Page 10 - Npci

NPCI International signs agreement with Al Etihad Payments of UAE

NPCI International Payments Ltd, the international arm of the National Payment Corporation of India, on Thursday inked an agreement with Al Etihad Payments of UAE to provide real-time and cost-effective cross-border remittances for the users of both countries. It would be as seamless as a domestic transaction, using a beneficiary identifier (mobile number VPA), according to the agreement. Tangible benefits of the agreement include the availability of real-time and cost-effective cross-border remittances for the users of both countries. This would also enhance the transparency for users through an upfront display of remittance amounts in both currencies with applicable charges. The linkage of card switches would enable the cardholders to use their domestic cards (without the need to have global cards issued) in each other's jurisdiction on a reciprocal basis on ATMs, PoS terminals and e-comm transactions. Further, the linkage of messaging platforms would reduce dependency on ...

NPCI International to sign pact with Al Etihad Payments of UAE on Oct 5

NPCI International Payments Ltd, the international arm of the National Payment Corporation of India, will ink an agreement with Al Etihad Payments on Thursday in Abu Dhabi to facilitate cross-border transactions, an official said. The MoU (Memorandum of Understanding) will be signed on development of domestic card scheme of UAE based on India's RuPay debit and credit card stack, the official added. The agreement will be signed in the presence of Commerce and Industry Minister Piyush Goyal, who is leading a business delegation to Abu Dhabi from October 5 to October 6. Goyal will co-chair the eleventh meeting of India-UAE High-Level Task Force on Investments along with Sheikh Hamed Bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority. The meeting will be attended by Mohamed Hassan Alsuwaidi, Minister of Investment, MD and CEO of ADQ; Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Khaled Mohamed Balama, Governor of the Central Bank of the UAE; and

UPI-based ATMs will not replace conventional ATMs; both will co-exist

An ATM solely dedicated to UPI-based cash withdrawals simplifies the machine's hardware components

P2M transactions to make 75% of all UPI transactions by 2025: Report

The average ticket size of UPI in the first six months of 2023 was 10% lower than the same period last year showing its growing penetration and increasing adoption of small payments

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

Thomas Cook, NPCI launch RuPay prepaid forex card for travellers to UAE

The Reserve Bank of India had in June allowed the banks to issue Rupay forex cards

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

NPCI launches voice-enabled transactions feature on UPI payments platform

The NPCI on Wednesday launched a slew of new payment options on popular payments platform UPI, including conversational transactions. Reserve Bank of India (RBI) Governor Shaktikanta Das announced the launch of the products by the National Payments Corporation of India (NPCI) at the ongoing Global Fintech Festival here. One of the products is Hello! UPI that will enable users to make voice-enabled UPI payments via apps, telecom calls, and IoT devices in Hindi and English. It will soon be available in several other regional languages also. NPCI said the credit line on UPI facility will enable customers access pre-sanctioned credit from banks via UPI. Separately, users will be able to send and receive money offline using the other product, LITE X product. Further, the UPI Tap & Pay facility, in addition to the conventional scan-and-pay method, will allow customers to simply tap Near Field Communication- (NFC-) enabled QR codes at merchant locations to complete their payments. The .

NPCI a crown jewel of India's technology sector, says Nandan Nilekani

NPCI launches converstional UPI 'Hello UPI' for smartphone and feature phone

UPI transactions may soon touch 100 billion a month, says NPCI CEO

UPI's 10 billion-per-month transaction volume places it among the fastest-growing payment processing systems in the world

Hitachi Payment Services launches India's first-ever UPI-ATM with NPCI

The Hitachi Money Spot UPI ATM is built on Android OS and will allow cardless cash withdrawals

India has potential to do 100 billion UPI transactions a month: NPCI CEO

India has the potential to do 100 billion Unified Payments Interface (UPI) transactions a month, a top official from the National Payments Corporation of India said on Tuesday. This would be a 10-time growth over the 10 billion transactions achieved by the 2016-launched platform in August. Dilip Asbe, chief executive officer and managing director of NPCI, said there are 350 million UPI users at present and pegged the growth opportunity in merchants and users at 3 times more. "...if you take the combined effect, we have a 10x opportunity from where we stand," Asbe said speaking at the Global Fintech Fest here. He declined to specify a date by which NPCI aims to reach there, but said that by 2030, India will witness 2 billion transactions a day. At present, global giant Visa processes 22.5 billion transactions a month, while its rival MasterCard does over 11 billion transactions. Asbe also said that credit card usage can witness a ten-time growth if the industry shifts to the emerg

Financial frauds in India rose 65% between 2021 and 2022: Finance Ministry

National Payment Corporation of India informed the Parliamentary Committee that, on average 2,000 customers are impacted by cyber frauds in India every month

RuPay cards cross 10,000 milestone in Bhutan, 265,994 ATMs accept the cards

RuPay cards crossed the 10,000 mark in Bhutan. BHNL RuPay debit cards are widely accepted in more than 265,994 ATMs and 7.9 million PoS terminals to withdraw cash, balance inquiries and make payment

Another bite: Apple in talks with NPCI to launch Apple Pay in India

Apple India spokesperson in a statement said that they do not have comment on Apple Pay nor about interactions with NPCI

Google Pay allows UPI payments using RuPay credit cards; check details here

This feature is now available to RuPay credit card holders of Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, and Union Bank of India

JCB partners with NPCI to offer 40% cashback for RuPay JCB cardholders

All RuPay JCB Debit & Credit Cardholders will be offered 40% cashback on in-store purchases in the UAE, Thailand, Malaysia and Spain

70% of MSMEs believe more than 50% of customers will pay using UPI

A report by NeoGrowth looks at the data from around 3,000 retail customers and 1,000 retail sellers across the country

Zomato begins its own UPI offering, Flipkart expected to follow soon

The report citing sources added that e-commerce platform Flipkart is also hopping on the bandwagon and has started its work for UPI offerings

NPCI plans more tie-ups to boost global acceptability of RuPay debit cards

National Payments Corporation of India (NPCI) is exploring options for further tie-ups to strengthen the global acceptability of RuPay debit cards. Currently, RuPay cards are accepted at the points of sale (PoS) machine powered by Discover of the US, Diners Club, JCB of Japan, Pulse and Union Pay of China. This needs to be strengthened, and NPCI is working in this direction so that users of RuPay cards are at par with those using Visa or Mastercard, sources said. In March 2012, RuPay went global by tying up with Discover Financial Services to bring international services to Indians. It has strengthened its network capabilities by launching RuPay JCB Global Card in association with JCB International Co Ltd in July 2019. The RuPay JCB Global card can be used at RuPay card accepting points in India and JCB card accepting points outside India for PoS, E-Commerce and ATM. RuPay, a product of NPCI, is the domestic card payment network of India, with wide acceptance at ATMs, POS devices