Page 14 - Npci

Fintechs see UPI-PayNow linkage as foundation for a global network

On Tuesday, India and Singapore linked their digital payment systems, United Payments Interface (UPI) and PayNow, to enable real-time money transfers

Paytm, PhonePe to launch UPI Lite for smaller epayments soon: Report

UPI Lite was introduced by the National Payment Corporation of India (NPCI) last year to facilitate small ticket transactions up to Rs 200

BHIM dilemma: Transaction value high, but volumes way lower than rivals

From accounting for a quarter of all UPI transactions, app now has a share of just 0.76%

NRE/NRO accounts with international mobile numbers can now use UPI

The UPI ecosystem members have to comply with NPCI's directions by April 30, 2023

UPI, Singapore's PayNow integration anytime soon: Official at G20 meet

The Monetary Authority of Singapore on Monday said integration of India's Unified Payment Interface (UPI) and equivalent network in Singapore, known as PayNow, will begin anytime soon, which in turn will reduce the remittance cost by 10 per cent. There will be interoperability of the two digital payment networks, allowing seamless remittances between the two countries at a highly competitive rate. "Integration of UPI and Singapore's PayNow with India is ready and waiting for launch," Singapore central bank's chief fintech officer Sopnendu Mohanty said at the G20 meeting on financial inclusion at Kolkata. "As of now, remittance to India is at least 1 billion Singapore Dollars and India to Singapore will be 200-300 million Singapore Dollars," Mohanty said. Pramod Verma, chief architect of Aadhaar & India Stack said similar interoperability will also happen with Dubai and a few other countries soon. He said this integration will also help Indian tourists pay in Singapore using ...

UPI processes record 7.82 bn transactions in December, ends 2022 on a high

In the calendar year 2022, UPI processed over 74 billion transactions, worth Rs 125.94 trillion, NPCI data showed

Growth restrictions

Limits on digital payments should be avoided

Saw many threats from crypto; CBDC was the way forward: RBI DG Sankar

Implementing NPCI volume-cap right now may have caused friction in UPI

UPI volume cap deadline extended by 2 yrs in relief for PhonePe, Google Pay

Players wanted five-year extension on the market cap deadline

Why this is India's decade

From being the 'office to the world', India is set to become its factory too

Top headlines: CDSL malware attack, removal of penal offences from GST law

Business Standard brings you the top headlines at this hour

NPCI holds talks with RBI on proposed December 31 volume cap deadline

National Payments Corporation of India (NPCI), which runs the UPI digital pipeline, is in talks with the Reserve Bank on implementation of its proposed December 31 deadline for limiting the volume cap of players to 30 per cent. At present, there is no volume cap. So, two players -- Google Pay and PhonePe -- account for a market share of about 80 per cent. NPCI in November 2022 had proposed a 30 per cent volume cap for third-party app providers (TPAP) in a bid to avoid concentration risk. In this regard, sources said, a meeting was convened to comprehensively look at all aspects. Besides NPCI officials, senior officials of the finance ministry and RBI also participated in this. At the moment, NPCI is evaluating all the possibilities and no final decision has been taken to extend the December 31 deadline, the sources said. NPCI has also received representations from industry stakeholders to extend the deadline and they are being examined, they added. According to the sources, NPCI

A step-by-step guide on withdrawing cash from ATM using UPI apps

Withdrawing without debit or credit cards reduces chances of transaction failure due to wrong PINs, or lost or stolen cards; note, however, that very few banks offer UPI-based withdrawals currently

Top headlines: Adani to build plants in SL, active Indian firms near 1.5 mn

Business Standard brings you the top headlines this hour

National Payments Corporation introduces BHIM App open source license model

NPCI introduced the BHIM app open-source license model, under which the source code of BHIM App will be licensed to regulated entities who do not have an UPI app of their own

IPPB revises charges for Adhaar enabled payments; here all you need to know

The India Post Payments Bank has increased charges for the Aadhaar Enabled Payment System service. The revised AePS Issuer transaction charges will be effective from December 1, 2022

Centre to not intervene in deciding deadline for payment platforms' 30% cap

PhonePe and Google Pay approached the National Payments Corporation of India (NPCI) asking for an extension to the December 2022 deadline for at least three years

RuPay credit card UPI to succeed if small transactions under 10%: Asbe

'RuPay credit card UPI to see good traction if small merchant transaction stays within 10%'

NPCI CEO pitches UPI autopay after Musk demands fee for blue ticks

Even as a debate rages about Twitter's decision to charge users for 'blue ticks', the NPCI has pitched its UPI autopay offering to take care of the monthly payments. National Payments Corporation of India (NPCI) managing director and chief executive Dilip Asbe replied to a tweet by billionaire Musk, saying the UPI's recurring payments offering already has 7 million users. "No worries, India has UPI AutoPay (7 Mn new approved collection mandates/month) to collect every anytime/month/quarter or yearly as you wish dear Twitter," Asbe wrote in response to Musk's tweet, tagging the microblogging site as well. "To all complainers, please continue complaining, but it will cost USD 8," Musk said in a tweet. It can be noted that the NPCI operated Unified Payments Interface (UPI) has been at the centre of the Indian digital payments story and taken the electronic alternative to newer highs. Twitter has been giving the 'blue tick' for public figures and known figures for many years now. The

TMS Ep280: NPCI's international unit, 5G delay, realty stocks, equity funds

Can India's UPI system go global? Why you may have to wait longer for the 5G experience? Will rate hike worries dent realty stocks? How to select an equity fund? All answers here