Page 7 - Digital Payments

Razorpay's POS business clocks 60% growth after Ezetap acquisition

Ezetap was Razorpay's sixth acquisition

Credgenics launches debt recovery platform for asset reconstruction firms

Service will help debt recovery by providing information about each stage of delinquent cases

GSPay by Gupshup sees 70% M-o-M growth in UPI123 Pay transactions

The company said the average ticket size of these payments stood above Rs 650, whereas transactions up to Rs 100 constituted 56 per cent of the total payments

Not for everyday transactions, but cash still store of value: RBI report

Currency in circulation up despite rise of digital transactions

RBI in discussions with US, Hong Kong, Swift on digital bank payments

Current practices involve routing funds through banks using the Swift platform. CBDCs could enable direct settlements between parties, offering advantages such as speed and cost-efficiency

FinMin calls meeting of bankers to deal with digital payment fraud

The Finance Ministry has called a meeting of senior bankers and RBI representatives on Tuesday to discuss steps to deal with increasing digital payment fraud and cyber security issue. The meeting to be chaired by Financial Services Secretary will discuss issues related to financial cyber security and increasing digital payment fraud, sources said. During the meeting Indian Cyber Crime Co-ordination Centre will make a presentation on the latest statistics of digital payment frauds as reported in National Cyber Crime Reporting Portal (NCRP), including challenges and issues faced in countering such issues. The meeting is expected to be attended by senior official of Department of Economic Affairs, Department of Revenue, Department of Telecom, Ministry of Electronics and Information Technology (MeitY), Telecom Regulatory Authority of India and National Payments Corporation of India. The meeting assumes significance in view of digital fraud witnessed by UCO Bank and Bank of Baroda in th

RBI and NPCI look for offline methods to boost digital payment adoption

RBI has established a sandbox allowing startups to experiment with various central bank-backed digital currency (CBDC) use cases

7 years of demonetisation: Change in use of cash in Indian economy

It's been seven years since the Centre announced demonetisation. A lot has happened since then. Digital India has risen, and customers' way of spending has changed. But is cash still the king?

Ahead of Diwali, PM Modi pushes for 'vocal for local', digital payments

As India gears up to celebrate Diwali, Prime Minister Narendra Modi on Monday shared a video promoting the use of local products and asserted that the "vocal for local" movement is gaining momentum across the country. In the video shared on his X handle, the prime minister called on people to ensure that their priority during festivals is "vocal for local". "Let us together fulfil our dream of Atmanirbhar Bharat," Modi said. He urged people to try to insist on using the UPI digital payment system to make payments. He also asked them to share selfies with local products or artisans on his NaMo App through a made-in-India smartphone. Modi said he will share some of these pictures on social media to inspire others to be vocal for local, he said. "The vocal for local movement is getting great momentum across the country," he said.

Mobile ownership among women remains low, says DLAI CEO Jatinder Handoo

At the BS BFSI Insight Summit 2023, top digital payment experts discuss the next leg of growth of digital payments and the issues it is facing

BS BFSI Summit: MDR necessary to drive growth in digital payments

Education and awareness among the masses will absorb more users in the fold of digital payments

CCAvenue.ae launches mobile-based QR Code payment solution in the UAE

This is the company's first foray into the offline payment space in the UAE market

PhonePe records revenue of Rs 2,914 crore in FY23, marks 77% jump

The Walmart-owned fintech firm said this growth is led primarily by its focus on market expansion and leadership in the digital payments market.

UPI growth flat in September, but over 10 billion payments processed

According to data from NPCI, this represented a 56 per cent rise in volume and a 41 per cent increase in value compared to September of the previous year. In September 2022

Avg ticket size on UPI dips 10%, rises 22.6% on cards in H12023: Report

The ATS of P2M transactions dipped 21 per cent from Rs 839 in H1 2022 to Rs 659 in H1 2023

Non-cash transactions to touch 2.3 trn in volumes globally by 2027: Report

In value terms, commercial payments account for 56 per cent, while retail make up around 44 per cent of total payments value

IndusInd Bank launches 'virtual commercial card' for cross-border payments

In partnership with Visa and Juspay, the virtual card has additional layers of security that give users complete control over their international expenses, thus making it safe and hassle-free

Cashfree Payments launches one-step UPI payment solution for businesses

The one-step UPI payment solution has been created in partnership with NPCI and Axis Bank, ensuring complete security and compliance

Cashfree Payments partners with NPCI to launch customer on-boarding feature

'AutoPay on QR' end the necessity to download an app or register on a website, says company

Debit card usage slow for three years and UPI transactions up 428%

In August, UPI transactions hit 10 billion for the first time in a month. Monthly UPI payments are clocking more than Rs 15 trillion