Page 4 - Payment Systems
Pine Labs makes majority investment in payment solution provider Mosambee
The leadership team at Mosambee will continue to operate independently.
 "Pine Labs makes majority investment in payment solution provider Mosambee")
RBI directs banks and non-banks to geotag payment touch points
Geo-tagging refers to capturing the geographical coordinates (latitude and longitude) of payment touch points deployed by merchants to receive payments from their customers
 "RBI directs banks and non-banks to geotag payment touch points")
RBI releases framework for geo-tagging of payment system touch points
Geo-tagging refers to capturing the geographical coordinates (latitude and longitude) of payment touch points deployed by merchants to receive payments from their customers
 "RBI releases framework for geo-tagging of payment system touch points")
Google to begin testing 3rd party billing systems with Spotify
The programme will allow a small number of participating developers to offer an additional billing option next to Google Play's billing system
 "Google to begin testing 3rd party billing systems with Spotify")
Banks, fintech firms need to collaborate to reach the unserved population
There is a clear need for both banks and bankers, say experts
 "Banks, fintech firms need to collaborate to reach the unserved population")
What is RTGS funds transfer system?
Real Time Gross Settlement or RTGS system has cut short the risk to high-value payment settlements among financial institutions. It is used by central banks worldwide. Find out more about the system
 "What is RTGS funds transfer system?")
What is the SWIFT payment system?
Following Russia's attack on Ukraine, the EU and the US announced measures to block selected Russian banks from the SWIFT payments system. What is SWIFT? Watch this report to know more about it
 "What is the SWIFT payment system?")
Facebook Messenger rolls out 'Split Payments' feature in US
Meta-owned Facebook Messenger is also introducing voice message recording controls and a mode for sending disappearing messages
 "Facebook Messenger rolls out 'Split Payments' feature in US")
Payment service provider PayU's SMB vertical sees 70% jump in revenues
In September last year, PayU agreed to acquire payments gateway BillDesk in an all-cash transaction of $4.7 billion
 "Payment service provider PayU's SMB vertical sees 70% jump in revenues")
Reserve Bank may rationalise some payment charges, says industry
Others say central bank may relook zero merchant discount rate on RuPay, UPI
 "Reserve Bank may rationalise some payment charges, says industry")
UPI registers record 4.21 bn transactions worth Rs 7.71 trn in October
IMPS & FASTag also see record transactions in October
 "UPI registers record 4.21 bn transactions worth Rs 7.71 trn in October")
RBI fines five payment system cos for breach of escrow, KYC and other norms
While Transaction Analysts (India) takes Rs 3 cr hit, four white label ATM operators suffer Rs 1-2 cr penalties
 "RBI fines five payment system cos for breach of escrow, KYC and other norms")
Reserve Bank of India's FI-Index shows better access to financial services
The RBI had announced the introduction of such an index in its bi-monthly monetary policy statement on April 7
 "Reserve Bank of India's FI-Index shows better access to financial services")
NUE may make India the cradle of cutting-edge global payment systems
The NUE will be a direct competitor to NPCI and develop the payments infrastructure for the country, similar to what NPCI has done
 "NUE may make India the cradle of cutting-edge global payment systems")
Tech giants' growth in digital financial services poses stability risk: RBI
India has seen massive interest from deep pocketed global technology players in recent years as Amazon.com Inc., Alphabet, others.
 "Tech giants' growth in digital financial services poses stability risk: RBI")
Statsguru: Seven charts explain India's tryst with cryptocurrencies
Bitcoin, which commands more than $50,000 on any exchange today, was founded anonymously in 2009
 "Statsguru: Seven charts explain India's tryst with cryptocurrencies")
Payment system operators can't issue new proprietary QR codes, says RBI
RBI also frames guidelines for self-regulatory organisation for payment system operators
 "Payment system operators can't issue new proprietary QR codes, says RBI")
Fintech RapiPay plans to deploy 500,000 micro ATMs in next two years
Capital India Finance's fintech subsidiary RapiPay on Tuesday said it aims to deploy 5 lakh micro ATMs over the next two years in the country. RapiPay, which uses a franchised retail network to provide banking business correspondents (BCs) services, has recently launched micro ATMs (mATMs) across the country. The company said it believes that for ATM cash withdrawals, Micro ATMs are a game-changer for Indian consumers, especially the marginalised population located in tier I, II towns and rural India. "We have been able to install over 25,000 devices within a month of its launch. RapiPay Micro ATMs are revolutionary in comparison to the conventional ATMs and offers utmost ease to the consumers enabling them to withdraw cash and do other similar banking activities at any RapiPay Saathi store without having to travel kilometres in search of an ATM," RapiPay MD & CEO Yogendra Kashyap said. Availability of Micro ATMs, AePS (Aadhaar Enabled Payment System) and other services such as ...
 "Fintech RapiPay plans to deploy 500,000 micro ATMs in next two years")
Contactless cards may come in handy amid Covid-19, but there is risk
However, one has to be cautious, as electronic pickpocketing is catching up
 "Contactless cards may come in handy amid Covid-19, but there is risk")
Meet the techies who are building a one-stop finance shop for millennials
Their integrated financial services EpiFi platform aims to have all products on a single dashboard including savings accounts, investment opportunities, lending, fund transfer and insurance
 "Meet the techies who are building a one-stop finance shop for millennials")
