Page 13 - Upi Transactions

Paytm's UPI transactions fall for 3rd straight mth, market share contracts

However, the Noida-based company has continued to retain its spot as the third largest player in the ecosystem because other players are considerably smaller in comparison to the fintech major

UPI transactions dip marginally in April to Rs 19.64 trn; grow Y-o-Y

Fasting, IMPS and Apes transactions decline too in the month

UPI credit line: NPCI may go easy on interchange fee for transactions

At present, there is no interchange fee defined by the NPCI for the credit line on Unified Payments Interface (UPI) service

E-commerce market to hit $325 billion by 2030, rural India to lead growth

Invest India forecasts India's e-commerce to soar to $325 billion by 2030, fueled by 500 million shoppers and a robust, low-cost internet penetration

Razorpay forays into UPI infrastructure space, offers UPI Switch

Razorpay plans to offer the service to more banks in the future, the company's chief executive officer (CEO), Harshil Mathur said

Paytm finishes merchant migration to new UPI ids: Here's how to activate it

Paytm is now enabled to offer UPI services through partners such as Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank

Industry keenly awaiting implementation of 30% UPI market share cap by NPCI

With extended deadline for 30 per cent UPI market ceiling by NPCI approaching, industry players are keenly awaiting the implementation and measures to achieve the cap from January 1. The National Payments Corporation of India (NPCI) in December 2022 extended the deadline for third-party UPI players to meet its 30 per cent volume cap in digital payment transactions by two years to end December 2024. Presently, third-party app providers (TPAP) like Google Pay and Walmart's PhonePe have a majority 85 per cent share in UPI-based transactions. NPCI runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants' end while making purchases. According to sources, NPCI would spell out ways to implement the 30 per cent UPI market ceiling in a bid to minimise concentration risk. One option would be to stop on-boarding of new customers for those who have higher than 30 per cent market shares in UPI transaction, sources said, adding it can be done in a phase

NPCI to review by end of year decision on 30% UPI market share cap

December 2024 deadline for implement market cap remains unchanged, say sources

PhonePe, Google Pay creating a duopoly in India's UPI space? NPCI to check

Google Pay and PhonePe, together account for 86% of UPI transactions by volume in India and are also expanding to offer UPI services abroad

India's UPI transactions way more than US digital payments, says Jaishankar

External Affairs Minister (EAM) S Jaishankar said that India does transactions worth Rs 120 crore in a month

RBI to allow third-party apps for UPI payments through PPI wallets

Cash deposit facility in banks through UPI soon

Govt to broaden e-rupee distribution beyond banks to boost retail use: RBI

It has now proposed that non-bank payment system operators, which include third-party payment app providers like PhonePe, Google Pay and Paytm, offer the e-rupee through CBDC wallets

UPI's new feature: Soon, you can deposit cash at ATMs through UPI, says RBI

In a significant decision, the Reserve Bank of India (RBI) on Friday said it will soon facilitate cash deposit facilities in banks through the use of the popular UPI

How India spends: UPI reigns supreme, credit cards see 2nd-highest growth

An interesting finding is the decline in the average ticket size (ATS) for UPI transactions. This dropped by 8 per cent to Rs 1515 from Rs 1648 in the year-ago period,

Singapore Tourism Board, PhonePe sign MoU to boost UPI for Indian tourists

The collaboration with the tourism board and the Bengaluru-based company builds upon the existing Unified Payments Interface (UPI) linkage between India and Singapore

In a first, yearly transactions through UPI cross 100 billion in FY24

The year also saw a record value of Rs 199.89 trillion, compared to Rs 139.1 trillion. In February 2024, transactions stood at 12.10 billion and Rs 18.28 trillion, respectively

NBBL to begin work on net banking interoperability from April: Report

The RBI had earlier approved an interoperable system saying it will standardise settlement cycles for merchants, improve customer grievance mechanism

Cashfree Payments launches product solution to cut fraudulent transactions

Cashfree's 'RiskShield' enables customers to add limits on the frequency and cumulative sum of transactions that an individual customer is permitted to pay on a periodic basis

Explained: How to make payments using credit on UPI

As a customer, you have the option to use a pre-approved credit limit at the point of sale, integrated into the UPI platform

YES Bank, Axis Bank go live as payment service providers for Paytm

YES Bank has gone live as a PSP bank with a closed group of users with the @ptyes handle. Similarly, Axis Bank is live with a closed group of users with the @ptaxis handle