Page 6 - Online Payments
UPI payments touch record high of Rs 12.82 trillion in December 2022
Payments through the Unified Payments Interface (UPI) touched a record high of Rs 12.82 lakh crore in December. During the month, 782 crore transactions in volume terms were done on the platform, which was launched in 2016. "UPI has made major contribution in ushering digital payment revolution in the country. In December 2022, UPI has crossed 7.82 billion transactions worth ?12.82 trillion," the Department of Financial Services said in a tweet on Monday. Payments through UPI had crossed the Rs 12 lakh crore mark in October this year. In November, as many as 730.9 crore transactions worth Rs 11.90 lakh crore had taken place via UPI. UPI is an instant real-time payment system which facilitates inter-bank peer-to-peer (P2P) transactions. The transaction is done through mobile in easy steps. Besides, there are no charges applicable for UPI transactions. The inexpensive medium for cashless transactions has been gaining traction month-on-month and 381 banks are live on it. UPI transa
 "UPI payments touch record high of Rs 12.82 trillion in December 2022")
Four senior execs quit BharatPe, to pursue 'entrepreneurial passions'
Among the top brass leaving today were Vijay Aggarwal, Rajat Jain, Geetanshu Singla, and Nehul Malhotra
 "Four senior execs quit BharatPe, to pursue 'entrepreneurial passions'")
Zomato, Paytm dole out ESOPs to top executives in H1FY23 despite losses
According to regulatory filings by Paytm and Zomato, key managerial personnel have been rewarded ESOPs worth crores during the first half of FY23
 "Zomato, Paytm dole out ESOPs to top executives in H1FY23 despite losses")
Fino Payments zooms 36% in 2 days as Capri Global buys 1.3 mn shares
On Wednesday November 23, Capri Global Holdings Private Limited bought 1.32 million shares representing 1.59 per cent of total equity of Fino Payments Bank via open market deals.
 "Fino Payments zooms 36% in 2 days as Capri Global buys 1.3 mn shares")
Like China's WeChat, Musk will let Twitter users make digital payments
Twitter last week filed registration paperwork with the US authorities to allow it to process payments on the platform
 "Like China's WeChat, Musk will let Twitter users make digital payments")
No break-up fee from Prosus after termination of deal with BillDesk
PayU's expansion plans which it had charted out based on the acquisition have been put on hold for over a year
 "No break-up fee from Prosus after termination of deal with BillDesk")
India saw 20.5 billion online transactions worth Rs 36 trillion in Q2FY22
India saw 20.57 billion online transactions worth Rs 36.08 trillion in the second quarter (Q2) this year, a report showed on Tuesday
 "India saw 20.5 billion online transactions worth Rs 36 trillion in Q2FY22")
We've moved away from being a founder-run company: BharatPe's Suhail Sameer
In a Q&A, the firm's CEO asserts that the company is now professionally run and is focused on being IPO ready
 "We've moved away from being a founder-run company: BharatPe's Suhail Sameer")
India's Pine Labs eyes $4-5 bn in monthly payments from new business
India's Pine Labs is targeting $4 billion to $5 billion in monthly transactions within two years for its new online payments business.
 "India's Pine Labs eyes $4-5 bn in monthly payments from new business")
Need to protect consumers from consolidation of internet-economy: Govt
The government said consumer complaints related to online transactions are rising and pointed out that of the total complaints registered last month on NCH, 38-40% pertained to e-commerce trade
 "Need to protect consumers from consolidation of internet-economy: Govt")
Top crypto exchange Coinbase freezes hiring, revokes accepted offers
The company also revoked accepted offers from some candidates who haven't joined it yet
 "Top crypto exchange Coinbase freezes hiring, revokes accepted offers")
Digital payments in India projected to reach $10 trn by 2026: Report
Smaller cities have recorded high acceptance of such transactions as cash use declines in country.
 "Digital payments in India projected to reach $10 trn by 2026: Report")
UPI hits record high in April with 5.58 bn transactions worth Rs 9.83 trn
Value of transactions doubled on YoY basis
 "UPI hits record high in April with 5.58 bn transactions worth Rs 9.83 trn")
WhatsApp to bet big on payments in India after NPCI nod for 100 mn users
Monthly volume of transactions has stagnated on the platform in the past six months, but value of transactions has doubled
 "WhatsApp to bet big on payments in India after NPCI nod for 100 mn users")
What is a payment gateway?
Most merchants today use payment gateways to accept purchases from customers. Let us know more about this technology which is making our transactions safe and quick
 "What is a payment gateway?")
NPCI launches on-device wallet feature for UPI users for small transactions
Initially, UPI Lite will process transactions for NPCI wallet in near offline mode i.e., debit offline and credit online.
 "NPCI launches on-device wallet feature for UPI users for small transactions")
Statsguru: From UPI to IMPS, mapping digital transactions in India
Wallets have also made a comeback, with rising transaction volumes
 "Statsguru: From UPI to IMPS, mapping digital transactions in India")
Value of UPI transactions declined to Rs 8.27 trillion in Feb: NPCI data
There were a total of 452 crore (4.52 billion) transactions in February 2022
BharatPe co-founder & MD Ashneer Grover not granted reliefs by SIAC
Grover had filed an arbitration plea to stop a probe into alleged financial mismanagement in the company, and had also sought indemnity
 "BharatPe co-founder & MD Ashneer Grover not granted reliefs by SIAC")
Paytm logs new record in lending business, strengthens payments leadership
Over 2.3 million devices deployed across the country as of the end of January 2022, a measure of offline payments leadership.
 "Paytm logs new record in lending business, strengthens payments leadership")