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Indian Bank inks pact with FPL Tech to launch co-branded credit card

Public sector Indian Bank has partnered with FPL Technologies, to launch the Indian Bank One Co-branded Credit Card, the bank said on Friday. Leveraging the Visa and RuPay platforms, the cards would be issued by Indian Bank and managed by FPL Technologies. The partnership brings in Indian Bank, FPL Technologies, NPCI, and VISA, signaling a synergy of expertise, innovation, and commitment toward providing customers with unparalleled services in the credit card domain. "The launch of the Indian Bank One Co-branded credit card exemplifies our commitment to offering cutting-edge digital solutions to our customers. As one of the oldest public sector banks, we are excited to offer our users a new-age digital experience and extend our credit card offerings to a wider audience," Indian Bank MD and CEO Shanti Lal Jain said in a statement. "This collaboration will allow us to stay at the forefront of the industry offering our customers the latest advancements in credit solutions reinforcing

NPCI expands UPI's linkage with Singapore's PayNow: Check details here

Currently, users of mobile-based applications such as Bharat Interface for Money (BHIM), PhonePe, and Paytm can access the service

UPI best payments system, RBI not averse to having rival of NPCI: Das

Reserve Bank Governor Shaktikanta Das on Thursday dismissed criticism from certain quarters that after the huge success of UPI, its creator NPCI has become a monopoly and asserted that there is more room for the payment app to grow and it can become the world leader in payments. Unified Payments Interface or UPI, developed by National Payments Corporation of India (NPCI), has been a runaway success and is already operational in some countries, including Singapore and the UAE. Its monthly volume in the country crossed the 100-billion mark many months ago. RBI is in discussion with more central banks in other countries. Dismissing the criticism that NPCI, set up by RBI and other financial institutions, has become a monopoly, he said, it is the best creation. Das was speaking at a BFSI seminar organized by business daily Mint. "UPI has already become a digital public infrastructure. In fact it has to grow even further. I would say this is the best payments system in the world as of n

New block facility sees token trades in 1st week as only few able to avail

The so-called ASBA facility, which has become operational from January 1, has seen only 'token trades' with a limited set of customers making use of the facility

Large merchants may have to pay reasonable fee on UPI payments: NPCI chief

Asbe said investments will be key to rope in another set of users under the digital payments mode while emphasising that the country has an opportunity to grow ten times in the digital payments space

Comply with higher UPI transfer limit by Jan 10, NPCI directs members

To ensure compliance with the enhancement, NPCI has asked banks, payment service providers, and UPI applications to ensure transaction limits are raised for the aforementioned merchant categories

UPI transaction rules 2024: New regulations applicable from January 1

UPI new rules: The RBI and NPCI have announced a number of changes to regulations for online payments via UPI. Here are the top 5 such changes

UPI scales new high in December; 2023 value up 59% at Rs 183 trn

Monthly FASTag and IMPS transactions increase too, but those at Aadhaar Enabled Payment System fall

HDFC Bank goes live with NPCI-developed UPI in secondary market platform

HDFC Bank has executed transactions via the NPCI's UPI payments app as part of the 'UPI for secondary market' facility, which which went live on Monday, the lender said in a statement. The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NCPI). Effective January 1, Sebi and the stock exchanges permitted trading in the cash segment through block mechanism, on an optional basis, for the secondary market on the lines of Application Supported by Blocked Amount (ASBA) for primary markets where investors' funds will continue to remain in their savings account with the required funds being blocked instead of the investor having to upfront transfer the amount to the broker's account for placing trades. On December 29, the NPCI had said the 'UPI for secondary market' facility will go live from January 1 in the Beta phase for the equity cash segment, with support from clearing corporations, stock exchanges, .

Cybersecurity firm TAC considering IPO in 2024 among options to raise funds

Company provides services to NPCI, BSE and NSE and has clients abroad

No silver lining to RBI's cloud

There is no evidence to suggest that a state-run cloud server business would do a better job, with at least two reports of UPI-related data leaks having emerged in the last two years

Digital money heist: What's behind surge in online payment fraud?

More than 47 per cent of all cybercrime is linked to UPI payments, making it the most common form of financial fraud, says a report by FCRF

PayCraft partners NSDL Payments Bank, NPCI to launch corporate transit card

PayCraft, a fintech entity in online and offline payments processing, on Tuesday said it launched One Nation Corporate Card in partnership with NSDL Payments Bank and National Payments Corporation of India (NPCI). The Mumbai-based company said the card, built on an indigenously developed multi-wallet platform with transit issuance and processing capability, serves as a tax benefit instrument for corporate employees. The card also comes with a corporate expense management platform for the employer to manage their expenses digitally. "The One Nation Corporate Card will be offered to the Indian customers pan-India from June end. We aim to service a million customers both corporates and SME employees pan-India within 24 months of our launch," said Ambarish Parekh, CEO of PayCraft. Built on National Common Mobility Card (NCMC) specifications with offline enabled, these cards will advance the Government of India's vision of One Nation One Card, the company said. It also offers a solutio

RBI hikes UPI limit for hospital, educational payments: What does it mean?

RBI MPC: In another key announcement related to digital payments, Governor Shaktikanta Das proposed to hike the e-mandate for recurring payments to Rs 1 lakh from the current Rs 15,000

RBI and NPCI look for offline methods to boost digital payment adoption

RBI has established a sandbox allowing startups to experiment with various central bank-backed digital currency (CBDC) use cases

Explained: The pros and cons of linking RuPay Credit Card to UPI

The National Payments Corporation of India (NPCI) is looking for ways to encourage RuPay credit card payments linked to the Unified Payments Interface (UPI) by addressing challenges in its adoption

Transferred money to the wrong UPI ID? Here's how can retrieve it

Developed by the National Payment Corporation of India (NPCI), UPI enables fund transfers without requiring an IFSC code or account number

Here are details of new IMPS money transfer rule: How will it work?

Users will soon be able to transfer money up to Rs 5 lakh through IMPS by deploying the mobile number and bank account name of the receiver

Sign of the times: QR code turns better with AI

AI corrects errors and personalises codes in the ubiquitous signs used by billions of people. It creates dynamic images that change at frequent intervals to prevent misuse

NPCI Int'l to develop UAE's domestic card scheme in partnership deal

Scheduled to launch in early 2024, the DCS will aim to facilitate the growth of e-commerce and digital transactions in the United Arab Emirates