Page 9 - Upi Transactions

Link UPI app to bank account having limited funds; set daily limits

Fraudsters also place fake QR codes over legitimate ones-on parking meters, donation boxes, etc. When users scan them, the payment goes to fraudsters' accounts

Business correspondents' body demands higher charges for AePS withdrawals

Faced with a jump in costs and transaction failures, bank agents are demanding an upward revision of per-transaction charges to 1 per cent or Rs 21, whichever is lower

Indians see wallets drain by Rs 485 crore in 'UPI scams' in FY25

Over 600,000 incidents of fraud have been reported in the ongoing financial year till September

UPI 123Pay transaction limit doubles to Rs 10,000 for feature phone users

This change boosts the utility of UPI 123Pay, enabling users to conduct higher-value digital transactions without needing internet access, thereby promoting greater financial inclusion across India.

UPI 123 Pay: RBI extends transaction limits- Here are key changes

UPI 123Pay facilitates digital payments on feature phones, enabling users to access UPI services without an internet connection. It supports four payment methods

Paytm launches UPI International, enables cashless payments abroad

Paytm brings UPI payments for Indian travellers to UAE, France, Singapore, and more

Bima Stack promises seamless insurance claims, better access for all

Bima Stack makes purchasing insurance simpler, speeds up claims and strengthens access to products. It gives people control over their data

GenWise launches UPI payments for senior citizens with secure interface

This is the industry's first-ever introduction of UPI for elders, offering a simple user interface, enhanced security, and cyber fraud awareness

UP amends incentive policy to attract foreign investors for equity

Foreign firms investing in Uttar Pradesh by bringing in equity as well as loans will now be eligible to avail benefits under the state government's incentive policy. A decision in this regard was taken by the cabinet chaired by Chief Minister Yogi Adityanath here on Monday. The incentive policy has been rechristened as 'Foreign Direct Investment, Foreign Capital Investment and Fortune Global 500 and Fortune India 500 Investment Promotion Policy 2023'. Earlier, incentives under the policy were available to only equity investments. "Through this amendment, the Yogi government has given big relief to foreign investors. Through this, now foreign companies will also be able to invest in the state which brings in investment through equity as well as loan or any other source. With this decision of Yogi government, there is a possibility of increase in foreign investment in the state," an official statement said. Briefing about these decisions, UP Finance Minister Suresh Khanna said that

E-commerce sites record Rs 1 tn in sales; non-metros drove festive shopping

Demand from non-metro consumers, coupled with increased interest in luxury brands, drove festive season sales

UPI sets new record in Oct with 16.58 bn transactions worth Rs 23.5 trn

Growth in transactions driven by person to merchant transactions during festival season

Paytm gets NPCI nod to onboard new UPI users months after RBI restrictions

The approval may lead to an increase in company's UPI transaction volumes

Digital payments double in 3 years, cash transactions fall: RBI report

The study highlights that the share of digital payments more than doubled between 2021 and 2024, with UPI playing a key role in this transformation, particularly for small-value purchases

BharatPe's Ebitda loss declines to Rs 209 cr, revenue up 39% in FY24

The company said that its cash burn was reduced by 85 per cent on a Y-o-Y basis

UPI volume up 52% in H1CY24, transaction value rises 40%: Report

A decreasing average ticket size of transactions on the payments system indicates that it is increasingly being used to conduct small-value transactions

UPI transactions volume increases 52% to 78.97 bn in Jan-Jun: Report

Indian instant payment system Unified Payment Interface (UPI) transaction volumes recorded a 52 per cent year-on-year surge to 78.97 billion in the first six months of 2024, according to a report. In its India Digital Payments Report for the first half of 2024 (January to June), payment technology service provider Worldline said on Thursday that UPI continues to rule the payment market and is rapidly expanding its reach. "The number of UPI transactions rose significantly from 8.03 billion in January 2023 to 13.9 billion by June 2024. This growth in volume was matched by an increase in transaction value, which climbed from Rs 12.98 trillion in January 2023 to an impressive Rs 20.07 trillion in June 2024. "When comparing H1 2024 to the same period in 2023, UPI transaction volume saw a substantial increase of 52 per cent, rising from 51.9 billion to 78.97 billion," the report said. The value of transactions grew 40 per cent, increasing from Rs 83.16 trillion to Rs 116.63 trillion. In

Spending Boost: Soon, pay up to Rs 1,000 without entering PIN on UPI Lite

The daily transactions on UPI crossed 501 million in September, the highest ever since UPI turned operational

RBI ups UPI Lite limit for smooth payment transactions: Check revised caps

During the RBI MPC announcement, Shaktikanta Das announced increased UPI transaction limits for UPI123Pay and UPI Lite wallet, a move aimed at boosting UPI adoption

ICICI Bank, PhonePe partner to provide credit line on UPI for customers

PhonePe's market share on UPI is pegged at 49 per cent, with the second-largest player Google Pay processing about 38 per cent of the total transaction volumes in the country

Since the year pandemic hit, average daily UPI transactions up over 8x

In September 2024 alone, UPI processed 15.04 billion transactions, valued at Rs 20.64 trillion