Page 12 - Upi Transactions

Govt taking initiatives to expand UPI's global reach: MoS Chaudhary in RS

Minister of State for Finance Pankaj Chaudhary on Tuesday said the government and RBI have been taking various initiatives for expanding the global reach of UPI, which is currently available in seven nations. RBI's Payments Vision Document 2025 has also outlined expanding the global outreach of UPI and RuPay cards as one of the key objectives under the internationalisation pillar, he said in a written reply in the Rajya Sabha. "The government along with RBI has been taking various initiatives from time to time for expanding the global outreach of UPI. RBI has been collaborating with various relevant stakeholders (central banks of various countries, Bank of International Settlements, World Bank and other institutions) for expanding the outreach of UPI," he said. With these concerted efforts, he said, UPI is live in seven countries--Bhutan, Singapore, the UAE, France, Mauritius, Sri Lanka and Nepal. Replying to another question, Chaudhary said, the government, Reserve Bank of India .

UPI transactions jump 36% to Rs 60 trn in Apr-Jun qtr: MoS Finance

UPI transactions in the first three months of the current fiscal have grown over 36 per cent to Rs 60 lakh crore, Parliament was informed on Monday. As per the details of UPI transactions shared by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha, 4,122 crore UPI transactions worth Rs 60 lakh crore took place between April and June in 2024-25. In the April-June period, 2,762 crore UPI transactions took place, having a value of Rs 44 lakh crore. For the full fiscal 2023-24, 13,113 crore UPI transactions were made with a value of Rs 200 lakh crore. In FY23, a total of 8,371 crore UPI transactions took place with a value of Rs 139 lakh crore, while in FY22, there were 4,596 crore transactions involving Rs 84 lakh crore. Chaudhary further said that a facility of cardless cash deposits on an inter-operable basis has been extended through UPI. Presently, this facility has been made available by a select few banks. To ensure the safety and security of cash deposits throug

Gaining momentum: UPI transactions top Rs 20 trn for third straight month

NPCI's data shows that the average daily transaction count on UPI in July was 466 million, amounting to Rs 66,590 crore

Paytm sees no impact of reduced UPI incentives on path to profitability

Company announced launch of first NFC card soundbox

JioBharat J1 4G with pre-installed Jio apps for UPI, TV, and more launched

The JioBharat J1 4G is available on Amazon India at Rs 1,799. The feature phone is offered in sole dark grey colour

Credit on ONDC and OCEN awaits their 'UPI moment' as deployment begins

A lot of interest in joining an open network also boils down to how operational costs can be brought down in lending businesses. NBFCs and fintech could drive credit innovation on open networks

PhonePe, Google Pay lose their UPI transactions share to new entrants

Operated by state-backed NPCI, UPI is a system that allows users to make instant money transfers by linking banks with fintech apps such as Paytm, PhonePe and Google Pay

PhonePe retains top position on UPI in June, Paytm's market share slips

Nearly one out of two transactions on the National Payments Corporation of India (NPCI)-run UPI are processed on fintech major PhonePe's platform

Cashless travel made easy: UPI One World available to all foreign tourists

International travellers can use the UPI One World app to make payments at merchant locations by simply scanning the QR codes.

Economic Survey calls for identifying regulatory gaps in fintech sector

Sector move towards data-based lending instead of 'judgement-based lending', it says

Paytm Q1: Loss widens to Rs 838.9 cr, total income declines 33.5%

Hope to deliver at least one profitable quarter this year, says Sharma

Indians travelling to Qatar will now be able to use UPI for payments

The move will allow UPI payments in Qatar via the QNB merchant network, benefiting Indian travellers visiting and transiting through the country

140 million HDFC Bank, Axis customers may face service interruption

UPI services will be unavailable for customers from 3:00 AM to 3:45 AM and from 9:30 AM to 12:45 PM on July 13, 2024

India's UPI goes live at Galeries Lafayette, eyes Paris Olympics boost

Ambassador of India to France and Principality of Monaco Jawed Ashraf launched UPI by live use

Sikkim govt asks taxi drivers to add QR code as additional payment option

All taxi drivers in Sikkim have been directed to compulsorily provide QR codes as an additional payment option to the passengers by July 15, a senior official said on Wednesday. The decision was taken in view of several complaints from the public over providing accurate fares to drivers due to the non-availability change either with the driver or the passenger, resulting in arguments and traffic jams, he said. "All drivers are to compulsorily provide the QR code by July 15, 2024, (as an additional payment option) and affix one on the front windscreen of the vehicle facing the passenger and another at the rear seat of the vehicle," the Transport Commissioner-cum-Secretary Raj Yadav said in a circular. The mandatory display of the QR code on the front and rear side of the taxis was ordered to address this issue of haggling between the taxi drivers and commuters on payment issues, Yadav said, adding that a meeting was held recently with the stakeholders/local taxi associations, where i

Growth in remittances to India may halve in 2024, says World Bank

India received remittances worth $120 billion in 2023, supported by strong labour markets in the United States and Europe

PayU's LazyPay partners with Blinkit to offer customers with credit line

The latest partnership will provide the Zomato-led quick commerce platform's customers with a credit line, at no additional cost to merchants

India, Cambodia discuss investment treaty, UPI collab: Commerce ministry

India and South East Asian nation Cambodia are negotiating collaboration in UPI-based digital payment to promote trade and tourism, the commerce ministry said on Thursday. Both sides also deliberated upon diversification of the trade basket by identifying new products, bilateral investment treaty, recognition of Indian pharmacopoeia and collaboration in the pharma sector. These issues among others were discussed during the second meeting of the India-Cambodia Joint Working Group on Trade and Investment (JWGTI) here on Wednesday. Pharmacopoeia is a set of standards and quality specifications for ingredients, preparation and dosage forms of medicines manufactured, sold, consumed and exported in a country. Indian Pharmacopoeia Commission (IPC) is an autonomous institution under the Ministry of Health and Family Welfare which sets standards for all drugs that are manufactured, sold and consumed in India. "The meeting discussed the progress of the ongoing efforts for collaboration in .

Patym hits 10% upper circuit on heavy volumes post RBI policy; here's why

To encourage wider adoption of UPI Lite, the RBI today proposed to bring it under the e-mandate framework.

UPI transactions clock new record in May at Rs 20.45 trillion, shows data

Data shared by the National Payments Corporation of India (NPCI) on Saturday said that the May figures were 49 per cent up in volume and 39 per cent up in value compared to the same month in 2023