Page 13 - Upi Transactions

JioFin launches beta version of JioFinance app, to offer UPI, digi banking

The app's future plans include broadening the loan offerings, initially focusing on mutual fund loans and eventually branching out to include home loans

HDFC bank to stop SMS alerts for UPI payments up to Rs 100: Check details

Customers will continue receiving email for all UPI transactions, says lender

HDFC Bank to stop SMS alerts for small UPI payments soon; details here

The private lender notified its customers via email and SMS that they will continue to receive email alerts for all UPI transactions

Now, Adani Group plans to enter India's digital payment, e-commerce spaces

The Adani Group plans to offer new services through its consumer app, Adani One, which was launched in late 2022. The app currently offers travel services such as flight and hotel bookings

BharatPe, PhonePe amicably settle trademark disputes over 'Pe' suffix

The settlement concludes five-year-long legal disputes across multiple courts

Sales of Apple products, cars in India see surge in cash transactions

Around 7-9% of Apple's sales in its two company-owned stores were cash transactions, compared to less than 1 per cent or even none at all observed in its stores in the US or Europe

PhonePe partners LankaPay, enables UPI payments for travelers in Sri Lanka

PhonePe on Wednesday announced a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. At an event to mark the collaboration, PhonePe said its app users travelling to Sri Lanka can make payments using UPI across LankaPay QR merchants. The transactions will be facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network. Users can scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. The amount will be debited in INR, showing the currency exchange rate. PhonePe's CEO, International Payments, Ritesh Pai, said the collaboration with LankaPay offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while travelling and paying across LankaQR merchant points. "We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and

NPCI may defer market cap deadline for UPI payment platforms by 2 years

Eight months left for the implementation deadline, the National Payments Corporation of India (NCPI) may be favouring growth over concerns about market domination

RBI meets stakeholders to discuss strategies to widen scope, reach of UPI

UPI transaction volumes rose 54% in March, as compared to 60% a year ago

NPCI likely to extend UPI market cap deadline for payment platforms

Paytm's UPI market share plummets; Google Pay and PhonePe continue to dominate digital payments in India

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