Page 30 - Upi Transactions

PhonePe to expand business, digitise 25 mn small merchants, create 10K jobs

The company plans to reach 5,500 talukas via its merchant acquisition team that will lead to over 10,000 jobs being created in semi-urban and rural areas

Refund charges taken since Jan 1 on UPI, RuPay payments: Tax dept to banks

To encourage digital transactions and move towards a less-cash economy, the government inserted a new provision, Section 269SU, in the Finance Act, 2019

Pvt banks charging fee on more than 20 P2P UPI transfers in a month: Report

Defending the move, bankers said that the charges have been introduced in a bid to prevent frivolous transactions from putting a load on the system

UPI transactions hit all-time high of 1.49 billion in July: NPCI data

During the April-July period of 2020-21, the cumulative transactions on UPI reached 6.31 billion. The value transacted stood at Rs 6.31 trillion

Digital payments see good growth in Jul; UPI transactions up 11% to 1.49 bn

While there was a blip in the transactions in April due to the nation-wide lockdown, digital payment transactions soon recovered as the nation opened up

Customers, merchants can use UPI Autopay facility for recurring payments

UPI transactions hit an all-time high of 1.34 billion in June, with transactions of over Rs 2.61 trillion clocked in June alone

India likely to have UPI-type architecture for instant credit disbursement

"The payment architecture OCEN can truly democratise credit flow, making the process hassle-free," said Nandan Nilekani

NPCI updates UPI with auto pay feature for smoother recurring transactions

The feature needs customer mandates for these recurring payments to be made. Mandates can be set up with a frequency of user's choice such as daily weekly, monthly or annually

Google Pay says all UPI transactions on its platform are fully protected

The clarification came after a buzz on social media that issues arising while transferring money through Google Pay are not protected by law as the app is unauthorised

Fintechs see inflexion point as Covid-19 gives fillip to digital modes

Fintechs are at an inflection point with the Covid-19 pandemic giving a huge fillip to digital modes, reports Raghu Mohan

May digital payments see an uptick, indicating revival in economic activity

As vehicular activity returned in May, toll collection saw a huge uptick; Fastag posted an impressive jump of more than 400 per cent in transaction count at 55.17 million

UPI transactions drop in March, RTGS shoots up due to lockdown

According to the data, the volume of UPI transactions in March slipped to 124.68 crore from 132.57 crore in February

India to become world leader in UPI payments volume in next 5 years: Report

What makes India a potential leader is its payments modernization initiatives in the wake of demonetisation, giving it an edge over other nations.

Continue second phase of UPI for retail investors till further notice: Sebi

The decision to continue with the second phase came after representations were made to Sebi by various stakeholders amid prevailing uncertainty due to the Covid-19 pandemic

The coming turmoil in the capital markets

In part one of a series, the author says the capital markets and the securities ecosystem have remained broadly untouched by the progress in India's payment infrastructure

BSNL, SBI partner to launch UPI-based payment platform Bharat InstaPay

According to BSNL officials, the new payment facility developed by the company will enable its partners, especially prepaid sellers, to buy service immediately for sale

PhonePe partners with ICICI Bank, to continue alliance with Yes Bank

While PhonePe declined to comment on the banks it is in talks with, sources said PhonePe is engaged in dialogue with State Bank of India, HDFC Bank, Axis Bank and RBL Bank.

YES Bank crisis: PhonePe comes to a halt, but staff keeps it up and running

Payments firm came to a halt after RBI superseded YES Bank's board

BoM, SBI only PSBs rated 'good' in digital transactions in Dec: Govt data

For digital transactions, the government has given a target of 4,000 crore digital transactions for the current fiscal

MDR waiver to hit fintechs, payments companies' business model

Industry fears the move to drag the growth of digital payments