Page 17 - Upi Transactions

India's UPI transactions scale new high in Oct; clock Rs 17.2 trn in value

According to data shared by the NPCI, this is 56 per cent higher in volume terms compared to 7.30 billion in October 2022 and 42 per cent higher in value terms compared to Rs 12.12 trillion last year

Support to regulations difference between us and tech firms: Sameer Nigam

Nigam said that being an early mover in the adoption of the United Payments Interface also played in their favour

Why you should link your credit card with UPI? Check all benefits

RBI allowed the integration of Unified Payment Interface (UPI) with credit cards to leverage the several benefits of credit card enthusiasts. Here's why you should use credit card with UPI

Here are details of new IMPS money transfer rule: How will it work?

Users will soon be able to transfer money up to Rs 5 lakh through IMPS by deploying the mobile number and bank account name of the receiver

India's UPI system leading in cross-border payment: US treasury official

India's Unified Payments Interface system (UPI) stands out in advancing bilateral links with other countries, including Singapore and the United Arab Emirates, a US treasury official said. In a speech at Harvard Law School on Wednesday, Jay Shambaugh, Under Secretary of US Treasury for International Affairs, spoke on new technologies and cross-border payments. He said a set of ASEAN countries have the greater ambition of interlinking their fast payment systems multilaterally. Shambaugh said several initiatives are already underway to upgrade legacy payment systems. He said payment service providers, system operators, banks, and FMIs are investing in operational improvements to make their systems faster, cheaper, more transparent, more accessible, and more efficient for individual or financial sector users. "For example, institutions around the world are presently at different stages of implementing the ISO 20022 messaging standard. This standard is more data-rich than its precursor

PhonePe revenue soars 77% in FY23 on booming digital payments market

The company's loss before interest, taxes, depreciation and amortisation on a standalone basis widened to 17.55 billion rupees ($210.8 million) from 16.12 billion rupees a year ago

Centre mulls stricter UPI transfer regulations to curb illegal betting

The Centre has found 114 illegal betting and gambling platforms operating in the country. Such platforms are taking in UPI payments through proxy bank accounts

Retail CBDC adoption: Long winding road to 1 million transactions

Central Bank Digital Currency (CBDC) is a digital form of currency notes issued by a central bank. RBI broadly defines e-Re as the legal tender issued by a central bank in digital form

Here's how the Indian banks are making $64 billion from a freebie

Since April, customers dipping into their mobile-phone wallets to settle bills of more than Rs 2,000 ($24) have to bear a maximum

NPCI International signs agreement with Al Etihad Payments of UAE

NPCI International Payments Ltd, the international arm of the National Payment Corporation of India, on Thursday inked an agreement with Al Etihad Payments of UAE to provide real-time and cost-effective cross-border remittances for the users of both countries. It would be as seamless as a domestic transaction, using a beneficiary identifier (mobile number VPA), according to the agreement. Tangible benefits of the agreement include the availability of real-time and cost-effective cross-border remittances for the users of both countries. This would also enhance the transparency for users through an upfront display of remittance amounts in both currencies with applicable charges. The linkage of card switches would enable the cardholders to use their domestic cards (without the need to have global cards issued) in each other's jurisdiction on a reciprocal basis on ATMs, PoS terminals and e-comm transactions. Further, the linkage of messaging platforms would reduce dependency on ...

UPI growth flat in September, but over 10 billion payments processed

According to data from NPCI, this represented a 56 per cent rise in volume and a 41 per cent increase in value compared to September of the previous year. In September 2022

P2M transactions to make 75% of all UPI transactions by 2025: Report

The average ticket size of UPI in the first six months of 2023 was 10% lower than the same period last year showing its growing penetration and increasing adoption of small payments

Avg ticket size on UPI dips 10%, rises 22.6% on cards in H12023: Report

The ATS of P2M transactions dipped 21 per cent from Rs 839 in H1 2022 to Rs 659 in H1 2023

Ebanx to integrate India's UPI payments later this year, US IPO in works

Since its founding in 2012, Curitiba-based Ebanx has focused on cross-border transactions for clients like Spotify Technology SA, Airbnb Inc. and Alibaba Group Holding Ltd

Want to UPI now and pay later? Here's how to do UPI with less balance

The RBI has recently enabled transfers from pre-sanctioned credit lines at banks through the UPI network

Cashfree Payments launches one-step UPI payment solution for businesses

The one-step UPI payment solution has been created in partnership with NPCI and Axis Bank, ensuring complete security and compliance

Debit card usage slow for three years and UPI transactions up 428%

In August, UPI transactions hit 10 billion for the first time in a month. Monthly UPI payments are clocking more than Rs 15 trillion

NPCI launches voice-enabled UPI payments, other features; Check details

The launch of the new products comes a day after NPCI chief Dilip Asbe said at a fintech event that UPI had the potential to reach a couple of billion transactions a day by 2030

UP, Gujarat, West Bengal contribute to more than 30% UPI frauds in India

NPCI takes only an average of 24 hours to respond to frauds

Amazon Pay registers double digit growth: Vice-President Mahendra Nerurkar

Amazon Pay, which is the sixth largest player in the payments segment, had a total volume transaction of 57.6 million for the month of July 2023