Page 9 - Unified Payments Interface

Fintech for every merchant

Fintech firms have created an ecosystem of trust and supportiveness for merchants, by helping them with creative solutions and innovative products

Central banks and the rule of law

In a constitutional democracy, the RBI is bound by the law to focus on its core mandate

India should take caution in introducing CBDC, says NCAER report

The report says that while a CBDC would have more penetration, the reach of Unified Payments Interface is widespread.

Decoded: How ONDC plans to level e-commerce playing field in India

The open network concept will not be restricted to the retail sector but will extend to mobility, food delivery, travel, among others

Payment gateways avoid powering crypto exchanges given RBI reservations

Recently, NPCI had clarified that it is not aware of any crypto exchanges using UPI after Coinbase, America's largest crypto exchange said it has tied up with UPI

Card-less cash withdrawals at ATMs may burden banks with additional costs

Of the tad over 250,000 ATMs in India, nearly 35,000, or 14.58 per cent, are recyclers

UPI most preferred payment mode among consumers with 56% share: study

That said, cards are still dominating the merchant acceptance payments ecosystem, with 26% market share by volume, 53% by value

UPI transactions likely to touch Rs 100 trillion soon: Shaktikanta Das

RBI launches UPI for 400 mn feature phone users to widen digital payment reach

Nepal to become first country to deploy India's UPI platform

Also, it will enable real-time cross-border P2P remittances between Nepal and India. Nepal becomes the first country outside India to adopt UPI

India's next UPI moment can be Open Network Digital Commerce: Piyush Goyal

ONDC will help the common man get access-new age technology at affordable costs

UPI AutoPay e-mandates jump 32% to 6 million in December, shows data

The AutoPay platform of UPI is also being touted as the pillar for its next phase of growth

UPI faced downtime for several hours on Sunday due to technical glitch

Sources said, UPI was operational after 5 PM on Sunday. There were multiple level hardware failures which is why UPI faced downtime

Welcome financial inclusion

UPI upgrade can bring mobility to household savings

RBI and Singapore central bank to link payment systems by July 2022

The RBI and MAS hope to complete the linkage by July 2022 "on a reciprocal basis without a need (for users) to get onboarded onto the other payment system".

India and Singapore to link their digital payment systems, says RBI

The linkage will be reciprocal and won't need users to get "onboarded" onto either payment system.

Sebi streamlines IPO application process, issues new guidelines

The market regulator identified key issues plaguing the UPI payment process and issued operational guidelines to address them

Both kinds of currencies will evolve

Cryptos will develop frameworks for increased privacy, and checks could generate reduced intrusions into uses of conventional money

The zero MDR has affected the PoS business: Worldline's Deepak Chandnani

India has some 5.2 million PoS units, but a country of our size needs more, DEEPAK CHANDNANI, managing director, Worldline (South Asia and the Middle East), tells Raghu Mohan

UPI handled record 2.23 bn transactions, worth Rs 4 trn, in December

Payments system breached the 2-billion mark in volumes for the third time in December

Google, Walmart hit by India's move to limit some digital payments players

More than 2.07 billion UPI transactions were processed in October, according to NPCI, with Walmart's PhonePe accounting for just over 40% of those transactions