Page 7 - Npci

NPCI incorporates NPCI BHIM Services Ltd as a wholly-owned subsidiary

Former banker Lalitha Nataraj will head the new subsidiary as its chief executive officer (CEO). Nataraj has previously worked with IDFC FIRST Bank and ICICI Bank

NPCI incorporates NPCI BHIM Services Ltd as wholly-owned subsidiary

National Payments Corporation of India (NPCI) on Tuesday announced the incorporation of NPCI BHIM Services Ltd (NBSL) (earlier known as Bharat Interface for Money' BHIM) as a wholly owned subsidiary. This development aims to meet the growing demand for digital transactions and evolving market expectations while keeping pace with innovation and rapidly shifting customer preferences, NPCI said in a statement. Additionally, it aims to promote financial inclusion, it said. This development not only aims to strengthen India's own digital payment ecosystem but also reflects a sense of national pride and significance in developing a sovereign digital payments framework, it said. The incorporation of NBSL underscores NPCI's commitment to facilitate digital payments and financial inclusivity across the country and beyond, it added.

NPCI to level up UPI play with BHIM spin-off; appoints Nataraj CEO of arm

Lalitha Nataraj previously worked with IDFC FIRST Bank and ICICI Bank

Cross-border UPI payments in Nepal cross 100,000 within six months

Under the arrangement, Indian users in Nepal can make instant UPI payments across stores in Nepal using UPI-enabled applications

RuPay credit card on UPI to earn equal rewards like other cards from Sept 1

The RuPay credit card issuing banks must abide by the contents of the circular by September 1, 2024, according to the NPCI

Credit transactions on UPI reaching Rs 10K cr every month: NPCI chief

NPCI's "credit line on UPI", launched last year, offers low-ticket, high-volume retail loans to individuals and businesses

Gaining momentum: UPI transactions top Rs 20 trn for third straight month

NPCI's data shows that the average daily transaction count on UPI in July was 466 million, amounting to Rs 66,590 crore

Small Indian banks back online after ransomware attack, says NPCI

India has about 1,500 cooperative and rural regional banks, which largely serve customers in hinterland areas, one-fifth of which were affected by the attack

NPCI reestablishes connectivity with C-Edge following ransomware attack

C-Edge, a joint venture between State Bank of India (SBI) and Tata Consultancy Services (TCS), is a technology service provider that offers services to cooperative and regional rural banks

Travel firm Thomas Cook India partners with NPCI to launch RuPay forex card

Travel services provider Thomas Cook (India) on Tuesday said it has collaborated with National Payments Corporation of India (NPCI) to launch its first RuPay prepaid forex card for Indian travellers visiting the UAE. The partnership commences with the UAE as a pilot, which will be followed by a global rollout in a phased manner, Thomas Cook said in a statement. Travellers can use Thomas Cook's RuPay AED (United Arab Emirates Dirham) card extensively across the UAE for transactions and ATM withdrawals. The company claimed that it is the first and the only company to have partnered with NPCI to launch RuPay AED prepaid forex card. "This innovative Made-in-India initiative is a first-of-its-kind partnership with an Indian non-banking entity," Thomas Cook (India) Executive Vice-President - Foreign Exchange, Deepesh Varma said. The UAE is an important global market for Thomas Cook (India) foreign exchange business and the company's card business has witnessed a significant growth, with

Funding to payments fintechs in India down 99% in two years: Report

The decline in funding comes on the back of reasons such as companies shifting their business models to lending and other sectors due to lower sustainability of the payments business

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

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

'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

RBI permits automatic replenishment of UPI Lite wallet: Check details

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

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

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

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

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 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