Page 14 - Upi

Namma Yatri parent raises $11 mn in funding from Blume Ventures, Antler

Company that runs community-led mobility apps will use the money for improving technology, research

140 million HDFC Bank, Axis customers may face service interruption

UPI services will be unavailable for customers from 3:00 AM to 3:45 AM and from 9:30 AM to 12:45 PM on July 13, 2024

NPCI International partners with Qatar National Bank to launch UPI

In June, NIPL inked an agreement with the central bank of Peru to develop a UPI-like payment system in the South American country

Banks should be prepared for providing credit through UPI: Zeta CEO APAC

We believe that the UPI transaction volume, using one or another form of credit, would be $1 trillion by the end of 2030, she says

India's UPI goes live at Galeries Lafayette, eyes Paris Olympics boost

Ambassador of India to France and Principality of Monaco Jawed Ashraf launched UPI by live use

India launches UPI payments at world-renowned Galeries Lafayette in Paris

India has launched the Unified Payments Interface (UPI) at Paris' historic department store Galeries Lafayette after a successful launch at the iconic Eiffel Tower. This significant step is towards realising Prime Minister Narendra Modi's vision of globalising UPI, which is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. "On July 3, 2024, the UPI became live at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This expands the acceptance of UPI in Paris after a successful launch at the iconic Eiffel Tower," the Indian Embassy in France said in a release on Thursday. Ambassador of India to France and Principality of Monaco Jawed Ashraf launched UPI by live use at the store in the presence of Nicolas Houze, CEO of Galeries Lafayette, and Alain Lacour, Chairman of Lyra Group, the release said. "Delighted to launch @UPI_NPCI in the world-famous @Galeries_Laf in Paris. After the launch in the Eiffel

After historic high, UPI transactions see marginal dip in June to 13.89 bn

IMPS down by 7%, FASTag 4%; but Aadhaar Enabled Payment System (AePS) see a 11% jump in volume & 7% in value

Soon UPI ticketing at all booking counters in Kolkata Metro's N-S corridor

Kolkata Metro on Saturday announced that UPI payment-based ticketing system will be available at booking counters of all stations of Blue Line (Dakshsineswar-New Garia) soon for the convenience of the passengers. The system had earlier been introduced in all Automatic Smart Card Recharge Machines (ASCRM) installed at stations of Blue Line but not at counters. This ticketing system has also been introduced in all stations of Green Line 1 and Green Line 2 (Howrah Maidan-Esplanade and Sealdah-Sector Five) as all ticket booking counters in this corridor are now UPI-enabled, the Kolkata Metro said in a statement. As a result, commuters now don't need to tender the exact fare in currency notes and coins at stations under the Green line of East-West Metro. "Instead, they have now been recharging their smart cards or purchasing tokens with the help of this alternative system," the statement said. Now with the introduction of this UPI-payment based ticketing system at all the counters of B

India, Cambodia discuss investment treaty, UPI collab: Commerce ministry

India and South East Asian nation Cambodia are negotiating collaboration in UPI-based digital payment to promote trade and tourism, the commerce ministry said on Thursday. Both sides also deliberated upon diversification of the trade basket by identifying new products, bilateral investment treaty, recognition of Indian pharmacopoeia and collaboration in the pharma sector. These issues among others were discussed during the second meeting of the India-Cambodia Joint Working Group on Trade and Investment (JWGTI) here on Wednesday. Pharmacopoeia is a set of standards and quality specifications for ingredients, preparation and dosage forms of medicines manufactured, sold, consumed and exported in a country. Indian Pharmacopoeia Commission (IPC) is an autonomous institution under the Ministry of Health and Family Welfare which sets standards for all drugs that are manufactured, sold and consumed in India. "The meeting discussed the progress of the ongoing efforts for collaboration in .

Neeraj Arora quits Paytm, firm onboards ex-Sebi official Rajeev Agarwal

Former Chief Business Officer of WhatsApp Neeraj Arora has quit the board of the fintech firm One97 Communications, owner of Paytm brand, citing pre-occupation and personal commitments, a regulatory filing said on Monday. Arora had quit the Paytm board earlier in early 2018 but rejoined it before the company's IPO. "The Board, at its meeting held today i.e., June 17, 2024, took note of the resignation tendered by Shri Neeraj Arora, Non-Executive Independent Director of the Company on account of pre-occupation and other personal commitments. He will accordingly cease to be a Non-Executive Independent Director, with effect from the closure of business hours on June 17, 2024," Paytm said in the regulatory filing. Arora was a key figure in negotiating the WhatsApp merger deal with social media major Facebook. He has co-founded his own social networking Hallo App and a venture capital firm Venture Highway. Paytm has onboarded former whole-time director of market regulator SEBI Rajeev .

RBI permits automatic replenishment of UPI Lite wallet: Check details

UPI Lite users can make payments of up to Rs 500 without a PIN

RBI permits customers to automatically replenish their UPI Lite wallets

The Reserve Bank on Friday proposed a facility to allow customers to automatically replenish their UPI Lite wallets to promote small-value digital payments. Currently, the UPI Lite has a daily limit of Rs 2,000, while the upper limit for a single payment is Rs 500. UPI Lite is a simplified version of the Unified Payments Interface (UPI). It acts as an on-device wallet for small-value transactions. Presently, the UPI Lite app can only hold a maximum of Rs 2000 at a time. "To encourage wider adoption of UPI Lite, it is now proposed to bring it under the e-mandate framework by introducing a facility for customers to automatically replenish their UPI Lite wallets if the balance goes below the threshold limit set by them," RBI Governor Shaktikanta Das said. This will further enhance the ease of making small value digital payments, he said while announcing the bi-monthly monetary policy here. UPI Lite was introduced in September 2022 to enable small value payments in a quick and seamle

PhonePe's UPI share expands, Paytm sees marginal rise in txn volume in May

The Bengaluru-based digital payments and financial services company has maintained its streak of growth on UPI with its share increasing from 47.35 per cent in February this year

PhonePe ties up with Sri Lankan ride-hailing player to enable UPI payment

Fintech firm PhonePe has partnered with ride-hailing platform PickMe to enable UPI-based payments for Indian travellers in Sri Lanka, the Walmart group firm said on Thursday. Last month, PhonePe entered into a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. "Our partnership with PickMe exemplifies the company's commitment to providing Indian travellers with convenient and trusted payment solutions. Previously, navigating payments in a new country could be a hassle. "Now, with PhonePe, Indian tourists visiting the beautiful island nation of Sri Lanka can enjoy the ease and security of UPI payments for their rides," Ritesh Pai, CEO of PhonePe - International Payments, said. The collaboration follows the launch of PhonePe in the island nation last month, wherein the Indian High Commissioner Santosh Jha had urged companies in Sri Lanka to engage with Indian companies to build on the UPI stack for innovations in hotel bookings, cab bookings, delivery ...

Peru to adopt UPI technology, first South American country to do so

India's NIPL inks pact with Peru's central bank to develop the technology

UPI transactions clock new record in May at Rs 20.45 trillion, shows data

Data shared by the National Payments Corporation of India (NPCI) on Saturday said that the May figures were 49 per cent up in volume and 39 per cent up in value compared to the same month in 2023

Nearly 4 out of 5 digital transactions via UPI, says RBI annual report

The report further added that the Payments Infrastructure Development Fund (PIDF) has aided in the growth of digital payments in the last financial year, the RBI said

HDFC Bank to stop SMS alerts for small UPI payments soon; details here

The private lender notified its customers via email and SMS that they will continue to receive email alerts for all UPI transactions

New tool against online fraud: Alerts for UPI, card, and net banking

Feature involves sending an immediate alert to the account holder before allowing any unusual or suspicious transaction initiated through their bank account

UPI transaction limits: Factors influencing maximum transfer amounts

For new UPI users, the daily transaction limit is Rs 5,000 for the first 24 hours