Page 16 - Upi Transactions

73% will stop using UPI if transaction fee is charged, reveals survey

Some platforms or merchants are levying a convenience or transaction fee for UPI transactions

Majority of users to stop using UPI if it attracts transaction fee: Report

A majority of people will stop using UPI if a transaction fee is levied on it, according to an online survey by LocalCircles. However, a sizable number of respondents claimed that they have experienced a transaction fee being levied on their UPI payment once or more in the last one year, it added. LocalCircles on Sunday said the survey received over 34,000 responses from citizens in over 364 districts, comprising 67 per cent of male respondents and 33 per cent of women. In August 2022, the Reserve Bank of India (RBI) released a discussion paper proposing a tiered structure charge on UPI payments based on different amount bands. Following the RBI discussion paper, the finance ministry clarified that there was no proposal to levy charges on UPI transactions, LocalCircles said in its report on UPI transaction fees. "Only 23 per cent of UPI users surveyed are willing to bear a transaction fee on payment. 73 per cent of those surveyed indicated that they will stop using UPI if a ...

GST mop-up rises over 12.5% to Rs 1.68 trn, car sales remain strong

The manufacturing sector, too, gathered momentum in February on the back of expansion in new export orders and easing of pricing pressures

UPI transactions decline marginally in February to Rs 18.28 trillion

In volume terms, transactions were seen at 12.10 billion, compared to 12.20 billion in January

Fintechs raise UPI payment charging concerns with FM Nirmala Sitharaman

The MDR on UPI payments has been a longstanding demand from the fintech industry, asserting they don't generate revenue from such transactions

'Ancient country, new ideas': Bill Gates' praise for India in latest trip

Bill Gates is set to meet Prime Minister Narendra Modi and engage with various stakeholders during his India trip, where he will hold discussions on spreading India's innovations around the world

Paytm likely to partner with four banks for enabling UPI transactions

The central bank has asked Paytm Payments Bank, the banking unit of Paytm to wind down its business by March 15, leading to disruption for the popular payment app

MobiKwik's Pocket UPI to allow wallet payments without linking to bank

This latest feature is aimed at creating more security and flexibility during transactions by mitigating risks associated with direct bank transfers

Google Pay SoundPod: Here is everything about Paytm Soundbox alternative

Google Pay SoundPod is an audio device that helps merchants track QR code payments with audio alerts when a payment is received

We will add some Paytm's customers: PhonePe co-founder & CEO Sameer Nigam

Nigam was in conversation with Shradha Sharma, founder and CEO, YourStory at the Mumbai Tech Week 2024

Competitors Google Pay, PhonePe and BHIM go all out for Paytm user base

Players such as Google Pay, PhonePe, and even banks like HDFC and State Bank of India (SBI) are said to be deploying several thousand 'feet on the street' or salesforce to attract merchants

Paytm Payments Bank curbs may have limited impact, shows data

90% of its UPI users have accounts linked with other banks

India built best digital economy, finance infra: Nobel winner Spence

Noting that India is a major economy with the highest potential growth rate right now, Nobel laureate economist A Michael Spence said the country has successfully developed by far the best digital economy and finance architecture in the world. Spence, who was awarded the Nobel prize in Economic Sciences in 2001, shared his views during an interaction with students and faculty at the Bennett University in Greater Noida on Monday. "The major economy with the highest potential growth rate right now is India. India has successfully developed by far the best digital economy and finance architecture in the world. It is open, competitive and delivers services of an inclusive kind to a vast array of territory," the Nobel laureate said, according to a statement issued by the varsity. Spence also pointed out that the world is experiencing a "kind of regime change in the global economy". Tracing the evolution of the global economy after World War II, Spence said that the 70-year-old global ..

UPI payments launched in Sri Lanka, Mauritius to boost economic ties

India's Unified Payment Interface (UPI) services were on Monday rolled out in Sri Lanka and Mauritius during a virtual ceremony attended by Prime Minister Narendra Modi and the top leadership of the two island nations. Mauritian PM Pravind Jugnauth and Sri Lanka's President Ranil Wickremesinghe joined Modi at the virtual ceremony. The launch of the Indian services in Sri Lanka and Mauritius came amid New Delhi's increasing bilateral economic ties with the two countries. The launch enables the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India.

Confusion and concern: Traders brace for impact of Paytm crisis

Some shift to alternatives and shun the platform, others still swear by it

We hope frictionless credit scale up to digital infrastructure: P Vasudevan

In the future, he noted that the central bank aims to include both banks and non-banks gradually into the platform for their loan journey

Volume, value of UPI transactions slip due to downtime with bank servers

The volume and value of transactions on UPI were pegged at 430.42 million and Rs 77,049 crore, respectively, a day before the widespread outage

RBI mulls revoking Paytm Payments Bank licence or superseding board

Action may come once pipeline transactions settled

UPI payments failing amid server outages; NPCI working with banks

Regret inconvenience on UPI connectivity as few of the banks are having some internal technical issues, NPCI said in a statement

UPI transactions reach a record Rs 18.41 trillion in January: NPCI data

According to data shared by the National Payments Corporation of India (NPCI), January numbers were 52 per cent higher in volume compared to the same month last financial year