Page 23 - Upi

Razorpay unveils India's fastest one-step payments solution Turbo UPI

Razorpay Turbo UPI aims to deliver a 5X faster payment experience, streamlines the payment process and eliminates any redirection to external apps

Account Aggregator at heart of creating inclusive growth in India: Nilekani

Touted as the UPI moment for lending, AAs are licensed by the RBI to access data between financial information providers and financial information users

Google Pay allows UPI payments using RuPay credit cards; check details here

This feature is now available to RuPay credit card holders of Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, and Union Bank of India

Japan mulling to join UPI payment system to promote cooperation: Official

Japan is mulling to join India's UPI payment system and promote cooperation on the digital identity system, an official statement said on Friday. Bhutan, Nepal, Singapore and UAE have already started accepting Unified Payment Interface (UPI) payment systems. "Almost every global forum, whether G20, SCO (Shanghai Cooperation Organisation) or G7, wherever we are presenting Hon'ble PM Modi's Digital India vision, has very good traction. "People understand how Modi ji has democratised digital technology. I thank the Japanese digital minister. He has accepted PM Modi's very deep and extensive vision of Digital India," Union Minister for IT and Telecom Ashwini Vaishnaw said. Japanese Digital Minister Kono Taro earlier on Friday said in an interview with a media channel that Japan is mulling joining India's UPI system and working on mutually recognising digital identities as well. "We just had our G7 Digital Ministers' meeting last month and we had our Indian Digital Minister Mr Vaishnaw

Paytm partners with SBI Card and NPCI to launch Paytm SBI Card on RuPay

Earlier this year, the Reserve Bank of India allowed users to link RuPay credit cards to the United Payments Interface

Mobile wallets market in India to surpass $5 trn in 2027, says GlobalData

UPI has become one of the most preferred methods for day-to-day payments, said the report

Paytm appoints Bhavesh Gupta as COO, President amid profitability push

The fintech giant, in its Q4 results for FY23, managed to narrow its losses to Rs 168 crore. This compares to losses of Rs 392 crore a quarter ago and Rs 761 crore in the year-ago period

Zomato inks partnership with ICICI Bank to launch its own UPI offering

Currently, Zomato UPI has been rolled out to select users only. Further expansion of the service will hinge on the initial customer response

Zomato begins its own UPI offering, Flipkart expected to follow soon

The report citing sources added that e-commerce platform Flipkart is also hopping on the bandwagon and has started its work for UPI offerings

UPI-related scams account for 55% of total digital payments frauds in India

Half of these frauds, however, have a ticket size of less than Rs 10,000

SCO digital ministers adopt India's proposal to adopt digital public infra

India also shared its plans to invest $3 billion to take mobile connectivity to villages in remote areas and $5 billion to bring broadband connectivity to all 250,000 Gram Panchayats

How are PPI wallets different from UPI? All that you need to know

The rising popularity of UPI-based transactions is eating up traditional payment options like debit cards

Biz of moving currency booming, with new revenue streams set to open up

Millions of rural Indians now have debit cards, yet lack access to ATMs. Such drivers are expected to contribute to the growth of ATMs in the rural regions

Top card cos to go live with UPI-linked RuPay credit card feature by June

The feature seeks to include 50 million UPI merchants in the formal credit economy and drive consumption in a big way

UPI continues to dominate digital payments thanks to wide use of QR codes

According to a Worldline India report on India's digital payments, in 2022, UPI processed over 74 billion transactions, an increase of 70 per cent YoY

India shows tech can bridge haves & have-nots divide: Rajeev Chandrasekhar

The government will spend some $200 million (around Rs 1,635 crore) to develop an AI ecosystem and make e-governance platforms more intelligent, said Chandrasekhar

ICICI Bank to offer EMI facility for UPI transactions above Rs 10,000

Customers can pay transaction amount above Rs 10,000 in the form of instalments in three, six, or nine months

We should be allowed to charge for UPI: Worldline India's Ramesh Narasimhan

In a Q&A, the company's CEO dwells on the huge opportunity the payments business provides in India and why there is a sudden rush to acquire an aggregator licence

Monetary policy review: UPI payments via pre-sanctioned bank credit soon

This new feature could be seen as a substitute for credit card, which has limited reach, experts say

Pre-sanctioned credit lines at bank to come under UPI ambit, says RBI

The Reserve Bank on Thursday proposed to expand the scope of the Unified Payments Interface (UPI) by including pre-sanctioned credit lines at banks within the ambit of the popular payment platform. UPI is a robust payment platform supporting an array of features. Presently it handles 75 per cent of the retail digital payments volume in India. The UPI system has been leveraged to develop products and features aligned to India's payments digitisation goals, said RBI Governor Shaktikanta Das while announcing the bi-monthly monetary policy. "It is now proposed to expand the scope of UPI by enabling transfer to / from pre-sanctioned credit lines at banks, in addition to deposit accounts," he said. In other words, UPI network will facilitate payments financed by credit from banks. This can reduce the cost of such offerings and help in the development of unique products for Indian markets. At present, UPI transactions are enabled between deposit accounts at banks, sometimes intermediated