Npci

Festival season brings UPI boom, transactions hit record Rs 27 trn in Oct

Volume was up by 5 per cent and value by 10 per cent in October versus September this year

NPCI says teething issues persist in same-day cheque clearing system

NPCI says minor issues remain in the T+0 cheque clearing process introduced on October 4, assuring customers that all cheques are being cleared the same day

NTT Data partners with NPCI to enable UPI payments for Indians in Japan

The partnership marks UPI's first entry into an East Asian market and aims to make digital transactions easier for Indian tourists while boosting Japan's cashless economy

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

Muse, NPCI join hands for India's first wearables payment ecosystem

The new ecosystem allows users to make instant, secure payments by tapping Muses' smart ring on any NFC-enabled PoS terminal

Explained: How digital payments are fuelling India's economic growth

Govt plans to introduce biometric authentication for UPI payments, but what exactly is a digital payment system and why is it important for the Indian economy?

OpenAI partners with NPCI to bring UPI payments to ChatGPT: How it works

Razorpay, NPCI, and OpenAI collaborate to pilot AI-powered UPI payments in ChatGPT, offering an automated shopping experience

Razorpay, NPCI, OpenAI team up to launch agentic payments on ChatGPT

Currently in the pilot stage, this feature allows users to shop and pay within a single chat interface

RBI links Bharat Connect, FX-Retail to facilitate dollar transactions

The integration will allow bank customers to digitally buy US dollars for remittances, forex cards, or currency notes at competitive rates

NPCI launches new tech subsidiary to boost payments innovation in India

NPCI Tech Solutions will focus on fintech experimentation and breakthrough innovations, expanding NPCI's role in global digital payments and cross-border connectivity

NPCI to roll out biometric authentication for digital payments from Oct 8

The move follows recent guidelines from the Reserve Bank of India permitting alternative methods of authentication and will mark a departure from the current system

NPCI proposes UPI-based cash withdrawals with ₹10,000 cap at BC outlets

NPCI has sought RBI approval to enable UPI-based cash withdrawals of up to ₹10,000 at business correspondent outlets, expanding beyond ATMs and select merchants

UPI autopay revocations hit 20 mn per month on low customer balance

UPI AutoPay enables users to generate a recurring e-mandate using any UPI payments application. It allows users to set timely mandates to pay using UPI on a periodic basis

We don't get a penny for UPI infra: Axis Bank MD & CEO Amitabh Chaudhry

Axis Bank MD Amitabh Chaudhry said banks earn nothing from UPI transactions despite bearing the infrastructure costs, as subsidies and incentives shrink further

PhonePe tops UPI in July with 8.93 bn transactions, 46% market share

PhonePe processed 8.93 bn UPI transactions in July, ahead of Google Pay's 6.92 bn, as total UPI volume hit a record 19.46 bn worth ₹25.08 tn, NPCI data shows

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.

UPI payments through biometrics likely soon; PIN may become optional

The National Payments Corporation of India (NPCI) is preparing to roll out this update to UPI, which is expected to enhance security and convenience

PayPal partners with NPCI, others to launch cross-border payments platform

PayPal's new global platform will enable UPI-based cross-border payments, backed by partners like Mercado Pago, Tenpay Global and Venmo, with rollout set for later this year

NPCI adds 13 Indian banks to India-Singapore UPI-PayNow platform

NPCI International has added 13 more Indian banks to the India-Singapore UPI-PayNow platform, expanding the remittance network to 19 banks and enabling faster, secure cross-border fund transfers

UPI-PayNow: Step-by-step guide to instant India-Singapore remittances

NPCI expands UPI-PayNow linkage, making India-Singapore money transfers faster, cheaper and seamless for users. Here's how to use the service step by step.