Page 39 - Upi

Mandate creation through UPI dips in sync with muted IPO show in September

Some 3.03 million mandates were created through UPI, down 48.3% over last month, according to NPCI data

PhonePe's revenue grew 85% to Rs 690 cr in FY21, losses drop by 44%

The 85% YoY revenue growth was due to a rise in transactions. PhonePe has a lion's share of the volumes on United Payment Interface and Bharat Bill Payment System

In Focus: Will your recurring payments fail from today?

The Reserve bank of India's latest rules on auto-debit transactions come into force from today. What will change for the consumers? Will their recurring payment mandates fail? Let's find out

Decoded: What is UPI and how does it work?

Launched in 2016, UPI is a revolutionary technology framework used for mobile payments in India. We are all familiar with Paytm, PhonePe and Google Pay. But how does UPI work? Let's find out

Who are the biggest beneficiaries of India's digitisation drive in Covid?

When the JAM trinity was announced in 2014, the idea was to link mobile phones with Aadhaar and bank accounts. After UPI and wallets, now we have BharatQR and e-Rupee. Who has gained most from these?

UPI IPO mandate creation dips in August despite best mop-up in 4 years

5.9 mn mandates were created compared to 7.7 mn in July

India and Singapore sign pact for instant flow of retail payments

RBI, MAS ink pact to link UPI and PayNow; may operationalise by July 2022

PhonePe received a million UPI autopay mandates in past three months

Launched last year, UPI Autopay allows users to set up recurring e-mandates for recurring payments such as mobile bills, power bills, EMIs, OTT subscriptions, insurance, MF among others

Why RBI is concerned about Equitas SFB's new scheme for Google Pay users

The RBI is weighing carefully if this could eventually lead to a backdoor entry of Big Tech in the Indian banking system

Account Aggregator system can democratise credit, bolster lending ecosystem

An AA enables a free and instant exchange of financial data between FIUs and FIPs with the consent of customers

At 3.5 billion transactions in August, UPI clocks 120% surge in volume

In value terms, UPI saw transactions worth Rs 6.39 trillion in August, which is again a record high

UPI forms 10% of overall retail payments in FY21, says Macquarie report

UPI saw its FY21 annual throughput value at Rs 41 trillion, almost 2.8x that of credit and debit card at Point of Sale combined, and almost 20x that of prepaid payment instruments.

Record 7.7 million IPO mandates created via UPI in July, shows data

The figure for July was almost 4 times higher than that of June, when 1.94 million mandate creation requests were made through UPI

Apple's payment methods for apps now include UPI, RuPay, net banking

According to Mashable, this move means that Apple users can now pay using domestic payment systems as well as international payment systems

Digital payment index for March rises to 270.59, indicating rapid adoption

Digital transactions grew steadily throughout FY21, retail payments like UPI, IMPS and NACH showed resilience and healthy growth

Bhutan first country to adopt UPI; FM hails platform's role during lockdown

Sitharaman says platform facilitated 22 billion transactions worth Rs 41 trillion in 2020-21

Paytm cut marketing spend more than the competition: Bernstein report

The report adds that NPCI's recent norm that limits digital payment apps' share in the overall volume of transactions on the UPI at 30% would impact PhonePe and Google Pay more than Paytm

HDFC Bank to invest big on tech infra revamp after spate of outages

Lender is bringing new talent, getting into cloud-native stacks, shifting from traditional monolithic IT systems, and working with strategic partners for better products and services

Digital Payment transactions decline in May from March-April levels

Cash withdrawal through ATMs, transactions through NEFT and RTGS also decline

BHIM UPI transactions come down slightly to Rs 4.94 trillion in Apr

The digital transactions through BHIM UPI in April this year fell by 2.2 per cent from a month ago