Business Standard

NPCI

Indians travelling to Qatar will now be able to use UPI for payments

The move will allow UPI payments in Qatar via the QNB merchant network, benefiting Indian travellers visiting and transiting through the country

Indians travelling to Qatar will now be able to use UPI for payments
Updated On : 12 Jul 2024 | 10:08 AM IST

NPCI International partners with Qatar National Bank to launch UPI

In June, NIPL inked an agreement with the central bank of Peru to develop a UPI-like payment system in the South American country

NPCI International partners with Qatar National Bank to launch UPI
Updated On : 11 Jul 2024 | 9:24 PM IST

'We do not worry about (UPI) market share', says Amazon Pay India CEO

When asked if the regulator has been asking them to increase market share, Bansal said the need is to focus on growing the Unified Payments Interface (UPI) ecosystem

'We do not worry about (UPI) market share', says Amazon Pay India CEO
Updated On : 09 Jul 2024 | 10:35 PM IST

RBI permits automatic replenishment of UPI Lite wallet: Check details

UPI Lite users can make payments of up to Rs 500 without a PIN

RBI permits automatic replenishment of UPI Lite wallet: Check details
Updated On : 07 Jun 2024 | 4:57 PM IST

Peru to adopt UPI technology, first South American country to do so

India's NIPL inks pact with Peru's central bank to develop the technology

Peru to adopt UPI technology, first South American country to do so
Updated On : 05 Jun 2024 | 4:44 PM IST

China may impose similar regulations for WeChat as India's UPI rules

Google Pay, PhonePe, and Paytm controls over 90 per cent of UPI transaction volume and value in India

China may impose similar regulations for WeChat as India's UPI rules
Updated On : 05 Jun 2024 | 3:08 PM IST

UPI transaction limits: Factors influencing maximum transfer amounts

For new UPI users, the daily transaction limit is Rs 5,000 for the first 24 hours

UPI transaction limits: Factors influencing maximum transfer amounts
Updated On : 28 May 2024 | 12:07 PM IST

PhonePe collaborates with LankaPay to promote UPI payments in Sri Lanka

Apart from the National Payments Corporation of India's (NPCI) UPI, these transactions will be facilitated by the LankaPay National Payment Network

PhonePe collaborates with LankaPay to promote UPI payments in Sri Lanka
Updated On : 15 May 2024 | 9:38 PM IST

PhonePe partners LankaPay, enables UPI payments for travelers in Sri Lanka

PhonePe on Wednesday announced a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. At an event to mark the collaboration, PhonePe said its app users travelling to Sri Lanka can make payments using UPI across LankaPay QR merchants. The transactions will be facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network. Users can scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. The amount will be debited in INR, showing the currency exchange rate. PhonePe's CEO, International Payments, Ritesh Pai, said the collaboration with LankaPay offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while travelling and paying across LankaQR merchant points. "We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and

PhonePe partners LankaPay, enables UPI payments for travelers in Sri Lanka
Updated On : 15 May 2024 | 7:56 PM IST

NPCI to delay payments market cap by two years, helping PhonePe, Google Pay

NPCI, which has a regulatory mandate from the central bank, announced the 30% cap in 2020 but later extended the deadline by two years to the end of 2024

NPCI to delay payments market cap by two years, helping PhonePe, Google Pay
Updated On : 09 May 2024 | 11:16 PM IST

NPCI may defer market cap deadline for UPI payment platforms by 2 years

Eight months left for the implementation deadline, the National Payments Corporation of India (NCPI) may be favouring growth over concerns about market domination

NPCI may defer market cap deadline for UPI payment platforms by 2 years
Updated On : 09 May 2024 | 5:40 PM IST

RBI governor discusses ways to scale up UPI ecosystem with stakeholders

The meeting was attended by banks, the National Payments Corporation of India (NPCI), third-party application providers, and technology service providers

RBI governor discusses ways to scale up UPI ecosystem with stakeholders
Updated On : 08 May 2024 | 11:34 PM IST

RBI meets stakeholders to discuss strategies to widen scope, reach of UPI

UPI transaction volumes rose 54% in March, as compared to 60% a year ago

RBI meets stakeholders to discuss strategies to widen scope, reach of UPI
Updated On : 08 May 2024 | 6:42 PM IST

NPCI likely to extend UPI market cap deadline for payment platforms

Paytm's UPI market share plummets; Google Pay and PhonePe continue to dominate digital payments in India

NPCI likely to extend UPI market cap deadline for payment platforms
Updated On : 08 May 2024 | 1:12 PM IST

BHIM to challenge Google Pay, PhonePe e-commerce dominance through ONDC

BHIM will expand its presence in e-commerce by offering a diverse range of products and services, including food and beverages, groceries, fashion, and apparel to its user base

BHIM to challenge Google Pay, PhonePe e-commerce dominance through ONDC
Updated On : 04 May 2024 | 1:06 PM IST

NPCI, Bank of Namibia ink an agreement to develop UPI-like system

The development follows NPCI's push to take UPI rails international after breaking into other markets such as France, Sri Lanka, Singapore, and Mauritius

NPCI, Bank of Namibia ink an agreement to develop UPI-like system
Updated On : 02 May 2024 | 10:05 PM IST

NPCI inks pact with Bank of Namibia for developing UPI-like payment system

NPCI on Thursday said its overseas arm has signed a pact with the Bank of Namibia (BoN) for developing a UPI-like instant payment system for Namibia. By leveraging technology and experiences from India's UPI, the partnership seeks to help Namibia modernize its financial ecosystem. This includes improving accessibility, affordability and connectivity with both domestic and international payment networks, and interoperability. NPCI International Payments Limited (NIPL) has signed an agreement with the Bank of Namibia (BoN) to support them in developing an instant payment system like Unified Payment Interface (UPI) for Namibia, a statement said. This strategic partnership aims to enhance digital financial services and bolster real-time Person-to-Person (P2P) and Merchant payment transactions (P2M) in the African nation. Through this collaboration, BoN will gain access to best-in-class technology and insights from NIPL, enabling the creation of a similar platform in Namibia for the ...

NPCI inks pact with Bank of Namibia for developing UPI-like payment system
Updated On : 02 May 2024 | 1:42 PM IST

Know more about interchange fee as NPCI considers policy change for UPI

Currently, there is no defined interchange fee for credit lines on UPI by NPCI

Know more about interchange fee as NPCI considers policy change for UPI
Updated On : 30 Apr 2024 | 4:04 PM IST

UPI credit line: NPCI may go easy on interchange fee for transactions

At present, there is no interchange fee defined by the NPCI for the credit line on Unified Payments Interface (UPI) service

UPI credit line: NPCI may go easy on interchange fee for transactions
Updated On : 29 Apr 2024 | 10:06 PM IST

Industry keenly awaiting implementation of 30% UPI market share cap by NPCI

With extended deadline for 30 per cent UPI market ceiling by NPCI approaching, industry players are keenly awaiting the implementation and measures to achieve the cap from January 1. The National Payments Corporation of India (NPCI) in December 2022 extended the deadline for third-party UPI players to meet its 30 per cent volume cap in digital payment transactions by two years to end December 2024. Presently, third-party app providers (TPAP) like Google Pay and Walmart's PhonePe have a majority 85 per cent share in UPI-based transactions. NPCI runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants' end while making purchases. According to sources, NPCI would spell out ways to implement the 30 per cent UPI market ceiling in a bid to minimise concentration risk. One option would be to stop on-boarding of new customers for those who have higher than 30 per cent market shares in UPI transaction, sources said, adding it can be done in a phase

Industry keenly awaiting implementation of 30% UPI market share cap by NPCI
Updated On : 21 Apr 2024 | 12:10 PM IST