Page 41 - Upi

PhonePe breaches 250-mn user mark; logs 925 mn transactions in October

Walmart-owned digital payments firm hits $277-billion annual TPV run-rate

Paytm accuses Google of trying to dominate India's digital ecosystem

Paytm suggested the global tech giant's move as hypocritical as Google, too, regularly runs similar scratch card campaigns in India under its Google Pay app

Pvt banks charging fee on more than 20 P2P UPI transfers in a month: Report

Defending the move, bankers said that the charges have been introduced in a bid to prevent frivolous transactions from putting a load on the system

Govt, RBI need to share cost of maintaining UPI infrastructure: Report

The IIT-Bombay report further said UPI as a digital payments platform increases efficiency towards tax compliance, and provides overall convenience for public good

Top headlines: DoT objects to RCom resolution plan, AGR case update, & more

Here are the top headlines on Thursday morning

India to contribute 2.2% of world's digital payment market by 2023: Report

The Covid-19 pandemic is expected to further amplify the reach of digital payments with people terrified of using cash

Govt announces norms for contributions by individuals, institutions to NDRF

These contributions have been allowed as per Section 46(1)(b) of the Disaster Management Act, 2005

Delhi HC asks RBI, Centre to respond to plea for action against Google Pay

The petitioner approached the high court after Google Pay did not allow him to contribute to the PM CARES Fund, without making another VPA or UPI ID on its own app.

Lockdown impact: Digital transactions nosedive in April, shows NPCI data

The value of IMPS (Immediate Payment Service) transactions in April fell to about Rs 1.21 trillion in April, from about Rs 2.02 trillion in March

RBI formalises guidelines for regulating payment aggregators, gateways

Payment gateways, says the latest guidelines, will be considered as technology providers or outsourcing partners of banks or non-banks, as the case may be.

Paytm Payments Bank restricts transactions into Yes Bank accounts

"Paytm Payments Bank Ltd (PPBL) today (Friday) announced that they are restricting transaction settlements, including UPI, into Yes Bank accounts to safeguard their users' money," PPBL said in a state

US major PayPal set to launch UPI-based digital payments in India

Its entry will increase competition especially when WhatsApp too has received approvals to launch payments

Ahead of IPO, SBI Cards sees fintechs, UPI as formidable competition

SBI Cards expects competition to intensify in future

RBI's DPI to track reach of digitisation of payments in India by July

The index, according to people in the know, will help the regulator understand the impact and spread of digital payments in rural, urban, and semi-urban areas

Banks association asks NPCI to scrap MDR on UPI, RuPay card transactions

Finance Minister Nirmala Sitharaman had said in the last Budget that no charge would be levied on UPI and Rupay transactions

Govt to fine firms with over Rs 50 cr revenue for not accepting UPI, RuPay

Companies with turnover of over Rs 50 crore to pay Rs 5,000 per day as penalty

As UPI gears up for global markets, Indian fintechs smell opportunity

Indian fintechs have already started getting enquires from other developing economies to customize UPI for them. Expect UPI launch by April 2020

Google wants US Federal Reserve to draw lessons from India's UPI success

According to Google, UPI was thoughtfully planned and critical aspects of its design led to its success.

Digital payments: Google wants US Fed to replicate India's UPI model

Launched in 2016, the UPI is the country's flagship real-time payments system

Number of UPI transactions up 6% at 1.2 bn in Nov; value falls marginally

While the number of UPI transactions during November rose to 1.22 billion from 1 billion in October, the combined value of these declined marginally to Rs 1.89 trillion from Rs 1.91 trillion