Page 24 - Upi Transactions

Should there be charges on UPI fund transfers?

Will you be comfortable paying for your daily UPI transactions? This is one of the many questions that the RBI has asked from the public as it wants to help make this digital ecosystem sustainable.

TMS Ep241: UPI charges, FIFA bans AIFF, jewellery stocks, ISRO's SSLV

Should there be charges on UPI fund transfers? What's at stake as FIFA bans Indian football federation? Should you buy jewellery stocks this festive season? Why is ISRO's SSLV important? Answers here

UPI expands; Indian flyers to UK to enjoy hassle-free digital transactions

Expanding further outside India, the indigenously developed real-time payments solution UPI will foray into the UK market starting with QR code-based transactions. The NPCI International Payments Ltd (NIPL) has forged a partnership with payments solutions provider PayXpert to internationalise the acceptance of its payment solutions in the UK. NIPL is the wholly-owned subsidiary of National Payments Corporation of India (NPCI) which developed the world's largest real-time payment solution the Unified Payments Interface (UPI) and the RuPay card scheme. "This collaboration will make the Indian payment solutions available in the UK on all PayXpert's android point-of-sale (POS) devices for in-store payments, starting with UPI-based QR code payments and later integrating the possibility for RuPay card payments," NPCI said in a release on Thursday. Counted as one of the most successful Real-Time Payments (RTP) systems globally, UPI clocked a volume of USD 940 billion (39 billion ...

Top Headlines: India on digital services tax, RBI moots UPI payments charge

India and other developing countries under the G24 grouping have objected to the proposal of making sovereign commitments to not introduce any future digital services tax like equalisation levy

India leads the world in real-time digital payments, says PM Modi

Success shows 'innovation prowess' of indigenous payment structure and fintech companies, he says

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