National Payments Corporation Of India

NPCI says same-day cheque clearing stabilised; unions seek RBI help

NPCI says the new t+0 cheque clearing system is stable after early glitches, while bank unions urge RBI to ensure smoother implementation during the festive period

People face UPI payment issues; NPCI attributes glitches to banks

People faced difficulties in making online payments through the popular Unified Payments Interface (UPI) platform on Thursday evening due to "technical" issues. The National Payments Corporation of India (NPCI), which runs the UPI platform, said a few banks' systems faced troubles due to which people faced inconvenience. There were "intermittent UPI connectivity issues as a few of the banks were having some internal technical problems", the NPCI said in a late evening statement. The statement came in response to a slew of complaints on social media platforms about the UPI outage. NPCI stressed that its systems are working fine and it has worked with the lenders for a quick resolution. The UPI platform had witnessed over 18 billion transactions with an underlying value of over Rs 24 lakh crore in June. There is an intense debate over who should pay for the platform. At present, it is subsidised by the government to encourage citizens to pay more using the online method.

Smart devices to be next bastion for UPI with IoT-ready payment system

NPCI builds Internet of Things rails as UPI targets 10x growth

NPCI directs UPI members to follow new API guidelines to avoid disruptions

For instance, this includes restricting a high number of repeat APIs for the same or older transactions

Coming soon: A new system to integrate netbanking, payment aggregators

This new switch being developed by NPCI subsidiary NPCI Bharat BillPay Limited (NBBL) will not leverage any existing payments system tech but will focus on creating a new system altogether

UPI outages: NPCI, banks working on durable solution to plug gaps

The current challenge stems from the extremely high frequency of transaction status API calls

UPI outage due to financial year-end transaction rush at banks, says NPCI

Transactions volumes declined 7 per cent on March 26 after the UPI network had reported an outage

RBI, NPCI approve Rs 2 hike in ATM interchange fee from May 1, 2025

The revised interchange is not applicable for micro-ATM, interoperable cash deposit (card-based and UPI-based), and international ATM transactions

Payments body PCI urges PMO to levy MDR on UPI, RuPay debit cards

If the proposal is accepted, nearly 90 per cent of India's 60 million UPI-accepting merchants will remain unaffected, as they fall under the small enterprise category

16% of card spends happen on RuPay, half of it on credit via UPI: NPCI

RuPay is India's indigenous payment network run on NPCI's infrastructure

NPCI chief advocates for stronger legal systems to deter cyber frauds

The apex payments body head pressed on the need for economic incentivisation for firms processing UPI

UPI transactions surge to record 16.73 bn in Dec; value at Rs 23.25 trn

Interestingly, for the entire 2024, the volume increased by 46 per cent to around 172 billion transactions, compared to 118 billion in 2023

NPCI cautions users against digital frauds, highlights 'common tricks'

The apex payments body has cautioned citizens to identify such scams based on themes such as unexpected calls from alleged government officials

PhonePe aims to replicate UPI success across expanding financial services

At present, the overall user base of PhonePe is over 500 million. Of these, its merchant base is over 40 million

Migrating low-ticket payments to UPI Lite key to easing system pressure

UPI Lite allows low-value transactions without requiring a PIN and are carried out without utilising a remitter bank's core banking systems

Navi climbs UPI leaderboard for second consecutive time, now fifth largest

This growth follows the company's announcement in April that it would roll out cashbacks and rewards for customers using its UPI service

Since the year pandemic hit, average daily UPI transactions up over 8x

In September 2024 alone, UPI processed 15.04 billion transactions, valued at Rs 20.64 trillion

NPCI inks deal to develop digital payments system for Trinidad and Tobago

Earlier in the year, NIPL had agreed to develop digital payments systems for Peru and Namibia, using UPI as a blueprint

NPCI eyes Africa, South America for digital payment push via UPI: CEO

Earlier this year, the NIPL signed deals with the central banks of Peru and Namibia to help them build real-time payment systems similar to UPI

NPCI reports Rs 1,134.31 crore surplus in FY24, up 37% on payment services

NPCI, which operates UPI platform, earned Rs 2,693.42 crore in FY24, up 36 per cent from Rs 1,971.69 crore