Page 23 - Upi Transactions

PM Narendra Modi lauds record 6 billion UPI transactions in July

Prime Minister Narendra Modi has lauded the outstanding accomplishment of 6 billion UPI transactions in July, the highest ever since 2016.In a response to a tweet by Union Finance Minister Nirmala Sitharaman on Tuesday, the Prime Minister said, "This is an outstanding accomplishment. It indicates the collective resolve of the people of India to embrace new technologies and make the economy cleaner. Digital payments were particularly helpful during the COVID-19 pandemic."Unified Payments Interface (UPI) clocked over 6 billion transactions in July: the highest ever by India's flagship digital payments platform since its inception in 2016.UPI reported 6.28 billion transactions amounting to Rs 10.62 trillion, according to data released by the National Payments Corporation of India (NPCI), which operates the platform. Month-on-month, the volume of transactions was up 7.16 per cent and value increased 4.76 per cent. Year-on-year (YoY), the volume of transactions nearly doubled while value ..

UPI records 6 billion transactions in July, highest ever since 2016

UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch

Explained: How 2% MDR on RuPay-UPI may affect credit card industry

According to analysts, SBI Card and Paytm stand to gain the most if RBI agrees to levy 2% merchant discount rate (MDR) on RuPay-based credit cards linked to UPI

Will UPI on credit cards take off?

The RBI has allowed the linking of RuPay credit cards with UPI. But it will also carry a merchant fee. Will UPI on credit cards take off? Or the merchant fee will spoil the party? Let's find out

RuPay credit card-UPI linkage to be operational in 2 months, says NPCI CEO

NPCI will come up with the guidelines in consultation with the ecosystem. It will send a formal proposal to the RBI, and after the apex bank's nod, it will be operationalised.

Alternative to SWIFT: NPCI plans to take the UPI system to 32 million NRIs

Indians overseas remitted $87 billion last year, the biggest inflow for any country tracked by the World Bank

UPI transactions remain above Rs 10 trillion in June, shows NPCI data

However, it was down by nearly 3 per cent from the previous month

India saw 9.36 bn transactions worth Rs 10.2 trn in Q1 2022, UPI leads

India saw 9.36 billion transactions amounting to Rs 10.25 trillion in the first quarter (January-March period) via various payment modes led by UPI, a new report showed

Sebi gives UPI payment option to invest in public issues of REITs, InvITs

The capital markets regulator in January 2019 laid down the process for payment for applications in the public issue of units of these new investment instruments through the facility of ASBA.

RBI increases limit of e-mandates for transactions up to Rs 15,000

Reserve Bank of India has, over the past decade, put in place various safety and security measures for card payments, including the requirement of AFA, especially for 'card-not-present' transactions

Credit card linkage to UPI: Uncertainty over pricing leaves players in dark

There is no clarity on whether linking to UPI facility will be extended to credit cards of other card networks, such as Visa, Mastercard, American Express, etc

Top headlines: Credit cards to be linked to UPI, rate hike to push up costs

The Reserve Bank of India (RBI) on Wednesday allowed linking of credit cards to Unified Payments Interface (UPI)

RBI allows credit cards to be linked with UPI platform; to start with RuPay

At the RBI policy announcement, Governor Das said that the new arrangement is expected to provide more avenues and convenience to the customers in making payments through the UPI platform

Top crypto exchange Coinbase freezes hiring, revokes accepted offers

The company also revoked accepted offers from some candidates who haven't joined it yet

UPI processed nearly 6 billion transactions worth Rs 10 trillion in May

NPCI sets its eyes on processing a billion UPI transactions a day on its platform within the next 3-5 years

'Informal pressure' from RBI forced us to halt UPI payments: Coinbase CEO

The US-based and Nasdaq-listed crypto exchange had halted payments via unified payments interface mode on its app in India last month

UPI hits record high in April with 5.58 bn transactions worth Rs 9.83 trn

Value of transactions doubled on YoY basis

What is UPI123Pay?

Transactions through UPI are registering a rapid growth in India. And RBI's initiative to introduce it in feature phones is set to take it to another level. Watch our next report to know why

TMS Ep158: Future Group deal collapse, cinema, ICICI beats HDFC, UPI123Pay

What does the Future deal collapse mean for Amazon and Reliance? Will South Indian cinema give Bollywood a run for its money? Can ICICI Bank dethrone HDFC Bank? What is UPI123Pay? All answers here

Coinbase halts UPI payments for crypto within three days of India launch

The company, however, declined to comment on the matter