Page 24 - Upi

You may soon be able to make UPI payments by talking or just tapping phone

RBI governor Shaktikanta Das in the MPC decision announcement on Thursday, proposed to enable 'conversational' payments on UPI using AI

UPI transaction value up 4% in July; inches closer to 10 billion in volume

In July 2023, the Immediate Payment Service (IMPS) transactions were seen at 490 million up 5 per cent from 468.1 million in volume

Fintech company CRED launches RuPay credit card-based UPI payments

According to CRED, this initiative will benefit banks and merchants through increased consumption and inclusion in the credit ecosystem

Universal Postal Union to assess UPI platform for cross-border remittances

The Universal Postal Union will evaluate UPI for integrating the unified payment interface with cross-border remittances using global postal network, an official release said on Tuesday. Director General of Universal Postal Union (DG UPU) Masahiko Metoki, who is on a three-day visit to India for the inauguration of UPU Regional Office, also met Minister of Communications, Electronics and IT Ashwini Vaishnaw here on Tuesday. "During the interaction, DG UPU appreciated India's expansion of physical post offices riding on the waves of digital infrastructure and advocated the replication of similar models in other countries. He also agreed to evaluate UPI platform for integrating it with cross-border money remittance through postal channels," the release added. Vaishnaw shared the transformation of the post offices into a digitally powered network, capable of doorstep delivery of government services in remote areas, according to the release.

PhonePe Insurance launches monthly subscriptions for health policies

Option will lower financial burden for customers, says company owned by fintech major PhonePe

TMS Ep478: UPI goes global, Chandrayaan-3, MFs and small-caps, TCS vs TDS

How can UPI replicate its success abroad? How will Chandrayaan 3 mission help space start-ups? Why are MFs finding the going tough for small-cap schemes? How is TCS different from TDS? Answers here

India's global DPI proposal faces resistance from developed nations

Amid fear of losses for Visa and Mastercard, developed countries have flagged that an interoperable global DPI may affect private players

LIVE: Maharashtra's new Deputy CM Ajit Pawar gets Finance and Planning dept

Catch all the latest updates from across the globe here

Indians will be able to make payments in rupees via UPI in France: PM Modi

Unified Payments Interface (UPI) is India's mobile-based payment system and allows people to make round-the-clock payments through a virtual payment address created by the customer

Zomato temporarily halts new consumer onboarding on UPI payments app

Food delivery platform Zomato on Thursday said it has temporarily paused the onboarding of new users on the Unified Payments Interface it rolled out in May to incorporate feedback. The company said it will start enrolling new users on the app by the end of the month. In May this year, the Gurugram-based firm launched Unified Payments Interface (UPI) services for some users in the country in partnership with ICICI Bank. "The UPI offering has been temporarily paused for new user onboarding, only to incorporate feedback received on the onboarding flow. We will start enrolling new users by the end of the month," a Zomato spokesperson said. UPI is a real-time payment system developed by the National Payments Corporation of India (NPCI). The service facilitates transfer of money directly from the user's phones using a UPI PIN on supporting apps. Some of the top players offering UPI service in the country are Google Pay, Paytm and PhonePe.

HDFC Bank offers interoperability of UPI and CBDC QR code payments

Private lender had more than 100,000 customers and 170,000 merchants under pilot programme

Zomato temporarily suspends rollout of UPI enrolment for new users

The rollout is on hold as the company is working to improve the onboarding process

Visa to Rupay: From October 1, you can port your credit, debit cards too

Currently, when you apply for a debit or credit card, you usually don't get to choose the network provider as it is decided by the card issuer.

PNB announces UPI payments with IVR-based technology 'UPI 123PAY'

State-owned Punjab National Bank (PNB) on Tuesday announced the launch of UPI 123PAY, an IVR-based UPI solution. This offering aligns with the Digital Payment Vision 2025, propelling the nation towards a cashless and cardless society, PNB said in a statement. The Unified Payments Interface (UPI) has revolutionised the way transactions are conducted in India, providing customers with a seamless, secure, and real-time payment experience, it said. However, until now, UPI services were primarily accessible through smartphones or Unstructured Supplementary Service Data (USSD), reliant on robust internet connectivity, it said. This limitation hindered access to UPI for users without smartphones or residing in low internet connectivity zones, it added.

Soon, you may be able to use the same QR codes for e-Rupee and UPI payments

The interoperability between e-Re and UPI QRs will be implemented only at the front end

UPI falls marginally in June to Rs 14.7 trn, with 9.33 transactions

Based on data from NPCI, compared to the same month last financial year, transaction volume rose by 59% and value by 45%

All panchayats to be UPI-enabled on August 15 for revenue collection: Govt

All panchayats across the country will mandatorily use digital payments for all development work and revenue collection this Independence Day onwards, and will be declared UPI-enabled, a letter issued by the Panchayati Raj Ministry said. States should "announce and inaugurate" the UPI-compliant panchayats in the presence of prominent dignitaries, like chief ministers, MPs, and MLAs, the ministry said in the letter to states and Union territories. Secretary, Panchayati Raj Ministry, Sunil Kumar told PTI almost 98 per cent panchayats have already started using UPI-based payments. "Payments worth almost Rs 1.5 lakh crore have been made through the Public Financial Management System (PMFS). Payments to panchayats will now be made digitally. Payments in cheques and cash have almost been stopped," Kumar said. "It has almost universal coverage now. We have already covered almost 98 per cent of panchayats," he said. Panchayats have also been asked to hold meetings with service providers a

NPCI to Meesho: Indian firms in Time's 100 most influential companies 2023

Global companies that found mention in the list were Nvidia, SpaceX, OpenAI, Crocs, Taco Bell, BYD, LVMH, and Lockheed Martin

Is UPI the new Rs 2000? Data suggests so, says SBI

Rural and semi-urban areas are leading the surge in UPI transactions

How India fell in love with online payments

From paying a vegetable vendor to buying a high-end gadget, Indians are swiftly adopting online modes of payments for different needs. Watch the video to know why