Page 3 - Online Transaction

RBI's rules on online transactions mean for consumers and merchants

To make online transactions secure, the RBI has asked merchants & payment gateways to remove customer data on cards saved with them and use encrypted tokens. Here's how it will impact digital commerce

TMS Ep69: RBI tokenisation, Abhijit Bhave, unicorn boom, net-zero

What's RBI rule on online transactions mean for consumers and merchants? When will FPIs turn to India again? What explains India's unicorn boom in 2021? How can the world achieve net-zero targets?

Razorpay Launches 'TokenHQ' to help businesses comply with RBI guidelines

Almost the entire base of 5 million businesses using Razorpay's services will be ready to support tokenised card transactions.

Explained: What tokenisation means and how it will affect card users

Transactions will be smooth after one-time tokenisation

Only card firms, banks to keep card details, others must purge data: RBI

Tokenisation is used in online transactions where the actual card details keyed in are replaced by random digits

UPI logs phenomenal growth, other nations keen to learn from India: Panda

Several countries have shown interest to learn from Indian experience so that they could replicate the model: Financial Services Secretary Debasish Panda

Digital payments start-up Mobikwik nears filing for $300-million IPO

MobiKwik plans to lodge the listing documents with the Indian securities regulator as soon as the next few days

A substantial fall in installation of PoS machines in India: Report

According to the Worldline India Digital Payments Report for Q1 2021, the new number likely reflects a more realistic number of the terminals deployed

Paytm board grants in-principle approval for around Rs 22,000 crore IPO

Digital payments and financial services firm Paytm has received in-principle approval from the company's board to raise around Rs 22,000 crore through an initial public offer during the October-December quarter this year, according to an industry source. The company is looking at an enterprise value of over Rs 2 lakh crore for the IPO, which is likely to be discussed at its board meeting scheduled for Friday. "The board of directors of Paytm has given in-principle approval for the mega IPO planned to be launched in October-December quarter. The company expects to raise around Rs 21,000-Rs 22,000 crore from the IPO. This will also give some of the existing investors to offload some of their stake," the source aware of the development told PTI. The board meeting of the company was held on Friday. When contacted, Paytm spokesperson declined to comment. It is likely to be one of the largest IPOs in India if the company is able to achieve the target as per its plan. Paytm shareholders

Bank NEFT transfers will not be operational coming weekend

If you planning an online money transfer using the banking system between Saturday midnight and Sunday, you are well advised to either cancel or postpone such transfers

Google Pay launches global money transfers with Wise and Western Union

Google Pay users in the United States can now transfer money to app customers in India and Singapore

Cybercriminals make the most of Covid amid increased digital user presence

A recent study by Norton Cyber Safety Insights Report puts the spotlight on cybercriminal activity in India and its impact

E-wallets are similar to bank accounts, but more convenient: Experts

Will help those who can't ensure minimum balance

Top UPI players stare at uncertain future over 30% cap in market share

When an app breaches 30 per cent market share by volume, NPCI will ask third party apps to stop onboarding of new customers.

Learning to be flexible in a changing world

As India looks to solidify its position as a competitive global commerce hub, it is essential to deepen economic integration and lower trade costs. The key to achieving this is trade digitisation

ICICI Bank enables customers to break high-value transactions into EMIs

ICICI Bank customers can break their high value transactions of over Rs 50,000 into suitable EMIs directly on its internet banking platform to make their purchases more affordable, the lender said on Wednesday. The facility is the first in the industry, the bank added. It will be applicable on transactions up to Rs 5 lakh and will bear no additional cost on the customers. Christened 'EMI @Internet Banking', the facility will enable customers convert their high-value transactions up to Rs 5 lakh into easy monthly instalments, ICICI Bank said in a release. Customers can purchase gadgets or pay for their insurance premium or school fees in easy EMIs from their savings account using the internet banking platform, it said. The bank has tied up with online payment gateways BillDesk and Razorpay to enable this facility. To begin with, over 1,000 merchants in categories like online shopping portals, insurance, travel, education- school fees and electronic chains have been brought ...

Paytm payment gateway registers over 750 mn monthly transactions

Digital payments services firm Paytm said its payment gateway now registers 750 million transactions on a monthly basis. The company said that payment instruments issued by Paytm Payments Bank, including Paytm Wallet and Paytm UPI, have contributed about 60 per cent to the total transactions registered on the gateway. Paytm PostPaid and EMI services which were launched last year have continued to gain popularity with users and are registering 25 per cent month-on-month growth, the company said in a statement. "We are the leading providers of payment gateway services and take pride in enabling millions of businesses to automate and centralise their payment processes. Our systems have the capacity to manage up to 2,500 transactions per second which ensure stability when our enterprise merchants see spikes during special events and sales," Paytm senior vice president Praveen Sharma said. According to the latest RedSeer report on digital payments in India, Paytm Gateway is the fastest

Banks face tech resilience test as Covid-19 boosts digital services

Between April 2020 and January 2021, mobile banking transaction volumes doubled to 39 million, while internet banking transaction volumes grew 60 per cent to 7 million

Stay secure: Treat wearables on par with cards to make contactless payments

Acceptance of wearable devices will depend on speed and ease of grievance redressal

Focus on technology

Banks must invest in improving customer interface