Online Transaction

Fintech stocks decline as MDR on UPI likely to be deferred to January 1

Shares of Paytm, MobiKwik and Pine Labs declined amid reports that the proposed UPI merchant discount rate could be deferred to January 2027 from October 15

MDR on UPI unlikely to dent transaction volumes: RBI Governor Malhotra

A 0.4 per cent merchant discount rate takes effect on October 15, while small payments remain free; UPI recorded 802 million average daily transactions in September.

No preferential access to biz from group cos: Jio Payment Solutions CEO

Jio Payment Solutions is prioritising large enterprises and profitable segments as it seeks to expand in India's crowded digital payments processing market

Apple Pay finally arrives in India, Axis Bank gets 1st-mover advantage

The service is available on iPhone and iPad at launch, with support for Mac in the works; UPI and RuPay are not supported initially

UPI usage holds steady in September despite backlash over new MDR norms

UPI processed an average 802 million transactions a day in September, up about 1 per cent from August, while transaction value also remained firm despite the MDR backlash

Apple Pay India FAQ: How to set up, pay, supported cards and security

Apple Pay is now available in India. Here is how to set it up, which cards work at launch, how payments are secured, and whether there are any fees

Apple Pay comes to India: Axis Bank credit card users can now tap to pay

Apple Pay is now available in India on iPhone, iPad and Apple Watch, with Axis Bank-issued Visa and Mastercard credit cards supported at launch

MDR on UPI payments: What customers, merchants need to know from Oct 15

From October 15, MDR will apply to certain UPI payments above ₹2,000 made to large merchants, while customers and eligible small vendors will continue to pay no fee

Fintechs race to expand merchant networks as MDR returns to UPI payments

PhonePe, Paytm, Pine Labs and MobiKwik are stepping up merchant acquisition and device deployment as UPI MDR returns and NPCI plans a Rs 3,000-crore fund

Wise to roll out multi-currency prepaid forex card for users in India

The UK fintech enters India's cross-border payments space, offering a card with 0.5% average FX fee and mid-market rates, challenging traditional markups

RBI Deputy Governor Rao flags off a walkathon on cyber security awareness

Reserve Bank of India Deputy Governor M Rajeshwar Rao on Sunday emphasized that banking services, including digital platforms, are designed for public convenience and must be used responsibly. The Bankers' Club, Chandigarh, organized a walkathon on Cyber Security Awareness at Sukhna Lake here on Sunday which was flagged off by Rao. Rao noted that such physical initiatives, alongside RBI's online campaigns, are highly effective in spreading awareness. According to an official statement here, Rao said that while counterfeit currency circulation is minimal, the public must continue to use the "look, touch, and feel" method to verify notes. With growing adoption of digital payments, reliance on cash is declining, ensuring safer and more secure transactions. The walkathon event witnessed enthusiastic participation from bankers across the region, who came together to spread awareness on safe banking and responsible digital practices, the statement said. Rao congratulated the banking ..

Payments Council of India reappoints Patel, Srinivasu; Bansal joins team

The Payments Council of India has reappointed Vishwas Patel and M N Srinivasu as chair and co-chair while inducting Nalin Bansal, alongside naming heads for key payments committees

UPI tops Rs 25 trn in July; IMPS transactions rise as FASTag volumes fall

UPI transactions in July climbed to 19.47 bn in volume and Rs 25.08 tn in value, with AePS and IMPS also rising while FASTag saw a dip in both volume and value

UPI leads digital shift as 48% MSMEs use it for business transactions

A new report shows nearly half of MSMEs now prefer UPI for transactions, highlighting a major shift towards digital tools to boost efficiency and income across small businesses

Sebi to launch UPI authentication tool for safer securities transactions

To curb cyber fraud, market regulator Sebi has mandated a new Unified Payments Interface ID format for all registered intermediaries collecting investor funds

UPI transactions rebound in May with 18.68 bn payments; 33% yearly surge

The rebound follows a dip in April, when UPI volumes declined from 18.3 billion in March. That slump was attributed to multiple service disruptions that affected payment flows

NPCI steps up UPI vigil to prevent future disruptions in core network

Outlines operational guidelines for 10 APIs linked to UPI

UPI QR transactions jump 33% at retail stores this year: PayNearby

UPI transactions at retail stores have increased by 33 per cent in semi-urban and rural areas this year, reflecting the growing adoption of digital payments, says a report. Moreover, insurance policy purchases and premium collections saw a 127 per cent increase in transaction volume and a 96 per cent growth in new customer adoption during the year, the report by branchless banking and digital network PayNearby said. "The data highlights the role digital retail stores play in overcoming the challenges of insurance penetration across Bharat," it stated. The report is based on an analysis of real transaction data derived from over 10,00,000 small retailers (kirana stores, mobile recharge stores etc) offering financial and digital services spread across India in rural and semi-urban regions. The findings compare business data from January to November 2024 with the same period in 2023. The report, Retail-O-Nomics, stated that there has been an impressive 297 per cent volume rise across

Bureau secures $30 m in Series B funding to combat growing cyber fraud

With global fraud losses surging past $5 trillion annually-a staggering 56 per cent increase in the past decade-the demand for advanced fraud prevention has never been more critical

Digital transactions in India to grow threefold by 2028-29: Report

UPI, credit cards, QR codes adoption increasing but debit cards may be losing their sheen