NIPL) have signed an agreement that will help expand UPI payments to countries outside India. The memorandum of understanding (MoU) will enable Indian travellers to make payments in other countries via Google Pay (also known as GPay), eliminating the need to carry cash or resort to international payment gateways. "The MoU has three key objectives. First, it seeks to broaden the use of UPI payments for travellers outside of India, enabling them to conveniently make transactions abroad. Second, the MoU intends to assist in establishing UPI-like digital payment systems in other countries, providing a model for seamless financial transactions. Lastly, it focuses on easing the process of remittances between countries by utilizing the UPI infrastructure, thereby simplifying cross-border financial exchanges," Google Pay said in a statement. The deal focuses on easing the process of remittances between countries by utilising

Large merchants may have to pay reasonable fee on UPI payments: NPCI chief

Asbe said investments will be key to rope in another set of users under the digital payments mode while emphasising that the country has an opportunity to grow ten times in the digital payments space

RBI extends Payments Infrastructure Development Fund scheme till 2025

Apart from physical and digital devices, Soundbox devices and Aadhaar-enabled biometric devices have been made eligible for subsidy under the PIDF scheme

RBI tweaks D-SIB designation methodology, inserts digital payments aspect

The value of securities reported under 'Total Marketable Securities issued by bank' would be based on their market value

9.12 bn merchant transactions made via Paytm in second quarter of FY24

As many as 912 crore merchant transactions were made using Paytm in Q2FY24, parent One97 Communications said on Wednesday. Notably, the maximum number of payments have been done on Saturdays, making it the busiest day in the week for digital transactions, the company said releasing Paytm's 2023 Recap. When it comes to making most payments from midnight to 6 AM, Delhi emerged as Paytm's night owl, outshining cities like Hyderabad, Bengaluru, Chennai, and Goa, the release said. "A whopping 912 crore merchant payments were made using Paytm in Q2FY24," according to the release by One97 Communications Ltd (OCL) that owns the brand Paytm. Releasing Paytm's 2023 Recap, it said if all the Paytm QR codes used this year were stacked up, it would be taller than 40 Qutub Minars. Paytm said it continues to strengthen its leadership in in-store payments, with more than 92 lakh Paytm pioneered devices such as Soundbox, Card Machines, amongst others in the quarter ending September 2023.

ToneTag launches CUSP for digital payments, contactless tokenised cards

It supports secure offline data transfer to enable contactless payments, and voice computing for voice payment experience, among other features

UPI transactions surge 118% in semi-urban & rural stores, shows report

Aadhaar Enabled Payments System (AePS) withdrawals increased 30 to 40 per cent during direct benefit transfer (DBT) releases

Looking forward to ride credit on UPI wave: Amazon Pay India's Jain

Company aiming to redefine access and coverage in financial landscape by early 2024

RBI allows REs to use HDFC Bank-Crunchfish AB's offline payments product

HDFC Bank had stated that it would roll out this service as part of a limited pilot for four months in over 16 cities and towns across India