Page 10 - Upi

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

Infibeam Avenues' subsidiary receives approval to offer UPI payments

Axis Bank will act as the payment service provider (PSP) bank for RediffPay

Money changes in February: Impact on UPI, credit cards & other transactions

Key financial changes in February include updates to UPI, credit card terms, savings account rules, and more

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 ..

Sebi proposes UPI safeguards to prevent fraud in market transactions

Sebi has proposed creating a unique Unified Payments Interface (UPI) address for the collection of money by investors

Regulations in financial services key to ensuring customer protection

The new generation requires speed, convenience, completeness of transactions, and continuous support

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

Tableau like Lakhpati Didi highlights India's progress at R-Day parade

Tableaux from various states, union territories and Central Ministries, rolled down the Kartavya Path, mesmerising the audience with their designs, decorations, and themes

UPI can grow 10 times from current base, says NPCI chief Dilip Asbe

The apex payments body recorded 16.73 billion transactions in December 2024. UPI registered over 172 billion transactions in 2024 alone

Indians visiting Dubai can use UPI to shop cashless at duty free shops

Collaboration between India and UAE will expand to other sectors such as retail, hospitality, transport, supermarkets

NPCI clarifies misconceptions about Jumped Deposit scam, no fraud reported

NPCI clarified that simply opening a UPI or bank app does not approve transactions. Users must explicitly authorise payments by entering their UPI PIN for processing

First phase of Bima Sugam project likely to be rolled out mid-2025

Initially proposed for Jan '23 launch, project missed many deadlines

Uncertainty looms over launch of Irdai's ambitious Bima Sugam project

Industry players, who are also investors in the project, say it is unlikely the project will meet the announced launch date of April 2025, with few updates on its progress

Navi crosses 1% market share in UPI transactions in December 2024

This is the first time in many months that a firm outside the top three has achieved this

BharatPe parent to sell up to 25% stake in Unity SFB for $800 mn

According to the licensing requirements, BharatPe has to bring down its stake in the bank to 10 per cent within eight years from the bank's operations

UPI transactions continue upward trajectory, hit all-time high in Dec 2024

For the full calendar year 2024, UPI-enabled platforms handled approximately 172 billion transactions, reflecting a 46 per cent annual increase

UPI moment for B2B payments: Bharat Connect likely to go live by March

The NPCI subsidiary, which will follow the model similar to TPAPs, is conducting pilots with eight companies

NPCI lifts WhatsApp Pay's user cap: Know how to set up new account

The move is expected to have profound implications for WhatsApp Pay and the broader UPI market

NPCI extends market cap deadline for UPI apps by two years to end of 2026

This extension provides significant relief to market leaders PhonePe and Google Pay, which dominate UPI transactions in India