Page 32 - Upi

We do much more than just enable payments: PayNearby CEO Anand K Bajaj

'We want to make India a more inclusive and empowered nation'

For first time in decades, cash in circulation dips in Diwali week: Study

Technology changing how Indians make payments; trend will help monetary transmission: SBI Research

Centre to not intervene in deciding deadline for payment platforms' 30% cap

PhonePe and Google Pay approached the National Payments Corporation of India (NPCI) asking for an extension to the December 2022 deadline for at least three years

RuPay credit card UPI to succeed if small transactions under 10%: Asbe

'RuPay credit card UPI to see good traction if small merchant transaction stays within 10%'

NPCI CEO pitches UPI autopay after Musk demands fee for blue ticks

Even as a debate rages about Twitter's decision to charge users for 'blue ticks', the NPCI has pitched its UPI autopay offering to take care of the monthly payments. National Payments Corporation of India (NPCI) managing director and chief executive Dilip Asbe replied to a tweet by billionaire Musk, saying the UPI's recurring payments offering already has 7 million users. "No worries, India has UPI AutoPay (7 Mn new approved collection mandates/month) to collect every anytime/month/quarter or yearly as you wish dear Twitter," Asbe wrote in response to Musk's tweet, tagging the microblogging site as well. "To all complainers, please continue complaining, but it will cost USD 8," Musk said in a tweet. It can be noted that the NPCI operated Unified Payments Interface (UPI) has been at the centre of the Indian digital payments story and taken the electronic alternative to newer highs. Twitter has been giving the 'blue tick' for public figures and known figures for many years now. The

Commonwealth Secretary General welcomes India's offer to share UPI tech

Commonwealth Secretary General Patricia Scotland has welcomed India's offer to share its path-breaking Unified Payments Interface (UPI) technology with other members of the Commonwealth of Nations, hailing the move as potentially transformational. UPI is an instant real-time payment system which facilitates inter-bank peer-to-peer (P2P) transactions. The transaction is done through mobile in easy steps. Besides, there are no charges applicable for the UPI transaction so far. Moreover, it has played a key role in the country making a transition to a cashless economy. The inexpensive medium for cashless transactions has been gaining traction month-on-month basis. Payment through UPI has crossed a milestone of Rs 11 lakh crore in September, as per the data released by National Payments Corporation of India. An offer was made by India at the Commonwealth Bank of Governors meeting on October 12. This generosity is very welcome, Scotland told PTI in an interview. India's willingness t

Madras HC orders status quo against digital payment app MobilePe

The Madras High Court has ordered maintenance of status quo against digital payment app MobilePe and its group companies in the matter of offering unified payments interface (UPI) and Bharat interface for money (BHIM) services. Justice M Sundar granted the injunction while passing interim orders on an application arising out of a civil suit from PhonePe on October 19. In its suit, PhonePe contended that the defendant companies had infringed upon its trademark. The judge found the logos of the plaintiff company PhonePe and the defendant companies (MobilePe) were similar. The plaintiff company made out a prima facie case of possible deception, the judge said and passed the interim order and issued notice to the defendant companies returnable by November 2.

Play Store policies: CCI lands second blow, Google fined Rs 936 crore

Regulator suggests eight corrective steps

FM Sitharaman offers open source network India Stack to other countries

Separately on Thursday, at the G-20 meeting, Sitharaman called on her counterparts to work together from the current geopolitical risks from worsening

Can India's UPI system go global?

The National Payments Corporation of India's international unit has signed a string of deals over the past two years with foreign companies and central banks. Can the UPI become a global service?

Rising clout: Which countries have adopted NPCI-backed UPI payments so far

With Europe being the latest addition to the list, several countries across the globe are adopting UPI for P2P, P2M and cross-border payments

Travelling to Europe? Now make hassle-free payments using UPI on your phone

Those visiting Europe will be able to make payments through UPI as the NPCI International Payments Ltd (NIPL) has entered into a partnership with European payment services facilitator Worldline. NIPL is the global arm of the National Payments Corporation of India (NPCI). The partnership between NIPL and Worldline is aimed at expanding acceptance of Indian payment means across Europe, according to a joint release issued on Tuesday. Under the partnership, Worldline's QR code-based mechanism will allow merchants' Point-of-Sale (PoS) systems in Europe to accept UPI payments from Indians using their mobile phones. Later on, the Indian customers will also be able to use their RuPay debit or credit cards to make payments in Europe. This will result in a multitude of customer-related merchant benefits due to an increase in footfall and spending from Indian tourists, NPCI and Worldline said in the release. Currently, Indian customers pay through international card networks when they trav

NPCI's plan to acquire a stake in ONDC faces RBI hurdle, says report

Banking regulator flags conflict of interest concern

No charge on UPI payments via RuPay credit card for up to Rs 2,000: NPCI

There will be no charge for RuPay credit card use on Unified Payments Interface (UPI) for transactions up to Rs 2,000 in line with the RBI direction, a recent NPCI circular said. RuPay credit card has been operational for the last four years, and all major banks are enabled and are issuing incremental cards for both commercial and retail segments. "During credit card on-boarding on the apps, the device binding and UPI PIN setting process shall include and be construed as customer consent for credit card enablement for all types of transactions," the circular dated October 4 said. For international transaction enablement, the existing process from the app will apply to credit cards too, the National Payments Corporation of India (NPCI) said in the circular. Nil Merchant Discount Rate (MDR) would apply for this category up to the transaction amount less than and equal to Rs 2,000, it noted. MDR is the cost paid by a merchant to a bank for accepting payment from their customers via

UPI transactions touch a record Rs 11.17 trillion in September, shows data

On a year-on-year (YoY) basis, volume of transactions was up 85.55 per cent and value of transactions was up 70.61 per cent during the same period.

Massive growth in reels in past two years, says Meta's Ajit Mohan

Reels make up more than 20 per cent of the time people spend on Instagram, globally.

UPI Lite: A payment method that allows you to pay without PIN or internet

The upper limit for payments has been set at Rs 200; wallet balance cannot exceed Rs 2,000 at any point

Dilip Asbe reappointed MD & CEO of NPCI for five years at firm's AGM

Asbe took over as MD&CEO of NPCI in Jan 2018. Prior to that, he was the firm's COO for close to 5 years

Regulating Digital India

Discriminatory algorithms will be the most complex of challenges for regulators

Idea is to generally link credit cards with UPI: RBI executive director

There was lack of clarity on whether the RBI will extend this facility to credit cards of other card networks, such as Visa, Mastercard, etc