Page 8 - Digital Payments

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

Apple gets warning from top US consumer watchdog on Tap To Pay tech

Tap-to-pay transactions have exploded in recent years as mobile devices became ever-present, making paying via a smartphone more and more desirable

NPCI launches voice-enabled UPI payments, other features; Check details

The launch of the new products comes a day after NPCI chief Dilip Asbe said at a fintech event that UPI had the potential to reach a couple of billion transactions a day by 2030

Monetary policy review: Soon, pay up to Rs 500 at a go via UPI Lite

UPI-Lite was launched in September 2022 to reduce transaction failures and optimise processing resources for banks

The Global South quietly revising economic rules written by US, West

The Global South sees a chance to chart its own future. Nirupama Menon Rao, a former Indian foreign secretary, points to her country's spreading of digital payments to developing nations

Cashfree Payments rebrands Zecpe, a one-click checkout platform, as Ecom360

Ecom360 aims to address core problems of D2C businesses by improving checkout and payment processes

Reserve Bank of India's digital payment index rises to 359.57 in March

The RBI-DPI has been constructed with March 2018 as the base period, i.e. DPI score for March 2018 is set at 100

CESC reports collecting 82% of electricity bills through digital payment

CESC Ltd, RP Sanjiv Goenka's flagship company, on Tuesday said it has seen a tremendous increase in digital payments, with 82 per cent of its total revenue from electricity bill collection coming from online mode. The company provides a discount of one per cent for digital payment. "Thanks to a wide variety of user-friendly online payment options, 74.5 per cent of (total 3.5 million) consumers made online payments in 2022-23, which constituted almost 82 per cent of total revenues," its chairman Sanjiv Goenka said in a message to investors. CESC provided over 1,06,101 new connections in 2022-23. West Bengal Power Minister Aroop Biswas had slammed the power during the recent heat waves for a series of power disruptions under its command area. Distribution of electricity, with its own generation facilities, across its licensed area is in Kolkata, Howrah, Hooghly, North and South 24 Parganas districts. With a return to normalcy in 2022-23, your company's system demand grew at 8.7 per

Phonepe launches point-of-sale systems so vendors can accept card payments

Paytm had been providing all-in-one POS machines to check-out counters across the country, which were earlier only available for bank payments

UPI falls marginally in June to Rs 14.7 trn, with 9.33 transactions

Based on data from NPCI, compared to the same month last financial year, transaction volume rose by 59% and value by 45%

Inkle launches new platform for cross-border payments for startups

Customers will be charged a fixed markup of up to 0.50% on the mid-market forex rate on their transactions

RBI releases draft on cyber resilience, digital payment security controls

According to the RBI's release, the central bank has invited feedback from the shareholders on the same

Digital transactions in India highest in world but why is cash still king?

The Reserve Bank of India believes that households in India hold more high-value currency notes at home while substituting lower-value notes with digital transactions