Page 4 - Upi Transactions

No plan to impose any charges on UPI transactions: RBI Guv Malhotra

RBI Governor Sanjay Malhotra said the central bank is not considering imposing any charges on UPI transactions or the platforms

Ignosis raises $4 mn in pre-series A led by Peak XV's Surge, Razorpay

Ignosis, an AA infra and financial data intelligence firm, has raised $4 million led by Peak XV's Surge to scale teams and build AI-driven solutions for India's BFSI sector

Higher adoption of UPI leads to lower cash demand, RBI study shows

The study, authored by the RBI staff, found that UPI volumes are negatively correlated with cash demand, underscoring its role as a substitute for physical currency

New UPI transaction rules from Nov 3: Here's what changes for users, banks

Processes will speed up payments and streamline refunds without altering settlement timelines

UPI's new high-value transaction limits kick in today: Here's what changes

Higher caps will make it easier to pay for insurance, investments, and festive big-ticket spends

NPCI proposes UPI-based cash withdrawals with ₹10,000 cap at BC outlets

NPCI has sought RBI approval to enable UPI-based cash withdrawals of up to ₹10,000 at business correspondent outlets, expanding beyond ATMs and select merchants

UPI to allow insurance, capital markets transactions of up to Rs 10 lakh

Popular digital payments platform will raise transaction limits for various services from September 15

Amazon Pay India CEO bats for balanced MDR to support stakeholders

Bansal emphasised that the structure and rates of MDR should not be arbitrary but carefully crafted through consultation between the regulator and the industry

UPI usage at bars, food joints rises in August; discretionary spending up

While discretionary spending through UPI increases, at the same time, more than 20 million AutoPay mandates continue to be revoked each month, mainly due to insufficient balances

UPI autopay revocations hit 20 mn per month on low customer balance

UPI AutoPay enables users to generate a recurring e-mandate using any UPI payments application. It allows users to set timely mandates to pay using UPI on a periodic basis

UPI transactions up 3% in August to 20 bn as festive demand lifts usage

Festive season demand lifted UPI volumes in August, while IMPS declined; FASTag and AePS posted strong gains, reflecting India's deepening digital payments adoption

Statsguru: The rise and sudden fall of real-money gaming in India

RMG refers to online games where players wager real money and stand to win cash prizes

UPI goes global: Cross-border transactions grow 20-fold in a year

Cross-border UPI transactions rose 20 times to 7.55 lakh in FY25, with expansion to seven countries and over 1.5 million merchants accepting the platform

Payments Council of India reappoints Patel, Srinivasu; Bansal joins team

The Payments Council of India has reappointed Vishwas Patel and M N Srinivasu as chair and co-chair while inducting Nalin Bansal, alongside naming heads for key payments committees

The cost of free: UPI's exponential growth strains limits of subsidies

Industry players add that while other monetisation-friendly avenues are emerging for UPI, those require to be developed further to offset the impact of free transactions

The matrix, decoded: How QR codes are transforming payments in India

QR code, the little pixelated square, has changed how India pays or accesses information. Its applications are only limited by imagination

UPI 'collect requests' to end from October: here's how it changes payments

UPI New Rule form October: From October 1, you won't be able to send UPI collect requests to friends or family. Here's why NPCI is stopping the feature and what it means for your day-to-day payments.

UPI 'collect requests' to end from October: here's how it will affect you

The 'collect request' feature allows UPI users to send a payment request to another person, say, to split a dinner bill or remind a friend to return borrowed money

PhonePe tops UPI in July with 8.93 bn transactions, 46% market share

PhonePe processed 8.93 bn UPI transactions in July, ahead of Google Pay's 6.92 bn, as total UPI volume hit a record 19.46 bn worth ₹25.08 tn, NPCI data shows

UPI's top checkout by volume in July: The grocery aisle dominates

NPCI uploads new data points on UPI from time to time. One of the reasons to do that is to provide an ecosystem-level overview to all ecosystem participants, including banks and fintechs