Page 27 - Upi

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

As credit card transactions rise in India, debit cards take a backseat

Recent data from the Reserve Bank of India (RBI) shows that out of 25 crore card transactions in the month of April this year, 22 crore were credit card transactions

Monetary policy review: CBDC QR codes likely to be interoperable with UPI

RBI plans to have 1 mn active customers by June-end

e-Rupi to wearables: How 50% of all transactions will be digital in 3 years

As of January 2022, there were 65 crore RuPay debit cards in circulation, accounting for 65% of the total debit cards issued

Bank of Baroda launches cash withdrawal facility via UPI on its ATMs

Bank of Baroda on Monday announced launch of Interoperable Cardless Cash Withdrawal (ICCW) facility wherein a customer can withdraw cash using UPI from the bank's ATMs. "The first public sector bank to launch this service, Bank of Baroda customers as well as customers of other participating issuer banks that use BHIM UPI, bob World UPI or any other UPI application enabled for ICCW on their mobile phone can withdraw cash from a Bank of Baroda ATM without using their debit card," the lender said. On selecting the option 'UPI Cash Withdrawal' at a Bank of Baroda ATM, the customer needs to enter the withdrawal amount, post which a QR code is displayed on the ATM screen. Explaining the process, the lender said the customer will scan the QR code using a UPI app enabled for ICCW and then authorise the transaction with her/his UPI PIN on the mobile phone to withdraw the cash from the ATM. If multiple bank accounts are linked to a single UPI ID, ICCW functionality gives customers the option

Shoppers need not stop: Dynamics of in-store payments is being rewritten

The dynamics of in-store payments are fast changing, and this will impact retailing in a big way

UPI transactions at record high of Rs 14.3 trn in May, spike in 10 days

Rise at a time when the government is pushing to bring various tax collections under digital payment

BOB Financial opens up its entire RuPay Credit Card base for linking on UPI

BoB Credit Card customers can now use their RuPay Credit Cards on UPI with BHIM and other UPI-enabled Apps, BOB Financial Solutions Ltd (BFSL) said on Wednesday. BFSL is a wholly owned subsidiary of Bank of Baroda, and National Payments Corporation of India (NPCI). This enablement would open doors for Bank of Baroda RuPay Credit Card users to transact across all the merchant outlets with QR codes and POS devices in the country backed by convenience and security assurance of UPI, a joint statement said. Credit Card on UPI gives our customers access to the ease and convenience of transacting on UPI while they continue to enjoy the benefits of a credit card, BoB managing director Sanjiv Chadha said. BoB RuPay credit card customers can now directly link their credit cards with the UPI applications of their choice, such as BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik and PayZapp. "And they do not even have to carry the card with them. With this launch, we expect a significant rise

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