Page 27 - Upi

No charge on normal UPI payment; interchange fee for PPI transactions: NPCI

National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement. NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1 per cent charge on unified payment interface (UPI) transactions above Rs 2,000 while using PPI. "The interchange charges introduced are only applicable for the PPI merchant transactions and there is no charge to customers, and it is further clarified that there are no charges for the bank account to bank account-based UPI payments (i.e. normal UPI payments)," it said. With this addition to UPI, the customers will have the choice of using any bank account, RuPay Credit card and prepaid wallets on UPI-enabled apps, it said. In recent times, it said, UPI h

Paytm Wallet now universally acceptable on all UPI QRs, online merchants

Homegrown Paytm Payments Bank, the largest issuer of KYC wallets (prepaid instruments) with over 100 million users, on Monday announced that its full KYC wallet customers will be able to make payments

Full-KYC Paytm wallets can now make payments across all UPI QR codes

Move comes after NPCI announces KYC wallet interoperability

India's e-comm mkt to grow from $83 bn in 2022 to $185 bn in 2026: Report

UPI driving consumers away from cash and helping financial inclusion, it says

Linkages like PayNow-UPI have great potential to help rupee: Jamal Mecklai

In a Q&A, the CEO of Mecklai Financial Services dwells on issues such as rupee internationisation, stronger FDI flows and RBI's role in keeping the Indian currency stable

Paytm UPI LITE crosses 2 mn users with over half million daily transactions

Paytm UPI LITE brings single-click payments that never fail even when banks have success rate issues during peak transaction hours

PoS terminals and the future of digital payments

The offline unorganised segment will drive merchant payment digitisation with QR codes and sound boxes - devices with speakers that display alerts for merchants when transactions are processed

Paytm Payments Bank goes live with UPI Lite for small value transactions

According to NPCI, users will receive a daily transaction history of all the payments made through UPI LITE as an SMS from their banks.

Paytm Payments Bank goes live with UPI LITE for small-value transactions

Paytm Payments Bank Limited has gone live with UPI LITE, a feature enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions, thus empowering its users

PM Modi exhorts India Inc to make most of budget, ramp up investments

Urges financial sector to re-engineer processes to pare costs, speed up credit for small businesses; extols India's digital thrust as model for the world, lauds credit schemes for micro entrepreneurs

A billion transactions a day can be processed through UPI: RBI governor

The objective of the mission, as part of Digital Payments Awareness Week (DPAW) 2023, is to make every citizen in the country opt for digital payments

UPI, PayNow tie-up: In payments, like geopolitics, India seeks a third way

Indian policy makers believe that the UPI and allied elements of what it calls "digital public infrastructure" are one of their biggest recent innovations

Himachal CM launches UPI e-services for Kangra Central Cooperative Bank

Chief Minister Sukhvinder Singh Sukhu on Wednesday launched Unified Payment Interface (UPI) and 'Swadhan-e-pension-Gov' services for Kangra Central Cooperative Bank. He said that the introduction of these services would benefit thousands of account holders of the bank. The introduction of UPI service would make the bank transactions easier and quicker, especially for the elderly and those living in the remote areas. Sukhu lauded the efforts of the Kangra Central Cooperative Bank for the initiative and assured them of all possible help from the State Government. The Chief Minister also released the annual calendar of the Bank on the occasion.

India's G20 presidency received strong support for all our priorities: FM

Finance Minister also said that she is grateful for the USA and UK, who were very supportive of the global coordination framework, particularly on the crypto

More nations interested in using UPI: RBI deputy governor T Rabi Sankar

Speaking about India's central bank digital currency (CBDC, also known as e-rupee), Sankar said the RBI was looking to expand the use cases for wholesale CBDC

UPI: Local & global

India-Singapore link is an encouraging first step

Decoded: What the India-Singapore real-time payment linkage is all about

India, Singapore cross-border retail payments & remittances amount to over $1 billion annually

SMEs in Singapore urged to use PayNow-UPI scheme for biz deals with India

The Singapore Indian Chamber of Commerce and Industry (SICCI) has urged Small and Medium Enterprises (SMEs) in the city-state to use the PayNow-UPI linkage for business dealings with India for ease of payment. SICCI Chairman Neil Parekh, while welcoming the launch of the linkage of India's Unified Payments Interface (UPI) and Singapore's PayNow on Tuesday, also emphasised that the SMEs stand to benefit from the launch of the cross-border real-time digital payment system. The launch is timely as both countries have resumed normalcy, and Singapore continues to see a steady and high influx of Indian entrepreneurs coming to Singapore for business delegation meetings with their counterparts and our Chamber, Parekh said. Small and medium enterprises stand to gain with this launch of real-time payment, and SICCI strongly urges SMEs who have business dealings with India to use the scheme for ease of payment, Parekh told PTI. Singapore Prime Minister Lee Hsien Loong and his Indian counterpa

Fintechs see UPI-PayNow linkage as foundation for a global network

On Tuesday, India and Singapore linked their digital payment systems, United Payments Interface (UPI) and PayNow, to enable real-time money transfers

'Cheaper, faster, safer': India, Singapore launch real-time payments link

UPI-PayNow linkage world's first to feature cloud-based infra