Page 9 - Npci

Paytm Payments Bank saga: FASTag makers gear up as demand from FIs rise

According to industry sources, Airtel Payments Bank has placed 5x to 7x more orders for FASTags than they would place in a normal order

Central banks of India, Nepal sign agreement to link UPI-NPI, says RBI

State-owned Central banks of India and Nepal on Thursday signed terms of reference for the integration of the Unified Payments Interface (UPI) and National Payments Interface (NPI). The Reserve Bank of India and Nepal Rastra Bank signed the terms of reference. The formal launch of the linkage or commencement of operations will be done at a later date, the Reserve Bank said in a statement. "The integration is aimed at facilitating cross-border remittances between India and Nepal by enabling users of the two systems to make instant, low-cost fund transfers," it said. The RBI further said the collaboration between India and Nepal in linking their fast payment systems through the UPI-NPI linkage will further deepen financial connectivity and reinforce the enduring historical, cultural, and economic ties between the two countries. Based on the terms of reference exchanged between the RBI and NRB, the necessary systems will be put in place for the interlinking of UPI and Nepal's NPI.

Kendriya Vidyalaya students can now pay their fees via UPI mobile apps

Currently, there are 1.4 million students enrolled in Kendriya Vidyalayas across the country

RBI to meet NHAI, NPCI to discuss rescue plan for Paytm PB users: Report

NPCI oversees the United Payments Interface payments, and NHAI operates the FASTag service

NPCI appoints Ajay Kumar Choudhary as non-executive chairman of board

Choudhary succeeds Biswamohan Mahapatra who was appointed non-executive chairman in 2018

Volume, value of UPI transactions slip due to downtime with bank servers

The volume and value of transactions on UPI were pegged at 430.42 million and Rs 77,049 crore, respectively, a day before the widespread outage

UPI payments failing amid server outages; NPCI working with banks

Regret inconvenience on UPI connectivity as few of the banks are having some internal technical issues, NPCI said in a statement

Now, pay for Paris' Eiffel Tower visit through India's UPI, says NPCI

Eiffel Tower is the first merchant to offer UPI payments in France, and the service will soon be extended to other merchants in the tourism and retail space across France and Europe

UPI transactions reach a record Rs 18.41 trillion in January: NPCI data

According to data shared by the National Payments Corporation of India (NPCI), January numbers were 52 per cent higher in volume compared to the same month last financial year

Google Pay signs agreement to expand UPI for international payments

This will enable Indian travellers to transact digitally outside the country while also establishing systems similar to the Unified Payments Interface (UPI) in other countries

Google Pay signs pact with NPCI to expand UPI payments outside India

Google India Digital Services and NPCI International Payments Ltd (NIPL) have signed an agreement that will help expand UPI payments to countries outside India. The memorandum of understanding (MoU) will enable Indian travellers to make payments in other countries via Google Pay (also known as GPay), eliminating the need to carry cash or resort to international payment gateways. "The MoU has three key objectives. First, it seeks to broaden the use of UPI payments for travellers outside of India, enabling them to conveniently make transactions abroad. Second, the MoU intends to assist in establishing UPI-like digital payment systems in other countries, providing a model for seamless financial transactions. Lastly, it focuses on easing the process of remittances between countries by utilizing the UPI infrastructure, thereby simplifying cross-border financial exchanges," Google Pay said in a statement. The deal focuses on easing the process of remittances between countries by utilising

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, .