Unified Payments Interface

Why India's Unified Payments Interface needs reform, and not US pressure

The lesson for New Delhi: Keep peer-to-peer and mom-and-pop transactions free, but let large commercial platforms pay, say, 0.5 per cent

Free for users, costly to run: The economics behind India's UPI system

UPI remains free for consumers and merchants, but the cost of running India's digital payment infrastructure has revived the debate over MDR, subsidies and platform fees

Is free UPI viable? Pricing vital for digital public infra's future

The debate over UPI pricing is shifting as zero-MDR strains the ecosystem, raising questions over who should bear costs and whether a calibrated MDR can sustain digital public infrastructure

UPI to remain free for consumers, govt clarifies proposed MDR rules

The government reiterated that UPI will remain free for citizens, with no charges on everyday transactions for consumers

Sustained investment needed to run UPI reliably: Payments Council of India

The industry body said consumers and small merchants would remain protected from charges, while any merchant service fees would be commercial arrangements with payment providers

Digital payments need a sustainable funding model for future growth

The Lok Sabha's tax amendment Bill opens the door for future UPI merchant charges, reigniting the debate on funding India's fast-growing digital payments ecosystem

Offline payment push: Innovation must include stronger consumer protection

NPCI's offline NFC-based UPI can expand digital payments and financial inclusion, but robust security, fraud safeguards and strong consumer protection must underpin its rollout

Soon, tap & pay offline via UPI: To work where internet isn't available

This opens up use-cases such as payments on flights and underground trains

Banks live on UPI rise nearly fivefold to 731 between 2020 and 2026

UPI added 576 banks over six years as digital payments adoption widened, helping the platform process 22.71 billion transactions in June 2026

611 million UPI transactions authenticated using biometrics in June

More than 611 million UPI transactions worth Rs 25,416 crore were authenticated using biometrics in June, reflecting rising adoption of fingerprint and facial recognition

RBI aligns prudential norms for UPI-linked credit lines with base loans

Central bank says prudential treatment of payment-linked credit facilities will depend on the nature of the underlying loan, irrespective of delivery mode

India expands UPI footprint with launch at France's Galeries Lafayette

India on Tuesday launched Unified Payments Interface (UPI) at Galeries Lafayette, a famous department store in Nice, France. Launching the UPI, Commerce and Industry Minister Piyush Goyal said it will further strengthen the economic and technological ties between India and France, reflecting the growing depth and ambition of our strategic partnership. In 2024, UPI was launched at the Eiffel Tower in Paris. "Delighted to launch UPI at the iconic Galeries Lafayette, Nice Massena, France. Bringing India's world-class digital payments platform to one of France's premier retail destinations marks another significant step in UPI's global expansion. With the participation of Lyra Collect and NIPL, this initiative showcases India's ability to deliver trusted, seamless, and interoperable digital solutions at scale," he said in a social media post. Galeries Lafayette Nice Massena is the Nice branch of the famous French department store chain Galeries Lafayette. It is located in the heart of

Invisible crisis: AI-powered cyber-attacks can endanger financial stability

The IMF warns that AI-powered cyberattacks could threaten global financial stability, exposing vulnerabilities in digital payment systems and banking infrastructure

UPI changed how India pays; it can drive the future of borrowing

Scale in digital public infra can now support broader economic outcomes, with UPI transactions offering a timely, contextual view

UPI users resist fees, 75% say they will quit if charged: Report

A decade after its launch, India's flagship payments system faced a moment of pushback, with users signalling they would abandon UPI if charges were introduced

RBI's lagged credit proposal may raise costs, need switch changes

RBI's proposal for lagged credits in digital payments could require switch-level changes, raising costs for UPI ecosystem and banks, industry sources say

NPCI signals identity reboot: Looks to build brand recall beyond platforms

NPCI plans a major branding revamp to strengthen its identity as a technology-led digital payments infrastructure provider and boost visibility at home and abroad

UPI volumes dip in February on fewer days even as daily averages rise

UPI transactions fell month-on-month in February due to the shorter month, but daily volumes and values increased, reflecting steady digital payment adoption across channels

AgriStack could transform farming, but execution will decide its fate

AgriStack, pitched as the "next UPI", could transform farm subsidies, tenant inclusion and soil health - but only if farmer, land and crop data are accurate and trusted

AI applications to drive cash flows in India: 3one4 Capital's Siddarth Pai

India's AI opportunity lies in applications solving real-world problems, not costly foundational models, says 3one4 Capital's Siddarth Pai