Page 4 - Upi

Fintech firms eye investments in 'switching' as UPI's scale picks up

These investments in critical technology stacks enable fintechs to process transactions faster, with higher success rates, while handling large volumes with greater stability

Ignosis raises $4 mn in pre-series A led by Peak XV's Surge, Razorpay

Ignosis, an AA infra and financial data intelligence firm, has raised $4 million led by Peak XV's Surge to scale teams and build AI-driven solutions for India's BFSI sector

Higher adoption of UPI leads to lower cash demand, RBI study shows

The study, authored by the RBI staff, found that UPI volumes are negatively correlated with cash demand, underscoring its role as a substitute for physical currency

UPI's new high value transaction limits kick in: Here's what changes

Starting September 16, UPI is no longer just for small daily payments. With raised limits for insurance, investments, and even jewellery purchases.

India, Brazil lead real-time A2A payments with UPI and Pix adoption

A BCG report says A2A payments exceed 50 per cent of all transactions in India and Brazil, powered by UPI and Pix, with AI agents set to further transform digital commerce

PhonePe posts 40% revenue surge, turns free cash flow positive ahead of IPO

Fintech firm crosses Rs 7,000 crore in revenue as adjusted EBITDA and PAT soar; diversification into lending and broking fuels growth momentum

NPCI proposes UPI-based cash withdrawals with ₹10,000 cap at BC outlets

NPCI has sought RBI approval to enable UPI-based cash withdrawals of up to ₹10,000 at business correspondent outlets, expanding beyond ATMs and select merchants

UPI to allow insurance, capital markets transactions of up to Rs 10 lakh

Popular digital payments platform will raise transaction limits for various services from September 15

UK PM Starmer to attend Global Fintech Fest 2025 alongside PM Modi

UK Prime Minister Keir Starmer will join PM Modi at Global Fintech Fest 2025, the first foreign head of state to do so, with AI, licensing and stablecoins set to dominate discussions

Scindia launches UPI-UPU integration to boost cross-border remittances

Union Minister Jyotiraditya Scindia unveiled the UPIUPU integration project at the 28th Universal Postal Congress in Dubai, an initiative that would combine the strength of India's Unified Payments Interface and Universal Postal Union Interconnection Platform to transform cross-border remittances, an official release said on Tuesday. Describing it as "more than a technology launch, but a social compact", Scindia, Minister for Communications and Development of North Eastern Region, said the reliability of the postal network combined with the speed of UPI means families across borders can send money faster, safer and at much lower cost. The initiative, developed by India's Postal Department (DoP), NPCI International Payments Limited (NIPL), and the Universal Postal Union (UPU), integrates India's Unified Payments Interface (UPI) with the UPU Interconnection Platform (IP), "combining the reach of the postal network with the speed and affordability of UPI", the release said. "It reaffir

UPI-UPU integration launched in Dubai to speed up cross-border remittances

Union Minister for Communication Jyotiraditya M Scindia on Monday unveiled the UPIUPU Integration project here, described as a landmark initiative aimed at transforming cross-border remittances for millions worldwide. The initiative was launched at the 28th Universal Postal Congress. Developed by the Department of Posts (DoP), NPCI International Payments Limited (NIPL), and the Universal Postal Union (UPU), it integrates India's Unified Payments Interface (UPI) with the UPU Interconnection Platform (IP), combining the reach of the postal network with the speed and affordability of UPI. Addressing the event, Scindia called it more than a technology launch, but a social compact. The reliability of the postal network combined with the speed of UPI means families across borders can send money faster, safer and at much lower cost. It reaffirms that public infrastructure built for citizens can be linked across borders to serve humanity better, he said. He outlined India's vision for a .

UPI gaming spends fall 23% in August after ban on real money games

UPI gaming spends fell sharply in August with volumes down 23% and value down 26% after the Online Gaming Act banned real money games such as rummy, poker and fantasy sports

UPI usage at bars, food joints rises in August; discretionary spending up

While discretionary spending through UPI increases, at the same time, more than 20 million AutoPay mandates continue to be revoked each month, mainly due to insufficient balances

UPI transactions up 3% in August to 20 bn as festive demand lifts usage

Festive season demand lifted UPI volumes in August, while IMPS declined; FASTag and AePS posted strong gains, reflecting India's deepening digital payments adoption

Cabinet clears ₹7,332-cr revamp and extension of PM SVANidhi till 2030

The restructured scheme, set to benefit 11.5 mn vendors, raises loan limits, introduces UPI-linked RuPay cards, digital cashback, and capacity-building initiatives

We don't get a penny for UPI infra: Axis Bank MD & CEO Amitabh Chaudhry

Axis Bank MD Amitabh Chaudhry said banks earn nothing from UPI transactions despite bearing the infrastructure costs, as subsidies and incentives shrink further

Banks fund India's digital payments while fintechs reap the revenue

UPI cost burden reaches Rs 8,500 crore annually as third-party apps dominate customer engagement

Re 1 rise in UPI value trims debit card use by 14 paise: SBI Report

SBI Research report reveals that a Re 1 increase in UPI transaction value reduces debit card usage by 14 paise, reflecting UPI's growing dominance in India's digital payments landscape

OpenAI launches ChatGPT Go in India at ₹399 with UPI support; here’s what you get

OpenAI has rolled out an affordable subscription plan for Indian users, called ChatGPT Go. Priced at just ₹399 per month, the new tier promises extended access to GPT-5, more image generations.

The matrix, decoded: How QR codes are transforming payments in India

QR code, the little pixelated square, has changed how India pays or accesses information. Its applications are only limited by imagination