Page 2 - Unified Payment Interface

RapidX fares: 17 km journey to cost between Rs 50-100 in standard coach

The minimum fare for the five standard coaches on the priority section will be Rs 20 and the maximum fare is set at Rs 50; for premium coach, the minimum fare will be Rs 40, and the maximum is Rs 100

Delhi-Meerut RRTS: PM Modi to inaugurate first RapidX project on October 20

The priority section of RRTS or RapidX will open between Duhai and Sahibabad, covering a total of 17 km and will include five stations, namely Sahibabad, Ghaziabad, Guldhar, Duhai, and Duhai Depot

UPI growth flat in September, but over 10 billion payments processed

According to data from NPCI, this represented a 56 per cent rise in volume and a 41 per cent increase in value compared to September of the previous year. In September 2022

Digital India on display: G20 guests will experience UPI, ONDC, Digilocker

G20 India app has been developed to provide information about the event calendar, give a virtual tour of the summit venue

UP, Gujarat, West Bengal contribute to more than 30% UPI frauds in India

NPCI takes only an average of 24 hours to respond to frauds

India has potential to do 100 billion UPI transactions a month: NPCI CEO

India has the potential to do 100 billion Unified Payments Interface (UPI) transactions a month, a top official from the National Payments Corporation of India said on Tuesday. This would be a 10-time growth over the 10 billion transactions achieved by the 2016-launched platform in August. Dilip Asbe, chief executive officer and managing director of NPCI, said there are 350 million UPI users at present and pegged the growth opportunity in merchants and users at 3 times more. "...if you take the combined effect, we have a 10x opportunity from where we stand," Asbe said speaking at the Global Fintech Fest here. He declined to specify a date by which NPCI aims to reach there, but said that by 2030, India will witness 2 billion transactions a day. At present, global giant Visa processes 22.5 billion transactions a month, while its rival MasterCard does over 11 billion transactions. Asbe also said that credit card usage can witness a ten-time growth if the industry shifts to the emerg

UPI transactions at record high in April, touch Rs 14.07 trn

Some 1 bn transactions worth around Rs 1.37 trn happened during the last three days of April

UPI charges: Here is how interchange fees on wallet payments will work

From April 1, the platforms offering prepaid instruments like wallets and gift cards will have to pay interchange fees on transactions above Rs 2,000

Modi, Singapore PM to witness launch of cross-border payments interface

The launch will be done by RBI Governor Shaktikanta Das and Ravi Menon, managing director of Monetary Authority of Singapore

UPI, Singapore's PayNow integration anytime soon: Official at G20 meet

The Monetary Authority of Singapore on Monday said integration of India's Unified Payment Interface (UPI) and equivalent network in Singapore, known as PayNow, will begin anytime soon, which in turn will reduce the remittance cost by 10 per cent. There will be interoperability of the two digital payment networks, allowing seamless remittances between the two countries at a highly competitive rate. "Integration of UPI and Singapore's PayNow with India is ready and waiting for launch," Singapore central bank's chief fintech officer Sopnendu Mohanty said at the G20 meeting on financial inclusion at Kolkata. "As of now, remittance to India is at least 1 billion Singapore Dollars and India to Singapore will be 200-300 million Singapore Dollars," Mohanty said. Pramod Verma, chief architect of Aadhaar & India Stack said similar interoperability will also happen with Dubai and a few other countries soon. He said this integration will also help Indian tourists pay in Singapore using ...

Union Minister Ashwini Vaishnaw unveils digital innovation alliance for G20

The minister also launched "stay safe online" campaign, with the aim of digitally transforming the global economy in a secure cyber environment

WhatsApp Pay's India head steps down amid series of top-level departures

Vinay Choletti leaving as Meta-owned messaging platform ramps up investments in its payment service in India

GST Council's fitment panel clarifies tax levy on SUVs, UPI transactions

Defers the classification of crypto assets under GST regime

Top headlines: Twitter blue check chaos, G20 Delhi summit, and more

Business Standard brings you the top headlines this hour

This company promises to let feature phone users make UPI transactions

The Mumbai-based fintech company says by using its services, feature phone users can access their bank accounts, transfer funds, and make bill payments by giving a missed call

RuPay credit card UPI to succeed if small transactions under 10%: Asbe

'RuPay credit card UPI to see good traction if small merchant transaction stays within 10%'

UPI Lite: A payment method that allows you to pay without PIN or internet

The upper limit for payments has been set at Rs 200; wallet balance cannot exceed Rs 2,000 at any point

Dilip Asbe reappointed MD & CEO of NPCI for five years at firm's AGM

Asbe took over as MD&CEO of NPCI in Jan 2018. Prior to that, he was the firm's COO for close to 5 years

Regulating Digital India

Discriminatory algorithms will be the most complex of challenges for regulators

TerraPay, NPCI collaborate for merchant payments via UPI-enabled QR codes

/ -- In a strategic move to further strengthen its cross-border payment solutions, TerraPay, a leading global payments infrastructure group today announced its partnership with NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India (NPCI). This association with NIPL will allow Indian customers and merchants in India with an active Unified Payments Interface Id (UPI Id) to make and accept cross-border payments seamlessly by leveraging TerraPay's agile infrastructure and the UPI network. In this intended collaboration, both companies will work together to further empower Indian customers with active UPI Ids (350 million bank accounts) to be able to transact at QR locations enabled by TerraPay, globally. Together, both companies intend to fortify UPI payments & QR solutions to extract their maximum potential. The partnership will further increase the use of UPI and QR for cross-border merchant payments. This initiative will speed ..