Page 3 - Payment

Paytm receives third-party application provider licence from NPCI

Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm

Paytm's third-party application licence likely to get approval this week

UPI, operated by the NPCI, is India's real-time payments system that allows users to transfer money across banks

IndusInd Bank launches Indus PayWear, an all-in-one tokenisable wearable

This tokenisable wearable, for both debit and credit cards, has been launched by Induslnd Bank in collaboration with Mastercardand can be purchased in the form of a ring, watch clasp, or stickers

Visa, Western Union expand their partnership to more than 40 nations

Past iterations of the partnership focused on serving consumers in North America and Europe, said Chris Newkirk, Visa's head of commercial and money-movement solutions

JPMorgan Chase joins France's payments network CB to avoid Visa, Mastercard

For payments made locally in France, it's usually cheaper for merchants run them over Cartes Bancaires

Reserve Bank of India widens scope of BBPS to non-bank payment aggregators

Number of participants on BBPS to go up with participation of PAs

RBI orders Visa to stop unauthorised B2B card payment system: Report

Business-to-business payments via cards include payments by businesses to their vendors and in some cases tax payments by small units

SBI ties up with Flywire to make payments easier for foreign students

Country's largest lender SBI on Tuesday tied up with Flywire for easing payments for Indian students studying abroad. A seamless and fully digital payment experience will be given to students, which is better than the existing complex process, an official statement said. Under the partnership, Flywire's technology will be integrated directly into the bank's platform, offering Indian students an advanced digital checkout experience for their international educational payments.

Bandhan Bank clarifies the NCGTC audit is only on CGFMU loan claims

CGFMU is a government-established trust fund which ensures payment against default for micro loans that are extended to small borrowers

SoftBank veteran Arora becomes a billionaire after another huge payday

Palo Alto Networks handed Arora a $125 million stock and options compensation package when he was hired in 2018

RBI extends payments infrastructure development fund scheme till 2025

As part of the announcement, beneficiaries of the PM Vishwakarma Scheme have been included as merchants under the PIDF scheme

RBI to regulate entities facilitating cross border payment transactions

The Reserve Bank of India on Tuesday said all entities facilitating cross border payment transactions for import and export of goods and services will be directly regulated by it. Such entities will be treated as Payment Aggregator-Cross Border (PA-CB), the central bank said in a circular. "Keeping in view the developments that have taken place in the area of cross-border payments, it has been decided to bring all entities facilitating cross-border payment transactions for import and export of goods and services under direct regulation of the RBI," it said. Currently, all Payment Aggregators (PAs), which facilitate processing of domestic transactions in online mode, are covered within the scope of RBI regulations. Non-banks providing PA-CB services as on the date should have a minimum net worth of Rs 15 crore at the time of submitting application to the RBI for authorisation and a minimum net worth of Rs 25 crore by March 31, 2026, it said. New non-bank PA-CBs (entities which have

More entities get RBI's in-principle nod to operate as payment aggregator

65 entities application returned so far

Cashfree Payments, Global Trade Plaza partners to lift cross-border payment

Exporters will also receive auto-generated foreign inward remittances advice (e-FIRA), the company stated

Rajasthan announces one-time payment of Rs 5,000 for registered gig workers

Rajasthan Chief Minister Ashok Gehlot on Thursday announced a one-time payment of Rs 5,000 for gig workers to purchase helmets, uniforms and other items of daily use when they register with the state government. The announcement will benefit delivery personnel working with companies such as Ola, Uber, Swiggy and Zomato, among others. "The gig workers will get Rs 5,000 as a one-time payment on registration," Gehlot said during a function to release the "Mission 2030" document in Jaipur. He also announced a 90 per cent fare exemption on Rajasthan Roadways buses for those with monthly passes. The government will also set up a ministerial employees directorate to handle all works related to ministry staff -- including promotions, transfers and postings -- in different departments, the chief minister announced.

CBDC can fix cross-border payment problems: RBI Governor Shaktikanta Das

RBI governor flags issues of high cost, low speed, limited access

FSS announces launch of its new payments technology platform 'Blaze'

FSS has made the Blaze platform accessible to customers in India, the Middle East, and Africa, and has plans to introduce it in additional markets in the coming months

Mastercard, Binance to end crypto card partnership from September 22

The Binance cards allow users to make payments in traditional currencies, funded by their cryptocurrency holdings on the exchange

German embassy praises India's UPI, shares video of minister making payment

The German embassy on Sunday described digital infrastructure in India as one of its success stories and shared a footage of its Digital and Transport Minister Volker Wissing using UPI at a vegetable shop here. "One of India's success story is digital infrastructure. UPI enables everybody to make transactions in seconds. Millions of Indians use it," the embassy said on X. It said Germany's Federal Minister for Digital and Transport Volker Wissing was able to experience the simplicity of UPI payments first hand and is very fascinated. Unified Payments Interface (UPI) is an instant payment system.

Cash has no substitute: It is inclusive and the original instant payment

It gives freedom of choice to consumers, cuts across economic status and geographies