Page 17 - Upi

Flipkart unveils its UPI handle to boost India's digital evolution

The service would be available to all users including Flipkart's over 500 million customers

UPI transactions decline marginally in February to Rs 18.28 trillion

In volume terms, transactions were seen at 12.10 billion, compared to 12.20 billion in January

PhonePe to go global in a couple of months, says CEO Sameer Nigam

The Bengaluru-headquartered company is expected to announce its international plans over the next couple of months

Things have changed from UPA to UPI, says Anurag Thakur at FICCI event

India will become a developed nation much before 2047 through initiatives of the government and contributions from all quarters, including the industry, Union Information and Broadcasting Minister Anurag Thakur said here on Tuesday. Addressing the Viksit Bharat @ 2047 conclave organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), Thakur said India moved from being counted among the fragile five economies in the world to the top five due to the bold policies and decisions taken by Prime Minister Narendra Modi. The senior BJP leader said the prime minister was empowered to make tough decisions because of the clear mandate he received in the elections. "If you look back at 2014, we were among the fragile five economies of the world. There were corruption cases. There were many other issues faced by a lot of people where the delivery was a big challenge. From a lost decade to 'techade', how this journey has been from the time of UPA to the time of UPI, I think

Paytm likely to partner with four banks for enabling UPI transactions

The central bank has asked Paytm Payments Bank, the banking unit of Paytm to wind down its business by March 15, leading to disruption for the popular payment app

MobiKwik's Pocket UPI to allow wallet payments without linking to bank

This latest feature is aimed at creating more security and flexibility during transactions by mitigating risks associated with direct bank transfers

Coalition at WTO to help India push for open payment systems adoption: GTRI

Building coalitions with other WTO members will help India push for the adoption of open and interoperable payment systems like UPI with a view to cut the cost of money transfers or remittances, a report by think tank GTRI said on Monday. The dominance of a few large players in the market contributes to these high costs, through complex and opaque fee structures, the GTRI said. It added that India's recommendations to tackle this include encouraging digital transfers, fostering interoperable systems, promoting competition, streamlining regulations, and enhancing pricing transparency. In the ongoing WTO's 13th Ministerial Conference (MC13) in Abu Dhabi, UAE and India will make a strong push for the adoption of open and interoperable payment systems, among WTO (World Trade Organisation) members. The Global Trade Research Initiative (GTRI) said that this proposal is driven by India's belief that such systems can streamline global digital payments, and cut costs by fostering innovation

Paytm shifts nodal account to Axis Bank for seamless transactions

Paytm QR, soundbox, card machine will continue to work as always, said One97 Communications

Reserve Bank of India, Nepal Rastra Bank sign pact for UPI-NPI linkage

The integration of Indian and Nepalese fast payment systems is aimed at facilitating cross-border remittances between the two countries, RBI said

Central banks of India, Nepal sign agreement to link UPI-NPI, says RBI

State-owned Central banks of India and Nepal on Thursday signed terms of reference for the integration of the Unified Payments Interface (UPI) and National Payments Interface (NPI). The Reserve Bank of India and Nepal Rastra Bank signed the terms of reference. The formal launch of the linkage or commencement of operations will be done at a later date, the Reserve Bank said in a statement. "The integration is aimed at facilitating cross-border remittances between India and Nepal by enabling users of the two systems to make instant, low-cost fund transfers," it said. The RBI further said the collaboration between India and Nepal in linking their fast payment systems through the UPI-NPI linkage will further deepen financial connectivity and reinforce the enduring historical, cultural, and economic ties between the two countries. Based on the terms of reference exchanged between the RBI and NRB, the necessary systems will be put in place for the interlinking of UPI and Nepal's NPI.

Paytm fiasco: Merchants must onboard alternative provider for UPI payments

Long-term, fundamentals-oriented investors should stay away from its stock for now

UPI, RuPay card to be launched in Sri Lanka, Mauritius on February 12

The launch will enable the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius, as well as for Mauritian nationals travelling to India

UPI to be launched in Sri Lanka, Mauritius on Monday in virtual ceremony

India's Unified Payment Interface (UPI) services will be rolled out in Sri Lanka and Mauritius at a virtual ceremony on Monday that will be witnessed by Prime Minister Narendra Modi and the top leadership of the two island nations. India's RuPay card services would also be launched in Mauritius at the event Mauritian PM Pravind Jugnauth and Sri Lanka's President Ranil Wickremesinghe will join Modi at the virtual ceremony, according to the Ministry of External Affairs (MEA). "Prime Minister Narendra Modi, President of Sri Lanka Ranil Wickremesinghe and Prime Minister of Mauritius Pravind Jugnauth will witness the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, and also RuPay card services in Mauritius on February 12 at 1 PM via video conferencing," it said. Developed by the National Payments Corporation of India (NPCI), UPI is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. RuPay is a global card payment

RBI to meet NHAI, NPCI to discuss rescue plan for Paytm PB users: Report

NPCI oversees the United Payments Interface payments, and NHAI operates the FASTag service

NPCI appoints Ajay Kumar Choudhary as non-executive chairman of board

Choudhary succeeds Biswamohan Mahapatra who was appointed non-executive chairman in 2018

Volume, value of UPI transactions slip due to downtime with bank servers

The volume and value of transactions on UPI were pegged at 430.42 million and Rs 77,049 crore, respectively, a day before the widespread outage

UPI payments failing amid server outages; NPCI working with banks

Regret inconvenience on UPI connectivity as few of the banks are having some internal technical issues, NPCI said in a statement

Paytm working with other banks for continuity of UPI services on its app

UPI service on Paytm will continue to work as normal as the company is working with other banks to make changes in the back-end for continuity of its services, the fintech firm said on Monday. Paytm UPI service falls under the Paytm Payments Bank, which was recently restrained by the Reserve Bank of India from taking money from customers after February 29. "UPI on Paytm will continue to operate as normal. We are working in the back end to connect with other banks to ensure seamless continuity of service. Users are not required to do anything additional," a Paytm spokesperson said. According to the National Payments Corporation of India (NPCI), PPBL was the top UPI beneficiary among banks in December, with 283.5 crore transactions it received during the month. It had remitted 41 crore transactions in the period. Customers made 144.25 crore transactions on the Paytm Payment Bank App worth Rs 16,569.49 crore in December. Paytm's Bharat Bill Payment Operating Unit (BBPOU) business als

Slice announces public release of UPI first account product for everyone

/ -- slice, India's leading fintech startup, announces the public release of its highly anticipated UPI first account - slice account. After a successful three-month beta testing period, primarily available to its existing customer base, slice is now extending slice account services to all users. The slice account has witnessed overwhelming approval from the customers, who have quickly taken to its fast, integrated experience that combines user funds and digital payments within a single app infrastructure. Indulge in a fine payment experience: slice's UPI first account offers a UPI handle (@slice) and a virtual account. The customers can effortlessly add money in the virtual account and spend via UPI or card, or link any other bank accounts they want, enjoying a seamless and fast UPI payment experience. slice account simplifies the payment process by eliminating cross-selling and prioritising a user-friendly interface designed to save time. It includes autoload functionality for ..

Now, pay for Paris' Eiffel Tower visit through India's UPI, says NPCI

Eiffel Tower is the first merchant to offer UPI payments in France, and the service will soon be extended to other merchants in the tourism and retail space across France and Europe