Unified Payments Interface

NPCI directs UPI members to follow new API guidelines to avoid disruptions

For instance, this includes restricting a high number of repeat APIs for the same or older transactions

UPI outages: NPCI, banks working on durable solution to plug gaps

The current challenge stems from the extremely high frequency of transaction status API calls

India planning to bring 300 million new users onto UPI payments platform

The home-grown payments platform has in the past five years transformed how more than 450 million retail consumers pay for everything from holidays to a cup of tea using their smartphones

Jio Finance launches loan against security offering for customers

Customers of Jio Finance can now avail themselves of loans of up to Rs 1 crore, with interest rates starting at 9.99 per cent, tailored to their risk profiles

The UPI of 2016 and today are completely different: NPCI MD & CEO Asbe

The primary focus remains on growing UPI, which has 10X growth potential. Currently, 400 to 450 million users use it monthly, it has the potential to grow to over 1 billion, said Dilip Asbe, MD, NPCI

PoS transformation in progress, but business model needs a rethink

The real-time confirmation builds efficiency and trust, keeping operations smooth and allowing the merchant to focus on business

Small transactions drive 7.8% drop in UPI payments' average ticket size

The ticket size for peer-to-peer UPI payments was recorded at Rs 2,666 in H2 2024

UPI outage due to financial year-end transaction rush at banks, says NPCI

Transactions volumes declined 7 per cent on March 26 after the UPI network had reported an outage

Tata Neu HDFC Bank cobranded card surpasses 2 million issuances

Grocery, fuel and utilities are among the top spend categories for the credit card

Prosus-backed fintech firm PayU buys 43.5% stake in Mindgate Solutions

The deal will allow PayU to expand into the real-time payment processing market, including the Unified Payments Interface (UPI)

UPI incentive cut worries industry again; calls for MDR grow louder

Industry's concerns surfaced after the government approved ₹1,500 crore in a scheme for the promotion of low-value BHIM-UPI transactions when made from peers to merchants

Uttar Pradesh govt saves Rs 10,000 cr annually via direct benefit transfer

Speaking in the UP Vidhan Sabha, Adityanath termed DBT a "decisive blow against corruption"

UPI transactions drop 5% in volume, 6.5% in value due to shorter February

Number of daily transactions for February stood at 14.46 million, up from 14.33 million in January, which translated to a value of Rs 20,110 crore in February and Rs 19,562 crore in January

16% of card spends happen on RuPay, half of it on credit via UPI: NPCI

RuPay is India's indigenous payment network run on NPCI's infrastructure

Flipkart-backed super.money acquires checkout financing platform BharatX

The company plans to introduce checkout financing for direct-to-consumer (D2C) and e-commerce brands

Razorpay elevates Haria to role of CPO as it eyes Southeast Asia expansion

The appointment comes at a time when the company is planning to expand in Southeast Asia and focus on expanding Unified Payments Interface (UPI) and Razorpay POS

NPCI chief advocates for stronger legal systems to deter cyber frauds

The apex payments body head pressed on the need for economic incentivisation for firms processing UPI

UPI transactions continue upward trajectory, hit all-time high in Dec 2024

For the full calendar year 2024, UPI-enabled platforms handled approximately 172 billion transactions, reflecting a 46 per cent annual increase

UPI transactions surge to record 16.73 bn in Dec; value at Rs 23.25 trn

Interestingly, for the entire 2024, the volume increased by 46 per cent to around 172 billion transactions, compared to 118 billion in 2023

RBI proposes lookup facility for NEFT, RTGS; banks to comply by April 1

This facility will allow users to view and verify the name of the beneficiary before initiating a transaction, similar to the existing feature on India's real-time payment systems