Page 18 - Upi Transactions

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

PNB introduces CBDC-UPI interoperability for seamless transactions

State-owned Punjab National Bank (PNB) on Tuesday announced the launch of Central Bank Digital Currency (CBDC) with Unified Payments Interface (UPI) interoperability feature in its digital rupee mobile application. This move is in line with the RBI's CBDC pilot project and unleashes a new potential in India's payment ecosystem, PNB said in a statement. PNB customers can now use the PNB digital rupee app to scan the UPI QR code for payment to their merchants or complete a transaction at a merchant outlet, it said. Even if the merchants do not have a CBDC Wallet, PNB digital rupee app users can utilise their CBDC wallets to conduct transactions on the UPI QR of these merchants, it added. The app with this new functionality is currently available for Android users on the Play store and will also be made live for iOS users, it said.

UPI transactions may soon touch 100 billion a month, says NPCI CEO

UPI's 10 billion-per-month transaction volume places it among the fastest-growing payment processing systems in the world

India clocks 10 billion UPI transactions for the first time in a month

In August 2023, the Immediate Payment Service (IMPS) transactions were seen at 473 million until August 30 with a value of Rs 4.93 trillion

PhonePe forays into online stock broking as it expands its services

The platform will charge users an onboarding price of 199 rupees, while there will be no charge for trades of up to 400 rupees, the company said in a statement

A step-by-step approach to CBDC

Why would anybody shift from UPI to CBDC? What are its advantages over UPI?

German embassy praises India's UPI, shares video of minister making payment

The German embassy on Sunday described digital infrastructure in India as one of its success stories and shared a footage of its Digital and Transport Minister Volker Wissing using UPI at a vegetable shop here. "One of India's success story is digital infrastructure. UPI enables everybody to make transactions in seconds. Millions of Indians use it," the embassy said on X. It said Germany's Federal Minister for Digital and Transport Volker Wissing was able to experience the simplicity of UPI payments first hand and is very fascinated. Unified Payments Interface (UPI) is an instant payment system.

India plans to seek its own rating, testing mechanism for DPIs, DPGs

India is working to create collaborations in order to certify, register, test, and benchmark Indian digital public infrastructure (DPIs) and digital public goods (DPGs)