Page 7 - Upi Transactions

Govt clears ₹1,500 cr scheme to boost low-value BHIM-UPI transactions

Under the scheme, incentives will be provided for UPI transactions up to ₹2,000, specifically benefitting small merchants

Soon, merchants may lose option to request 'collect' UPI payments

Authorities are now favouring 'push' transactions, where customers initiate payments by scanning QR codes or using other secure methods

Govt may restore merchant charges on UPI, RuPay transactions for big firms

The government is reviewing a proposal to reintroduce merchant discount rates (MDR) on UPI and RuPay transactions for large businesses, aiming to ease the financial strain on banks

UPI posts 5% dip in volume to 16.11 billion, 7% in value in February

The value declined to Rs 21.48 trillion in February, compared to Rs 23.48 trillion in January

UPI transactions drop 5% in volume, 6.5% in value due to shorter February

Number of daily transactions for February stood at 14.46 million, up from 14.33 million in January, which translated to a value of Rs 20,110 crore in February and Rs 19,562 crore in January

UPI transactions in Jan surpass 16.99 billion, value exceeds Rs 23.48 trn

UPI transactions in January surpassed 16.99 billion and the value exceeded Rs ?23.48 lakh crore, marking the highest number recorded in any month, the Finance Ministry said on Thursday. For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement. Unified Payments Interface (UPI) remains the cornerstone of India's digital payment ecosystem, contributing to 80 per cent of the retail payments across the country, it said. The total transaction volume exceeded 131 billion and the value exceeded Rs ?200 lakh crore for the 2023-24. Its ease of use, combined with a growing network of participating banks and fintech platforms, has made UPI the preferred mode of real-time payments for millions of users across the country, it said. As of January, 2025, over 80 UPI Apps , 641 banks are currently live on UPI ecosystem, it said. In FY 24-25 (till Jan, 2025), the People to Merchant (P2M) transactions contributed 62.35 per cent and

UPI Autopay surges threefold as customers shift from cards to digital

Set up of UPI Autopay for various services, including OTT subscriptions, insurance premiums, loan repayments, and utility bills has paved the way for UPI dominance

NPCI warns users against call merging scams; here's how to protect yourself

The NPCI issues warning against a scam that involves fraudsters tricking people into merging calls, where users unknowingly share their OTPs, leading to financial loss

New UPI rule on automatic acceptance, rejection of chargebacks from Feb 15

Process will apply only to bulk transaction uploads and not to those done by individuals

PhonePe clocks record 8.1 bn UPI transactions in January, shows NPCI data

PhonePe continued to dominate the UPI ecosystem, commanding a 47.67 per cent market share, with Google Pay and Paytm holding 36.38 per cent and 6.78 per cent, respectively

Phishing to QR code scam: Key steps to avoid some common UPI-related frauds

As UPI transactions rise, so do frauds. From phishing to fake QR codes, here's how scammers operate and key steps to protect yourself from financial fraud

Now, complimentary airport lounge access for UPI users, courtesy Kiwi

Kiwi users can now enjoy one complimentary airport lounge access for every ₹50,000 spent via Credit Card on UPI on the Kiwi platform.

Budget 2025 slashes digital payments incentives: Is MDR on its way out?

With the Budgetary outlay for UPI transactions cut by 78 per cent, industry insiders wonder if transaction fees are likely to be introduced

Yono-UPI integration to give more reach for Singapore transactions to India

State Bank of India Singapore on Wednesday said the planned YONO-UPI integration through PayNow will provide a bigger reach for India-bound transactions from Singapore. The SBI YONO-UPI-PayNow linkage comes amidst the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announcing a plan to launch two new payments solutions in the middle of this year to support the transition to e-payments for both corporate and retail cheque users. "For future enhancements, SBI Singapore is looking at having linkage to the UPI, a Government of India initiative system that powers multiple bank accounts through a single interface," SBI Singapore CEO M P Siva told PTI on Wednesday. "The planned YONO-UPI integration through PayNow will provide a bigger reach for India-bound transactions from Singapore, he said. Siva further noted that Singapore is one of the most important markets and we would like to be amongst the best in offering services, given the wide range of ..

Budget muted on UPI, RuPay debit card incentives; sops down by 78%

The Budget earmarked Rs 437 crore to promote such transactions in financial year 2026 (FY26), compared to Rs 2,000 crore allocated the year before

Sebi mulls safe UPI payment mechanism for registered market intermediaries

Markets regulator Sebi is looking to come out with a new mechanism to ensure secure and efficient payments in the securities market through Unified Payments Interface (UPI) in bid to distinguish legitimate financial intermediaries from fraudsters. Under the proposed mechanism, the regulator has suggested creating a unique UPI address for registered market intermediaries, making it easier for investors to confirm that they are paying only registered entities. The proposed UPI payment limit for capital market transactions is set to Rs 5 lakh per day, higher than the current Rs 2 lakh limit. This will be evaluated periodically in consultation with National Payments Corporation of India (NPCI). The Securities and Exchange Board of India (Sebi) floated a consultation paper on the proposals on Friday and sought public comments on them by February 21. Since 2019, Sebi has enabled UPI as a mode of payment in the market. However, there has been a growing issue with unregistered entities ..

UPI volume scales new peak of 16.99 billion in January, shows NPCI data

The number of daily transactions for January stood at 14.33 million, up from 14.23 million in December, which translated into a daily transaction value of Rs 19,562 crore

UPI transaction won't work from Feb 1 if ID contains special characters

Step meant to improve transaction security and technology compliance, says NPCI

UPI credit cards: Track spending as frequent small txn can strain budget

Security-related precautions for UPI-enabled credit cards are similar to those for standard UPI payments

UPI's share in total digital payments in India grows to 83% in 2024

In 2024 alone, India recorded 208.5 billion digital payment transactions