Page 21 - Upi

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

UPI transactions reach a record Rs 18.41 trillion in January: NPCI data

According to data shared by the National Payments Corporation of India (NPCI), January numbers were 52 per cent higher in volume compared to the same month last financial year

Our sound-based payment tech helps those not digitally savvy: ToneTag CEO

'We are already doing 10 billion UPI transactions a month which is way more than the digital transactions in the US and Europe combined (for a month),' said Abhishek

TMS Ep615: Wed in India, UPI payments, markets, Karpoori Thakur

What will it take for 'Wed in India' to succeed? Can India challenge US dominance in international payments? Should you sell the rallies or buy the dips? Who was Karpoori Thakur? All answers here

PM Modi explains UPI digital payments system to French President Macron

Prior to visiting Hawa Mahal, PM Modi and French President Macron held a mega roadshow in Jaipur. Earlier in the day, French President arrived in India on a two-day state visit at the invitation of PM

Google Pay signs agreement to expand UPI for international payments

This will enable Indian travellers to transact digitally outside the country while also establishing systems similar to the Unified Payments Interface (UPI) in other countries

UPI best payments system, RBI not averse to having rival of NPCI: Das

Reserve Bank Governor Shaktikanta Das on Thursday dismissed criticism from certain quarters that after the huge success of UPI, its creator NPCI has become a monopoly and asserted that there is more room for the payment app to grow and it can become the world leader in payments. Unified Payments Interface or UPI, developed by National Payments Corporation of India (NPCI), has been a runaway success and is already operational in some countries, including Singapore and the UAE. Its monthly volume in the country crossed the 100-billion mark many months ago. RBI is in discussion with more central banks in other countries. Dismissing the criticism that NPCI, set up by RBI and other financial institutions, has become a monopoly, he said, it is the best creation. Das was speaking at a BFSI seminar organized by business daily Mint. "UPI has already become a digital public infrastructure. In fact it has to grow even further. I would say this is the best payments system in the world as of n

Major UPI Apps enabled to receive remittances from Singapore, says NPCI

Additionally, banks such as Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India provide this functionality through their respective apps

'Don't think world can afford cryptomania', says RBI Guv Shaktikanta Das

'I don't think the world or emerging markets can take a cryptomania like the Tulipmania, said the RBI Governor at Mint's BFSI Summit

SalarySe secures $5.25 million in seed funding from Peak XV Surge, Pravega

The company has plans to develop a tech stack for the credit-on-UPI (Unified Payments Interface) product and drive its adoption in the country with the latest round of funding

India, Sri Lanka discuss early launch of UPI payment system in country

Six months after it was announced by the prime ministers of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation's debt restructuring process. In July 2023, Prime Minister Narendra Modi and Sri Lanka President Ranil Wickremesinghe signed an agreement on Unified Payments Interface (UPI) acceptance in Sri Lanka during Wickremesinghe's two-day visit to India. The latest discussion took place on Monday during a meeting between the High Commissioner of India Santosh Jha with the Governor of the Central Bank of Sri Lanka (CBSL), Dr Nandalal Weerasinghe. High Commissioner reiterated that #India will continue to be a steadfast partner in Lanka's economic recovery in his meeting with @CBSL Governor. Discussed early launch of UPI payment system in SL, growth in INR trade settlements, and India's support in Lanka's debt restructuring process, said a post on X by the High Commissioner of India

New block facility sees token trades in 1st week as only few able to avail

The so-called ASBA facility, which has become operational from January 1, has seen only 'token trades' with a limited set of customers making use of the facility

Comply with higher UPI transfer limit by Jan 10, NPCI directs members

To ensure compliance with the enhancement, NPCI has asked banks, payment service providers, and UPI applications to ensure transaction limits are raised for the aforementioned merchant categories

UPI transaction rules 2024: New regulations applicable from January 1

UPI new rules: The RBI and NPCI have announced a number of changes to regulations for online payments via UPI. Here are the top 5 such changes

HDFC Bank goes live with NPCI-developed UPI in secondary market platform

HDFC Bank has executed transactions via the NPCI's UPI payments app as part of the 'UPI for secondary market' facility, which which went live on Monday, the lender said in a statement. The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NCPI). Effective January 1, Sebi and the stock exchanges permitted trading in the cash segment through block mechanism, on an optional basis, for the secondary market on the lines of Application Supported by Blocked Amount (ASBA) for primary markets where investors' funds will continue to remain in their savings account with the required funds being blocked instead of the investor having to upfront transfer the amount to the broker's account for placing trades. On December 29, the NPCI had said the 'UPI for secondary market' facility will go live from January 1 in the Beta phase for the equity cash segment, with support from clearing corporations, stock exchanges, .